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Vista Gold Corp (VGZ) SEC Filing 10-Q Quarterly report for the period ending Wednesday, September 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

    

 

NEWS

 

 

Vista Gold Corp. Announces Second Quarter 2020 Financial Results

 

Denver, Colorado, July 29, 2020

– Vista Gold Corp. (NYSE American and TSX: VGZ) (“Vista” or the “Company”) today announced its unaudited financial results with net income of $1.9 million for the quarter ended June 30, 2020. Management’s quarterly conference call to discuss these results is scheduled for 2:30 p.m. MDT on July 30, 2020. The Company’s unaudited financial statements, Management’s Discussion and Analysis together with other important disclosures are available in the Company’s Quarterly Report on Form 10-Q, filed on July 29, 2020 with the U.S. Securities and Exchange Commission (“SEC”) and the Canadian securities regulatory authorities.

 

Summary of Q2 2020 Financial Results

 

Vista reported net income of $1.9 million, or $0.01 per share for the three months ended June 30, 2020. The Company benefited from a gain of $2.6 million associated with the partial cancellation of the Company’s royalties on the Awak Mas project and a gain of $1.1 million relating to fair value adjustments and sales of other investments. Also contributing to net income was a $0.2 million decrease in operating expenses compared to the three months ended June 30, 2019.

 

Current assets at June 30, 2020 were $8.5 million. At the same date, accounts payable and accrued liabilities were $0.7 million, and the Company has no debt.

 

Other Quarterly Highlights

 

Other corporate activities and highlights for the three months ended June 30, 2020 included:

 

·Receipt of a $2.4 million cash payment to cancel 50% of the Awak Mas royalties;

 

·An amendment to the Guadalupe de los Reyes (“GdlR”) agreement to accelerate the final $1.5 million cash payment to not later than September 30, 2020 (which was received in July 2020) and provide for an additional $2.1 million to Vista over the next 12 months in lieu of receiving certain royalties and back in rights;

 

·Net proceeds received of $1.7 million from other investing and financing activities; and

 

·Filing a U.S. shelf registration statement for $25 million to replace the previous $100 million shelf registration statement that was set to expire on July 5, 2020.

 

For additional details regarding the Awak Mas transaction, GdlR transaction, and the shelf registration statement, please refer to the Company’s news releases dated May 5, June 15, and June 29, 2020, respectively.

 


The following information was filed by Vista Gold Corp (VGZ) on Wednesday, July 29, 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: 0000783324-20-000037
Submitted to the SEC: Wed Oct 28 2020 4:06:28 PM EST
Accepted by the SEC: Wed Oct 28 2020
Period: Wednesday, September 30, 2020
Industry: Gold And Silver Ores

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