Mines Management, Inc. (NYSEMKT:MGN) is pleased to announce that on March 31, 2014, the U.S. Fish and Wildlife Service (“USFWS”) issued the Final Biological Opinion (“BO”) for the Montanore Silver-Copper Project located in northwestern Montana. Issuance of the Final BO is a major milestone toward completing the permitting of the Montanore project. Mines Management, Inc. (NYSEMKT:MGN) shares after opening at $1.10 moved to $1.35 on last trade day and at the end of the day closed at $1.25. Company price to sales ratio in past twelve months was calculated as 1275.98 and price to cash ratio as 5.18. Mines Management, Inc. (NYSEMKT:MGN) showed a positiveweekly performance of 14.68%.
Great Panther Silver Ltd. (USA),(NYSEMKT:GPL) (nysemkt:GPL) announces that the Company has resumed full operation of the mine and plant facilities at its Guanajuato Mine Complex in Mexico. Great Panther Silver Ltd. (USA),(NYSEMKT:GPL) shares advanced 10.89% in last trading session and ended the day on $1.12. Great Panther Silver Ltd. (USA),(NYSEMKT:GPL) return on equity ratio is recorded as -5.50% and its return on assets is -4.80%. Great Panther Silver Ltd. (USA),(NYSEMKT:GPL) yearly performance is 2.75%.
In order to extinguish its debts and refocus on core activities, Quicksilver Resources Inc (NYSE:KWK) which is an independent player in the oil and gas acquisition, explorations and production business, is letting go some of its joint properties. The company early this month agreed with its partner SWEPI, a wholly-owned subsidiary of Shell, to sell 312,000 acres of their assets in Sand Wash Basin, Colorado. The deal which involves sale to Southwester Energy Co. is expected to close in May and is valued at $180 million. The proceeds will be split evenly between the companies. KWK and SWEPI which own the 312,000 net acres jointly first joined forces in 2012 with the interest of developing oil and gas assets in Sand Wash Basin. The latest property sale deal comes on the back of Quicksilver’s March 2013 sale of 25 percent stake of its property in Barnett Shale for $485 million to Tokyo Gas Co. That deal resulted in partnership at the Barnett Shale, however, Quicksilver Resources Inc (NYSE:KWK) continued to operate the property. According to CEO Glenn Darden, Quicksilver has its eyes set on driving value for investors and this means selling stake in some properties, especially non-core assets and putting in place more disciplined costs and expenses management in order to shore up the balance sheet and focus more on core operations. Quicksilver Resources Inc. (NYSE:KWK) shares moved up 10.55% in last trading session and was closed at $2.83, while trading in range of $ 2.53 – 2.85. Quicksilver Resources Inc. (NYSE:KWK) year to date (YTD) performance is -7.82%.
Emerge Energy Services LP (NYSE:EMES) is among the companies in the oil drilling business which are counting challenges due to the rough weather. While the company noted that its sand production is not interrupted thanks to its enclosed processing plants, the problematic part is shipping the sand out of the mining areas. There aren’t enough railcars and this problem is shared by almost all players in the drilling industry in Texas. Oil drilling companies use sand, water and chemicals to break up rocks and release fuel. Sand is an important component in this process and inability to get it to the drilling sites means that drilling crews are made idle, not to mention the high operating costs. Perhaps this explains why oil service companies such as Emerge Energy Services LP (NYSE:EMES) are warning investors to lower their expectations in the early months of 2014 which have increasingly come under challenging business environment, thus stifling revenue. Emerge Energy Services LP. (NYSE:EMES) weekly performance is 18.28%. On last trading day company shares ended up $66.27. Emerge Energy Services LP. (NYSE:EMES) distance from 50-day simple moving average (SMA50) is 36.47%. Analysts mean target Price for the company is $54.40.
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