Project advances development on innovative weapon system
ARLINGTON, VIRGINIA — 03 June, 2008 — Metal Storm (ASX: MST and NASDAQ: MTSX), is pleased
to announce that Metal Storm Incorporated (MSI) has been awarded a major contract worth almost $US 1
million to progress the development of one of its weapon systems for the U.S. military.
MSI has been contracted by the Office of Naval Research (ONR) for the further development of a 12-
gauge, Multi-shot Grenade Launcher. The Cost Plus Fixed Fee (CPFF) contract is valued at $US936,695.
Work commences immediately with delivery scheduled in under 12 months.
The project will extend the work performed previously under a contract with the United States Marine
Corps for a Multi-Shot Accessory Underbarrel Launcher (MAUL). The MAUL is a lightweight grenade
launcher and shotgun attachment that fits under the barrel of a combat weapon such as the M-16 or M-4.
It is capable of shooting 4 rounds from a single cartridge.
The MAUL was recently demonstrated before an audience of more than a hundred people at one of
world’s premier small arms events, the International Infantry and Joint Services Small Arms Symposium in
Peter D. Faulkner, Metal Storm Inc. General Manager, said: “In the early phases of this project we will be
consulting with the Operational Commanders to determine mission needs and to identify the relevant
current and future operational areas that the MAUL must address to be successful on the battlefield. This
emphasis will bring the warfighter an auxiliary weapon with advanced capabilities beyond that of legacy
weapons and enhance the effectiveness of the individual infantryman in both lethal and non-lethal
The MAUL design incorporates Metal Storm Limited’s patented, electronically initiated stacked projectile
technology. It is capable of firing munitions across the spectrum, from fragmenting and door breaching
grenades to non-lethal projectiles for law enforcement applications.
Metal Storm Limited CEO, Dr Lee Finniear, said the ONR contract provides a catalyst for the next stage of
taking MAUL on its path to commercial production.
“It is clear from this latest US Navy contract that the MAUL weapon has the potential to provide a
capability needed by today’s fighting soldier,” Dr Finniear said.
“I am very pleased that Metal Storm technology is embedded at the core of this unique weapon, and that
the potential benefits of MAUL appear clear to the US Military.”
Who do you trust - this man or some self appointed so called 'experts' who bash on this board?
CV of Dr Jonson
Dr Peter Jonson was appointed a Director of Metal Storm Limited in February 2006. Peter has had extensive official and commercial experience in leadership positions in Australia with significant international involvement. Peter is a professional director and economist. He spends a considerable part of his time directly or indirectly helping scientists and technologists produce commercial outcomes from their research. He is a director of Village Roadshow Ltd and Pro Medicus Limited, Chair of Australian Institute for Commercialisation and Chair of Australian Aerospace and Defence Innovations Ltd. He also serves as Chair of the Australian Government's Cooperative Research Centre (CRC) Committee. During 2001 he was Chair of the Major National Research Facilities Committee and, during 2002 he was Chair of the Biotechnology Centre of Excellence Panel of Experts. From 1992 to 2003 he was Chairman of the Melbourne Institute Advisory Board, and is now Chairman Emeritus.
Peter has been Chairman of ANZ Funds Management, Group Managing Director of Norwich Union Financial Services Ltd and Head of Research at James Capel Australia Limited. Peter held a number of senior positions as an economist with the Reserve Bank of Australia from 1972 to 1988. He is a Fellow of the Academy of the Social Sciences in Australia and a Fellow of the Australian Institute of Company Directors.
Much more cred than paid bashers like Mach and has just doubled his holding in MST