Mines Management Inc. (TSX:MGT,NYSE:MGN) announced financial and operating results for the first quarter that ended on March 31, 2013. Highlights include a completed revised aquatic Biological Assessment by the U.S. Forest Service (USFS), the commencement of formal consultation with the U.S. Fish and Wildlife Service (USFWS), a draft terrestrial BA submitted by the USFS, and ongoing informal consultation with the USFWS.
As quoted in the press release:
Overview First Quarter 2013
- The U.S. Forest Service (“USFS”) completed a revised aquatic Biological Assessment (“BA”) and formal consultation commenced with the U.S. Fish and Wildlife Service (“USFWS”). The USFS also submitted a draft terrestrial BA, and informal consultation with the USFWS is ongoing. These are important steps towards the issuance of a Biological Opinion by the USFWS and in the permitting process generally.
- The Company continues to work with the U.S. Army Corps of Engineers (“USACE”) on the Clean Water Act 404 permitting process. This process will continue concurrently with the Final Environmental Impact Study (“EIS”). The Company commenced discussions with the USACE concerning preliminary mitigation plan designs. A final mitigation design is required for permit approval
- The Company entered into an agreement with the Montana Fish Wildlife and Parks to fund additional mountain goat surveys as part of the monitoring and data collection requirements required to be completed prior to initiating major construction activities for the project.
- The Company elected to extend the exploration program at its La Estrella gold-silver project in central Peru into its second year under the terms of its agreement with the owner, Estrella Gold Corp., whereby the Company may earn a 75% interest in the property.