Vista Gold Corp (VGZ) SEC Filing 10-Q Quarterly Report for the period ending Thursday, June 30, 2022

SEC Filings

VGZ Quarterly Reports

Vista Gold Corp

CIK: 783324 Ticker: VGZ

Exhibit 99.1


Vista Gold Corp. Announces First Quarter Financial Results and Corporate Update

Denver, Colorado, May 2, 2022

– Vista Gold Corp. (NYSE American and TSX: VGZ) (“Vista” or the “Company”) today announced its unaudited financial results for the quarter ended March 31, 2022, which are highlighted by reported cash totaling $12.8 million. All dollar amounts in this press release are in U.S. dollars.

Frederick H. Earnest, President and Chief Executive Officer of Vista, commented, “As announced in February, we achieved a major milestone with the completion of the Feasibility Study (“2022 FS”) for our 100%-owned Mt Todd gold project (“Mt Todd” or the “Project”), which increased gold reserves by 19% to 6.98 million ounces with estimated average annual production of 479,000 ounces of gold during the first seven years of commercial operations and extended the mine life to 16 years. The completion of the 2022 FS represents a significant step in de-risking Mt Todd and readying the Project for development. We subsequently announced the appointment of CIBC Capital Markets (“CIBC”) as Vista’s strategic advisor to lead a formal process to assist in evaluating a broad range of alternatives to unlock the value of Mt Todd and arranging an accretive transaction. During the quarter we also successfully completed the exploration drilling program at Mt Todd, continued to monetize non-core assets, and maintained the strength of our balance sheet with quarter end cash of $12.8 million.

We believe the 2022 FS demonstrates the robust economics of the Project, which combined with the approval of all major permits for development distinguish Mt Todd as a unique, near-term development opportunity in a stable and mining friendly jurisdiction. I’m excited with the progress by CIBC to date and committed to achieving an outcome that provides appropriate opportunity for value creation by recognizing a greater portion of the intrinsic value of Mt Todd and minimizing the potential for future dilution.”

First Quarter Highlights and Recent Developments

Completed the Mt Todd Feasibility Study;
Appointed CIBC as Strategic Advisor;
Received the final $2.5 million Awak Mas royalty payment;
Completed the exploration drilling program at Mt Todd; and
Ended Q1 2022 with cash and cash equivalents of $12.8 million

Feasibility Study

Vista completed the 2022 FS for Mt Todd and announced the results on February 9, 2022 and filed the SK-1300 Technical Report Summary and NI 43-101 Technical Report on February 24, 2022.

A few highlights from the 2022 FS include:

After-tax NPV5% of $999.5 million and IRR of 20.6% at a $1,600 gold price;
After-tax NPV5% of $1.7 billion and IRR of 29.4% at a $1,900 gold price;

The following information was filed by Vista Gold Corp (VGZ) on Monday, May 2, 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:

  • Voting Procedures
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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

Ticker: VGZ
CIK: 783324
Form Type: 10-Q Quarterly Report
Accession Number: 0000783324-22-000031
Submitted to the SEC: Wed Jul 27 2022 4:01:48 PM EST
Accepted by the SEC: Wed Jul 27 2022
Period: Thursday, June 30, 2022
Industry: Gold And Silver Ores

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