This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Mines Management Announces First Quarter Financial And Operating Results

MINES MANAGEMENT, INC. (NYSE Amex:MGN) (TSX:MGT)(the “Company”) is pleased to announce results for the first quarter, 2010.


In the first quarter of 2010:
  • The U.S. Forest Service (“USFS”) and the Montana Department of Environmental Quality (“DEQ”) continued compiling responses to comments from the public received on the Draft Environmental Impact Statement (“EIS”) for the Montanore Project.
  • The Company’s exploration and corporate development team continued to examine additional opportunities in North America and South America.
  • The Company maintained a strong cash and investment position at March 31, 2010, with $11.0 million of unrestricted cash and certificates of deposit.
  • The Company entered into an agreement with Mine Quarry Engineering Services (“MQES”) to begin preparation of a Preliminary Economic Assessment (“PEA”) for the Montanore Project.
  • The Company continued its program to reduce expenditures and conserve cash pending the completion of permitting.

The net decrease in cash and cash equivalents for the quarter ended March 31, 2010 was approximately $1.6 million. The Company has reviewed the near term spending forecast and implemented a plan to conserve cash where prudent.

Advanced Exploration and Delineation Drilling Program

Libby operations in the first quarter of 2010 included continued operations on the Montanore site water treatment system and dewatering of the decline. Monitoring continues to provide data for the hydrologic database that is currently under development through the Company’s contractor. The Company expects that the resulting model will support its position on the water issues being considered by the agencies in the permitting process.

The Company awarded a contract to MQES in April to carry out work for the PEA. Engineering and geology work continues using existing information in support of ongoing engineering work and analysis for the PEA.

1 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
MGT $0.32 0.00%
MGN $0.70 0.00%
AAPL $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs