|Bid||0.4600 x 0|
|Ask||0.4850 x 0|
|Day's Range||0.4600 - 0.5300|
|52 Week Range||0.2400 - 0.9100|
|Beta (5Y Monthly)||0.55|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||1.17|
VANCOUVER, British Columbia, March 17, 2020 (GLOBE NEWSWIRE) -- Midas Gold Corp. (TSX:MAX / OTCQX:MDRPF) (“Midas Gold” or the “Company”) today reported that it has completed its previously announced offering (the “Offering”) of Canadian dollar denominated 0.05% senior unsecured convertible notes issued by a wholly owned subsidiary of the Company (the “2020 Notes”), raising total gross proceeds of US$35.0 million (C$47.6 million). The 2020 Notes are convertible into common shares of the Company (“Common Shares”) at a price of C$0.4655 per share. All of the 2020 Notes were purchased by Paulson & Co., Inc. (“Paulson”) and no 2020 Notes or Common Shares were taken up under the proposed brokered portion of the Offering.
Midas Gold Corp. (MAX:TSX / MDRPF:OTCQX, “Midas Gold” or the “Company”) today announced that it has amended its private placement originally announced on February 27, 2020 (the “Offering”, comprised of the Note Offering and Brokered Offering as defined below) in order to reflect the current market price of the Company’s common shares. “The turmoil in the market since the announcement of the offering on February 27, 2020 has impacted the price of Midas Gold’s shares, along with many others,” said Stephen Quin, President & CEO. “After considering the market conditions, Midas Gold’s need for additional financing in the near term and the impact of the re-pricing on overall dilution, among other factors, Midas Gold determined that having funding certainty to carry on with its permitting process warranted an agreement to modify the terms of the financing and ensure a timely completion of the Offering.”
Midas Gold Corp. (MAX:TSX / MDRPF:OTCQX, “Midas Gold” or the “Company”) today announced that it has entered into funding agreements for gross proceeds of US$35 million to be used for funding continued work on the Stibnite Gold Project and for general working capital purposes. Midas Gold has signed a binding term sheet with Paulson & Co. Inc., on behalf of the several investment funds and accounts managed by it (“Paulson”), pursuant to which Paulson will purchase Canadian dollar denominated 0.05% senior unsecured convertible notes (the “Notes”) to be issued by a wholly-owned subsidiary of the Company (the “Issuer”) on a private placement basis for gross proceeds of a minimum C$33,202,500 (the “Note Offering”), being the Canadian dollar equivalent of US$25 million(1).
Midas Gold Corp. (MAX:TSX / MDRPF:OTCQX, “Midas Gold” or the “Company”) today announced, on behalf of its subsidiary Midas Gold Idaho, Inc. (“Midas Gold Idaho”), the United States Forest Service (“USFS”) and other regulators working on the Stibnite Gold Project (“Project”) have, following internal reviews, identified a number of recommended improvements to the Draft Environmental Impact Statement (“Draft EIS”) that is being prepared by the USFS as the lead agency.
Midas Gold Corp. (MAX:TSX / MDRPF:OTCQX) reported today that the U.S. Forest Service (“USFS”) has indicated that the Draft Environmental Impact Statement (“EIS”) for the Stibnite Gold Project (“Project”) in Valley County, Idaho, will be made available for public review in January 2020. Midas Gold Idaho continues to work closely with federal and state regulators to ensure that the permitting process remains on track.
Midas Gold Corp. (MAX:TSX / MDRPF:OTCQX) (“Midas Gold” or the “Company”) reported today that permitting for the Stibnite Gold Project (“Project”) continues to move forward on the schedule announced on April 2, 2019, without any additional delays. Midas Gold Idaho, a subsidiary of Midas Gold, has been working closely with federal and state regulators to ensure that the permitting remains on track with the agreed schedule. This is the second quarter in a row that the United States Forest Service (“USFS”) has held to issuing a Draft Environmental Impact Statement (“EIS”) for public comment in late Q4 2019.
Midas Gold Corp. (TSX:MAX, OTCQX:MDRPF) (“Midas Gold” or the “Company”) understands that the Nez Perce Tribe has followed on from its Notice of Intent to sue (as reported by Midas Gold on June 6, 2019) by filing suit in federal court on essentially the same matters as discussed in the June 6, 2019 release. Midas Gold will vigorously defend the unwarranted and misguided lawsuit over water quality in the Stibnite Mining District related to historical mining activity dating back over 80 years and long before the Company acquired any rights to the site. Midas Gold is not, and has never, operated on site and is not responsible for the existing contamination but has proposed the Stibnite Gold Project (“Project”) as a means for providing the much-needed cleanup of historical waste polluting the area today.
Midas Gold Corp. (TSX:MAX, OTCQX:MDRPF) (“Midas Gold” or the “Company”) is pleased to announce that it has closed the previously announced bought deal equity financing (the “Offering”) led by RBC Capital Markets and BMO Capital Markets (as co-lead underwriters) and including Haywood Securities Inc. The Company has issued 33,200,000 common shares (the “Offered Shares”) at a price of C$0.60 per Offered Share for aggregate gross proceeds of C$19,920,000. The Offered Shares were qualified for distribution by a prospectus supplement dated June 12, 2019 to the Company’s existing Canadian base shelf prospectus dated April 4, 2019. Paulson & Co. Inc. (“Paulson”) purchased 9,664,520 Offered Shares to maintain its pro rata interest of 29.11% of outstanding common shares on a partially diluted basis assuming conversion of only the outstanding senior unsecured convertible notes held by Paulson (and no other outstanding convertible securities of the Company) into common shares, pursuant to Paulson's contractual participation right under the investor rights agreement dated March 17, 2016, as amended May 9, 2018, between Paulson, Idaho Gold Resources Company, LLC (a subsidiary of Midas Gold) and the Company.
VANCOUVER, June 10, 2019 /CNW/ - Midas Gold Corp. (TSX:MAX, OTCQX:MDRPF) ("Midas Gold" or the "Company") has today entered into an agreement with RBC Capital Markets and BMO Capital Markets (as co-lead underwriters) and a syndicate of underwriters (collectively, the "Underwriters") in connection with a bought deal public offering (the "Offering") of 33,200,000 common shares of the Company (the "Common Shares"). The Common Shares will be offered at a price of C$0.60 per Common Share for gross proceeds of approximately C$19.9 million. The proceeds from the sale of the Common Shares will be used to advance the feasibility study on, and permitting for, the redevelopment and restoration of the Stibnite Gold Project, Idaho, and general working capital.
Midas Gold Corp. (MAX:TSX / MDRPF:OTCQX) (“Midas Gold” or the “Company”) today announced that it has been advised that the Nez Perce Tribe intends to initiate legal action against the Company and its subsidiaries related to water quality impacts related to historical mining activity undertaken prior to Midas Gold’s involvement in the site. Water quality in the historical Stibnite Mining District (the “District”) has been impacted by more than a century of mining activity, most of which took place before modern environmental regulations existed. In 2016, Midas Gold Idaho, Inc., an Idaho-based mining company that has never operated in the District, submitted a Plan of Restoration and Operations to improve water quality and fix the long-standing environmental issues facing the site as part of its proposed Stibnite Gold Project. Despite this proposal, the Nez Perce Tribe recently announced its intent to sue Midas Gold over its concerns of high concentrations of arsenic and other contaminants in the water at the site.
VANCOUVER, British Columbia, May 07, 2019 -- Midas Gold Corp. (MAX:TSX / MDRPF:OTCQX) ("Midas Gold" or the "Company") today announced the results of its annual general meeting.
Midas Gold Corp. (MAX:TSX / MDRPF:OTCQX) today announced it has provided an initial cash grant of $100,000 and issued 1.5 million common shares in the capital of the Company (the “Foundation Shares”), valued at US$877,500, to launch the Stibnite Foundation in Idaho. The Foundation will support projects that benefit the communities surrounding the Stibnite Gold Project and was created through the establishment of the Community Agreement between Midas Gold Idaho and eight communities and counties throughout the West Central Mountains region of Idaho.
Midas Gold Corp. (MAX:TSX / MDRPF:OTCQX) (“Midas Gold” or the “Company”) today announced that it has now filed a final short form base shelf prospectus (the "Shelf Prospectus") with the securities commissions in each of the provinces of Canada, except Quebec. This follows the completion of a regulatory review of the preliminary base shelf prospectus, the filing of which was reported on March 12, 2019. The Shelf Prospectus will allow Midas Gold to offer and issue up to C$200 million of common shares, warrants, subscription receipts, units, debt securities, or any combination of such securities (collectively, the "Securities") during the next 25-months. The Company filed the Shelf Prospectus to provide future financial flexibility as it advances its flagship Stibnite Gold Project but has not determined whether or not to undertake an offering of Securities. As reported in its audited financial statements dated December 31, 2018, Midas Gold had cash on hand of US$29.9 million at year end.
Midas Gold Corp. (MAX:TSX / MDRPF:OTCQX) today announced that it has been advised that the United States Forest Service (“USFS”) anticipates issuing a Draft Environmental Impact Statement (“Draft EIS”) for public comment in late Q4 2019, with a Final EIS and Draft Record of Decision (“ROD”) anticipated in Q3 2020 for the Stibnite Gold Project (“Project”). This schedule would put the Final ROD for the Project in late Q4 2020 and incorporates the impacts the partial shutdown of the federal government and additional modelling of alternatives requested by the regulators. The USFS, in cooperation with the six other federal, state and local agencies responsible for the permitting schedule, provided the updated timeline as part of its quarterly update on the Project, which is located in Valley County, 39 miles east of McCall and 14 miles from Yellow Pine, Idaho.