Mines Management Inc./ MGN (AMEX)

    Derzeit scheint es gesteigertes Interesse an Weltklassedepots mit längeren Vorlaufzeiten die gerade in der Genehmigungsphase sind und erst mittelfristig produzieren werden, geben.


    Gabriel Resources (GBU.TO) hat auch so ein Projekt mit ähnlichen Schwierigkeiten und Zeithorizont laufen und ist fast parallel mit MGN um 20% gestiegen.


    Ob hier langfristig orientierte Investoren am Werk sind ?(


    Viele Grüsse,
    harpo

    Hallo Harpo,


    wer da am Werk ist, kann man nicht ausmachen. MGN ist einfach zu billig zu den anderen Minen. Das ist offensichtlich. Ich erwarte aber erstmal eine Korrektur bis 4,4-4,5$. Bis dahin sind noch zwei Gap`s offen, die in der Regel geschlossen werden. Wichtig ist, dass der Abwärtstrend beendet ist. Rücksetzer sind also gute Kaufchancen.

    etwas verspätet:


    SILVER INVESTOR NEWSLETTER
    21307 Buckeye Lake Ln., Colbert, WA 99005.
    Monthly, 1 year, $99. http://www.silver-investor.com.


    Mines Management: Opportunity to leverage silver market


    David Morgan: "Companies in the mining sector with the most growth potential are typically exploration stage companies. Due to the prospective nature of exploration, a company's share price will grow in anticipation of the results, and the possibility that they might hit it big.


    On the other hand, companies that have already discovered a deposit have usually also seen the greatest extent of speculative buying. Not so with Mines Management (AMEX MGN http://www.minesmanagement.com). I have written at length about how they acquired the Montanore Silver Deposit in northwestern Montana, and so far the shares have been reflective of not only the added value of acquiring 260 million ounces of silver at such a low cost, but also their success at building a company essentially from ground zero to an Amex listing within about eighteen months. What the shares don't yet reflect are the prospects of where they're going from here.


    The key to becoming the sixth largest silver mine in the world is to get it permitted first.


    When Mines Management acquired the Montanore from its previous operator, the project's operating permits had expired, and we knew Mines would be required to re-permit it. Now, with the right people and funding, the company is in the process of initiating the re-permitting process, and I predict that by the time they're done, the shares will be more reflective of a permitted project on par with the likes of Apex Silver and Silver Standard.


    There are several reasons as to why I'm confident they'll get it done, but the best reason is the people. About six weeks ago at the Las Vegas Gold Show, I met the person they hired who would spearhead the re-permitting process. His name is Eric Klepfer and he came to Mines Management from Coeur d'Alene Mines, the world's largest primary silver producer. Prior to that, he was with Newmont and Placer Dome. Eric's experience as a specialist in environmental assessment and permitting really shows when talking with him. He also has a great ability to connect with people, and I am told he is developing excellent working relationships with the permitting people in Montana. One of the keys is to get the permitting agencies to agree on the process; so they are currently negotiating a Memorandum of Understanding that will detail the time and process to getting it done. For those who are skeptical of permitting in Montana, you may be less skeptical when they announce the signing of the MOU. So, stay tuned. Successful permitting of the Montanore could be as profitable to investors as a successful drill program,
    and the MOU is just the first drill hole.


    By the time the project is permitted, I expect the shares to trade at a comparable valuation to the other major silver companies, in the range of $10-$20 depending upon the silver price."

    Eine wirklich gute Meldung für MGN.


    Governor Schweitzer sagt seine volle Unterstützuing für das Montanore Projekt zu.
    Das ist deshalb so wichtig, weil Montanore in einem Naturschutzgebiet liegt und die Bevölkerung von Montana da sehr happig ist.


    MGN will ja kein Cyanide Verfahren benutzen. Canyon Resources wurde
    ja anlässlich der für sie negativen Abstimmung anlässlich der US-Präsidentschaftswahl gnadenlos in den Keller geschickt.


    Ich halte das für die weitere Entwicklung von MGN für sehr wichtig, könnte auch die Durchführung beschleunigen.
    Die Börse sieht es noch nicht so. Nur + 3%.
    Na, dann vielleicht morgen!


    Tschonko


    Bericht: http://biz.yahoo.com/bw/050222/225886_1.html

    [Blockierte Grafik: http://pacific.fws.gov/bulltrout/images/Bulltrout.jpg]
    Der Bull Saibling hat - zusammen mit dem Grizzly - ein Minenprojekt in Montana vorerst gestoppt.


    Was wird das für das Montanore-Projekt bedeuten?


    Judge halts Revett's Rock Creek silver project
    By: Dorothy Kosich
    Posted: '31-MAR-05 05:00' GMT © Mineweb 1997-2004


    RENO--(Mineweb.com) A Montana federal district judge has voided U.S. Fish and Wildlife approval of the Rock Creek underground silver project located near the Cabinet Mountains Wilderness area in northwestern Montana.


    Federal District Judge Donald Malloy found that the Fish and Wildlife Service failed to properly consider the possible harm of the Rock Creek silver mining project to grizzly bears and bull trout in the area. The Cabinet Mountains covers 93,000 acres and is populated by wildlife including bears trout, wolverines, lynxes and mountain goats.


    The mine was the subject of a full-page advertisement published last year in the Washington Post by Michael Kowalski, President and CEO of Tiffany & Co. In the ad, Kowalski urged the federal government to reject the mine.


    In a news release issued Wednesday, Earthjustice proclaimed the decision "a major victory for grizzly bears, bull trout and the people of northwest Montana." Earthjustice had filed a lawsuit with the federal court on behalf of the Rock Creek Alliance, Cabinet Resource Group, Natural Resources Defense Council, Sierra Club, Trout Unlimited, Idaho Council of Trout Unlimited, Pacific Rivers Council, Earthworks/Mineral Policy Center and the Alliance for the Wild Rockies.


    Earthjustice's attorneys argued that the proposed mining operation would have resulted in the loss of 7,000 acres of habitat "that would be devastating to the 15 or fewer grizzly bears that survive in the Cabinet Mountains. In the ruling, the court noted evidence that the area's tiny grizzly bear population appears to be declining and concluded, `given the clear possibility that bears are at least not increasing, contemplating the loss of additional bears related to the mine is not rational.' "


    "I think this ruling is an important step in recognizing the uniqueness of the Cabinet Mountains Wilderness," said Peter Lupsha of Trout Creek, Montana. "We know there are bull trout in Rock Creek and grizzly bears in Rock Creek Meadows, but the Fish and Wildlife Service has ignored this and glossed our our concerns."
    Weiter:
    http://www.mineweb.net/sections/whats_new/428487.htm

    Ulfur,
    ich meine. mgn ist da nur bedingt betroffen.


    Schau dir mal die Karte an.
    http://www.minesmanagement.com/montanore.html


    Sie liegen am Rande/noch drinnen vom Naturschutzgebiet Rock Creek.
    Es ist aber doch einiges an Unsicherheit drinnen, und zwar trotz der Unterstützungserklärung des Gouvernors von Montana.


    Tschonko

    Besonders klar ist mir die Karte nicht. Aber ist wohl so, daß das Vorkommen im Naturschutzgebiet Cabinet Mountains Wilderness Area liegt.
    Letzter Quartalsbericht: " Obtaining required permits for Montanore Project may be more difficult due to its location within the Cabinet Wilderness Area." " The deposit outcrops near the border of, and lies entirely within the Cabinet Wilderness Area."


    Die Aktionen der Umweltschützer scheinen sich jedoch bislang nicht gegen das Monatoreprojekt zu richten.

    MGN ist wirklich ein Top Pic bezogen auf die derzeitige Bewertung. Mit ein Grund dafür, warum Sie noch so preiswert sind, ist mit Sicherheit die Portion Unsicherheit die bzgl. der Genehmigungen mitspielt.


    Noranda hatte die Genehmigung ja bereits für das Gebiet; das beruhigt mich :))


    Nach Canyon Resources ist die Rock Creek-Geschicht aber nun die zweite Story die aufgrund des Umweltschutzes gekippt wurde, das beunruhigt mich X(


    Ist zwar nicht meine Art, aber ich habe mal einen Stop/Loss gesetzt, bei dem ich so +/- 0 rauskomme. Hoffe aber eigentlich immer noch auf einen satten Gewinn und bleibe auf jeden Fall drin.

    An In-The-Money Call On Silver Listed on AMEX


    By David J. DesLauriers
    07 Apr 2005 at 02:00 PM EDT


    TORONTO (ResourceInvestor.com) -- Mines Management [MGN] is the sole owner of a behemoth deposit in Montana comprising 260 million ounce of silver and 2 billion pounds of copper.


    The Montanore project was acquired in 2002 from previous operator Noranda [NRD]. Canada's largest mining company invested 14 years in Montanore, completing $125 million of development work on the site. Expenditure included 70,000 feet of diamond core drilling, a complete mine plan and feasibility study, a 14,000 ft evaluation adit, and a fully approved Environmental Impact Study. That's a wealth of information that to be tapped as MGN optimises a production plan.


    Mentioning mining hostile Montana to an investor can leave him queasy, but Montanore is planned to be an underground mine. That ensures it will not be caught up in the disastrous Initiative 147. More importantly, Noranda permitted the project with an EIS in 1993 and all of the nuisance suits brought by various green groups were rejected, such that there is now a Federal Court precedent in favour of Montanore. Not only that, the newly elected Governor of Montana, Bryan Schweitzer, a Democrat who made his living in natural resources, has publicly announced his support for the project which is located in a part of the State that currently suffers from 18% unemployment.


    Based on some of Noranda’s original work, the company has set a timeline for the project, and adumbrated the cost of mining. An updated feasibility study and re-permitting will take between 12-24 months to complete. With $6.4 million presently in the treasury, it is likely MGN may look to do a raising of $20-$40 million over the next 12-18 months. A TSX listing could also be in the cards to take advantage of the Canadian broker dealer network's fund-raising ability.


    Subsequent construction would take 24-30 months and the cost to enter production would be sizeable; somewhere in the range of $250-$350 million. As stated to Resource Investor, MGN is in a very good position to handle a financing of this magnitude through the skills of director Robert Russell, who once managed and oversaw an expansion of the goliath Grasberg Mine.


    Using $1.10 copper as a by-product credit, production costs are estimated to be $2.90 per ounce of silver produced. Production levels, using the base case scenario, would be 8 million ounces per year making Montanore the world’s sixth largest silver mine.


    With only 13.3 million shares fully diluted, MGN’s present market capitalization net of cash is $65 million, suggesting that the market is currently valuing their silver at about $0.25 per ounce. This is a fraction of its peer group which includes companies such as Apex Silver [AMEX:SIL], Western Silver [AMEX:WTZ] and Silver Standard [NasdaqNM:SSRI].


    The point that the market seems to be overlooking is that unlike some of its competitors, Mines Management’s ounces are all in the money. They are not simply hoarding ounces that will be feasible (hopefully) north of $10 silver. Nor is it the case with MGN, as with some others that their ounces are scattered over the globe, their eventual economic viability difficult to measure.


    Production may be five years away but in the meantime, the company’s shares will act as a leveraged proxy for silver, representing one of the few in-the money calls that can also boast economically viable ounces.
    http://www.resourceinvestor.com/pebble.asp?relid=9064

    Hab mich gestern von 2/3 meiner MGN getrennt. Den Rest behalte ich wie Eldo als Optionsschein ohne Verfallsdatum. Rein in die Schublade und wenn Sie mal über 10$ stehen hol ich sie wieder raus aus der Kiste und überlege was ich damit mache. Bei steigendem Silberpreis und ohne Probleme mit Umweltschützern kann das ja sehr schnell der Fall sein bei dem Hebel. :P


    Deshalb....genug Gedanken über MGN gemacht....wenn Sie performen...gut wenn nicht.....dann werden Sie eben abgeschrieben...Pech gehabt. Ich habe meine MGN Position auf jeden Fall so reduziert, dass mich ein Totalverlust natürlich ärgern aber nicht in den Ruin treiben würden X(. Wenns nach Norden geht hab ich auf jeden Fall noch a bisserl was drin :)).

    An In-The-Money Call On Silver Listed on AMEX


    By David J. DesLauriers
    07 Apr 2005 at 02:00 PM EDT



    TORONTO (ResourceInvestor.com) -- Mines Management [MGN] is the sole owner of a behemoth deposit in Montana comprising 260 million ounce of silver and 2 billion pounds of copper.


    The Montanore project was acquired in 2002 from previous operator Noranda [NRD]. Canada's largest mining company invested 14 years in Montanore, completing $125 million of development work on the site. Expenditure included 70,000 feet of diamond core drilling, a complete mine plan and feasibility study, a 14,000 ft evaluation adit, and a fully approved Environmental Impact Study. That's a wealth of information that to be tapped as MGN optimises a production plan.





    Mentioning mining hostile Montana to an investor can leave him queasy, but Montanore is planned to be an underground mine. That ensures it will not be caught up in the disastrous Initiative 147. More importantly, Noranda permitted the project with an EIS in 1993 and all of the nuisance suits brought by various green groups were rejected, such that there is now a Federal Court precedent in favour of Montanore. Not only that, the newly elected Governor of Montana, Bryan Schweitzer, a Democrat who made his living in natural resources, has publicly announced his support for the project which is located in a part of the State that currently suffers from 18% unemployment.


    Based on some of Noranda’s original work, the company has set a timeline for the project, and adumbrated the cost of mining. An updated feasibility study and re-permitting will take between 12-24 months to complete. With $6.4 million presently in the treasury, it is likely MGN may look to do a raising of $20-$40 million over the next 12-18 months. A TSX listing could also be in the cards to take advantage of the Canadian broker dealer network's fund-raising ability.


    Subsequent construction would take 24-30 months and the cost to enter production would be sizeable; somewhere in the range of $250-$350 million. As stated to Resource Investor, MGN is in a very good position to handle a financing of this magnitude through the skills of director Robert Russell, who once managed and oversaw an expansion of the goliath Grasberg Mine.


    Using $1.10 copper as a by-product credit, production costs are estimated to be $2.90 per ounce of silver produced. Production levels, using the base case scenario, would be 8 million ounces per year making Montanore the world’s sixth largest silver mine.


    With only 13.3 million shares fully diluted, MGN’s present market capitalization net of cash is $65 million, suggesting that the market is currently valuing their silver at about $0.25 per ounce. This is a fraction of its peer group which includes companies such as Apex Silver [AMEX:SIL], Western Silver [AMEX:WTZ] and Silver Standard [NasdaqNM:SSRI].


    The point that the market seems to be overlooking is that unlike some of its competitors, Mines Management’s ounces are all in the money. They are not simply hoarding ounces that will be feasible (hopefully) north of $10 silver. Nor is it the case with MGN, as with some others that their ounces are scattered over the globe, their eventual economic viability difficult to measure.


    Production may be five years away but in the meantime, the company’s shares will act as a leveraged proxy for silver, representing one of the few in-the money calls that can also boast economically viable ounces.


    ----------------------------------------------------------------------------------------------




    Be careful, bulls...
    Posted by Pensioner on 08 April 2005 @ 02:53 PM
    Yours and Westerfield's comments are only valid (or at least more so) during the exploration stage. Once a project has a Bankable Feasibility Study, EIS and the like, you cannot bet on rising commodity prices, alone. The NPV must be calculated and it's sensitivities understood. You must be cognizant of the operating margin, and it's ability to fund (repay) project debt. As well, at the time of Noranda's work there was environmental bonding insurance available - these days, Montana and many/most western states have been requiring cash bonding, and for a $350 million project, that could be a substantial sum of "restrricted cash". Better add that in, too... In this case, you must be willing to bet on an outcome that disfavours the USFWS and environmental challengers - your view of commoditiy prices, and even NPV, is moot. Good luck!

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