By Vivien Diniz
Gold Investing News
Denver-based Midway Gold (TSX:MDW, NYSE:MDW) is off to a good start this week following a double-whammy Tuesday announcement that included both a resource upgrade and a budget boost. Sure enough, the Nevada-focused gold company has seen its share price climb 4.12 % following the news.
Causing all the fuss is no doubt the exciting 102% increase in the Spring Valley mineral resource estimate,which now has the project’s resource seated at 4.37 million ounces of measured and indicated gold. Added to that, the company also bumped up the M&I resource’s grade by 20%. On the inferred side, the new estimate has listed the resource at 1.07 million ounces. To get to these results, the company revised its previous estimate using the results collected Gold from the 2011-2013 drilling seasons.