Mines Management, Inc. (NYSE:MGN, AMEX:MGM, TSX:MGT) has announced the third quarter earnings for 2009. The financial report showed a net loss for the quarter of $2.3 million, or $0.10 per share. The company recorded a net loss of $3.1 million, or $0.14 per share for the same period the previous year. The decrease in net loss is attributed to the decrease in the company’s operating expenses of $1.5 million.
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The full financial report may be accessed on the company’s website, www.minesmanagement.com. For more information regarding the earnings release, contact Douglas Dobbs, Vice President Corporate Development and Investor Relations. Mr. Dobbs may be reached at 509.838.6050, 509.838.0486 (fax), or info@minesmanagement.com.
Mines Management, Inc. (MMI) is engaged in the business of acquiring and exploring, and if exploration is successful, developing mineral properties, primarily those containing silver and associated base and precious metals. The Company's principal mineral property interest, the Montanore Project, is held by its wholly owned subsidiary, Newhi, Inc. The Montanore Project is located in Sanders and Lincoln Counties in northwestern Montana and consists of two federal patented mining claims and approximately 1,059 unpatented lode mining claims and mill sites. The Company also owns certain patented and unpatented mining claims on zinc proprieties in northern Washington state referred to as the Iroquois and Advance properties. The Company had not conducted mining activities on these properties as of December 31, 2008.
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