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Vista Gold Corp. (VGZ)

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Previous Close0.9380
Open0.9300
Bid0.9412 x 800
Ask1.0000 x 900
Day's Range0.9200 - 0.9600
52 Week Range0.3600 - 1.4500
Volume362,154
Avg. Volume313,867
Market Cap98.064M
Beta (5Y Monthly)1.32
PE Ratio (TTM)68.21
EPS (TTM)0.0140
Earnings DateOct 29, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est2.50
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  • Vista Gold Corp. Reports Third Quarter 2020 Cash plus Short-Term Investments of $10.2 Million and Provides an Update on Mt Todd
    GlobeNewswire

    Vista Gold Corp. Reports Third Quarter 2020 Cash plus Short-Term Investments of $10.2 Million and Provides an Update on Mt Todd

    DENVER, Oct. 28, 2020 (GLOBE NEWSWIRE) -- Vista Gold Corp. (NYSE American and TSX: VGZ) (“Vista” or the “Company”) today reported its unaudited financial results for the quarter ended September 30, 2020 and provided an update on the Company’s 100% owned Mt Todd gold project (“Mt Todd” or the “Project”) located in the Tier 1 mining jurisdiction of Northern Territory, Australia. Vista’s third quarter net income was $4.2 million or $0.05 per share, and cash plus short-term investments totaled $10.2 million. Frederick H. Earnest, President and Chief Executive Officer of Vista, stated, “We are extremely pleased with our third quarter financial results. We believe our strong balance sheet provides a solid foundation as we continue to methodically advance and de-risk the world-class Mt Todd gold project and seek a strategic partner.”With respect to exploration activities at Mt Todd, Mr. Earnest continued, “We believe that the higher-grade core zone of the Batman deposit could extend to the north. We have commenced a proof of concept drilling program to test targets known as the Batman north extension and hanging wall lodes. We are excited about the potential represented by these targets. Should the drill results confirm an extension of the structures and mineralization that form the Batman deposit, ongoing work could ultimately lead to future changes to the mine design, with the combined benefits of better grade and lower stripping.” Vista CEO Video.Recent Developments * Commenced a drilling program with the goal of confirming the existence of higher-grade, near surface mineralization immediately adjacent to the planned Batman pit – assay results from the first holes are expected in the next weeks with full program results continuing as the program progresses; * Completed geotechnical field work for crusher and ball mill foundation designs that is expected to shorten the time required to complete a future feasibility study, reduce related initial capital cost estimates, and support detailed engineering; and * Continued dewatering the Batman pit and lowered the water level by 17.8 meters, with approximately 2.1 gigalitres (“GL”) remaining. The Batman pit is expected to be effectively dewatered by mid-2021, representing an important milestone to be completed prior to a potential start of construction. Mr. Earnest added, “Dewatering the Batman pit will mark the completion of a program to treat over 11 GL of acidic mine waste rock drainage and subsequently discharge that volume as clean water. The protocols developed at Mt Todd have been recommended to other mining companies by the Northern Territory Environmental Protection Agency. We are proud of the success achieved to-date. This program exemplifies our commitment to environmental stewardship. It has been one of the cornerstone activities that has cemented the excellent relationship we enjoy with the local project stakeholders and communities.”Summary of Third Quarter 2020 Financial ResultsAt September 30, 2020, cash plus short-term investments (comprised of government securities) totaled $10.2 million and working capital was $9.9 million. We expect our current cash position to be further strengthened by up to $4.6 million from upcoming cash payments of $2.1 million from Prime Mining Corp. (“Prime Mining”) and an option payment of $2.5 million from the cancelation of the Company’s royalty on the Awak Mas project. The Company has no debt.Vista reported net income of $4.2 million, or $0.05 per share for the three months ended September 30, 2020. The Company benefited from a gain of $3.5 million associated with the final Guadalupe de los Reyes (“Los Reyes”) purchase price payment and transfer of Los Reyes to Prime Mining and a gain of $2.4 million from sales of other investments.About Vista Gold Corp.Vista is a gold project developer. The Company’s flagship asset is the Mt Todd gold project in the Tier 1 jurisdiction of Northern Territory, Australia. Mt Todd is the largest undeveloped gold project in Australia and, if developed as presently designed, would potentially be Australia’s 6th largest gold producer on an annual basis.Management Conference CallManagement’s quarterly conference call to discuss these results is scheduled for 10:00 a.m. MDT on October 29, 2020. Management’s Discussion and Analysis together with other important disclosures are available in the Company’s Quarterly Report on Form 10-Q, filed today with the U.S. Securities and Exchange Commission and the Canadian securities regulatory authorities.Participant Toll Free: 800-367-2403 Participant International: 334-777-6978 Conference ID: 7545208This call will also be archived and available at www.vistagold.com after October 29, 2020. Audio replay will be available for 21 days by calling toll-free in North America 888-203-1112 with passcode 7545208.If you are unable to access the audio or phone-in on the day of the conference call, please email your questions to ir@vistagold.com.All dollar amounts in this press release are in U.S. dollars.For further information, please contact Pamela Solly, Vice President of Investor Relations, at (720) 981-1185.Forward Looking Statements This press release contains forward-looking statements within the meaning of the U.S. Securities Act of 1933, as amended, and U.S. Securities Exchange Act of 1934, as amended, and forward-looking information within the meaning of Canadian securities laws. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that we expect or anticipate will or may occur in the future, including such things as the expected date for our management’s call regarding our financial results; our belief that the higher-grade core zone of the Batman deposit could extend to the north; that ongoing work on the Batman deposit could ultimately lead to future changes to the mine design, with the combined benefits of better grade and lower stripping; that assay results from the first holes drilled adjacent to the Batman pit are expected in the next weeks; that the results of geotechnical field work is expected to shorten the time required to complete a future feasibility study, reduce related initial capital cost estimates, and support detailed engineering; that the Batman pit is expected to be effectively dewatered by mid-2021; our expectation to receive upcoming cash payments from Prime Mining and from the cancelation of the Company’s royalties on the Awak Mas project; our plans to continue to advance the process of seeking a partner for the construction and development of Mt Todd; our plans to continue to efficiently optimize and advance Mt Todd; and our belief that Mt Todd is the largest undeveloped gold project in Australia, and if developed, that it would be Australia’s 6th largest gold producer on an annual basis are forward-looking statements and forward-looking information. The material factors and assumptions used to develop the forward-looking statements and forward-looking information contained in this press release include the following: our forecasts and expected cash flows; our projected capital and operating costs; our expectations regarding mining and metallurgical recoveries; mine life and production rates; that laws or regulations impacting mine development or mining activities will remain consistent; our approved business plans, our mineral resource and reserve estimates and results of preliminary economic assessments; preliminary feasibility studies and feasibility studies on our projects, if any; our experience with regulators; our experience and knowledge of the Australian mining industry and our expectations of economic conditions and the price of gold. When used in this press release, the words “optimistic,” “potential,” “indicate,” “expect,” “intend,” “hopes,” “believe,” “may,” “will,” “if,” “anticipate, ” and similar expressions are intended to identify forward-looking statements and forward-looking information. These statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such statements. Such factors include, among others, uncertainty of resource and reserve estimates, uncertainty as to the Company’s future operating costs and ability to raise capital; risks relating to cost increases for capital and operating costs; risks of shortages and fluctuating costs of equipment or supplies; risks relating to fluctuations in the price of gold; the inherently hazardous nature of mining-related activities; potential effects on our operations of environmental regulations in the countries in which it operates; risks due to legal proceedings; risks relating to political and economic instability in certain countries in which it operates; uncertainty as to the results of bulk metallurgical test work; uncertainty as to completion of critical milestones for Mt Todd; and uncertainty as to the impact of the ongoing global health crisis caused by the COVID-19 pandemic; as well as those factors discussed under the headings “Note Regarding Forward-Looking Statements” and “Risk Factors” in the Company’s latest Annual Report on Form 10-K as filed in February 2020 and other documents filed with the U.S. Securities and Exchange Commission and Canadian securities regulatory authorities. Although we have attempted to identify important factors that could cause actual results to differ materially from those described in forward-looking statements and forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Except as required by law, we assume no obligation to publicly update any forward-looking statements or forward-looking information; whether as a result of new information, future events or otherwise.

  • GlobeNewswire

    Vista Gold Corp. Files Final Short Form Base Shelf Prospectus

    DENVER, Oct. 06, 2020 (GLOBE NEWSWIRE) -- Vista Gold Corp. (“Vista” or the “Company”) (NYSE American and TSX: VGZ) today announced that it has filed a final Short Form Base Shelf Prospectus (“Shelf Prospectus”) with the securities commissions in each of the provinces of Canada, other than Quebec, to complement the Shelf Registration Statement filed with the U.S. Securities and Exchange Commission earlier this year. The amount and timing of any future offerings will be based on the Company’s financial requirements and market conditions at the time. In conjunction with the Shelf Prospectus, Vista also filed an amended National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) preliminary feasibility study (the “Amended 2019 PFS”) for its Mt Todd gold project (“Mt Todd” or the “Project”) in Northern Territory, Australia to clarify certain information, as described below.This press release does not constitute an offer to sell or the solicitation of an offer to buy securities, nor will there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.Frederick H. Earnest, President and Chief Executive Officer, stated, “The Shelf Prospectus is part of the Company’s ongoing business practice to maintain financing flexibility without any incumbent obligation to use the instrument. The Amended 2019 PFS clarifies certain information as previously disclosed in the 2019 PFS. The Company, together with qualified persons (“QPs”), have updated certain sections in the document filed on SEDAR on October 5, 2020. The changes between the 2019 PFS and the Amended 2019 PFS were made to meet several form requirements and provide additional clarity. There are no material differences between the 2019 PFS and the Amended 2019 PFS; however, the Company advises readers not to rely on the initial version of the technical report. Mineral reserve and mineral resource estimates, gold recoveries, designs or design parameters, capital and operating costs, financial results, production profiles and the recommendations and conclusions provided in the Amended 2019 PFS are materially unchanged.”The following items address specific changes in the Amended 2019 PFS: * Changes to the title page to include each QPs professional designation to comply with form requirements * Additions to Section 2 - Introduction to include steps taken by QPs to independently verify information to comply with form requirements * Clarification of QP disclaimers and additions to Section 3 – Reliance on Other Experts to comply with form requirements * Additions to Section 9 - Exploration and Section 10 - Drilling to comply with form requirements * Removal of disclosure for an alternate development scenario for a 33,000 tpd project * Clarification of credentials in certificates for specific QPs * Certain other minor changes to comply with form requirements There are no changes to the following key items in the Amended 2019 PFS: * Reported measured, indicated, and inferred mineral resources for the Batman deposit and the Heap Leach pad. There was a slight increase in the measured, indicated and inferred resources for the Quigleys deposit that was deemed nonmaterial by the QP. * Reported design parameters for the open pit mine plans * Reported proven and probable mineral reserves * Reported design parameters for the process plant or process flow sheet * Reported metallurgical recoveries and associated supporting test work * Reported capital and operating costs * Reported design parameters for the tailings dams and waste rock dump * Reported design parameters and associated costs for the reclamation plan * Reported financial results from the cash flow analysis, rates of return, and schedules The Mt Todd independent benchmarking study dated February 20, 2020 (“Study”) utilized data from the 2019 PFS. As a result of no material physical or financial changes as described above, the Company believes the Study remains current and is applicable to the Amended 2019 PFS.This information is intended to assist stakeholders and other readers of the Amended 2019 PFS in their understanding of the Mt Todd Project and in forming judgements regarding the quality of the data collected, reported, and used in the Amended 2019 PFS.For further information on the results of the Amended 2019 PFS and the Project, see the technical report entitled “NI 43-101 Technical Report Mt Todd Gold Project 50,000 tpd Preliminary Feasibility Study Northern Territory, Australia,” with an effective date of September 10, 2019, an issue date of October 7, 2019, and as amended September 22, 2020, which is available on SEDAR at www.sedar.com, EDGAR at www.sec.gov, as well as on Vista’s website under “Mt Todd – Technical Reports.”John Rozelle, Vista’s Senior Vice President, a Qualified Person as defined by NI 43-101, has approved the information in this press release.About Vista Gold Corp.The Company is a gold project developer. The Company’s flagship asset is the Mt Todd gold project in Northern Territory, Australia.For further information about Vista or the Mt Todd Gold Project, please contact Pamela Solly, Vice President of Investor Relations, at (720) 981-1185 or visit the Company’s website at www.vistagold.com to access important information, including technical studies and mineral resource estimates.Forward Looking StatementsThis press release contains forward-looking statements within the meaning of the U.S. Securities Act of 1933, as amended, and U.S. Securities Exchange Act of 1934, as amended, and forward-looking information within the meaning of Canadian securities laws. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that Vista expects or anticipates will or may occur in the future, including such things as, discussion related to the Company’s plans for any future offerings and other such matters are forward-looking statements and forward-looking information. The material factors and assumptions used to develop the forward-looking statements and forward-looking information contained in this press release include the following: general economic and business conditions; the accuracy of the results of the PFS, mineral resource and reserve estimates, and exploration and assay results; the terms and conditions of our agreements with contractors and our approved business plan; the anticipated timing and completion of a feasibility study on the Project; the anticipated receipt of required permits; no change in laws that materially impact mining development or operations of a mining business; the potential occurrence and timing of a production decision; the anticipated gold production at the Project; the life of any mine at the Project; and all economic projections relating to the Project, including estimated cash cost, NPV5%, IRR, and initial capital requirements. When used in this press release, the words “optimistic,” “potential,” “indicate,” “expect,” “intend,” “plans,” “hopes,” “believe,” “may,” “will,” “if,” “anticipate,” and similar expressions are intended to identify forward-looking statements and forward-looking information. These statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Vista to be materially different from any future results, performance or achievements expressed or implied by such statements. Such factors include, among others, uncertainty of mineral resource estimates, estimates of results based on such mineral resource estimates; risks relating to cost increases for capital and operating costs; risks related to the timing and the ability to obtain the necessary permits, risks of shortages and fluctuating costs of equipment or supplies; risks relating to fluctuations in the price of gold; the inherently hazardous nature of mining-related activities; potential effects on Vista’s operations of environmental regulations in the countries in which it operates; risks due to legal proceedings; risks relating to political and economic instability in certain countries in which it operates; as well as those factors discussed under the headings “Note Regarding Forward-Looking Statements” and “Risk Factors” in Vista’s Annual Report Form 10-K as filed in February 26, 2020 and other documents filed with the U.S. Securities and Exchange Commission and Canadian securities regulatory authorities. Although Vista has attempted to identify important factors that could cause actual results to differ materially from those described in forward-looking statements and forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Except as required by law, Vista assumes no obligation to publicly update any forward-looking statements or forward-looking information; whether as a result of new information, future events or otherwise.Cautionary Note to United States Investors The United States Securities and Exchange Commission (“SEC”) limits disclosure for U.S. reporting purposes to mineral deposits that a company can economically and legally extract or produce. This press release and the Amended 2019 PFS use the terms “Proven reserves” and “Probable reserves”. Reserve estimates in the Amended 2019 PFS are made pursuant to NI 43-101 standards in Canada and do not represent reserves under the standards of the SEC’s Industry Guide 7 and may not constitute reserves under the SEC’s newly adopted disclosure rules to modernize mineral property disclosure requirements, which became effective February 25, 2019 and will be applicable to the Company in its annual report for the fiscal year ending December 31, 2021. Under the currently applicable SEC Industry Guide 7 standards, a “final” or “bankable” feasibility study is required to report reserves, the three-year historical average price is used in any reserve or cash flow analysis to designate reserves and all necessary permits and government approvals must be filed with the appropriate governmental authority. Additionally, this press release and the Amended 2019 PFS use the terms “measured resources”, “indicated resources”, and “inferred resources”. We advise U.S. investors that while these terms are Canadian mining terms as defined in accordance with NI 43-101, such terms are not recognized under SEC Industry Guide 7 and normally are not permitted to be used in reports and registration statements filed with the SEC. Mineral resources described in the Amended 2019 PFS have a great amount of uncertainty as to their economic and legal feasibility. The SEC normally only permits issuers to report mineralization that does not constitute SEC Industry Guide 7 compliant “reserves” as in-place tonnage and grade, without reference to unit measures. The term “contained gold ounces” used in the Amended 2019 PFS is not permitted under the rules of the SEC. “Inferred resources” have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that any or all part of an inferred resource will ever be upgraded to a higher category. U.S. Investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into SEC Industry Guide 7 reserves.

  • Here's Why We're Not Too Worried About Vista Gold's (NYSEMKT:VGZ) Cash Burn Situation
    Simply Wall St.

    Here's Why We're Not Too Worried About Vista Gold's (NYSEMKT:VGZ) Cash Burn Situation

    Just because a business does not make any money, does not mean that the stock will go down. For example, although...