Thursday , September 30, 2004 12:25 ET
This is the 1st VOLUME alert for MGN in the past 7 calendar days.
Trading for Mines Management Inc (AMEX: MGN) has been heavier than usual in today's session. By 12:25 ET, the stock had already traded 75,000 shares via 49 trades. The cumulative volume is 63.52% above its 20-day average of 45,865. Normally the stock experiences around 38 individual trades per session.
So far, today's volume surge has caused a net rise in MGN's stock price. At the time of this alert, the stock was trading at $6.460, up $0.260 (+4.19%).
Eleven months ago, the Company's shares closed at $3.600. The price has gained more than 79 percent since then.
Over the last 10 trading session MGN has traded in a range between $5.530 and $6.300 and is currently trading 33.40% below its 52-week high of $9.700 set on April 06, 2004 and 126.67% above its 52-week low of $2.850 from October 06, 2003.
In the previous 3 sessions, MGN trading has displayed a positive trend. Closing results have been as follows:
September 29, 2004 --- closed at $6.200 up $0.100 (+1.64%) on 70,500 shares
September 28, 2004 --- closed at $6.100 up $0.150 (+2.52%) on 77,100 shares
September 27, 2004 --- closed at $5.950 up $0.010 (+0.17%) on 33,300 shares
The Company last released news on September 17, 2004:
"Mines Management Quarterly Update and Progress Report on the Montanore Silver-Copper Project"
MINES MANAGEMENT INC
Mines Management, Inc. has been engaged in the mining industry. The Company acquires, explores and develops properties rich in minerals, primarily those containing silver and associated base and precious metals. The Company has a wholly owned subsidiary, Newhi, Inc., which is the Company's principal mineral property interest. Newhi, Inc. consists of a net profits royalty interest in a portion of the claims making up the Montanore project.