Key Developments: Mines Management Inc (MGN.A)
10 Dec 2013
Latest Key Developments (Source: Significant Developments)
Mines Management Inc reported in its Form 8-K that effective March 26, 2013, with the promotion of Mr. Douglas D. Dobbs, Mr. Glenn M. Dobbs ceased to serve as the President of Mines Management, Inc. (Company). Glenn Dobbs continues to serve as a Director, Chairman of the Board of Directors and Chief Executive Officer (CEO) and remains the Company’s principal executive officer. Effective March 26, 2013 Mr. Douglas D. Dobbs (Mr. Dobbs), was elected President by the Board of Directors. Mr. Dobbs continues to serve as Corporate Secretary. Full Article
Canada Stockwatch News reported that James H. Moore passed away on March 18, 2013. Mr. Moore served as Chief Financial Officer (CFO) of Mines Management Inc since 2004 and served on the Boards of a number of other publicly traded companies. The Company intends to initiate a search for a replacement chief financial officer. In the interim, effective March 18, 2013, Nicole Altenburg, the Company's controller, has been appointed to serve as Principal Financial Officer and Principal Accounting Officer. Full Article
Estrella Gold Corporation Signs Agreement To Sell 75% Interest In La Estrella Gold-Silver Property, Peru To Mines Management, Inc.
Estrella Gold Corporation announced that it has signed a formal Exploration Earn-In Agreement for the sale of 75% interest in its namesake La Estrella gold and silver property to Mines Management Inc. Terms of the Agreement call for Mines Management to make payments of $550,000 over three years, work expenditures totaling $5 million, and complete a NI 43-101 compliant Preliminary Economic Analysis (PEA) on an established resource to obtain its 75% interest. Mines Management will also carry Estrella's 25% interest to production, with Estrella paying back its share of development costs from production revenues. Mines Management is planning to complete a minimum of 2,500 meters of drilling during 2012. Full Article