Bottom is in. Selling volume has dried up, and I expect a strong rally into the the close. A positive break of $.125 would be golden for the rest of the week.
We need to hear an update form the company, which I believe Bill will make, as soon as they have anything concrete with BOA.
In the current state, without proven operational numbers, MDW should be trading around $.30-$.50. The overhang is the Bank debt, and the timeline on the technical breach with BOA. If they get past that, they have capital to leach the ounces already on the pad (33,000+), and to improve the operating efficiencies. They just raised operating capital to get them to steady prodcution, so that is not an immediate issue if they can get past the technical default on the BOA note.
If they don't get the BOA extension, then this will continue to fall. However, if they get anything today or tomorrow, waiving the BOA Breach, MDW will see $.30+ in short order.
Binary play here in my mind. It's worth the Risk for my $$$$
Real Assets, Real Revenues, Great Jurisdiction, JV with Barrick.....all for a $19M market cap !!!
GO MDW
Van
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