This Day On The Street
Continue to site right-arrow
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
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Mines Management Files Technical Report For Montanore Silver-Copper Project

Mines Management, Inc. (“MMI”) (NYSE-Amex:MGN) (TSX:MGT) has filed on SEDAR a Technical Report entitled “Technical Report: Preliminary Economic Assessment, Montanore Project, Montana, USA prepared for Mines Management Inc.” (“Technical Report”) dated February 3, 2011, in support of a Preliminary Economic Assessment (“PEA”) for the Company’s wholly owned Montanore Silver-Copper Project in compliance with Canadian National Instrument 43-101. (“NI 43-101”). The Technical Report was prepared by Mine and Quarry Engineering Services, Inc. of San Mateo, California (“MQes). MMI previously announced the PEA results set forth below on December 22, 2010.

A mine plan developed by MMI was audited by MQes. Cost estimates were developed by MQes. The mine plan is based on a measured and indicated mineral resource of 81.5 million short tons of material grading 2.04 ounces per short ton (“opt”) silver and 0.75% copper, and an inferred mineral resource of 35.0 million short tons grading 1.85 opt silver and 0.71% copper at a cutoff grade of 1.0 opt silver, previously reported in an NI 43-101 Technical Report dated October 2005 prepared by Mine Development Associates (“MDA”) of Reno, Nevada. MDA’s estimate reported by MMI of estimated mineralized material reported pursuant to U.S. Securities and Exchange Commission rules in its annual report on Form 10-K for the year ended December 31, 2009, remains unchanged.

The PEA indicates the potential for a financially robust underground mine utilizing conventional grinding and flotation processing techniques at a nominal throughput of 12,500 short tons per day (“st/d”). At a 5% discount rate, a silver price of US$15.00 per ounce (“oz”) and a copper price of US$3.10 per pound (“lb”), the project’s pre-tax Net Present Value (“NPV”) is indicated to be US$485 million with an internal rate of return (“IRR”) of 17.4% on an unleveraged 100% equity basis.

Using metals prices as of November 17, 2010, of US$25.65/oz. silver and US$3.72/lb. copper, the project indicated a pre-tax NPV of US$1.323 billion and IRR of 32.3%, at a 5% discount rate.

1 of 8

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
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

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
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,776.12 -200.19 -1.11%
S&P 500 2,067.89 -18.35 -0.88%
NASDAQ 4,900.8850 -46.5560 -0.94%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs