UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): March 2, 2011
MINES MANAGEMENT, INC.
(Exact name of registrant as specified in its charter)
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Idaho |
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001-32074 |
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91-0538859 |
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(State or other jurisdiction of |
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(Commission |
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(I.R.S. Employer |
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905 W. Riverside Avenue, Suite 311 |
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99201 |
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(Address of principal executive offices) |
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(Zip Code) |
Registrant’s telephone number, including area code: (509) 838-6050
No Change
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act
Item 8.01 Other Events
Mines Management, Inc. (the “Company”) is filing this Current Report on Form 8-K to provide shareholders preliminary unaudited summary financial information for the fiscal year ended December 31, 2010. The information presented below are estimates and subject to the completion of the Company’s financial statements and audit for the fiscal year ended December 31, 2010. Actual results may vary from those contained in this Current Report on Form 8-K. Audited financial results will be provided in the Company’s Annual Report on Form 10-K for the year ended December 31, 2010, which will supersede this summary financial data.
Summary Financial Data
(Unaudited)
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Year Ended |
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Statement of Operations Data |
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$ |
16,839 |
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Royalty revenue |
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Operating expenses |
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General and administrative |
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$ |
4,322,560 |
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Technical services |
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$ |
3,658,927 |
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Depreciation |
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$ |
1,022,413 |
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Legal, accounting, consulting |
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$ |
542,632 |
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Other |
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$ |
231,740 |
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Total operating expenses |
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$ |
9,778,272 |
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Loss from operations |
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$ |
(9,761,433 |
) |
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Balance Sheet Data |
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Current assets |
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Cash and cash equivalents |
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$ |
4,866,840 |
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Certificates of deposit |
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$ |
1,519,797 |
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Other |
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$ |
208,319 |
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Total current assets |
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$ |
6,594,956 |
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Property plant and equipment, net |
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$ |
4,186,402 |
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Available-for-sale securities |
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$ |
3,720,994 |
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Reclamation deposits |
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$ |
1,236,846 |
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Total assets |
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$ |
15,739,198 |
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Total Liabilities |
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$ |
3,114,196 |
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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Date: March 2, 2011 |
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Mines Management, Inc. | |
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By: |
/s/ James H. Moore |
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James H. Moore |
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Chief Financial Officer |