When we see more BIG volume buys like the 7M share trade yesterday at $.095, it will signal these guys will survive in the near term. NO volume for sale down at these levels presently, so any buying will boost this back up quick. I expect another series of large buys this afternoon around 3pm like the previous. Watch for volume today and tomorrow before the weekend. MDW is close to reaching an extension is my bet. The large trades (more than 1m at a time) will signal this is the case in my opinion.
Barrick has spent $35M to date to gain 75% of the property, with another $7M+ this year. From those numbers, you can extrapolate a value of at least $10.5M. I would expect a streamer or Barrick to pay $18-25M for the remaining 25% of Spring Valley. Free Carries to production are hard to come by....particularly withe the largest Gold company in the world as your partner, who is spending cash on Spring Valley much faster than the required timeline. They like the asset and the jurisdiction.
Barrick buying Midway outright is still a possibility here. They can always sell Pan and Rock project once they get them operating smoothly.
Holding and adding over 800k shares. The selling volume has dried up, and this should settle in around the $.20-$.35 level in the coming weeks. Read the new corporate presentation. The company is moving forward, and the ounces currently being Leached will get the company through this tough time, back to predictable operating metrics. This is a solid pickup in my mind, below the $.20 level.