Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
well multi dollar stocks often drop to less than $ also
yea i guess LOL
MDW was a high risk gamble.
With profits gambled more.
Recoup with a penny move higher in BAA.
Tis all.
Bye now.
i've read many times about the risks of trading this kind of situation, a stock under a dollar and a questionable future, but somehow i did not learn the lesson, i have learned it now that is for sure :)
LOL buy what makes you feel comfortable is all I can say LOL BAA is ok i guess,,,, But I sure hate I purchased MDW## LOL
FINRA could not say when they plan on releasing the stock (makes sense)
they reported new, lower, grade numbers back in May so they knew and let us all know. Senior lender included. guess that's why they technically defaulted on the loan.
Im stuck in this garbage as my orders did not go through eod friday 19th. ticks me off!
have no idea how u relate that to the Midway ch11 case. have u read the filings at all?
boy do u show how ignorant u r. In 1992-93 I pro se argued a case in state of indiana regarding lawful certified money orders and proved that the frn was a fraud against the people. It is not legal tender.
The state passed in july 1993 @ there first order, a law denying these instruments, proving that you still accept their fraud so therefore u have no grounds or recourse. YOU R IGNORANT.
seriously... what planet are you from?
forget about all that.
priority now is to pay chapter 11 lawyers for something that will fail no matter what.
ch 11s are VERY expensive and fail most of the time
Well, I eat well, and don't buy sodas.
So, maybe you could decide for me... Do I?
I'll just keep buying B A A, and be amuzed here.
Finish construction and
hand off to Operations
Leach pad expansion
Design, procure, install
agglomeration
Slow mining rate until work
complete
Expansion & infill drilling
Steps to Recovery in 2015
Manageable and Short-Term
We believe problems are solvable,
Pan to be economic, and Midway to be deeply undervalued.................................... LOL. I guess it was a typo and they meant overvalued
do you like monkeys?
"Yes," what?
How is MDW under a penny?
Where are you now finding MDW listed under a penny?
Has not traded since close at $0.017, which is above a penny.
So... wondering... where are you seeing MDW under a penny.
General interpretation of the BK, what?
grazie
this is now a problem in physics, how close to zero can we get without actually hitting zero?
which means stock holders are basically left with nothing just like a reverse split LOL
How do you mean, "less than a penny" when trading is and has been halted, since the $0.017 last price?
oh! this is no doubt my worst trade ever. i will pay somebody $10 to please take this away! :(
This is a serious wake up call for the value of the NIs and the DD the banks do. This was a high profile project in a 'safe' jurisdiction.
wow less than a penny...... slowly sinking into oblivion with trading still halted...
real simple , the judge is bias. he is paid his salary in frn's therefore bias to any price setting regarding a gold mining co, because the are based upon the actual money defined by constitution not shit dollars.
if they were to announce an unexpected increase in the gold produced at Pan i expect that would happen after coming out of chapter 11
Did they not know of the low grade, keep it quite while they garnered a new report only to come out after banruptcy filing?
at the time of the technical default reality (lower than expected gold rate) sort of was stairing them in their faces. What they knew or did not know when pitching for finance I can't say as I have no info about that.
I think they went into this with the best intentions from the get go but lower grades screwed them over.
Right. So Midway management misled its creditors and shareholders in its knowing of the inaccuracies of the assessed gold, of actual property/mineral value, of therefore costs of production, etc., and only released the new report and information after filing BK. Hmmm. That's a bit odd. Seemingly like fraudulent action with mal intent and/or to mislead.
one never know but why would u since the technical default is all thanks to them over-estimating on the first report. they needed to restructure the debt but the lower than expected numbers led us all here
Maybe they want to underplay what's there for some nefarious reason
they knew gustavson screwed up on the first report. why would they go back to the same company for the second report? who'd in the financing biz would take them seriously?
The NI report says they most they're going to get out of Pan is 240,000 oz including what's on the pad. Better hope that Gustavson got that wrong too. I see no hope here at all.
me neither but have looked around the web to learn. also IMRS went bust, sold all their good assets ahead, got suspended from the TSX yet are trading on the Pinks. so why this aint open for trading on the Pinks now is beyond me, especially considering it opened for trading on the Pinks the day of the announcement
No, I didn't know how the CAnadian stock exchange work...
i was trading MDW in on the TSX, i've since had it journaled over to MDWCQ on with hopes for some over the counter trade on the US side, but by the time all the paper work was done, MDWCQ stopped also, not many options left from here...
If their amount of gold is correct on leach they should have gold there valued at 43 mill usd
I think they filed ch11 because their senior lender did not accept restructuring their debt due to the technical default.
all thanks to Gustavson screwing up so much in their report and getting the numbers so wrong
do you have stox on the Candian exchange? this isn't the first time a stock gets delisted on the TSX but then starts trading on the Pinks
We should be given the option to trade and sell...now we are at the mercy of the company...
Pagaso i do feel a bit hoodwinked by this outfit, they published optimistic plans for restructuring and did not mention that chapter 11 was part of it, clearly as many have pointed out, if there were value left there should not be a chapter 11 :)
yes & no but this is what happens on the TSX and was expected. u can't say u r surprised by
this or expected a different result
it might be that there is no action we can take until things are settled and Midway "Emerges" from the legal process as either a new or non existent company, and then there is probably small hope of the common shares being given any value -- but i'm keeping an eye out cause if there is a chance to recover a bit of it i'd like to be there :)
me neither, some if it is beyond my wildest imaginings :) .... it was listed for me under PINX last week, but i see it has since changed to PINX-GM :) what ever it means i probably does not help us much at this point, but it's good to know i guess :)
I don't think it's a big issue currently as the halt has been active for about a week and noone is able to provide bid/ask pricing. then again. what do I know. Im new to getting stuck in a bk stock
hardtogetnewalias i had not noticed, but i see that on my platform now... thanks!
steamed_turtle that is very close to my story on this trade. was NOT my plan to trade a bankrupt stock. about half of my loss was gain from trades on this same stock (which went well), and the remain half from other trades this YTD -- no matter how i cut it, it sets me back six months -- but at least i did not wipe out my trading account and live to trade again with more experience on bankruptcy proceedings :) lol....
did you see that the OTC moved it from the Pinks to the Grey market?
kind of logical since there is no information and no broker can quote any bid/ask
also... you need a better reason than "why not" to withdraw and get the withdrawal approved by the judge.
there never is anything left for shareholders so I would not worry that much about it.
however much I would like to see that it is highly unlikely it will occur.
my biggest question is... how can they afford a ch11? that is really expensive sheet we're talking about and majority of them fail.
Followers
|
46
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
2531
|
Created
|
08/06/10
|
Type
|
Free
|
Moderators |
Midway Gold Corp. is a precious metals company with a vision to design, build, and operate mines in a manner accountable to all stakeholders while producing an acceptable return to its shareholders. Midway controls over 65 square miles of mineral rights in the western United States, including four advanced exploration projects: Spring Valley, Pan, Golden Eagle, and Midway, as well as two early stage exploration targets: Gold Rock and Burnt Canyon.
Midway controls five known gold resources within
major gold camps in the western United States
Midway is a precious metals company that engages in the
discovery of new economic deposits and the development of
profitable mines. Midway controls mineral rights along three
major gold trends in Nevada and in the Republic district of
Washington, and leads the Nevada junior sector as one of the
lowest cost gold discovery companies in the United States.
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |