Vista Gold Corp. (VGZ) reported its Q3 2024 financial results with cash totaling $19.0 million, up from $6.1 million at December 31, 2023. The company posted a net loss of $1.6 million, or $0.01 per share. Vista is nearing completion of a 6,000-7,000 meter drilling program at Mt Todd, with successful confirmation of the Batman deposit extension. The company is finalizing studies for a potential 12,000-17,000 tonnes per day operation targeting 150,000-200,000 ounces of annual gold production with initial capital costs below $400 million. Vista filed a new $50 million Shelf Registration to replace its expiring $100 million registration.
Positive
- Cash position increased significantly to $19.0 million from $6.1 million at year-end 2023
- Successful drilling program confirming Batman deposit extension
- Zero debt position maintained
Negative
- Net loss of $1.6 million in Q3 2024, slightly higher than $1.5 million loss in Q3 2023
- Reduced Shelf Registration from $100 million to $50 million
Insights
Vista Gold’s Q3 results reveal a strategic focus on development amid challenging market conditions. The
The planned feasibility study targeting 12-17 ktpd throughput with projected annual gold production of 150,000-200,000 ounces and initial capital under
The new
Additional Insight: Vista Gold’s strategic shift towards a more capital-efficient development approach is likely a response to market dynamics and investor expectations for prudent financial management in the mining sector. By resizing their operation and reducing debt, Vista positions itself for sustained growth and value creation in the ever-changing gold market landscape.
Vista Gold Corp. (NYSE American and TSX: VGZ) (“Vista” or the “Company”) today announced its unaudited financial results for the quarter ended September 30, 2024, with cash totaling
Frederick H. Earnest, President and CEO of Vista, said, “During the third quarter, we continued to successfully execute our corporate strategy and demonstrated significant progress toward achieving our 2024 goals and objectives. We announced positive results from our ongoing drilling program, advanced technical studies to support our evaluation of an alternative scale development option at Mt Todd, continued to prioritize low overall spending, and ended the quarter with
“We believe fundamentals for gold are strong, and we are positioning Mt Todd as a leading development opportunity in the current environment of a plus
The Company is nearing completion of the planned 6,000 – 7,000 meter drilling program. Phase 1 and interim Phase 2 results were announced in August and September, respectively. To date, the drilling program has successfully confirmed the extension of the core zone and the mineralized boundaries in the northern section of the Batman deposit and identified multiple high-grade intercepts in the South Cross Lode zone, a narrower mineralized structure adjacent to the Batman deposit that extends up to 400 meters to the northeast. The drilling program is expected to be completed by year end.
Vista is finalizing trade-off studies and preliminary evaluations for Mt Todd and anticipates moving forward with a feasibility study targeting throughput in the range of 12,000 – 17,000 tonnes per day (“ktpd”) (4 – 6 million tonnes per annum), with 150,000 to 200,000 ounces of annual gold production, an initial capital cost of less than
On October 17, 2024, the Company filed a
Summary of Financial Results
Vista reported a consolidated net loss of
Cash and cash equivalents totaled
Management Conference Call
Management’s conference call to review financial results for the quarter ended September 30, 2024, and to discuss corporate and project activities is scheduled for October 24, 2024, at 10:00 a.m. MDT (12:00 p.m. EDT).
Participant Toll Free: +1 (800) 717-1738
Participant International: +1 (289) 514-5100
Conference ID: 59918
This call will be archived and available at www.vistagold.com after October 24, 2024. An audio replay will also be available through November 7, 2024, by calling toll-free in
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.
About Vista Gold Corp.
Vista holds the Mt Todd gold project, a shovel-ready development-stage gold deposit located in the Tier-1 mining jurisdiction of
Vista’s strategy is to advance Mt Todd in ways that efficiently position the project for development while exercising the discipline necessary to best realize value at the right time. Vista believes its strategy of advancing Mt Todd in this manner will deliver a more fully valued project to its shareholders.
Additional Insight: Vista Gold’s focus on efficient project development aligned with market conditions and expected outcomes enhances its attractiveness to investors and positions the company for long-term success in a competitive gold industry landscape.
Vista Gold Corp. (VGZ) reported its Q3 2024 financial results with cash totaling $19.0 million, up from $6.1 million at December 31, 2023. The company posted a net loss of $1.6 million, or $0.01 per share. Vista is nearing completion of a 6,000-7,000 meter drilling program at Mt Todd, with successful confirmation of the Batman deposit extension. The company is finalizing studies for a potential 12,000-17,000 tonnes per day operation targeting 150,000-200,000 ounces of annual gold production with initial capital costs below $400 million. Vista filed a new $50 million Shelf Registration to replace its expiring $100 million registration.
Positive
- Cash position increased significantly to $19.0 million from $6.1 million at year-end 2023
- Successful drilling program confirming Batman deposit extension
- Zero debt position maintained
Negative
- Net loss of $1.6 million in Q3 2024, slightly higher than $1.5 million loss in Q3 2023
- Reduced Shelf Registration from $100 million to $50 million
Insights
Vista Gold’s Q3 results reveal a strategic focus on development amid challenging market conditions. The
The planned feasibility study targeting 12-17 ktpd throughput with projected annual gold production of 150,000-200,000 ounces and initial capital under
The new
Additional Insight: Vista Gold’s strategic shift towards a more capital-efficient development approach is likely a response to market dynamics and investor expectations for prudent financial management in the mining sector. By resizing their operation and reducing debt, Vista positions itself for sustained growth and value creation in the ever-changing gold market landscape.
Vista Gold Corp. (NYSE American and TSX: VGZ) (“Vista” or the “Company”) today announced its unaudited financial results for the quarter ended September 30, 2024, with cash totaling
Frederick H. Earnest, President and CEO of Vista, said, “During the third quarter, we continued to successfully execute our corporate strategy and demonstrated significant progress toward achieving our 2024 goals and objectives. We announced positive results from our ongoing drilling program, advanced technical studies to support our evaluation of an alternative scale development option at Mt Todd, continued to prioritize low overall spending, and ended the quarter with
“We believe fundamentals for gold are strong, and we are positioning Mt Todd as a leading development opportunity in the current environment of a plus
The Company is nearing completion of the planned 6,000 – 7,000 meter drilling program. Phase 1 and interim Phase 2 results were announced in August and September, respectively. To date, the drilling program has successfully confirmed the extension of the core zone and the mineralized boundaries in the northern section of the Batman deposit and identified multiple high-grade intercepts in the South Cross Lode zone, a narrower mineralized structure adjacent to the Batman deposit that extends up to 400 meters to the northeast. The drilling program is expected to be completed by year end.
Vista is finalizing trade-off studies and preliminary evaluations for Mt Todd and anticipates moving forward with a feasibility study targeting throughput in the range of 12,000 – 17,000 tonnes per day (“ktpd”) (4 – 6 million tonnes per annum), with 150,000 to 200,000 ounces of annual gold production, an initial capital cost of less than
On October 17, 2024, the Company filed a
Summary of Financial Results
Vista reported a consolidated net loss of
Cash and cash equivalents totaled
Management Conference Call
Management’s conference call to review financial results for the quarter ended September 30, 2024, and to discuss corporate and project activities is scheduled for October 24, 2024, at 10:00 a.m. MDT (12:00 p.m. EDT).
Participant Toll Free: +1 (800) 717-1738
Participant International: +1 (289) 514-5100
Conference ID: 59918
This call will be archived and available at www.vistagold.com after October 24, 2024. An audio replay will also be available through November 7, 2024, by calling toll-free in
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.
About Vista Gold Corp.
Vista holds the Mt Todd gold project, a shovel-ready development-stage gold deposit located in the Tier-1 mining jurisdiction of
Vista’s strategy is to advance Mt Todd in ways that efficiently position the project for development while exercising the discipline necessary to best realize value at the right time. Vista believes its strategy of advancing Mt Todd in this manner will deliver a more fully valued project to its shareholders.
Additional Insight: Vista Gold’s focus on efficient project development aligned with market conditions and expected outcomes enhances its attractiveness to investors and positions the company for long-term success in a competitive gold industry landscape.
