13 July 2016director interest notice● Neutral
MINES MANAGEMENT INC President & Corp. Secretary Douglas D Dobbs exercised stock options for 150,000 shares and disposed of 150,000 shares.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
6 July 2016agm notice● Neutral
MINES MANAGEMENT INC announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).
6 July 2016business combination● Neutral
On June 29, 2016 the merger agreement with Hecla was amended to clarify the definition of shareholder approval, the courts for injunctive relief, and that the merger is intended to be a tax-free reorganization; the exchange ratio is not stated as changed. Glenn and Douglas Dobbs also gave up their tax gross-up benefits on change-in-control payments, and all remaining Series B preferred was converted into 3,932,584 common shares during the quarter ended June 30, 2016. Hecla has filed an S-4 with a preliminary proxy, so the deal is moving toward the shareholder vote.
5 July 2016director interest notice● Neutral
MINES MANAGEMENT INC director Robert L Russell exercised stock options for 60,000 shares and disposed of 60,000 shares.
28 June 2016director interest notice● Neutral
MINES MANAGEMENT INC CEO Glenn Dobbs exercised stock options for 577,379 shares and disposed of 577,379 shares.
13 June 2016director interest notice● Neutral
MINES MANAGEMENT INC director Russell C Babcock exercised stock options for 150,000 shares and disposed of 231,554 shares.
2 June 2016director interest notice● Neutral
MINES MANAGEMENT INC director Roy Franklin exercised stock options for 260,000 shares and disposed of 386,628 shares.
1 June 2016substantial holder notice● Neutral
Hecla Mining Company, HL Idaho Corp disclosed a new substantial MINES MANAGEMENT INC shareholding (19.80% of votes).
27 May 2016director interest notice● Neutral
MINES MANAGEMENT INC Prin Fin & Acct Officer, Contr Nicole Altenburg exercised stock options for 100,000 shares and disposed of 147,078 shares.
27 May 2016business combination● NeutralMajor
The formal merger agreement with Hecla (signed May 23, 2016) was filed: each Mines Management share becomes 0.2218 of a Hecla share, subject to a shareholder vote and SEC registration of the Hecla shares, and either side can terminate if the deal is not completed by August 15, 2016. Hecla also lent the company a $2.3 million secured term loan (LIBOR plus 5%), backed by substantially all assets including the Montanore Project, due by the earlier of August 15, 2016 or merger completion, and due immediately if the merger agreement ends for any reason other than a Hecla breach. The filing also shows amended severance terms for Glenn Dobbs, Douglas Dobbs and Nicole Altenburg (payable in stock at the company's option), a bylaw opting out of Idaho's control share law, and that Series B preferred stock has been converting into common (about 458 preferred shares left, convertible into about 582,500 common shares). This confirms the terms announced May 24 and adds the first debt the company has disclosed.
27 May 2016agm notice● Neutral
MINES MANAGEMENT INC announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).
24 May 2016business combination▲ GoodMajor
On May 24, 2016 Mines Management announced a merger agreement under which Hecla Mining Company, through its subsidiary HL Idaho Corp., would acquire it, with each Mines Management share exchanged for 0.2218 of a Hecla share. The release describes this as a 41% premium on a 10-day average price as of May 20, 2016, and expects closing in the third quarter of 2016, subject to a Mines Management shareholder vote and other conditions. Hecla intends to advance the Montanore evaluation program after closing. This is a proposed deal, not yet completed, so shareholders' treatment is not final.
24 May 2016agm notice● Neutral
MINES MANAGEMENT INC announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).
16 May 2016quarterly activities report▼ Bad
MINES MANAGEMENT INC reported a quarterly net loss of $1.0 million for the period ended 2016-03-31.
16 Nov 2015quarterly activities report▼ Bad
MINES MANAGEMENT INC reported a quarterly net loss of $1.0 million for the period ended 2015-09-30.
23 Oct 2015asset acquisition disposition● Neutral
On October 21, 2015 the company sold more mining equipment to the same buyer, Amalgamated Mining Inc., for $415,000, as is. This follows the $1.25 million equipment sale earlier in the month, bringing the two sales to $1.665 million.
9 Oct 2015asset acquisition disposition● Neutral
On October 6, 2015 the company sold certain mining equipment to Amalgamated Mining Inc. for $1.25 million, as is. The filing does not say what the money is for or which equipment was sold.
24 Sept 2015listing compliance notice● NeutralMajor
On September 21, 2015 the NYSE MKT accepted the company's compliance plan. It gave until September 30, 2015 to regain compliance with the financial-impairment standard or show progress, and until December 30, 2016 for the three equity standards. Failure to make progress or regain compliance could still lead to delisting. This continues the July notice: delisting is postponed, not removed.
14 Aug 2015quarterly activities report▼ Bad
MINES MANAGEMENT INC reported a quarterly net loss of $1.2 million for the period ended 2015-06-30.
8 July 2015listing compliance notice▼ BadMajor
On July 1, 2015 the NYSE MKT told the company it fails continued-listing standards: stockholders' equity was below $2, $4 and $6 million at March 31, 2015, it had net losses in its five most recent fiscal years, and the exchange questioned whether it can continue operations and meet its obligations. The company must submit a compliance plan by August 3, 2015; if the plan is not submitted or accepted, delisting proceedings begin. This is a new threat to the company's exchange listing.
23 June 2015agm notice● Neutral
MINES MANAGEMENT INC shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).
15 May 2015quarterly activities report▼ Bad
MINES MANAGEMENT INC reported a quarterly net loss of $1.5 million for the period ended 2015-03-31.
30 Apr 2015agm notice● Neutral
MINES MANAGEMENT INC shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).
14 Nov 2014quarterly activities report▼ Bad
MINES MANAGEMENT INC reported a quarterly net loss of $1.5 million for the period ended 2014-09-30.
15 Oct 2014agm notice● Neutral
MINES MANAGEMENT INC announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).
10 Oct 2014agm notice● Neutral
MINES MANAGEMENT INC announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).
16 Sept 2014agm notice● Neutral
MINES MANAGEMENT INC announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).
15 Sept 2014agm notice● Neutral
MINES MANAGEMENT INC shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).
14 Aug 2014quarterly activities report▼ Bad
MINES MANAGEMENT INC reported a quarterly net loss of $1.8 million for the period ended 2014-06-30.
13 Aug 2014agm notice● Neutral
MINES MANAGEMENT INC shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).