Unbekannte Aktie!

Hallo,

in diesem Thread sollte nur über das Unternehmen
MINES MANAGEMENT (MNMM) diskutiert werden.

Hier einige Daten zum Unternehmen:

Mines Management, Inc.:
905 W Riverside - Suite 311
Spokane, WA 99201

Tel: (509) 838-6050
Fax: (509) 838-0486
Email: info@minesmanagement.com
Internet:http://www.minesmanagement.com

Directors:
· Glenn M. Dobbs, President and Chief Executive Officer (CEO), Chairman of the Board
· Roy G. Franklin, Secretary/Treasurer & Director
· Robert L. Russell, Director
· Jerry Pogue, Director

Market:
· OTC Bulletin Board
· Symbol: MNMM

Founded:
· 1947

Capital:
· Shares Outstanding: 8,774,708
· Fully Diluted: 10,604,213

Transfer Agent:
Computershare Trust Company
PO Box 1596
Denver, CO 80201

Legal:
Workland & Witherspoon, P.L.L.C.
601 West Main - Suite 714
Spokane, WA 99201

Auditors:
Le Master & Daniels
601 West Riverside - Suite 700
Spokane, WA 99201

Kurz die Fakten:

Im Boden liegen weit über 4 Mrd. USD an Kupfer und Silber. Es sind nach aktuellen Angaben des Managements ca. 250 Mio. USD nötig, um in die Förderung zu gehen. Die Förderkosten belaufen sich immer pro Tonne, bei MNMM sind es 12,5 USD. Das lässt sich umrechnen in ca. 5 USD/Unze Silber, das Kupfer wird " nebenbei" gewonnen. Die Förderkosten für das Silberäquivalent betragen 3 USD/Unze. Das bedeutet, wenn man den Erlös aus dem Kupfer umrechnet, und sich vorstellt, es sei Silber gewesen, dann liegen wir bei ca. 3 USD/Unze Silber. Dazu kommen dann noch die üblichen Kosten für die Verwaltung und anderes. Beim jetzigen Silberpreis wäre MNMM vielleicht knapp profitabel, ev. auch schon recht profitabel.

Der Clou ist allerdings der hohe Hebel auf den Silberpreis. Jeder weitere Dollar Kursgewinn beim Silber ist ein potenzieller Mehrgewinn in der Zukunft.

Die Gründe, warum Mines Management nicht fördert, sind einerseits die Jahrelange Silberdepression, andererseits ist das Areal erst seit Anfang 2003 voll im Besitz von MNMM. Frühere Studien sind wirklich vollkommen veraltet. Die Fördertechnik hat sich verbessert, und einige Probleme mit Umweltschützern, auch Prozessen, stammen aus anderen Jahrzehnten. Und selbstverständlich muss erst Kapital zu günstigen Konditionen, sprich möglichst hohen Kursen für neue Aktien aufgenommen werden. Man muss mit Dilution rechnen.

Fazit:

Meiner Meinung nach ist MNMM jetzt klar unterbewertet. der Kurs sollte bei weiter steigenden Silberkursen in USD, ich halte dieses Jahr 10 USD für möglich, allerdings durch die Decke gehen. Bei 10 USD/Feinunze lägen die Reserven bei ca. 7 Mrd. USD, was eine Marktkap. von einigen 100 Mio. USD nicht unwahrscheinlich erscheinen lässt. Das wären +/- 30 USD. Wenn sich Silber dagegen nicht gross bewegt, ist mein Kursziel 12 USD pro Aktie.

Unternehmen geordnet nach Silberreserven:

1.Pan American Silver (PAAS)
Reserven: 692 Mio.Unzen
Marktkapitalisierung: 847 Mio $

2.Silver Standard (SSRI)
Reserven: 672 Mio.Unzen
Marktkapitalisierung: 532 Mio $

3.Apex Silver Mines (SIL)
Reserven: 586 Mio.Unzen
Marktkapitalisierung: 841 Mio $

4.Mines Management (MNMM)
Reserven: 261 Mio.Unzen
Marktkapitalisierung: 50 Mio $

5.Coeur D Alene (CDE)
Reserven: 256 Mio.Unzen
Marktkapitalisierung: 1,337 Mrd. $

6.Western Silver (WTZ)
Reserven: 213 Mio.Unzen
Marktkapitalisierung: 202 Mio $

7.Minefinders (MFN)
Reserven: 158 Mio.Unzen
Marktkapitalisierung: ???

8.Hecla Mining (HL)
Reserven: 130 Mio.Unzen
Marktkapitalisierung: 1 Mrd. $

Silber hat sämtliche Widerstände genommen, und könnte viel höher stehen. Der Höchstkurs von 1980 war 50 USD, was heute locker 150-200 USD entspricht. Was für ein Hebel...

Wenn die Reserven von MNMM mal mehr als 100 Mrd. USD wert sind, steht die Marktkap. nicht mehr bei 1/70. und auch nicht bei 1/10. Eher bei 1/5. Denn bei so hohen Kursen fällt die Förderung kaum noch ins Gewicht. Dann sehen wir Kurse von 2000 USD/Aktie.

Doch halt!!!!!

Es wird Dilution geben. Aber selbst wenn sich die Zahl der Aktien verfünffacht, was sehr viel wäre, bleibt ein Kursziel von 400 USD.

Fazit:

Es ist gar nicht nötig, sehr viele MNMM zu kaufen. Ich habe selber auch nicht furchtbar viele. Einige 100 bis 1000 Stück können zum kleinen Vermögen werden. Geduld und starke Nerven vorausgesetzt.

Hat jemand den Bericht über Silberaktien in Börse Online gelesen?

Empfohlen wurde CDE,PAAS und WTZ!

Bei Western Silver (WTZ) schrieb BO folgendes:

Noch heißer als diese beiden (CDE,PAAS) ohnehin schon spekulativen Titel ist die Aktie von Western Silver (WTZ). Der kanadische Explorationskonzern verkauft zwar noch keine Unze Silber (genau wie MNMM), besitzt aber mit dem Penas-quito-Projekt in Mexiko einen Silberschatz. Experten vermuten dort eines der weltweit größten Silbervorkommen. Bohrungen lassen Ressourcenprognosen von bis zu 200 Mio.Unzen zu (MNMM hat 261 Mio.Unzen!) . 2006 könnte die Gruppe in Produktion gehen.

Vergleich :

Western Silver (WTZ)
Reserven: 200 Mio. Unzen
Marketcap: 183 Mio$

Mines Management (MNMM)
Reserven: 261 Mio.Unzen
Marketcap: 50 Mio.$

Fazit:
Ein " wahrer Schatz" ist Mines Management (MNMM)! Wenn BO schon Western Silver zum Kauf empfiehlt, obwohl die Gesellschaft an der Börse 3mal so teuer und deutlich weniger Reserven als MNMM hat , dann dürften immer mehr Leute merken, was für ein Schnäppchen MNMM ist.

MNMM ist ein klarer KAUF!

Alle Pressemeldungen von MNMM:

Mines Management Acquires Control Of 260 Million Ounce Silver Deposit

SPOKANE, Wash.--(BUSINESS WIRE)--Aug. 26, 2002--Mines Management Inc., (OTC BB:MNMM - News) announces that it has acquired controlling ownership of the Montanore silver-copper deposit in Sanders County, Montana. MMI has received a quitclaim deed from Noranda Minerals Corp., which has elected to withdraw from the project. The patented mining claims control the mineralization, formerly investigated as the Montanore Project. Widely spaced drilling has encountered substantial silver-copper mineralization over an area measuring more than 12,000 feet long and averaging 3,000 feet in width. An approved Environmental Impact Statement estimated a resource of 135 million tons containing 261 million ounces of silver and 2 billion pounds of copper.

Although Montanore represents one of the largest silver deposits in the world, it is thought to be sub-economic at today`s depressed metals prices. Mines Management believes that silver is highly undervalued at this time and that an improvement in price could have a significant impact on the deposit`s economic viability. Considerable additional development work needs to be carried out on the deposit and MMI is assessing alternative plans, with an eye toward maximizing shareholder value.

Mines Management, Inc., is a public US mineral exploration company whose focus is the exploration and development of deposits containing a dominant silver value. MMI has owned a minority interest in the Montanore deposit since 1988 and recently initiated an aggressive campaign to evaluate other silver opportunities in the US, Canada and Mexico.

This press release contains forward-looking statements regarding the Company, within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act, including statements regarding the development of it`s mining development projects as well as it`s global exploration program. Actual results relating to any and all of these subjects may differ materially from those presented. The Company assumes no obligation to update this information.

Pressemeldung vom 21.01.2003:

MINES MANAGEMENT APPOINTS NEW PRESIDENT/CEO

SPOKANE, Wash.--(BUSINESS WIRE)--January 21, 2003--Mines Management Inc., (MNMM: OTC BB) announced today the appointment of Mr. Glenn Dobbs as President and Chief Executive Officer (CEO) of the company, effective January 15, 2003. Mr. Dobbs has extensive experience in the natural resources sector of the financial markets and in corporate development. He was appointed V.P., Corporate Development for the company in early December, 2002.

W.R. Green, PhD, will remain as Director and Chairman of the Board of Directors and will oversee the company`s technical operations.

" We are extremely grateful for the more than 30 years of service Bill has rendered to the company and are very pleased to have ongoing access to his vast experience in the industry, most particularly relating to the company`s Montanore project in Western Montana," the new President said. " We are all pleased that Bill will continue to be an integral part of the Mines Management team and I look forward to his involvement as we proceed with development of the project."

" At the moment we are a small company with a world class asset. As we move the company forward we will be examining prospective strategic alliances and exploring a number of avenues for bringing additional value to our shareholders. We believe this is clearly the most exciting and opportune time in the 55 year history of the company," Dobbs said.

Mines Management, Inc., is a public US based mineral exploration company whose focus is in the exploration and development of silver dominated deposits. MMI`s primary asset is the ownership of the Montanore deposit, which is reported to contain in excess of 261 million ounces of silver and 2 billion pounds of copper.

More information about Mines Management, Inc., can be viewed at the company`s website at http://www.minesmanagement.com.

This press release contains forward looking statements regarding the Company, within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act, including statements regarding the development of its mining development projects. Actual results relating to any and all of these subjects may differ materially from those presented. The Company assumes no obligation to update this information.

Pressemeldung vom 12.03.2003:

MINES MANAGEMENT ACQUIRES 260 MILLION OUNCE SILVER DEPOSIT

- CORPORATE UPDATE -
Spokane, WA, 12 March, 2003, Mines Management, Inc., (MNMM: OTC BB) - Junior mineral exploration and development company, Mines Management, Inc., (" Mines" ) acquired full ownership of the Montanore silver-copper deposit in northwestern Montana in August, 2002, when their 90% joint venture partner and operator, Noranda Minerals, elected to withdraw from the project.

Acquisition of the Montanore, the premier silver deposit in North America, places Mines among the top tier of silver companies in the world with an estimated 260 million ounces silver and 2 billion pounds copper, alongside Apex Silver, Pan American Silver, and Silver Standard Resources.

Mines was previously a 10% minority partner in the Montanore Project that commenced in 1988 as a result of their ownership of patented claims controlling a proportionate share of the mineralization.

Work done on the project by previous operators included approximately 70,000 feet of diamond core drilling, construction of a 14,000 foot exploration tunnel, project permitting and an approved Environmental Impact Study (EIS). In total, Noranda had expended more than $100 million toward development of the project prior to suspension of activities in the early 1990`s.

Noranda discontinued development of the project in 1992 as a result of poor economics and challenges raised by governmental agencies regarding the release of nitrates into local surface water as a result of blasting during construction of the exploration tunnel. At that time, the company opted to discontinue development of the project rather than to install a treatment facility to remove the nitrates from the water.

Mines plans to move the project forward toward the prefeasibility stage and is currently in the process of assimilating all assets and intellectual property related to the project, raising capital and building its corporate structure to more appropriately reflect the current stage of development and the substantial size and scope of the Montanore Project.

Engineering studies anticipate a mining and processing capacity of approximately 17,500 tons per day yielding in excess of 10 million ounces silver and 90 million pounds copper per year.

" In analyzing the original mining plan," said the company`s CEO, Glenn Dobbs, " our engineering team is currently assessing alternatives to further enhance the economics of an outstanding project."

Director Bob Russell stated, " A number of significant revisions have been identified that can improve both the economics and environmental acceptability of the venture." Mr. Russell`s previous activities included designing and managing the expansion of the giant Grasberg Project on behalf of Freeport McMoran Copper & Gold (NYSE: FCX).

Toward heightening its visibility in the market, Mines intends to participate in the numerous mining investment conferences throughout the year including the Las Vegas Gold Show, sponsored by International Investment Conferences (IIC), on April 26 & 27th, 2003, booth number 1201.

Pressemitteilung vom 22.07.2003:

MINES MANAGEMENT APPOINTS NEW BOARD MEMBER

Spokane, WA, 22 July, 2003 - Mines Management, Inc.(MNMM: OTC BB) is pleased to announce appointment of Mr. Glenn M. Dobbs to the company`s board of directors. Mr. Dobbs was appointed President and C.E.O. of the company earlier in the year and heads the effort to advance the company following acquisition of the Montanore silver project in western Montana.

Mr. Dobbs replaces Mr. Jack Gustavel who recently resigned from the board to pursue other interests. " Mines Management, its board and shareholders are very appreciative of the years of contribution Mr. Gustavel has made to the company, and wish him success with his other endeavors," stated Dobbs.

Mines Management, Inc. acquired the Montanore silver-copper project late last year when its previous operator elected to withdraw from the project. Accordingly, Mines Management assumed 100% ownership of the project and has taken possession of all intellectual property and the drillcore associated with the project.

Acquisition of the Montanore, containing a resource of more than 260 million ounces of silver and 2 billion pounds of copper, ranks Mines Management in the top tier of silver companies in the world on the basis of resources. Over 20 years, more than $100 million has been expended on the project including drilling, engineering, feasibility studies, an approved Environmental Impact Statement (EIS), and construction of a 14,000 foot adit.

The company is in the process of developing a revised mining plan toward initiating the repermitting process and plans to advance the project toward development in anticipation of higher silver prices. The company`s director of mining, Mr. Bob Russell, leads development of the mining plan and has stated, " A number of revisions have been identified that we believe can improve both the economics and environmental acceptability of the project." Mr. Russell`s previous tenures included general manager of Freeport Indonesia`s Grasberg Project, one of the largest mines in the world.

This release contains certain forward-looking statements within the meaning of the Federal Securities Laws. Such statements are based on assumptions that the Company believes are reasonable but which are subject to a wide range of uncertainties and business risks. Factors that could cause actual results to differ from those anticipated are discussed in the Company`s periodic filings with the Securities and Exchange Commission (at http://www.sec.gov), including its annual report on Form 10-KSB for the year ended December 31, 2002. Further information about Mines Management, Inc. can be reviewed on the company`s website at http://www.minesmanagement.com, or by contacting the company directly.

Pressemitteilung vom 03.09.2003:

MINES MANAGEMENT COMPLETES $1.2 MILLION FINANCING

Spokane, WA, 3 September, 2003 - Mines Management, Inc. (MNMM: OTC BB) is pleased to announce the completion on August 29, 2003, of a non-brokered private placement, which raised US$1,267,207 by issuance of 1,152,007 units at a price of US$1.10 per unit. Each unit consists of one common share and a warrant exercisable at US$1.20 into one common share for a period of two years from the subscription date. The financing was placed globally with investors in the United States, Canada, Brazil, Mexico and Malaysia.

Funds from the financing will be used to advance the Montanore silver-copper project located in Sanders County, Montana, and for working capital. The company`s President and C.E.O., Glenn M. Dobbs commented, " We are very pleased at completing this financing as it sets the foundation from which the company will advance development of the premier silver project in North America as we work to add shareholder value." The company anticipates initiating re-permitting of the project in early 2004.

Acquisition of the Montanore Project in August, 2002, with contained mineralization of more than 260 million ounces of silver and 2 billion pounds of copper, places Mines Management in the top tier of silver companies in the world. Over a period of 20 years, more than $100 million has been expended on the project by previous operators on activities including drilling, engineering, feasibility studies, an approved Environmental Impact Statement (EIS), and construction of a 14,000 foot evaluation adit.

This release contains certain forward-looking statements within the meaning of the Federal Securities Laws. Such statements are based on assumptions that the Company believes are reasonable but which are subject to a wide range of uncertainties and business risks. Factors that could cause actual results to differ from those anticipated are discussed in the Company`s periodic filings with the Securities and Exchange Commission (at http://www.sec.gov), including its annual report on Form 10-KSB for the year ended December 31, 2002. Further information about Mines Management, Inc. can be reviewed on the company`s website at http://www.minesmanagement.com, or by contacting the company directly.

Pressemeldung vom 05.02.2004

Mines Management: Silver Company Files for American Stock
Exchange Listing

Business Editors SPOKANE, Wash.--(BUSINESS WIRE)--Feb. 5, 2004 Mines Management, Inc. (OTCBB:MNMM), owner of the Montanore Silver-Copper Project in Sanders County, Montana, announced today the filing of its application to list the company`s common shares on the American Stock Exchange (Amex). Currently, the company`s shares are quoted on the Over-the-Counter Bulletin Board under the symbol " MNMM."

The Amex listing, if approved, will provide enhanced investment opportunities for investors, investment professionals and institutions, and is part of the company`s effort to improve liquidity in the stock for its shareholders.

Mines Management, Inc. is a mineral development company. The 2002 acquisition of the Montanore Project, containing 260 million ounces of silver and 2 billion pounds of copper, placed Mines Management in the top tier of silver companies in the world. Over a period of 20 years, more than $100 million has been spent on the project by previous operators on drilling, engineering & feasibility studies, environmental assessment, an approved Environmental Impact Statement (EIS), and construction of a 14,000 foot evaluation adit.

With recent dollar weakness and the prospects for continued growth in the prices of silver and copper, the company plans to advance the Montanore Project toward development. Completion of a revised mine plan, with improved economics, is planned for the first quarter of this year and will be used as the foundation for initiation of the re-permitting process.

This release contains certain forward-looking statements within the meaning of the Federal Securities Laws. Such statements are based on assumptions that the Company believes are reasonable but which are subject to a wide range of uncertainties and business risks. Factors that could cause actual results to differ from those anticipated are discussed in the Company`s periodic filings with the Securities and Exchange Commission (at http://www.sec.gov), including its annual report on Form 10-KSB for the year ended December 31, 2002.

Further information about Mines Management, Inc. can be reviewed on the company`s website at http://www.minesmanagement.com, or by contacting the company directly.

CONTACT: Mines Management, Inc. Douglas Dobbs, 509/838-6050 Fax: 509/838-0486 Email: info@minesmanagement.com Website: http://www.minesmanagement.com

Pressemeldung vom 06.02.2004

Mines Management Announces Completion of $5 Million
Financing

SPOKANE, WASHINGTON--Mines Management, Inc. (OTCBB:MNMM)
announced today the completion of a $5 million private placement
to certain institutional investors of 1,000,000 units of the
Company`s common stock, together with warrants to acquire
additional shares of common stock. The units consist of one share
of common at $5.00, and 1/4 of a share purchase warrant at an
exercise price of $7.25. Term of the warrants is 5 years.
Exercise of all warrants would yield additional cash proceeds to
the Company of $1,812,500.

The Shemano Group, Inc, a San Francisco based investment banking
group, introduced the investors to the company and acted as
placement agent in the transaction. The shares of common stock
have not been registered under the Securities Act of 1933 and may
not be subsequently offered or sold by the investors absent
registration or an applicable exemption from the registration
requirements. The company has agreed to file a registration
statement covering the resale of the securities issued in this
transaction.

Mines Management, Inc. is a U.S. based public mineral development
company focused on the exploration and development of silver
dominant deposits. The 2002 acquisition of the Montanore
silver-copper project, containing 260,000,000 ounces of silver
and 2 billion pounds of copper, places the Company in the top
tier of silver companies in the world.

Further information about Mines Management, Inc. can be reviewed
on the company`s website at http://www.minesmanagement.com, or by
contacting the company directly.

-30-

FOR FURTHER INFORMATION PLEASE CONTACT:
Mines Management, Inc.
Douglas Dobbs
509-838-6050
509-838-0486 (FAX)
info@minesmanagement.com
http://www.minesmanagement.com

Silberproduktion in Mio.Unzen:
1990, 1991, 1992, 1993, 1994, 1995
653,0 654,7 635,9 618,4 603,3 642,2

1996, 1997, 1998, 1999, 2000, 2001, 2002
646,1 692,2 737,3 724,1 763,6 771,9 770,8

Silberverbrauch in Mio.Unzen:
1990, 1991, 1992, 1993, 1994, 1995
720,9 698,6 704,9 771,6 756,3 769,6

1996, 1997, 1998, 1999, 2000, 2001, 2002
798,6 844,4 828,5 868,7 908,6 868,5 838,2

Silberdefizit in Mio.Unzen:
1990, 1991, 1992, 1993, 1994, 1995
67,9 43,9 69,0 153,2 153,0 127,4

1996, 1997, 1998, 1999, 2000, 2001, 2002, 2003
152,5 152,2 91,2 144,6 145,0 96,6 67,4 70-100?

Das Defizit besteht seit 13 Jahren in ununterbrochener Folge und beträgt kumuliert von 1990 bis 2002 1.463,9 Mio.Unzen
(durchschnittlich 112 Millionen Feinunzen pro Jahr).

Ich schätze das Silberdefizit in 2003 auf 70-100 Mio.Unzen. Das ist das 14 Jahr in Folge!

Also sind wir aktuell im 15 Jahr, in dem die Silbervorräte schwinden.

Veröffentlichte und geschätzte Silberlagerbestände (Jahresende 2002):

verfügbare Lagerbestände für industriellen Verbrauch 168 Mio.Unzen!

Wenn man für 2003 70 Mio.Unzen von den Lagerbeständen (168 Mio.) abzieht, bleibt höchstens ein Restbestand von 98 Mio.Unzen Ende 2003!

Wenn man für 2004 nochmals 70 Mio. Unzen an Verbrauch rechnet,bleibt nicht mehr viel übrig..............

Analyse zu MNMM:

http://www.contrarianthinker.com/mmmm%20silver.htm

MNMM ist um den Faktor 70 unterbewertet. Silber kann um den Faktor 20 steigen. Das gibt eine Vertausendvierhundertfachung.

O.K., langsam!

-Kupfer wird weit weniger steigen als Silber. Da sind wir nur noch bei 900*
-MNMM wird öfter Kapital ansaugen und neue Aktien drucken. Nur noch 400*
-Der Dollar wird an Wert verlieren. Nur noch 300*
-Silber wird die hohen Stände möglicherweise nur kurz sehen. Nur noch 150*
-Silberaktien stehen im besten Fall auf 1/2 der Reserven. Nur noch 75*.
-Bei schnell steigendem Silber werden die Aktien einen Rückgang einpreisen. Nur noch 40*.

So weit, so gut. Faktor 40 in 5 Jahren ist mal mehr, als ich vom Silber erwarte, und dieser Faktor wäre in Euro. Faktor 20 beim Silber ist in Dollar und möglicherweise nur ein Spike. Ich glaube, man ist mit Silberaktien schon richtig, nur dei teuren sollte man nicht mehr kaufen. Da nimmt man besser Silber physisch. SSRI, SRLM und CA:CZN gefallen mir auch gut.

Ich bleibe auf jeden Fall bei meinem Kursziel von 20$ bis Ende Juni.

Folgende Punkte sprechen dafür:

- geringe Marktkapitalisierung (50 Mio.$)
- hohe Reserven (derzeiter Wert ca. 4,2 Mrd.$)
- geringer Bekanntheitsgrad
- steigender Silber- und Kupferpreis
- gutes Management
- hervorragende Aktionärspolitik
- marktenge der Aktie
- ein anstehendes AMEX-Listing (bisher OTC)

So Leute,dass war vorerst alles was ich zu MNMM schreibe. Dürfte für den Anfang genügen.

Viel Spaß

Gruß
toschi

Goldjunge

Mit MNMM mußte Dich beschäftigen, dann kommen diese Fragen nicht.

Schönen Abend.