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Midway Gold posts $253,532 of August net income on zero total revenue
By Caroline Salls
Pittsburgh, Sept. 30 – Midway Gold Corp. posted net income of $253,532 for August on zero revenue, according to its monthly operating report filed Friday with the U.S. Bankruptcy Court for the District of Colorado.
The company reported $585,945 in net income for July, also on zero revenue.
In addition, Midway had $20.66 million in cash and cash equivalents as of Aug. 31, down from $26.8 million at the end of July.
Based in Vancouver, B.C., Midway Gold 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, 2015 under Chapter 11 case number 15-16835.
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