Mines Management files $65 million shelf for preferreds, debt

By Devika Patel

Knoxville, Tenn., Oct. 16 - Mines Management, Inc. filed a $65 million shelf registration in an S-3 filing with the Securities and Exchange Commission.

The registration covers preferred stock purchase rights, preferred stock, warrants, convertible debt securities, debt securities, rights and units.

The securities may be structured as convertibles.

Proceeds will be used to advance the development drilling program at the Montanore Project, for the acquisition, exploration and development of additional companies, properties or interests, working capital and general corporate purposes.

Based in Spokane, Wash., Mines Management acquires, explores and develops mineral properties, primarily those containing silver and associated base and precious metals.

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