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Stock Market & Financial Investment News

News Breaks
May 19, 2014
07:46 EDTMDWMidway Gold awards mining contract to Ledcor for Pan gold project
Midway Gold Corp. announces the selection of Ledcor CMI as the mining contractor at the company’s open-pit Pan Project, Nevada. During the early years of operation, Ledcor will provide all mining-related services, including manpower and equipment for the Pan Project at a substantial capital savings to Midway.
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November 6, 2014
07:49 EDTMDWMidway Gold updates on construction at Pan gold project in Nevada
Midway Gold Corp. reports on the construction progress at its Pan gold project in Nevada. Pan is in late stage construction with a first gold pour expected in January 2015. A $55M Project Finance Facility with Commonwealth Bank of Australia was closed in July 2014 with first draw on the loan expected in November. Ken Brunk, Midway’s President and CEO stated, “Midway continues to advance steadily to gold production at Pan. This milestone is what we have worked so hard toward these past few years. The reward for the effort is near. Our successes at Pan include permitting in record time, securing our debt financing in an extremely selective environment, and the placement of a hedging program to help protect our operations in an uncertain gold price environment. We are benefiting from the employment of contract mining at very competitive costs to all-in owner mining and have utilized Run-of-Mine leaching on South Pan to harness further potential for efficiencies. We believe our current cash on hand in combination with the expected draws on the debt financing will be sufficient to fund construction at Pan as well as working capital requirements through startup. We continue to look for ways to remain cost efficient in this environment while maintaining a strong core from which to grow. To that effect, we continue to advance the Environmental Impact Statement process at our second project, Gold Rock, to achieve a targeted second quarter 2015 Record of Decision. Even further, we have worked to realize additional value to our shareholders with impressive resource growth at Spring Valley this year. We are continually thankful to our Midway team for their perseverance through the volatility of these markets and we are all looking ahead to operations and cash flow in 2015.”

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