A Reuters story yesterday (Tuesday) reported that Spokane-based Mines Management took the unusual step of making a public statement about its stock price rise.
The Reuters story said: Mines Management, which trades on the New York Stock Amex Exchange as MGN, was contacted by the exchange in regard to the gain of more than 48 percent over the past six weeks.
Mines Management execs issued a release that said: “It's not the company's policy to comment on unusual market activity, but it confirms it is not aware of any material corporate developments that could account for recent unusual trading activity.”
The price rose to around $3, which is not quite to the year-high of $3.14. Since Tuesday the stock dropped some to $2.75 on Wednesday afternoon.
The main focus of Mines Management is developing the Montanore silver-copper project in northwest Montana.