| HOME |  AREA ATTRACTIONS | OUTDOORS | EVENTS | COMMUNITY | PHOTO GALLERY | BUSINESSES |

Libby Montana News Archive

Montanore unproductive while waiting on government Record of Decision Reports net loss of $2.4 million while Libby project is stalled by Duane Williams, KLCB-KTNY Radio August 17, 2012 Mines Management Montanore reported a net loss of $2.4 million for the quarter ended June 30, 2012 compared to a net loss of $1.6 million for the quarter ended June 30, 2011. $400,000 of the increase is operating expenditures primarily for technical services associated with the exploration of the La Estrella Project in central Peru, and $400,000 decrease in other income from a change in the fair market value of warrant derivatives which expired in April. The Montanore Project, a large silver-copper project at Libby, has no revenues from mining operations. During the second quarter of 2012, Mines Management continued to maintain the Libby adit in a care and maintenance condition in preparation for development activities when the Record of Decision is received. Technical support and assistance were provided for ongoing permitting and environmental efforts. Monthly regulatory data gathering and reporting to state agencies is ongoing, and continued work on mine plan reviews related to optimization of the Preliminary Economic Assessment ("PEA"), and continued work on resource model evaluations and identification of target areas which are being incorporated into the planned underground drill program. _____________________________ By Duane Williams, KLCB-KTNY Radio, www.todaysbestcountryonline.com e-mail: klcb@frontiernet.net.

| HOME |  AREA ATTRACTIONS | OUTDOORS | EVENTS | COMMUNITY | PHOTO GALLERY | BUSINESSES |

All page content copyright 2012. All rights reserved. May not be used without permission.


LibbyMT.com
PO Box 940, Libby, MT 59923
406-293-3608
e-mail: info@libbymt.com