Somebody posted the info here on the Thursday before the ETF dump by Van Eck, and having held onto stocks when that happened before, it gave me the impetus to sell all my shares that Friday. (Midway's rotten press release that Friday morning helped too.) The following Monday, of course, the company declares bankruptcy.
i ultimately was able to leave with modest profit, rather than a loss into the thousands, so it was one occasion where these boards have really helped. Again, my thanks. I needed such luck.
Per the last presentation, the fesability study for PAN is due no more than 45 days from the latest resource estimate. That date is approaching. With the feasability, they will also be able to offer guidance for the rest of the year. Until the feasability is completed/released, likely no reason to expect anything from either their lenders or from potential acquirers. Also, for those who've been optimistic re: Midway, we've been given no new reason to expect the worst.
Las year, Duluth Metals got pushed down to 9 cents before being acquired by Antofagasta at its 30 day average (almost 5 times its closing share price), and given Midway's comparables (ie a partnership with another miner on at least one of their properties), that's the sort of potentially positive outcome that makes sense for some people to gamble on this.
Over 300,000 shares traded at 7 or 7.01 US in the last hour. Whatever the reason, be it good or bad, the sudden lack of PPS movement is likely a sign that news is coming soon -- and that news is already known (or at least believed to be known) by some entity.