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Last $0.34 USD
Change Today +0.0178 / 5.52%
Volume 22.2K
MGN On Other Exchanges
As of 8:04 PM 09/4/15 All times are local (Market data is delayed by at least 15 minutes).

mines management inc (MGN) Snapshot

Previous Close
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52 Week High
09/8/14 - $0.74
52 Week Low
07/8/15 - $0.30
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Average Volume 10 Days
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Dividend Yield
Current Stock Chart for MINES MANAGEMENT INC (MGN)

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mines management inc (MGN) Details

Mines Management, Inc., together with its subsidiaries, acquires, explores, and develops mineral properties in North America. The company primarily explores for silver, and base and precious metals. It principally holds interest in the Montanore silver-copper project that includes 10 patented mining claims and 861 unpatented mining claims located in Sanders and Lincoln Counties in northwestern Montana. Mines Management, Inc. was founded in 1947 and is based in Spokane, Washington.

11 Employees
Last Reported Date: 03/31/15
Founded in 1947

mines management inc (MGN) Top Compensated Officers

Chairman and Chief Executive Officer
Total Annual Compensation: $340.3K
President, Corporate Secretary and Director
Total Annual Compensation: $234.0K
Principal Financial Officer, Principal Accoun...
Total Annual Compensation: $106.0K
Compensation as of Fiscal Year 2014.

mines management inc (MGN) Key Developments

Mines Management, Inc. Announces Cash Flow Results for the Six Months Ended June 30, 2015

Mines Management, Inc. announced cash flow results for the six months ended June 30, 2015. For the period, the net cash used in operating activities was approximately $2.6 million, which was comparable to the same period in the prior year.

Federal Court Rules in Favor of Mines Management Inc. Regarding Claims Located Near the Montanore Project

Mines Management Inc. reported that the U.S. District Court of Montana, Missoula Division ruled in favor of the company on August 7, 2015, in the case involving alleged mineral claims overlying the Montanore adit, affirming the conclusions of the court-appointed Commission. In their report, previously announced on May 14, 2015, the Commission ordered that the claim holders would receive zero compensation for the easement and rights-of-way granted by the Court to the Company for the use of its Montanore adit. The claim holders, a group known as Optima Inc. led by former Montana Governor Brian Schweitzer, Francis Duval ('Optima'), and Arnold Bakie, had contended that the company owed Optima $10 million in compensation for the use of the Montanore adit that allegedly crossed their claims, and that the value of their claims had been reduced as a result of the presence and use of the adit. Evidence supporting the Commission's conclusion in part showed that there had, in fact, been no valuable mineral discoveries on the claims, and a 2008 effort made by the group to relocate the claims over the adit from a different location had been rejected by the Bureau of Land Management ('BLM'). Although the Company's access to and operations within the Libby adit were never interrupted, the company obtained its easements and other access rights through a preliminary condemnation order and injunction issued against the defendants on April 29, 2014. The three person commission, the members of which were selected by the U.S. District Court and are considered experts in mineral law, heard the case over the three day trial which concluded on April 10, 2015. Mines Management expects it will continue to prevail through any future challenges or appeals.

Mines Management, Inc. Receives Notice from NYSE MKT

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.


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MGN Competitors

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Company Last Change
Coeur Mining Inc $2.88 USD -0.01
Golden Minerals Co $0.30 USD +0.0015
Hecla Mining Co $1.96 USD +0.03
Pan American Silver Corp C$8.77 CAD -0.03
Silver Standard Resources Inc C$8.01 CAD -0.08
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Valuation MGN Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 2,065.8x
Price/Book NM Not Meaningful
Price/Cash Flow NM Not Meaningful
TEV/Sales 1,068.5x

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