Midway Gold sees $2.39 million of October net income, negative revenue

By Caroline Salls

Pittsburgh, Dec. 1 – Midway Gold Corp. reported $2.39 million of net income for October on negative $1.6 million in total revenue, according to its monthly operating report filed Tuesday with the U.S. Bankruptcy Court for the District of Colorado.

For September, Midway posted $2.82 million of net income on negative $1.66 million in total revenue.

The company also held $2.78 million in cash and cash equivalents as of Oct. 31, down from $3.79 million at the end of September.

Midway, based in Vancouver, B.C., is a development-stage company that acquires, explores and develops gold and silver mineral properties in North America. The company filed for bankruptcy on June 22 under Chapter 11 case number 15-16835.

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