http://www.metalstorm.com () —
Weapons developer Metal Storm Limited (ASX: MST) (PINKSHEETS: MTSXY) today announced it has completed a series of live firing demonstrations to the United States military and key defence industry figures.
Metal Storm CEO Dr. Lee Finniear said the live firings were conducted before more than 400 people at Nellis Air Force Base in Nevada as part of the National Defense Industrial Association (NDIA) International Infantry and Joint Services Small Arms System Symposium.
Dr. Finniear said that those attending the live firings included major weapons companies and key procurement and operational officers from the US Army, the US Marines and international defence forces.
“This was a fantastic opportunity to show our weapons in action and let others try them before a broad audience. The feedback from both the military community and defence industry representatives was very encouraging,” he said.
“It makes a real difference to be able to pass a weapon to a potential user to fire and have him understand, first hand, the potential of Metal Storm,” he said.
Metal Storm completed 30 distinct live firing demonstrations with more than 120 rounds fired in total. A combined team from the USA and Australia, including Dr. Finniear, conducted the demonstration firings.
“We fired 3GL using training practice rounds at a vehicle target 275 metres down range,” said Dr. Finniear. “275 metres is a substantial target distance for a grenade launcher, but the trajectory I saw was excellent. Also, I immediately understood the practical benefit of three rounds, as I was able to deliver another two rounds without losing my aim. With a conventional grenade launcher the target would not have been neutralised.”
Video of the live firings at NDIA can be viewed at http://video-us.metalstorm.us/release/NDIA.html (http://video-us.metalstorm.us/release/NDIA.html) .
Metal Storm’s Australian Stock Exchange trading code: MST
Metal Storm’s OTC Symbol: MTSXY
About Metal Storm
Metal Storm Limited is a multi-national defence technology company engaged in the development of electronically initiated ballistics systems using its unique “stacked projectile” technology. The company is headquartered in Brisbane, Australia and incorporated in Australia. Metal Storm Limited technology and products are represented in the USA by Metal Storm Inc., which has offices in Arlington Virginia.
Metal Storm is working with government agencies and departments, as well as industry, to develop a variety of systems utilising the Metal Storm non-mechanical, electronically fired stacked ammunition system.
Metal Storm’s weapon technology uses computer-controlled electronic ignition and a system of stacked projectiles, to achieve a completely non-mechanical gun that is very lightweight and compact, providing a very high firepower to weight ratio. The Metal Storm weapons system utilizes multiple barrels mounted together on one platform which allows varying munitions types to be deployed in a single, low cost, lightweight weapon system. Firing the weapons by electronic ignition requires no moving parts, allowing reliable long term unattended weapon operation.
Certain statements made herein that use the words “estimate,” ”project,” ”intend,” ”expect,” ”believe” and similar expressions are intended to identify forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks and uncertainties which could cause the actual results, performance or achievements of the company to be materially different from those which may be expressed or implied by such statements, including, among others, risks or uncertainties associated with the development of the company’s technology, the ability of the company to meet its financial requirements, the ability of the company to protect its proprietary technology, potential limitations on the company’s technology, the market for the company’s products, government regulation in Australia and the US, changes in tax and other laws, changes in competition and the loss of key personnel. For additional information regarding these and other risks and uncertainties associated with the company’s business, reference is made to the company’s reports filed from time to time with the Securities and Exchange Commission, including the company’s Form 20-F.
Filed Under: Aerospace + defense