Metallica Resources "speculative buy"

03/30/07 - Canaccord Adams

NEW YORK, March 30 (newratings.com) - Analyst Graeme Currie of Canaccord Adams maintains his "speculative buy" rating on Metallica Resources Inc (MRB). The target price is set to C$6.30.

In a research note published yesterday, the analyst mentions that the company has announced the results from the 6,208-metre drill programme, which was completed by Xstrata in 4Q06, on the La Fortuna deposit in Chile. High grade copper-gold mineralization has been found at the La Fortuna deposit, Chile, the analyst says.