This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Midway Gold Graduates To Development Stage On Strength Of Feasibility Study At Pan Project, White Pine County, Nevada

Stocks in this article: MDW

Midway Gold Corp. ("Midway" or the "Company") (MDW:TSX-V; MDW:NYSE-AMEX) announces that it now qualifies as a Development Stage Entity under SEC Guide 7 guidelines. Midway completed a detailed Feasibility Study on its Pan gold project in White Pine County, Nevada that contains the information necessary for the project to be deemed economically feasible. A NI 43-101 technical report summarizing the Feasibility Study has been filed under the Company’s profile on SEDAR. In addition, a mine plan of operations has been submitted to the US Bureau of Land Management (BLM) and the Nevada Department of Environmental Quality (NDEP). The BLM has notified Midway that the plan has been deemed complete, beginning an environmental study process.

Additionally, on January 1, 2012, the Company became an accelerated filer according to SEC guidelines. Consequently, the Company is not currently in compliance with the audit committee composition requirements set forth in Section 803B(2)(a) of the NYSE Amex Company Guide in that the Company only has two independent directors appointed to the Company’s audit committee rather than three. On January 2, 2012, the Company notified the NYSE Amex of its need to appoint a third independent director and on January 4, 2012 the Company received confirmation from the NYSE Amex regarding its obligations. As disclosed in its November 11, 2011 press release, the Board intends to appoint a third independent director to the Company’s audit committee in the very near future and no later than by the Company’s next annual general meeting of shareholders, ensuring compliance within the allowable cure period set forth in Section 803B(6)(b) of the NYSE Amex Company Guide.

The results of a Feasibility Study (FS) for the Pan gold project in White Pine County, Nevada demonstrated robust economics. The NPV of the project accelerates from $123 million at $1,200/oz gold to $344M at $1,900/oz gold. The IRR grows from 32% to 79% using the same range. Both use a 5% discount rate and are after tax figures. The project has Proven and Probable Mineral Reserves of 864,000 oz of gold within 48.3M tonnes at a grade of 0.56 grams per tonne (gpt) gold.

1 of 4

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs