Metaline Contact Mines (MTLI)

[ErnieBilco]

NICEEEEE NEWS TO WAKE UP TO.

[monda2frida]

“We realize it is extremely rare for a junior resource company of our size to declare a dividend,” said John Beasley, CFO. “But, with the sale of our interests in the Golden Chest Mine, and the recently announced successes at the mine, it was time for a payback to our faithful shareholders.”

[monda2frida]

Metaline Contact Mines Declares First Dividend in 84-Year History

Metaline Contact Mines (PL) (USOTC:MTLI)
Intraday Stock Chart
Today : Wednesday 21 March 2012

Metaline Contact Mines (OTC: MTLI) is proud to announce the very first dividend in its 84-year history.

In a meeting on March 12, 2012, the Company’s Board of Directors unanimously approved a ½-cent per share dividend for all shareholders as of March 30, 2012 (the “Record Date”).

“We realize it is extremely rare for a junior resource company of our size to declare a dividend,” said John Beasley, CFO. “But, with the sale of our interests in the Golden Chest Mine, and the recently announced successes at the mine, it was time for a payback to our faithful shareholders.”

On December 15, 2010, Metaline Contact Mines sold its lease and royalty interests in the Golden Chest Mine, located in the Coeur d’Alene Mining District, near Murray, Idaho, to Golden Chest LLC, for US$1.24 million, payable over 8-years. Golden Chest LLC is a joint venture between New Jersey Mining Company (OTCBB: NJMC) and Marathon Gold USA Corporation, the U.S. subsidiary of Marathon Gold Corporation (TSX: MOZ). NJMC and MOZ recently announced a Canadian National Instrument 43-101 compliant resource calculation of over 380,000 ounces of gold at the Golden Chest Mine, and expressed optimism that this year’s 20,000-meter drilling program could significantly increase the size of the resource.

In addition to its interests in the Golden Chest Mine, Metaline Contact Mines owns approximately 8,200 acres of zinc-lead mineral rights in the Metaline Mining District, located in Pend Oreille County, N.E. Washington State, virtually all of which are under lease to a subsidiary of Teck Resources Limited.

Metaline Contact Mines develops and acquires royalty interests in mineral properties and projects of unusual merit.

This release contains certain “forward-looking” statements within the meaning of the Federal Securities Laws. Such statements are based on assumptions that the Company believes are reasonable but which are subject to a wide range of uncertainties and business risks. Further information about Metaline Contact Mines can be reviewed on the Company’s website at www.metalinecontactmines.com.

[monda2frida]

dividend news-sweet!!!!!!!!!!!! :)

[monda2frida]

yw lp. zinc is around $1/lb currently, and MTLI has reserves of 5M tonnes: Announced reserves in the Pend Oreille Mine are 5,727,000 tonnes, grading 7.7% zinc and 1.4% lead. that values the reserves in the hundreds of millions, even a billion or so-i agree that MTLI could trade in the dollars in the future, good luck $$$$$$$$$

[Lebaneseproud]

monda2frida thanks for posting. The zinc property is very valuable and as zinc prices go higher in the coming years as I expect, Teck will go back into production at the site and even more royalties will flow into MTLI. I wouldnt be surprised if Teck launched production on MTLI property before end of year as I believe zinc prices will rise this year. Add to that the continued payments that will come from Golden Chest and having no debt whatsoever and this stock is dirt cheap. With the ultra low float here, this one could trade in the dollars in the future imho

[monda2frida]

January 12, 2012. On December 6, 2011, we received the 2nd annual installment payment of $75,000 from Golden Chest LLC on the sale of our lease and royalty interests in the Golden Chest Mine near Murray, Idaho. On December 15, 2012, we are scheduled to receive another installment payment of $100,000.

Teck American Incorporated is current with all of their advance royalty payments, property taxes and assessment work, and continues to maintain their lease of our extensive zinc-lead mineral interests in the Metaline Mining District in N.E. Washington State, in good standing.

[Lebaneseproud]

Wow that is strange

[ErnieBilco]

No gains, it passed my .06 for the .09 - that's what is "strange".

[Lebaneseproud]

The developing world needs lots of zinc in the coming years

[Lebaneseproud]

Glad you took a gain. Always good to take some gains but probably wise to hold some longterm as well. The cheap shares will probably dry up as zinc prices go higher

[Lebaneseproud]

Things happen when you least expect it

[Lebaneseproud]

With the micro float, this would rocket if they took on any type of new project or if the zinc mine is un-mothballed by Teck.

[ErnieBilco]

The cash til 2017 is what got me in. Was trying to book some gains for fresher plays.

[Lebaneseproud]

Im sure some folks will stumble on this from time to time and figure out the company will be getting over a million in cash over next few years and have a great zinc property that Teck will exploit once zinc prices are higher. This one could rocket very fast with any good news but Im here for the long haul. Great assets, no debt and a bunch of cash coming down the road. Clean balance sheet and low float. Also a good candidate for a reverse merger. Somebody probably saw today what we already know

[ErnieBilco]

Okay, someone likes this at .09 - Don't understand why they didn't buy my .06 but hey who cares - I want it to go higher.

[PennyFans]

Thanks for your reply. I put MTLI into my watch list and will do more DD about it.

Take care!

[ErnieBilco]

I'm in as of a few weeks ago. I like that they will have money coming in thru 2017.

[PennyFans]

Hi ErnieBilco, Nice to see you here. I am also looking into it.

[WakingBake]

Don't really see what caused today's spurt. I am guessing today's buying was from an existing share holder.

Volume wasnt a whole lot anyways but today's action does show how thin this sucker is

[ErnieBilco]

You see a catalyst for the jump? Any SOS type stuff? Hell I'm up 590% and don't have a clue what happened.

[WakingBake]

I noticed :)

[ErnieBilco]

Up 292% and not a word from anyone.

[ErnieBilco]

I understand, sometimes old info feels current, no problem, thought maybe you saw something I missed.

[Lebaneseproud]

Ernie my mistake, after researching further , I was recalling a an earlier filing when they increased the AS to the current 20 million. I see no mention of any further increase after that. Ive owned this one for a long time and the years go fast.

[ErnieBilco]

I see no mention of it in their Jun 15 MD&A.

The fact that money will be coming in for the next 6 years makes me like the future pontential here.

If you have an increase link.... please post it, I did not find anything yet.

[Lebaneseproud]

Ernie but didnt they vote for or propose raising the authorized shares over 20 mil.?

[ErnieBilco]

Their OS has remained the same for 2 years - they have cash, no debt, no heavy expenses.

[ErnieBilco]

How heavy could they go with only 20 million AS?

[Lebaneseproud]

Maybe beginning of massive dilution, we will see. I believe they were going to heavily increase amount of outstanding shares

[retireat40]

WTH happened to this today???

[maverick one]

I've got a few of this myself...

[Lebaneseproud]

Have owned this one for years

[maverick one]

Been following this for years...

[MWM]

July 8, 2010 A spectacular drill intercept, assaying 25-ounces per ton of gold, has been drilled at our Golden Chest Mine by our Lessee/Operator, New Jersey Mining Company (OTCBB: NJMC). Although relatively narrow, at approximately 10.5 inches, when diluted for minimum mining widths, the vein is still a highly commercial 3.2-ounces per ton. New Jersey Mining immediately dispatched a team of miners to the Golden Chest to prepare for renewed operations. Vent, water, and compressed air lines have been repaired, along with some ground control. The miners took their first round of a crosscut, which is scheduled to reach the vein before the end of the month, when commercial mining operations will commence. No tonnage figures are available.