Midway Gold Corp. is a precious metals company focused on exploring, designing, building and operating mines in an accountable manner while producing an acceptable return to its shareholders. The company controls mineral rights along three major gold trends in Nevada and in the Republic district of Washington.
Midway’s technical staff has extensive exploration and mining experience, acquiring and finding five new deposits in five years, and holding an overall discovery record of over 30 million ounces of gold. The team is led by President, COO and Director Kenneth A. Brunk who has conducted numerous feasibility studies and been responsible for designing, constructing, staffing and operating multiple mining operations around the world.
In recent news, Midway Gold announced that exploration drilling conducted in the fourth quarter of last year resulted in an extension of the mineralized strike length by about 1.8 km to the south-southwest of the previously known gold resource at Spring Valley. Mr. Brunk commented, “It will be exciting to watch the development of this potentially world-class gold system.”
The macroeconomic environment, including a weakening dollar, the sovereign debt crisis in the Euro-zone, increased liquidity and loose fiscal policies, are supporting higher gold prices. Since 2001, gold prices have quadrupled, rising to all-time highs of over $1,400 an ounce. According to industry estimates, gold prices are expected to near $2,000 per ounce by the end of 2011.