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Vista Gold Corp. reports developments tied to the Mt Todd gold project, a development-stage gold deposit in the Northern Territory of Australia. Company updates commonly cover feasibility-study work, permitting and permit-modification activity, pre-development optimization, exploration and evaluation spending, and the buildout of Australia-based project capability.
News also includes financial results, common-share financing activity, treasury updates, exchange and capital-structure disclosures, and shareholder meeting outcomes such as director elections, auditor appointment, executive-compensation advisory votes, and stock option plan matters. The recurring focus is the advancement of Mt Todd within Vista Gold's project development plan.
Vista Gold Corp. (NYSE American and TSX: VGZ) has released its 2024 Environmental, Social and Governance (ESG) Report. The report provides transparency on the company's ESG performance throughout 2024 and outlines its future goals and key initiatives.
President and CEO Frederick H. Earnest emphasized the company's commitment to responsible and sustainable business practices, stating their focus on aligning operations with current and emerging ESG principles to achieve long-term success and positive impact.
Vista Gold Corp. (VGZ) reported strong financial results for 2024, with consolidated net income of $11.2 million ($0.09 per share), compared to a net loss of $6.6 million in 2023. The company ended the year with $16.9 million in cash, up from $6.1 million in 2023, maintaining zero debt.
The improved financial performance was driven by a $16.9 million gain from the Mt Todd royalty interest grant and a $0.8 million gain from mill equipment sale. The company received the remaining $17.0 million royalty proceeds in H1 2024.
Vista announced plans for a new Mt Todd feasibility study targeting 15,000 tonnes per day ore throughput. The study aims to reduce initial capital expenditure by 60% to approximately $400 million, increase reserve grade to 1 gram gold per tonne, and achieve annual gold production of 150,000 to 200,000 ounces.
Vista Gold (NYSE American and TSX: VGZ) has announced its participation in the Prospectors & Developers Association of Canada 2025 Convention, scheduled for March 2-5, 2025, at the Metro Toronto Convention Centre. The company will be stationed at Booth 2235 in the Investors Exchange Hall, positioned near the entrance.
During the convention, President and CEO Frederick H. Earnest will conduct meetings and interviews, while the management team will engage in one-on-one discussions with attendees. The focus will be on showcasing the company's strategic changes to position Mt Todd as a leading ready-to-build gold project and highlighting its value potential.
Vista Gold Corp. (NYSE American and TSX: VGZ) has announced its strategic outlook for 2025, focusing on completing the Mt Todd feasibility study. The company aims to demonstrate value through a lower-cost, 15,000 tonne per day development strategy. Key initiatives include:
The feasibility study targets increasing reserve grade to 1 gram gold per tonne, reducing initial capex by 60% to $400 million, and achieving annual gold production of 150,000-200,000 ounces. The company plans to utilize contract mining, third-party power generation, and established construction practices to maintain capital efficiency.
Vista reports 1,194 hours without lost time incidents at Mt Todd. A new mineral resource estimate is being developed, incorporating results from 2024 and 2020-2022 drilling programs, with completion expected mid-2025 alongside the feasibility study.
Vista Gold Corp. (NYSE American and TSX: VGZ) announced promising results from its 2024 Mt Todd drilling program, indicating potential increases in gold mineral reserves at the Batman deposit and successful delineation of the South Cross Lode (SXL) over a 400-meter strike length.
The company completed 34 diamond core holes totaling 6,776 meters, with all holes intercepting mineralization. Phase 1 drilling, combined with 2020-2022 results, extended mineralization boundaries in the Batman deposit's northern section, with many holes showing higher grades than the current block model. Phase 2 drilling defined the SXL mineralization, revealing wider high-grade veins exceeding one meter in thickness.
The results will be included in an updated Mt Todd mineral resources estimate and new feasibility study, scheduled for completion in mid-2025. Metallurgical testing is currently in progress for both phases.
Vista Gold Corp. (NYSE American and TSX: VGZ) has announced the final drill results from its 2024 drilling program at the Mt Todd gold project. The results show high-grade gold intercepts in the South Cross Lode (SXL), with notable findings including:
- VB24-032: 3.0 meters at 4.13 g Au/t, including 0.6 meters at 18.34 g Au/t
- VB24-033: 43.3 meters at 0.82 g Au/t, including 1.0 meters at 7.55 g Au/t
- VB24-034: 29.0 meters at 1.55 g Au/t, including 1.9 meters at 8.01 g Au/t
The drilling program demonstrated continuity of mineralization along strike at relatively shallow depths, with mineralization remaining open at depth and to the northeast. The company plans to use these results to update its resource model and reserve estimates for the ongoing Mt Todd feasibility study.
Vista Gold Corp. (NYSE American and TSX: VGZ) has reported its key achievements for 2024, focusing on advancing its Mt Todd gold development project. The company completed a drilling program of 34 holes totaling 6,776 meters, with Phase 2 drilling revealing high-grade gold intercepts in the South Cross Lode.
The company launched a new feasibility study in December 2024 targeting significant improvements including: increasing reserve grade to 1 gram gold per tonne, reducing initial capital expenditure by 60% to $400 million, and achieving annual gold production of 150,000-200,000 ounces from 15,000 tonnes per day ore throughput. The study is expected to complete by mid-2025.
Vista maintained strong safety performance with zero lost-time incidents and over 1,150 days without workplace incidents. The company's financial position was strengthened by a royalty transaction providing $20 million in funding. Additionally, new Northern Territory royalty legislation enacted in July 2024 is expected to reduce Mt Todd royalty payments by nearly 50%.
Vista Gold Corp. (NYSE American and TSX: VGZ) has announced the start of a new feasibility study for its Mt Todd gold project. The study targets increasing the reserve grade to 1 gram gold per tonne and reducing initial capital costs to $400 million.
The project aims to achieve annual gold production of 150,000 to 200,000 ounces from a 5.2 million tonnes per annum throughput. The new design features a 15,000 tonne per day throughput rate, representing a 60% reduction in initial capital costs compared to the previous large-scale feasibility study.
The company has engaged several consultants, including GR Engineering Services for process design and Mining Plus for mine planning. The study is expected to complete in mid-2025.
Vista Gold Corp. (NYSE American and TSX: VGZ) has renewed its At-The-Market Offering Agreement with H.C. Wainwright & Co., , maintaining a practice in place since 2017. The agreement allows Vista to sell up to US$8 million in common shares, though there's no obligation to do so. The company reported US$19 million in cash as of September 30, 2024, and plans to use the renewed ATM opportunistically, consistent with past practices, rather than marketing the full $8 million amount.
Vista Gold Corp. (VGZ) announced additional results from Phase 2 of its 2024 drilling program at the Mt Todd gold project in Northern Territory, Australia. The drilling program in the South Cross Lode zone revealed significant high-grade gold intercepts, with grades up to 6.82 g Au/t near surface. Notable results include multiple mineralized intervals, with VB24-025 returning 20.8 meters at 1.96 g Au/t. The company plans to update the Mt Todd mineral resource estimate and anticipates a feasibility study targeting daily throughput of 12,000-17,000 tonnes, aiming for 150,000-200,000 ounces of annual gold production with initial capex below $400 million.