Mines Management Inc./ MGN (AMEX)

    Die Zyanid-Gegner haben mit deutlicher Mehrheit von 60% gewonnen;


    http://www.billingsgazette.com…ate/35-cyanide-mining.inc


    Montanans reject plan for cyanide mining


    By JENNIFER McKEE
    Gazette State Bureau


    HELENA - Voters resoundingly rejected an effort to repeal the state's ban on open pit cyanide leach mining, early election results show.


    About 60 percent of Montanans voted against Initiative 147 compared with just 40 percent voting in favor, preliminary results show.


    The Associated Press officially declared I-147's defeat shortly before 10 p.m. Tuesday.


    Moving forward


    "I'm happy and I hope all Montanans are happy," said Bruce Farling, executive director of Montana Trout Unlimited, which campaigned heavily against I-147. "I'm happy they rejected a $3 million campaign and we can move forward with responsible mining and clean water and put this one behind us."


    I-147 would have reversed the state's ban on open pit cyanide leach mining and mandated certain environmental safeguards often required before the cyanide ban passed but not specifically spelled out in law. Additionally, the initiative would have restored to companies mineral leases lost or diminished by the ban.


    Open pit cyanide leach mining is a process that extracts small amounts of gold diffused through large amounts of rock.


    Ore is mined in open pits and treated with a cyanide solution. Gold dissolves in the cyanide, which is captured and processed to extract precious metals.


    Almost all the money behind I-147 came from one out-of-state mining company, Canyon Resources Corp., which wanted to build a large open pit cyanide heap leach mine near Lincoln when voters passed the ban.



    Project leases expired


    Canyon's mineral leases for the project have since expired, although the company has challenged that in court and continues to pay money for the leases.


    The company gave just under $3 million - or about 98 percent of the total funds behind the initiative, campaign finance records show.


    "We're obviously incredibly disappointed," said Tammy Johnson, head of Miners, Merchants and Montanans for Jobs and Economic Opportunity, the group formed to promote I-147. "It's too bad we have chosen to end gold mining in the state of Montana."


    Voters were much more resounding in their rejection of I-147 than they were in passing the original 1998 ban. That effort, called Initiative 137, passed by a thin 52 to 48 percent margin.


    I-147 has already been challenged in court. A Lincoln-area landowner and the Montana Environmental Information Center filed suit this summer to keep the initiative off the ballot arguing it was unconstitutional in a number of ways. That case is now pending before Helena District Judge Jeffrey Sherlock.

    jetzt ist es abgelehnt.
    bin mal gespannt ob es heute nachmittag in ny auswirkungen hat.
    in frankfurt noch keine umsätze.


    jetzt können wir nur noch hoffen dass dobbs recht behält und diese entscheidung keinen direkten einfluss auf das montanore-project hat.


    mfg kevincito

    aus dem yahoo-forum:


    We are in the process of drafting a public update for the company's activities including re-permitting process. There is a substantial amount of work to do in the re-permitting process, and so it is not a simple
    answer,but we will attempt to post many of the pertinent items on the website within the next few days, in addition to the press release. As is the case with any
    major project, activities are not conducted in a vacuum. Share prices rarely go up overnight to the degree everyone would want, or at the same rate.
    It took Silver Standard Resources ten years to rise from approximately $0.25 per share to their current levels. Mines Management's recent share weakness could be partially attributed to Initiative-147 that failed to pass.
    This Initiative does not directly impact any of the issues related to the Montanore, but there have been many questions, and investors will shortly receive a response.
    I hope this is helpful, and greatly appreciate your patience, consideration and support.


    Douglas Dobbs
    Investor Relation
    Mines Management

    Captain Hook meinte heute, daß wir uns wohl auf 205 im HUI einstellen können. Die Technik im Gold war auch ganz oben. 205 sollten aber halten. Es spricht weiter alles für das Metall. Keine Bange.


    Lancelot

    [Blockierte Grafik: http://www.mineweb.net/pics/logo.gif]


    Montanore tests MT's shifting winds
    By: Dorothy Kosich
    Posted: '05-JAN-05 04:00' GMT © Mineweb 1997-2004


    RENO--(Mineweb.com) Glenn M. Dobbs, the President and CEO of Spokane, Washington-based Mines Management is the epitome of a savvy, honorable, distinguished, and extremely capable executive.


    A former Washington state legislator, Dobbs founded a successful bank, a commodities fund, and a gold fund. A considerable portion of his career was spent doing business both domestically and internationally. A consummate gentleman, the articulate, yet soft-spoken Dobbs surrounds himself with good people and has attracted outstanding mining professionals to his team, such as the highly respected Russell Babcock, former Chief Geologist for Kennecott, and Robert Russell, former Freeport McMoRan Vice President of Mining.


    In other words, Glenn Dobbs is no dummy and is highly respected by his peers. And, it may take all the political skills and business expertise Dobbs possesses to get a major silver-copper mine re-permitted in the notoriously anti-mining environment of Montana.


    On Tuesday, Mines Management (AMEX: MGN) announced it formally submitted a 13-volume application for re-permitting and development of the Montanore Silver-Copper project. The mineral resources of the project are not typical mining hype. In 1988 Mines Management acquired a portion of Montanore from a claimholder who had previously optioned its claims to U.S. Borax, which spent $35 million exploring the Montanore deposit, south of Libby, Montana. U.S. Borax then turned around and sold its claims to a Noranda Minerals partnership. Noranda expended more than $100 million on acquisition and development of the Montanore deposit. Noranda found a resource of 135 million tons, which contain 260 million ounces of silver and 2 billion pounds of copper. The EIS anticipated a mine life of 16 years at a production rate of 17,500 tons per day. At that rate the anticipated mine would have an average annual production of about 11 million ounces of silver and 85 million pounds of copper. The EIS and 28 permits were approved by state and federal agencies.


    Astoundingly, Montanore was literally dropped into the junior company's lap in 2002 when Noranda Minerals decided it preferred to develop projects outside of the United States. Everything, including patents and intellectual property, were quitclaimed to Mines Management.


    Since that time, Dobbs has reduced the project footprint, including processing capacity which will decline from the original 17,500 tpd to 12,000 tpd. Project capex has been reduced 40% as a result.


    Montanore may not suffer the recent fate of Canyon Resources' McDonald gold project, which went down in flames as the result of a November ballot initiative (I-147) in which 60% of Montana's urban population voted their opposition to allowing a new open-pit gold mine to use cyanide in its processes. Mining optimists say the vote to defeat the initiative was more anti-Canyon Resources than anti-mining.


    Substantial differences do exist between the two proposals. First, Montanore would be an underground mine, which may be more acceptable to Montanans. Second, a crushing, grinding flotation circuit, which doesn't use cyanide, would produce a silver-copper concentrate. Third, the revised mine plan would actually reduce the amount of waste rock deposited on the surface, and may disturb less environmentally speaking than the original plan approved in 1992. Fourth, the grizzly bear habitat of concern to environmentalists would be managed with an eye to benefiting the bear.


    The mine would employ more than 200 people and is expected to benefit a historic mining community, which now suffers from high unemployment.


    The bad news? Montanore is located beneath the Cabinet Mountains Wilderness area, sort of a backpacker's haven. ASARCO used to get regularly beat up by environmental NGOs over its proposed Rock Creek mine. The issue has been recently resurrected by Earthworks, the Rock Creek Alliance (an umbrella organization of local environmental and sportsmen's groups) and Tiffany & Co. However, Tiffany's objections were specifically aimed at Rock Creek with no mention of the Montanore project.


    In a news release issued Tuesday, Dobbs stated, "we have worked diligently to prepare an application that addresses all issues related to the development and operation of Montanore. We believe our plan will result in building and operation of a mine that will become the standard by which underground mining will be conducted well into the 21st Century. The company has been gratified with the reception we have received from the local community and its encouragement to re-permit Montanore."


    It is anticipated that the re-permitting process will take from 15 to 20 months to complete, even in the litigious and initiative-happy state of Montana.
    http://www.mineweb.net/sections/whats_new/401836.htm

    #All,
    Die Firma plant eine Europareise, sehr wahrscheinlich soll Kapital eingesammelt werden, kenn wir ja!
    Das Projekt läuft aber harzig in Montana wegen den Umweltschützlern,die sehr beharrlich sind.Die Genehmigung liegt immer noch in der Schwebe,getragen von glauben und hoffen!!So übberzeugend klingt das alles nicht,was bei den Anfragen an die Leitung herrüber kam.


    gruß hpoth

    @hpoth


    Bin nicht Deiner Meinung! Das klang alles ok. MGN ist sehr vertrauenswürdig.Das ist zumindest mein Eindruck.


    Das Projekt wird ist doch in der Genehmigungsphase. Ist also klar, dass da noch nix passiert ist. Wurde ja erst zu Jahresbeginn eingereicht. Das dauert nun mal. Noranda hatte erst nach 5 Jahren die Genehmigung für das Projekt. MGN braucht noch gut ein Jahr! Also erheblich weniger an Zeit.

    MGN in den letzten Tagen super gelaufen +33% :D


    Irgend ein fundamentaler Hintergund (ausser Unterbewertung) oder einfach nur Super-Performance bei steigendem Silberpreis???

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