mines management inc (MGN) Key Developments
Mines Management, Inc. Receives Notice from NYSE MKT
Jul 8 15
On July 1, 2015, Mines Management, Inc. received a letter from NYSE MKT LLC stating that it is not in compliance with the continued listing standards as set forth in Section 1003(a)(i-iv) of the NYSE MKT Company Guide. In order to maintain its listing, the Company must submit a plan of compliance by August 3, 2015 addressing how it intends to regain compliance with Section 1003(a)(i-iv) of the Company Guide by December 31, 2016 for equity standards and December 31, 2015 for the financial impairment standard. If the plan is accepted, the Company may be able to continue its listing but will be subject to periodic reviews by the Exchange. If the plan is not accepted, or if it is accepted but the Company is not in compliance with the continued listing standards by the plan period end dates, or if the Company does not make progress consistent with the plan, the Exchange may initiate delisting procedures as appropriate. The Company's management is pursuing options to address the deficiencies and intends to submit a compliance plan on or before the deadline set by the Exchange.
Mines Management, Inc. Announces Audited Earnings Results for the Year Ended December 31, 2014
Apr 7 15
Mines Management, Inc. announced audited earnings results for the year ended December 31, 2014. The company reported a net loss for the year ended December 31, 2014 of $6.5 million or $0.22 per share compared to a loss of $7.4 million or $0.25 per share for the year ended December 31, 2013. Net cash used in operating activities during 2014 was $5.6 million compared with $6.1 million utilized in operating activities in 2013.
Mines Management, Inc. Auditor Raises 'Going Concern' Doubt
Mar 31 15
Mines Management, Inc. filed its 10-K on Mar 31, 2015 for the period ending Dec 31, 2014. In this report its auditor, Tanner + Co., gave an unqualified opinion expressing doubt that the company can continue as a going concern.
Mines Management Inc. Completes Final Environmental Impact Statement for Montanore Silver-Copper Project
Mar 30 15
Mines Management, Inc. announced that on March 26, 2015, the United States Forest Service (USFS) announced completion and issuance of the Final Environmental Impact Statement (EIS) for the Montanore Project. Based on the agency's analyses of issues considered throughout the review process, the USFS is also issuing a Draft Record of Decision (ROD) indicating its intent to authorize the Project. Completion of the Final EIS and Draft ROD signal commencement of the final phase of the permitting process for the Montanore Silver-Copper Project located in northwestern Montana.
Mines Management, Inc., Annual General Meeting, Jun 18, 2015
Mar 23 15
Mines Management, Inc., Annual General Meeting, Jun 18, 2015., at 14:00 Pacific Standard Time. Location: Lincoln Plaza, 818 W Riverside Ave. Agenda: To consider elect two directors to each serve for a three-year term until the 2018 annual meeting of shareholders or until such director's successor is elected and qualified; to consider ratify the appointment of Tanner LLC as independent registered public accounting firm for the fiscal year ending December 31, 2015; and to transact such other business as may properly come before the meeting or any postponements or adjournments thereof.