Mines Management Inc./ MGN (AMEX)

    Schwabenpfeil


    Noranda gab das Projekt auf, weil es alle Projekte in den USA aufgab. Das lag an Problemen mit Exporten in die USA, wo sie wegen Einfuhrzöllen Verluste machten. Zudem hätte Noranda 350 Mio. für die Mine aufbringen müssen, was die Kosten pro Unze auf 8-10 USD/Unze getrieben hätte.


    Da MGN ein kleineres Projekt plant, und die Kosten für die Förderung etwas gefallen sind, und die Preise für Kupfer und Silber mitlerweile deutlich anziehen, sieht es für MGN deutlich besser aus. Sie planen mit 170-250 Mio. für die Fertigstellung der Mine


    Sinnvoll wäre eine Finanzierung über neue Aktien. Wenn es z.B. gelingt, neue Aktien zu 20 USD zu plazieren, wären nur 10-12 Mio. neue Aktien nötig, und das Projekt ist finanziert! Daher auch die Untätigkeit bisher. Je höher der Aktienkurs, umso besser für die Finanzierung. Und mit steigendem Silber wird auch MGN weiter steigen.


    gruß
    toschi

    Schwabenpfeil


    1. \$12/ton means the average cash cost to process each ton of ore
    during the period it is designed to operate.
    2. Each ton of ore contains about 1.9 ounces of silver and 15 pounds of
    copper. Using current metals prices, if we convert all of the copper into
    the value of silver, then each ton of ore contains a total of 4.50 ounces of
    silver equivalent (1.9 ounces of silver plus the value of the copper in
    silver terms). \$12/ton cash cost / 4.50 = \$2.67/ounce cash cost.
    Another way of looking at it is for each ton of ore there is 1.9 ounces of
    silver and 15 pounds of copper, with value of \$11.97 for silver and \$16.20
    for copper. The amount received for the copper is considered a copper
    credit, and used to further offset the cash cost of operating the mine.


    I hope this is helpful, and will try to answer your inquiries promptly in
    the future. We receive many communications, and so it sometimes takes time
    to respond.


    Thank you for your support of Mines Management.


    Kind regards,
    Douglas Dobbs

    Hallo totschi,


    danke für die zusätzlichen Erläuterungen, die wirklich interessant waren. Ich werde MGN mal auf die Watchlist nehmen und mich weiter mit dem Wert beschäftigen. Wäre auch schön ,wenn sich einer der Erfahrungsträger im Board mal "drüberbeugen" könnte und hier seine Meinung posten würde ... ;)


    Gruß
    Schwabenpfeil

    Die Börse ist wie ein Paternoster. Es ist ungefährlich,
    durch den Keller zu fahren.


    Man muss nur die Nerven bewahren !

    # Schwabenpfeil,


    ich halte eine größere Position mit unterschiedlichen Einstiegskursen,meine Empfehlung wäre versuche einen Einstieg bei $ 5.80, letzter Kurs 6,22 vieleicht kommt der Wert ja noch mal auf $ 5.80 zurück, meine Infos die ich habe sagen mir MGN ist ein Kauf!
    gruß hpoth

    @hpoth


    So sieht es aus 8)


    @pokibeloki


    Das können die meisten nicht mehr. Warten meine ich. Die meisten halten sich für Langfristanleger, wenn sie ne Aktie drei Wochen halten. Sperrt MGN weg. Laßt sie liegen und wartet einfach ab.
    Da wird man am wenigsten verkehrt machen.


    Gruß
    toschi

    Mines Management Quarterly Update and Progress Report on the Montanore Silver-Copper Project

    Friday , September 17, 2004 13:36 ET

    SPOKANE, Wash., Sep 17, 2004 (BUSINESS WIRE) -- Mines Management, Inc. (Amex:MGN) announces updates to the company's operations and second quarter financial results. During the second quarter, the company incurred a net loss of $239,483, or $0.02 per ordinary share, compared to a net loss of $184,167, or $0.03 per share for the same period last year. In the first half, the company incurred a net loss of $1.8 million, or $0.19 per share, compared to $574,842, or $0.09 per share. At June 30, 2004, Mines Management's cash and equivalents amounted to $6.9 million due primarily to the successful completion of a financing totaling 1.2 million shares, plus the exercise of warrants by certain shareholders, and the company maintained a position of no long term debt. Mines Management continued with the advancement of the Montanore Project and had negligible revenues during the quarter.


    As reported earlier, advancement of the Montanore has continued with the completion of revisions to the Montanore mine plan as originally conceived by its previous owner. The revised plan for developing the Montanore Mine envisions an operation processing 12,500 tons of ore per day, yielding approximately 8 million ounces of silver and 60 million pounds of copper per year at a cash cost of under $2.90 per ounce.


    Mines Management acquired ownership of the Montanore Project in August, 2002, when the previous owner, Canadian miner Noranda Minerals (NYSE:NRD), withdrew from the project due to low metals prices at the time. Noranda had spent an estimated $100 million on the project over fourteen years.


    Work conducted by Noranda included, among other things, environmental assessment that led to an approved Environmental Impact Statement (EIS) and full project permitting. Permits were allowed to expire when Noranda withdrew from the project in 2002. Mines Management recently announced the decision to initiate the re-permitting process, estimated to take 18-24 months.


    Following the end of the quarter, Mines Management announced the hiring of Eric Klepfer as vice president of operations, a specialist in permitting and the construction of mining projects. Klepfer previously worked for major mining companies including Coeur d'Alene Mines, Newmont Mining and Placer Dome, and will oversea the recently announced re-permitting effort for the Montanore.


    The Montanore deposit contains approximately 260 million ounces of silver and 2 billion pounds of copper, placing it in the top tier of silver deposits in the world on the basis of contained mineralization.


    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, including its annual report on Form 10-KSB for the year ended Dec. 31, 2003.


    Further information about Mines Management, Inc. can be reviewed on the website for the Securities and Exchange Commission at http://www.sec.gov or on the company's website at http://www.minesmanagement.com.


    SOURCE: Mines Management, Inc.



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


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    Copyright (C) 2004 Business Wire. All rights reserved.



    -0-



    KEYWORD: WASHINGTON
    INDUSTRY KEYWORD: MINING/METALS
    EARNINGS



    STOCK SYMBOLS: [(mgn)]

    MGN: Short Interest UP 8.2% to 38.0K in Sep 2004

    Tuesday , September 21, 2004 16:15 ET

    According to new short interest data from AMEX, short interest for Mines Management Inc (AMEX: MGN) INCREASED 8.2% to 38,020 shares for the month ended mid-September, 2004.



    SYMBOL AUGUST SEPTEMBER CHANGE %CHANGE DAYS/COVER-------- ------------- ------------- ------------- ------------ ----------MGN 35,135 38,020 +2,885 +8.21% 1
    Based on MGN's 20-day average daily share volume of 39,875, it would require approximately 1 day(s) of buying to cover this short interest.

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