Vista Gold Corp (VGZ) 10-Q Quarterly Report May 2019

– Vista Gold Corp. (TSX & NYSE American: VGZ) (“Vista” or the “Company”) today announced its audited financial results and highlights for the fiscal year ended December 31, 2018. Management’s quarterly conference call to discuss these results is scheduled for 2:30 p.m. MST on February 27, 2019. The Company’s consolidated audited financial statements, Management’s Discussion and Analysis together with other important disclosures can be found in the Company’s Annual Report on Form 10-K, filed with the U.S. Securities and Exchange Commission and the Canadian securities regulatory authorities.

2018 Mt Todd Highlights

Vista is focused on the Mt Todd gold project in Northern Territory, Australia where the Company completed and announced a number of important project economic and permitting milestones in 2018, including:

In January 2018, Vista was notified that its request for authorization of a controlled activity, as required under the Commonwealth Environmental Protection and Biodiversity Conservation Act, had been approved. With this approval, Vista holds all major environmental approvals necessary for the development of the Mt Todd gold project.

Also in January 2018, Vista announced the results of an updated Mt Todd preliminary feasibility study (“PFS”) which demonstrated significant economic improvements resulting from the inclusion of ore sorting, a newly designed two-stage grinding circuit and improved gold recoveries estimated to be 86.4%.

In August 2018, the Company announced that additional fine-grinding and leaching tests completed on low-grade samples (averaging 0.66 grams gold per tonne) demonstrated that with a modified PFS grinding circuit, including fine grinding capability, it was possible to produce a finer final product with improved gold recoveries in excess of 90%, with no increase in process area power requirements.

In November 2018, the Company filed the Mine Management Plan (mine operating permit) for the Mt Todd gold project with the Northern Territory Department of Mines.

Additionally, in January 2019 Vista announced that high pressure grinding roll crusher and ore sorting tests on 5 tonnes of high-grade samples confirmed previous ore sorting test results. The material from those tests is now being used to confirm the Company’s expectation of gold recoveries above 90% over a broad range of ore head grades. Analysis indicates that each 1% improvement in gold recoveries could add approximately 0.5% to Mt Todd’s after-tax IRR, and approximately $25 million to after-tax NPV_5%.

Frederick H. Earnest, President and Chief Executive Officer, commented, “2018 was a productive year for Vista. We successfully demonstrated the positive economic impact of the testing programs and design changes completed over the previous 16 months. Subsequently, we identified new optimization opportunities that we expect will have additional positive impacts on the Mt Todd project economics. With the project optimization testing programs coming to a conclusion, we plan to release an updated PFS for the Mt Todd gold project in the second quarter of this year. We expect this study will further demonstrate the positive impacts of the recently improved gold prices, weaker Australian dollar, and improved gold recovery resulting from a finer final grind size than was thought to be achievable in January 2018.”

The following information was filed by Vista Gold Corp (VGZ) on Monday, March 4, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

Please wait while we load the requested 10-Q report or click the link below:

https://last10k.com/sec-filings/report/783324/000078332419000016/vgz-20190331x10q.htm

View differences made from one quarter to another to evaluate Vista Gold Corp's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ) — *Sample 10-K Year-over-Year (YoY) Comparison*

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were ~~removed~~ , added and changed by Vista Gold Corp.

Continue

Assess how Vista Gold Corp's management team is paid from their Annual Proxy

Vista Gold Corp's Definitive Proxy Statement (Form DEF 14A) filed after their 2019 10-K Annual Report includes:

Voting Procedures
Board Members
Executive Team
Salaries, Bonuses, Perks
Peers / Competitors

Continue

Rating
Learn More

Filter Sentiment:

All

Positive

Negative

Filter Category:

All

Financial

Revenue

Other

Filter Subcategory:

All

Expense

Geography

Dividend

Other

Inside Vista Gold Corp's 10-Q Quarterly Report:

Financial - Expense Highlight
inherent hazards of mining exploration, development and operating activities; a shortage of skilled labor, equipment and supplies; the accuracy of calculations of mineral reserves, mineral resources and mineralized material and fluctuations therein based on metal prices, and inherent vulnerability of the ore and recoverability of metal in the mining process; changes in environmental regulations to which our exploration and development operations are subject; and changes in climate change regulations could result in increased operating costs.

Financial - Shares Highlight
Under the ATM Agreement the Company may, but is not obligated to, issue and sell shares of the Companys common stock through Wainwright as sales manager in an at-the-market offering under a prospectus supplement for aggregate sales proceeds of up to $10,000 (the ATM Program).
Financial - Expense Highlight
The decreased use of cash in 2019 was the result of $875 lower cash costs and a reduction in accounts payable and accrued liabilities of $962 during the first quarter 2018, which is non-recurring.
Financial - Expense Highlight
The magnitude of discretionary program spending during the three months ended March 31, 2019 was also lower than the 2018 discretionary costs.
Other - Other Highlight
For a more detailed discussion of such risks and other important factors that could cause actual results to differ materially from those in such forward-looking statements and forward-looking information, please see the risk factors contained in our Annual Report on Form 10-K for the year ended December 31, 2018, under Part I-Item 1A.
Financial - Shares
Our net working capital decreased...Read more
Financial - Expense
The majority of the Company?s...Read more
Other - Other
In January 2018, the Company...Read more
Financial - Expense
These costs are predominantly associated...Read more
Other - Other
Management believes that the design...Read more
Other - Other
Gain/(loss) on other investments Gain/(loss)...Read more
Other - Other
Vista plans to integrate these...Read more
Financial - Expense
We believe that our existing...Read more
Other - Other
Subsequently, we completed additional metallurgical...Read more
Revenue - Geography
For additional information on Mt...Read more
Financial - Expense
2019 first quarter costs do...Read more
Financial - Expense
Upon completion of the confirmation...Read more
Financial - Expense
In addition to the potential...Read more
Revenue - Geography
The following table illustrates the...Read more

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Material Contracts, Statements, Certifications & more

Vista Gold Corp provided additional information to their SEC Filing as exhibits

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Exhibit 32.2: Section 1350 Certification

Ticker: VGZ
CIK: 783324
Form Type: 10-Q Quarterly Report
Accession Number: 0000783324-19-000016
Submitted to the SEC: Mon May 06 2019 3:20:26 PM EST
Accepted by the SEC: Tue May 07 2019
Period: Sunday, March 31, 2019
Industry: Gold And Silver Ores