Vista Gold Corp (VGZ) SEC Filing 10-Q Quarterly Report for the period ending Thursday, March 31, 2022

SEC Filings

VGZ Quarterly Reports

Vista Gold Corp

CIK: 783324 Ticker: VGZ

Exhibit 99.1


Vista Gold Corp. Announces 2021 Financial Results and

Files Feasibility Study for the Mt Todd Gold Project

Denver, Colorado, February 24, 2022

– Vista Gold Corp. (NYSE American and TSX: VGZ) (“Vista” or the “Company”) today announced its audited financial results for the year ended December 31, 2021 and filed the feasibility study (“FS”) reports for its 100% owned Mt Todd Gold Project (“Mt Todd” or the “Project”) in the Northern Territory, Australia. The Company’s 2021 financial results are highlighted by reported cash totaling $13.1 million at year-end 2021.

Frederick H. Earnest, President and Chief Executive Officer of Vista, stated, “The size, location, permitting status, and recently completed FS position Mt Todd as one of the most attractive, development-ready gold projects in the world. With total cash of $13.1 million at year-end 2021, our balance sheet is strong and our prospects for unlocking shareholder value have never been greater.

Two of the most significant achievements during 2021 were the approval of the Mining Management Plan (“MMP”) and the initiation of the FS. The MMP was approved in June 2021 and marked a significant de-risking milestone. With the MMP in hand, Vista now has all major operating and environmental permits required to proceed with development of Mt Todd.”

Mr. Earnest continued, “As previously announced, the FS was completed in early February 2022, delivering a 7 million ounce gold reserve with high operating margins over a 16-year mine life. The FS affirms the strength of Mt Todd’s gold production capacity and ability to deliver robust economics with significant cashflows and resilience to inflation. Our ongoing exploration program continues to identify targets for efficient future mineral resource expansion. A few highlights from the FS include:

After-tax NPV5% of $999.5 million and IRR of 20.6% at a $1,600 gold price and a $0.71 Fx rate;
After-tax NPV5% of $1.5 billion and IRR of 26.7% at a $1,800 gold price and $0.71 Fx rate;
After-tax cash flow at a $1,800 gold price of $2.1 billion for years 1 – 7 of commercial operations; and
Average annual production of 479,000 ounces of gold during years 1 – 7 of commercial operations.

Note: All dollar amounts stated herein are in U.S. currency and are expressed as $ unless specified otherwise. All foreign exchange (“Fx”) rates are in U.S. dollars per Australian dollar.

Mt Todd is a unique and compelling near-term development opportunity. We believe the results of the FS will appeal to many potential partners, investors and lenders and allow us to evaluate a broad range of development alternatives as we seek to unlock maximum shareholder value in 2022.” (See Vista Gold FS News Release and Mt Todd FS Webcast).

The following information was filed by Vista Gold Corp (VGZ) on Thursday, February 24, 2022 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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Vista Gold Corp's Definitive Proxy Statement (Form DEF 14A) filed after their 2022 10-K Annual Report includes:

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  • Executive Team
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  • Peers / Competitors


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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 Condensed Consolidated Balance Sheets (Parenthetical)
Unaudited Condensed Consolidated Statements Of Cash Flows
Unaudited Condensed Consolidated Statements Of Income (Loss)
Unaudited Condensed Consolidated Statements Of Shareholders' Equity
Commitments And Contingencies
Commitments And Contingencies (Details)
Common Shares
Common Shares (Tables)
Common Shares - Equity Financings (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 - Unrecognized Compensation (Details)
Common Shares - Warrants (Details)
Geographic And Segment Information
Geographic And Segment Information (Details)
Mineral Properties
Mineral Properties (Tables)
Mineral Properties - Awak Mas (Details)
Mineral Properties - Mt. Todd, Northern Territory, Australia (Details)
Nature Of Operations And Basis Of Presentation
Nature Of Operations And Basis Of Presentation (Details)
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 (Details)
Significant Accounting Policies
Significant Accounting Policies (Policies)
Ticker: VGZ
CIK: 783324
Form Type: 10-Q Quarterly Report
Accession Number: 0000783324-22-000021
Submitted to the SEC: Mon May 02 2022 4:20:26 PM EST
Accepted by the SEC: Mon May 02 2022
Period: Thursday, March 31, 2022
Industry: Gold And Silver Ores

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