- Report of Foreign Issuer (6-K)



 UNITED STATES
 SECURITIES AND EXCHANGE COMMISSION
 WASHINGTON, D.C. 20549

 FORM 6-K

 REPORT OF FOREIGN ISSUER

 PURSUANT TO RULE 13A-16 OR 15D-16
 OF THE SECURITIES EXCHANGE ACT OF 1934

 For the month of November 2009

 Commission file number: 0-30394

 METALINK LTD.
--------------------------------------------------------------------------------
 (Translation of registrant's name into English)

 YAKUM BUSINESS PARK, YAKUM 60972, ISRAEL
--------------------------------------------------------------------------------
 (Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports
under cover of Form 20-F or Form 40-F.

 Form 20-F [X] Form 40-F [_]

Indicate by check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(1): [_]

Indicate by check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(7): [_]

Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

 Yes [_] No [X]

If "Yes" is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): 82- ____________

The information contained in this Report on Form 6-K is hereby incorporated by
reference into the registrant's Registration Statements on Form F-3 File Nos.
333-152119, 333-145431, 333-104147 and 333-13806 and on Form S-8, File Nos.
333-121901, 333-12064, 333-88172, 333-112755 and 333-149657.



The following are included in this Report on Form 6-K:

1. Press release dated November 12, 2009; Metalink Reports Q3 2009 Results.



 SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.

 METALINK LTD.

Date: November 12, 2009 By: /s/ Yuval Ruhama
 -----------------------
 Yuval Ruhama
 Chief Financial Officer


Yuval Ruhama
CFO
Metalink Ltd.
Tel: 972-9-9605555
Fax: 972-9-9605544
Yuvalr@MTLK.com

 METALINK REPORTS Q3 2009 RESULTS

YAKUM, ISRAEL, November 12, 2009 - Metalink Ltd. (NASDAQ: MTLK), today announced
its unaudited financial results for the third quarter ended September 30, 2009.

FINANCIAL HIGHLIGHTS FOR THE THIRD QUARTER OF 2009: Revenues for the third
quarter of 2009 were $0.5 million, comprising solely of WLAN sales, compared
with revenues of $0.8 million for the comparable period in 2008, the majority of
which were legacy DSL sales. Net loss for the third quarter of 2009 was $(4.0)
million, or $(0.16) per share, compared to $(3.0) million, or $(0.13) per share,
for the third quarter of 2008. Net loss for the third quarters of 2009 and 2008
includes stock-based compensation expenses of $0.1 million and $0.7 million,
respectively.

FINANCIAL EXPENSES: Financial Expenses, net, in the third quarter of 2009 were
$1.2 million, compared to $1.6 million in the second quarter of 2009. The
decrease in financial expenses is primarily attributable to a decrease in the
non-cash expense attributable to the fair value of the warrants granted under a
short term loan (see below), carried at fair value. Said decrease was offset
mainly by an increase in the face value of the loan, due to a recent amendment
thereto.

FOR THE FIRST 9 MOTNHS OF 2009: Revenues for the first nine months of 2009 were
$4.2 million, compared to $4.1 million for the comparable period in 2008. Net
loss for the first nine months of 2009 was $(11.8) million, or $(0.48) per
share, compared to a net loss of $(19.5) million, or $(0.83) per share, for the
comparable period in 2008.

CASH STATUS: Metalink's net cash and cash equivalents as of September 30, 2009
were $3.8 million.

SHORT TERM LOAN: During the third quarter, the Company's short-term secured loan
agreement from an institutional investor was amended to extend the maturity date
of the loan by six months to March 9, 2010. In accordance with the revised
terms, Metalink repaid the lender $2 million of the outstanding $5.75 million
due. Additional details regarding the amendment to the loan agreement, including
a copy of the amendment, are included in the Company's Report on Form 6-K that
was filed on September 8, 2009 with the Securities and Exchange Commission
(SEC).



ABOUT METALINK

Metalink Ltd. (NASDAQ: MTLK) is a fabless semiconductor Company engaged in the
research, development and sale of high-throughput wireless local area network
(WLAN) chipsets, and in the sale of high performance broadband access chip sets
or digital subscriber line (DSL) used by telecommunications and networking
equipment manufacturers.

Metalink's WLAN and DSL technologies are designed to enable true broadband
connectivity in every home, and its products change the broadband experience by
facilitating the convergence of telecommunication, networking and entertainment.

Metalink's WLANPLUS(TM) is a high-throughput, 802.11n-draft-compliant wireless
LAN technology optimized for the networked home entertainment environment.
Featuring advanced MIMO technology and full support of QoS, and operating in
both 2.4GHz and 5GHz bands, WLANPLUS enables multi-room networking of multiple
high-definition video streams.

Further information is available at http://www.MTLK.com

 ----------

 SAFE HARBOR STATEMENT

This press release contains "forward looking statements" within the meaning of
the United States securities laws. Words such as "aim," "expect," "estimate,"
"project," "forecast," "anticipate," "intend," "plan," "may," "will," "could,"
"should," "believe," "predicts," "potential," "continue," and similar
expressions are intended to identify such forward-looking statements. Because
such statements deal with future events, they are subject to various risks and
uncertainties that could cause actual results to differ materially from those in
the forward looking statements. Factors that could cause or contribute to such
differences include, but are not limited to: in light of our cash status, our
inability to raise additional funds or enter into other strategic transactions
on a timely basis may lead us to insolvency; our inability to regain compliance
with NASDAQ'S requirements for continued listing; any unforeseen developmental
or technological difficulties with regard to our products; changes in the
competitive landscape, including new competitors or the impact of competitive
pricing and products; and the impact on revenues of economic and political
uncertainties and weaknesses in various regions of the world, including the
commencement or escalation of hostilities or acts of terrorism. Additional
factors that could cause actual results to differ materially from these
forward-looking statements are set forth from time to time in Metalink's filings
with the SEC, including Metalink's Annual Report in Form F-20. Readers are
cautioned not to place undue reliance on forward-looking statements. Except as
required by applicable law, the Company undertakes no obligation to republish or
revise forward-looking statements to reflect events or circumstances after the
date hereof or to reflect the occurrences of unanticipated events. The Company
cannot guarantee future results, events, and levels of activity, performance, or
achievements.





 METALINK LTD.

 CONSOLIDATED BALANCE SHEETS

 SEPTEMBER 30, DECEMBER 31,
 ---------- ----------
 2 0 0 9 2 0 0 8
 ---------- ----------
 (UNAUDITED)
 ----------
 (IN THOUSANDS)
 ---------------------------




ASSETS
CURRENT ASSETS
 Cash and cash equivalents $ 3,767 $ 5,166
 Short-term investments - 677
 Trade accounts receivable 273 2,515
 Other receivables 629 1,529
 Prepaid expenses 180 209
 Deferred charges - 242
 Inventories 1,345 2,508
 ---------- ----------
 Total current assets 6,194 12,846
 ---------- ----------

SEVERANCE PAY FUND 1,269 1,195
 ---------- ----------

PROPERTY AND EQUIPMENT, NET 2,381 3,338
 ========== ==========

 Total assets $ 9,844 $ 17,379
 ========== ==========




LIABILITIES AND SHAREHOLDERS' EQUITY (DEFICIENCY)
CURRENT LIABILITIES
 Trade accounts payable $ 545 $ 739
 Other payables and accrued expenses 4,235 3,257
 Short term loan 4,334 2,101
 Warrants to issue shares 399 196
 ---------- ----------
 Total current liabilities 9,513 6,293
 ---------- ----------

ACCRUED SEVERANCE PAY 1,884 2,098
 ---------- ----------

SHAREHOLDERS' EQUITY (DEFICIENCY)
 Ordinary shares of NIS 0.1 par value (Authorized - 50,000,000 shares,
 issued and outstanding 26,637,232 and 24,752,232 shares as of
 September 30, 2009 and December 31, 2008, respectively) 759 711
 Additional paid-in capital 157,620 156,500
 Accumulated other comprehensive loss - (124)
 Accumulated deficit (150,047) (138,214)
 ---------- ----------
 8,332 18,873
 ---------- ----------

 Treasury stock, at cost; 898,500 as of
 September 30, 2009 and December 31, 2008 (9,885) (9,885)
 ---------- ----------

 Total shareholders' equity (deficiency) (1,553) 8,988
 ========== ==========

 Total liabilities and shareholders' equity (deficiency) $ 9,844 $ 17,379
 ========== ==========



 METALINK LTD.

 CONSOLIDATED STATEMENTS OF OPERATIONS

 THREE MONTHS ENDED NINE MONTHS ENDED
 SEPTEMBER 30, SEPTEMBER 30,
 ------------------------------- -------------------------------
 2 0 0 9 2 0 0 8 2 0 0 9 2 0 0 8
 ------------ ------------ ------------ ------------
 (UNAUDITED) (UNAUDITED)
 ------------------------------- -------------------------------
 (IN THOUSANDS, EXCEPT SHARE AND PER SHARE DATA)

Revenues $ 529 $ 811 $ 4,245 $ 4,144
Cost of revenues:
Costs and expenses 606 304 2,371 1,708
Royalties to the Government of Israel 19 27 134 132
 ------------ ------------ ------------ ------------
Total cost of revenues 625 331 2,505 1,840
 ============ ============ ============ ============

GROSS PROFIT (LOSS) (96) 480 1,740 2,304
 ------------ ------------ ------------ ------------

Operating expenses:
Gross research and development 2,350 4,329 8,135 19,384
Less - Royalty bearing and other grants 420 1,591 1,291 2,527
 ------------ ------------ ------------ ------------
Research and development, net 1,930 2,738 6,844 16,857
 ------------ ------------ ------------ ------------

Selling and marketing 285 976 1,083 4,086
General and administrative 433 615 1,912 2,058
 ------------ ------------ ------------ ------------
Total operating expenses 2,648 4,329 9,839 23,001
 ============ ============ ============ ============

OPERATING LOSS (2,744) (3,849) (8,099) (20,697)

Financial income (expenses), net (1,221) 813 (3,734) 1,231
 ------------ ------------ ------------ ------------

NET LOSS $ (3,965) $ (3,036) $ (11,833) $ (19,466)
 ============ ============ ============ ============

Loss per ordinary share:
Basic $ (0.16) $ (0.13) $ (0.48) $ (0.83)
 ============ ============ ============ ============

Diluted $ (0.16) $ (0.13) $ (0.48) $ (0.83)
 ============ ============ ============ ============

Shares used in computing loss per
ordinary share:
Basic 25,531,732 23,490,732 24,529,362 23,489,497
 ============ ============ ============ ============

Diluted 25,531,732 23,490,732 24,529,362 23,489,497
 ============ ============ ============ ============

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