Vista Gold Corp (VGZ) SEC Filing 10-Q Quarterly report for the period ending Tuesday, June 30, 2020

Vista Gold Corp

CIK: 783324 Ticker: VGZ


Exhibit 99.1



7961 Shaffer Parkway

Suite 5

Littleton, CO 80127

Phone: 720-981-1185

Trading Symbol: VGZ

NYSE American and TSX Stock Exchanges





Vista Gold Corp. Receives $2.4 Million Awak Mas Option Payment


Denver, Colorado, May 5, 2020 – Vista Gold Corp. (NYSE American and TSX: VGZ) (“Vista” or the “Company”) today announced receipt of $2.4 million from 

PT Masmindo Dwi Area (“PT Masmindo”) to exercise its option to cancel 50% of the Awak Mas net smelter return (“NSR”) royalty. Management has also scheduled a conference call on May 8, 2020 at 10:00 am MT to discuss first quarter 2020 financial results and provide a general corporate update.


Vista holds an NSR royalty on the Awak Mas project in Indonesia. During 2019, Vista and PT Masmindo amended the original royalty agreement to grant PT Masmindo the right to cancel the NSR royalty held by Vista (see news releases November 4, 2019 and April 30, 2020). Receipt of this payment cancels 50% of the NSR royalty, and PT Masmindo retains the right to cancel the remaining 1.0% NSR royalty on the first 1,250,000 ounces of gold produced and 1.25% NSR royalty on the next 1,250,000 ounces of gold produced for an additional payment of $2.5 million by April 30, 2021. If PT Masmindo does not make the $2.5 million payment by April 30, 2021, Vista will retain the remaining royalty interest and can pursue alternative monetization strategies.


Frederick H. Earnest, President and Chief Executive Officer, commented, “We are pleased to have received the first of two option payments from PT Masmindo related to the cancelation of Vista’s Awak Mas NSR royalty. The $2.4 million strengthens our balance sheet as we advance our activities to seek a strategic partner for the construction and development of our Mt Todd Gold Project. Our efforts to monetize other non-core assets are ongoing.”


Management Conference Call


A conference call with management to review our financial results for the first quarter ended March 31, 2020 and to discuss corporate and project activities is scheduled for May 8, 2020 at 10:00 am MDT.


Participant Toll Free: 888-378-4413

Participant International: 647-792-1280

Conference ID: 7842578


This call will be archived and available at after May 8, 2020. Audio replay will be available for 21 days by calling toll-free in North America: 888-203-1112.


If you are unable to access the audio or phone-in on the day of the conference call, please email your questions to


All dollar amounts in this press release are in U.S. dollars.


The following information was filed by Vista Gold Corp (VGZ) on Wednesday, May 6, 2020 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.

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

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Unaudited Condensed Consolidated Balance Sheets
Unaudited Consolidated Balance Sheets (Parenthetical)
Unaudited Consolidated Statements Of Cash Flows
Unaudited Consolidated Statements Of Income/(Loss)
Unaudited Consolidated Statements Of Shareholders' Equity
Commitments And Contingencies
Commitments And Contingencies (Details)
Common Shares
Common Shares (Tables)
Common Shares - Assumptions (Details)
Common Shares - Atm Agreement (Details)
Common Shares - Stock-Based Compensation (Details)
Common Shares - Summary Of Deferred Share Units Activity (Details)
Common Shares - Summary Of Option Activity (Details)
Common Shares - Summary Of Phantom Units Activity (Details)
Common Shares - Summary Of Restricted Stock Units Activity (Details)
Common Shares - Summary Of The Status Of Unvested Stock Options (Details)
Common Shares - Unrecognized Compensation (Details)
Common Shares - Warrants (Details)
Fair Value Accounting
Fair Value Accounting (Details)
Fair Value Accounting (Tables)
Geographic And Segment Information
Geographic And Segment Information (Details)
Mineral Properties
Mineral Properties (Tables)
Mineral Properties - Awak Mas (Details)
Mineral Properties - Guadalupe (Details)
Mineral Properties - Properties (Details)
Nature Of Operations (Details)
Nature Of Operations And Basis Of Presentation
Plant And Equipment
Plant And Equipment (Details)
Plant And Equipment (Tables)
Provision For Environmental Liability
Provision For Environmental Liability (Details)
Short-Term And Other Investments
Short-Term And Other Investments - Other Investments (Details)
Short-Term And Other Investments - Short-Term (Details)
Significant Accounting Policies
Ticker: VGZ
CIK: 783324
Form Type: 10-Q Quarterly Report
Accession Number: 0000783324-20-000034
Submitted to the SEC: Wed Jul 29 2020 4:49:58 PM EST
Accepted by the SEC: Wed Jul 29 2020
Period: Tuesday, June 30, 2020
Industry: Gold And Silver Ores

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