Virtually any trade for Panarin is going to include a first.

CBJ is getting good value here though.

Pass on any trade for Panarin.

IF you can get Panarin for that, replacing the 2nd-round pick with the 2019 first, I think this would be good for both teams. But next time, don't forget to rearrange your lines. (I'm sure you don't intend to have Panarin playing on the third line.)

Plus that's the second that might (cough, cough) become a first.

Ah yes

CBJ passes on this instantly.
They aren't trading Milano who is a good younger player former 1st round pick who clearly has NHL level talent, is still a RFA next year, along with Panarin for 2 rentals, a 2nd(even if it's a 1st it's really a 2nd) and a prospect.
That's a pipe dream.
CBJ isn't parting with Milano, period.
Panarin will be a 1st and A+ prospect from someone if they trade him.