Charter Pacific Corporation Limited

Press

You are here:    »  »  »  » March 22, 2005

Metal Storm ‘On Target’ with Live Fire Demonstrations in US

BRISBANE, AUSTRALIA, 22 March 2005 – Metal Storm Limited (ASX trading code: MST and NASDAQ Small Cap ticker symbol MTSX).

Metal Storm has successfully completed a series of live fire demonstrations held at the US Army’s range facility at Picatinny Arsenal in New Jersey.

The demonstrations consisted of multiple live firings of a purpose-built version of the Metal Storm 40mm weapon system mounted on a Talon unmanned ground vehicle (UGV). During the demonstrations approximately 100 guests saw the Metal Storm equipped Talon engage a variety of targets, including simulated personnel, an infantry carrier and a bunker, with pyrotechnic rounds.

The purpose of the demonstration was to showcase the technical and operational capabilities of the Metal Storm 40mm weapon system combined with a robotic platform currently in use by the US military. The demonstrations were attended by senior scientific and technical personnel from the US Department of Defense as well as selected defense industry representatives.

The Metal Storm 40mm weapons system employed in the demonstrations was a specially designed 4 barrel array loaded with 4 rounds per barrel and utilizing significant design and engineering improvements, including improved cartridge reload and recoil management systems. It also incorporated an optical targeting system integrated with a purpose-designed mount which provided 2-axis control, stability and accuracy in aiming and operating the weapon.

Metal Storm’s Chief Executive Officer, Mr. David Smith, said the demonstrations had achieved their objective in generating a positive response from key defense industry personnel. “Our system performed extremely well and we are delighted with the positive feedback and interest expressed by those attending. We already have a number of new potential opportunities under discussion as a result of the demonstrations and our technical staff has gathered very valuable data on the performance of the system. This is the outcome we were aiming for.” he said.

The demonstrations were held as part of a Cooperative Research and Development Agreement (CRADA) that the US Army Armament Research, Development and Engineering Center (ARDEC) has with Metal Storm. Under the terms of this agreement, Metal Storm develops rapid fire weapons technology while ARDEC demonstrates and evaluates such technology for potential US Army use.

Personnel from the Medium Caliber Ammo Branch of ARDEC attended the live fire demonstrations to observe the functionality of the system. Under the CRADA they will be working with Metal Storm on the development of a range of munitions for use in the Metal Storm 40mm weapon system.

The live fire demonstrations at Picatinny Arsenal did not include firings from the Dragonfly DP4X unmanned aerial vehicle (UAV) as previously planned because of operational restrictions on the range which prevented in-flight live fire trials being possible. Arrangements are currently being made for in-flight test-firings and demonstrations to be held in the next few months at another location.

Video and still images from the live firings at Picatinny will be available for viewing on the Metal Storm website: www.metalstorm.com as soon as they are approved for release by the other parties involved in the program.

About Metal Storm

Metal Storm Limited is a defence technology company engaged in the development of electronically initiated ballistics systems using its unique “stacked round” technology. The company is headquartered in Brisbane, Australia and incorporated in the US, with an office in Washington DC and a defence engineering capability located in Seattle, operating as ProCam Machine LLC. 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.

About Picatinny Arsenal

Picatinny Arsenal Picatinny is the site of ARDEC (Armament Research, Development and Engineering Center). ARDEC falls under the major command of AMC (Army Materiel Command) and TACOM (Tank Automotive and Armaments Command). ARDEC's mission is to conduct or manage research, development and engineering for all assigned weapon systems. Currently, its primary mission is research, development, and pilot-plant production of explosives and propellants for the Army. Picatinny Arsenal covers 6,491 acres in Morris County. Picatinny Arsenal is located in the NY/NJ Metropolitan Region approximately 45 miles West of New York City. The arsenal has been in operation for over 100 years, and it was a major source of ammunition in wartime.

Safe Harbor Statement

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 US 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 to successfully market products in the clinical pipeline, the ability to advance promising therapeutics through clinical trials, the ability to establish our fully integrated technologies, the ability to enter into additional collaborations and strategic alliances and expand current collaborations and obtain milestone payments, the suitability of internally discovered genes for drug development, 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 United States, changes in tax and other laws, changes in competition and the loss of key personnel. These statements are based on our management's current expectations and are subject to a number of uncertainties that could change the results described in the forward-looking statements.  Investors should be aware that there are no assurances that results will not differ from those projected.


^ Back to Top