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Gold/Mining/Energy : Midway Gold -- Ignore unavailable to you. Want to Upgrade?

To: hugh thorne who wrote (1030)	11/1/2008 9:23:52 PM
From: hugh thorne	1 Recommendation Read Replies (2) \| Respond to of 1035

i believe that this is now trading at about $15 per oz of inferred ie 43-101 compliant. if i remember 10% is more reasonable and would put things in the $70 range or 4 times or so higher. they look like they will have $2.75m in the bag and the 4 monthers increase that kitty by another $3.5 m - so just about $6 million in the bank and 75 million shares - 10 cents a share cash! note there was a $2.5 m break up fee on the GP deal. also note that MDW said the term sheet lapsed but GP said in their release that MDW pulled. i see GP setting up for litigation - so kiss off $500k of the financing due to the rather prevalent green mail process south of the 49th parallel.