Any day nowI think Midway is about to make a huge jump in price. On April 24th, the CEO said "
we look forward to completing project financing within the coming weeks".
Financing needed to complete construction is very low as they already have the majority of it. SeekingAlpha article said "Midway Could Be the Best Performing Gold Stock of 2014". It said "Based on my criteria, I feel that Midway presents a very compelling buying opportunity at its current valuation, as the company works on getting its Pan mine into production this year.
Midway has a big chunk of cash on its balance sheet, has projects located in Nevada, has a solid, experienced management team, and has development projects which I feel have pretty big upside."
Since that was written, things just keep getting better.
-A major reduction in borrowing needs -Ken Brunk CEO "We believe we can significantly reduce our borrowing needs by employing two significant scope changes to the project--the utilization of a contract miner for early years of mining, and leaching the South Pan ore body by run-of-mine methods thereby deferring the purchase and installation of a crusher plant. We are also fortunate to have had our construction contracts that have been let to date come in at or very close to our feasibility estimates. With these recent reductions in initial capital requirements and our current strong cash balance, we look forward to completing project financing within the coming weeks."
-The annoucement earlier this week that Barrick is speeding up work on Spring Valley of which Midway owns 30%.