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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-QSB
[ X ] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the quarterly period ended September 30, 1999
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the transition period from to
Commission file number: 0-29786
MINES MANAGEMENT, INC.
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Idaho 91-0538859
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(State or other jurisdiction (I.R.S. Employer
of incorporation or organization) Identification No.)
905 West Riverside Avenue, Suite 311
Spokane, Washington 99201
(Address of principal executive offices) (Zip Code)
(Registrant's telephone number, including area code) (509) 838-6050
Check whether the issuer (1) filed all reports required to be filed by
Section 13 or 15(d) of the Exchange Act during the past 12 months (or for
such shorter period that the registrant was required to file such reports),
and (2) has been subject to such filing requirements for at least the past
90 days. Yes (X) No ( )
State the number of shares outstanding of each of the issuer's classes of common
equity, as of the latest practicable date. 4,921,956
Transitional Small Business Disclosure Format (check one): Yes ( ) No (X)
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MINES MANAGEMENT, INC.
FORM 10-QSB
FOR THE QUARTERLY PERIOD ENDED SEPTEMBER 30, 1999
PART I. - FINANCIAL INFORMATION
The Registrant falls within the provisions of Rule 13a-13(c)(2) of the
Securities Exchange Act of 1934, as amended, and claims exemption thereunder
from the requirement to file Part I.
PART II. - OTHER INFORMATION
ITEM 5. OTHER INFORMATION
Year 2000 Issues
Throughout the information technology industry, the use of two-digit fields was
common practice in the design of hardware, systems software, proprietary
applications and system interfaces. The Year 2000 problem is pervasive and
complex. The issue is whether computer systems will properly recognize date
sensitive information when the year changes to 2000. Systems that do not
properly recognize such information could generate erroneous data or cause a
system to fail.
The Company recognizes the need to ensure its operations will not be adversely
impacted by Year 2000 software failures and has assessed Year 2000 risks. This
assessment includes the identification of necessary changes to computer hardware
and software applications that will attempt to ensure availability and integrity
of the Company's information systems and the reliability of its financial and
operational systems.
The Company has reviewed its financial, information and operational systems in
order to identify those products, services or systems that are not Year 2000
compliant. As a result of this review, the Company has modified or replaced
certain information and operational systems so they will be Year 2000 compliant.
These modifications and replacements are being, and will continue to be, made in
conjunction with the Company's overall systems initiatives. The total cost of
these Year 2000 compliance activities is not anticipated to be material to the
Company's financial position or its results of operations.
Based on available information, the Company does not believe any material
exposure to significant business interruption exists as a result of Year 2000
compliance issues. These costs and the timing in which the Company plans to
complete its Year 2000 modifications are based on management's best estimates.
However, there can be no assurance that the Company will timely identify and
remediate all significant Year 2000 problems, that remedial efforts will not
involve significant time and expense, or that such problems will not have a
material adverse effect on the Company's business, results of operations or
financial position.
The Company also faces risk to the extent that its borrowers, vendors, service
providers and others with whom the Company transacts business may not comply
with Year 2000 requirements. The Company has not, to date, made any assessment
of the Year 2000 risks associated with these third party associations to
determine the extent to which the Company is vulnerable to these third parties
failure to remediate their own Year 2000 issues. In the event any such third
parties are not Year 2000 compliant, the Company's results of operations could
be materially adversely affected.
MINES MANAGEMENT, INC.
FORM 10-QSB
FOR THE QUARTERLY PERIOD ENDED SEPTEMBER 30, 1999
SIGNATURES
In accordance with Section 13 or 15(d) of the Exchange Act, the Registrant
caused this report to be signed on its behalf by the undersigned thereunto duly
authorized.
MINES MANAGEMENT, INC.
/s/ William R. Green
___________________________
Date: November 12, 1999. By: William R. Green
President (Principal Executive Officer)
/s/ Roy G. Franklin
___________________________
Date: November 12, 1999 By: Roy G. Franklin
Treasurer (Principal Financial Officer)
