Three days after laying off miners at its Pan gold mine in Nevada, Midway Gold Corp. said that it is filing for chapter 11 protection, the Denver Business Journal reported today. The gold company said in a statement that it will "restructure its business by attempting to sell non-core assets and resolving various challenges relating to Midway’s main asset, the Pan Mine project. The debtors believe that additional time and resources are necessary to successfully maximizing value at the Pan mine, which opened in March but the company said Friday it was laying off miners there because gold recovery "has continued to fall short of expectations."
