Mines Management Reports Financial Results for 2013

Mines Management Inc. (NYSEMKT:MGN) released financing and operating results for the fiscal year ending December 31st, 2013. Highlights include a lower net loss of $7.4 million for the 2013 compared to $8.2 million in 2012.

As quoted in the press release:

We reported a net loss for the year ended December 31, 2013 of $7.4 million or $0.25 per share compared to a loss of $8.2 million or $0.28 per share for the year ended December 31, 2012.

As of December 31, 2013, our aggregate cash, short term investments, and long term investments totaled $5.7 million compared to $11.8 million at December 31, 2012.

Mines Management Chairman and CEO, Glenn Dobbs, said:

We are gratified with the efforts by all involved who contributed to the accomplishments made in 2013, and the foundation that was set for the work and milestones already achieved in early 2014. We believe that this year we will see measurable progress in the permitting process for the Montanore Project.

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