Midway Gold Corp V.MDW

End of Quarter Balancing?

[LTGoldBull]

Fair Value MDW? us$2.60 based on Pan projected eps. PAN expected production 81 Koz at $1200 AU is us$97.2M Rev's (EBITDA) Costs - Operating Cash Costs us$585, Total Production Costs $824 (incl capital) (Pan Feasibility Study) 3.2 MT's on the Heap Leach x 0.5 g/t is 50,000 oz rough 9.0 MT's eoy 2015 Full Year Earnings Pan 185M F/D shares us$0.13/share (EBITDA) x10 market multiple us$1.30 x20 market multiple us$2.60 ($1.56 after tax) What is the additional value for 1.049 Moz Gold Rock property being permitted? What is the additional value for 1.326 Moz Spring Valley project jv with Barrick in PFS? (25% is 331,500oz) To be conservative imo MDW should be valued at us $1.50, with projected full year earnings for PAN plus the additional value for the advanced Gold Rock and Spring Valley projects. Just a little Valuation Gap 4.5 times current $0.33 market pricing for end of quarter adjustments by the funds. Prime Takeover candidate? I would imagine Barrick has the inside track and looking at current us$60M MCap. Cheers, Mark (dyodd)

[Wazu73]

These numbers are completely irrelevant right now. The FS was from 2011 and mining costs have changed significantly while fuel costs are hedged in. The underlying mining cost will have a major impact either positive or negative and frankly we don't have the public information to assess. Company should have come out with an updated FS, can only assume results were less than the 2011 but strong

[LTGoldBull]

The quarter is now over. We'll see starting tomorrow what the real Midway may be worth over the coming weeks. Retracement of March imo, cheers, Mark

[LTGoldBull]

As said previously, I think March selling was overblown since 3rd, for what reason. Not company related imo. I see it as the snowball effect in concert with Gold at the beginning of the month which recovered, though MDW did not. By mid march some Funds seen this as the opportune time to unload MDW and clear for the books of this stock before quarters end. The Gold chart daily, https://stockcharts