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Mines Management, Inc. (MMI) is engaged in the business of acquiring and exploring, and if exploration is successful, developing mineral properties, primarily those containing silver and associated base and precious metals. The Company's principal mineral property interest, the Montanore Project, is held by its wholly owned subsidiary, Newhi, Inc. The Company's properties, including the Montanore property, are in the exploration stage. The Company has commenced re-permitting of the Montanore Project and is determining its feasibility for development. As of December 31, 2007, no property was in production.(Source: 10-K)