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METALED VENTURES LTD. FORM 51102F1 MANAGEMENT DISCUSSION AND ANALYSIS Three and Six Month Periods Ended October 31, 2010, The following Management Discussion and Analysis (MDA), prepared as of December

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Metalex Ventures Ltd is a mineral exploration company focused on discovering and developing high-grade copper deposits.

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Information such as financial statements, exploration activities, and corporate governance must be reported on Metalex Ventures Ltd.

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