I see this as a very positive development for MDW shareholders. This means we are moving closer to producing massive amount of gold out Pin project, which MDW owns 100% right. MDW has stated it needs to spend about $60MM to move the project into production.
"Initial project capital costs, as evaluated in the PEA, are estimated at US$45,000,000 plus working capital of US$5,000,000 and a 20% contingency totaling US$9,000,000."
But, the reward is huge!
"At $1,450 per oz gold, the NPV increases to approximately $192 million"
On the other hand, the $60MM will be raised over 2 years period at higher PPS. So, th total number of shares shouldn't exceed 30MM and most likely be issued to institutions.
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