Vista Gold Corp. (“Vista” or the “Company”) (NYSE American and
TSX: VGZ) provided an update on the definitive feasibility study
(“DFS”) for its 100% owned Mt Todd gold project (“Mt Todd” or the
“Project”) in Northern Territory, Australia and other key
programs.
Frederick H. Earnest, President and CEO of Vista, commented, “We
are approaching the achievement of a very important milestone in
increasing shareholder value. The Mt Todd DFS is nearly complete
and we expect to announce the results early next year. We believe
the DFS results, reflective of more detailed engineering and the
higher level of precision in cost estimating required for this
study, will generate significant interest in the Project from
investors and potential partners. In addition to a new mine plan
using a higher gold price, which we expect to result in an increase
in reserves and a longer mine life, we are completing trade-off
studies that have the potential to lower related capital costs. We
continue to execute on our strategy to seek a partner and believe
the DFS will provide the catalyst for accelerating the process. Our
exploration drilling program is ongoing and expected to continue
through the first quarter of 2022. As part of the Company’s normal
course of business, we recently filed a Registration Statement on
Form S-3 to maintain maximum financial flexibility as we advance
toward our goal of a joint venture to develop Mt Todd.”
Definitive Feasibility Study
The DFS is on schedule and on budget, with completion expected
in early 2022. As previously reported, Vista is:
- completing the remaining feasibility-level engineering in the
process plant (piping, electrical, and instrumentation);
- updating Project designs to be consistent with the approved
Mine Management Plan;
- revising the mine plan using a higher gold price, which is
expected to reflect increased gold reserves, improve the production
profile, and extend the life of the mine;
- completing the Project economic evaluation using a gold price
and cost inputs more reflective of current market conditions;
- undertaking trade-off studies to evaluate opportunities to
reduce related capital costs by using a third-party power
generating facility and contract mining; and
- evaluating autonomous truck haulage as part of the operating
cost optimization work.
Development Strategy
The DFS is a major milestone which is expected to raise the
profile of and expedite our ongoing partnering process, leading to
a joint venture or other transaction that will recognize the
intrinsic value of Mt Todd for Vista shareholders.
Vista has completed extensive technical work at Mt Todd and has
the approval of all major permits required to undertake project
development. The completion of the DFS is expected to provide a
solid foundation and catalyst to move forward expeditiously with
prospective partners to establish a mutually beneficial pathway for
development of the Project.
Exploration Drilling Program
The Company’s exploration program is expected to continue
through the first quarter of 2022. Vista is continuing its approach
to demonstrate district-scale mineralization and structural
continuity between the Batman and Quigleys deposits, where future
in-fill drilling may be undertaken to define additional gold
resources.
Shelf Registration Statement
On November 19, 2021, the Company filed a $100 million Shelf
Registration Statement on Form S-3 (“Shelf Registration Statement”)
with the U.S. Securities and Exchange Commission (“SEC”) (SEC File
No. 333-239139). The Company has no present plans to use the Shelf
Registration, nor is it under any obligation to do so, and has
filed the Shelf Registration Statement in the normal course of
business.
Management believes the Company’s current liquidity is
sufficient to fund the Company’s value enhancing programs, continue
to fund working capital, and strengthen its position in discussions
with potential partners.
About Vista Gold Corp.
Vista is a gold project developer. The Company’s flagship asset
is the Mt Todd gold project located in the Tier 1, mining friendly
jurisdiction of Northern Territory, Australia. Situated
approximately 250 km southeast of Darwin, Mt Todd is the largest
undeveloped gold project in Australia and, if developed as
presently designed, would potentially be Australia’s fourth largest
gold producer on an annual basis, with lowest tertile in-country
and global all-in sustaining costs. All major operating and
environmental permits have now been approved.
For further information, please contact Pamela Solly, Vice
President of Investor Relations, at (720) 981-1185.
Forward Looking Statements
This press release contains forward-looking statements within
the meaning of the U.S. Securities Act of 1933, as amended, and
U.S. Securities Exchange Act of 1934, as amended, and
forward-looking information within the meaning of Canadian
securities laws. All statements, other than statements of
historical facts, included in this press release that address
activities, events or developments that Vista expects or
anticipates will or may occur in the future, including such things
as, the Company’s belief that the completion of the definitive
feasibility study (“DFS”) is a very important step toward
increasing shareholder value; the DFS is nearly complete; the DFS
results will be announced early next year; the DFS results,
reflective of more detailed engineering and the higher level of
precision in cost estimating required for the study, will generate
significant interest in the Project from investors and potential
partners; a new mine plan using a higher gold price is expected to
result in an increase in reserves and a longer mine life; trade-off
studies have potential to lower related initial capital costs of
the Project; the completion of the DFS will provide a catalyst for
accelerating the process to seek a strategic partner; the drilling
program is expected to continue through the first quarter of 2022;
the recently filed Registration Statement on Form S-3 will provide
the Company with maximum flexibility as we advance toward our goal
of a joint venture to develop Mt Todd; the DFS is on schedule and
on budget, with completion expected early 2022; completion of the
DFS is a major milestone expected to raise the profile and expedite
our ongoing partnering process leading to a joint venture or other
transaction that will recognize the intrinsic value of Mt Todd for
Vista shareholders; Vista’s extensive technical work at Mt Todd,
the approval of all major permits, and the completion of a
definitive feasibility study are expected to provide a solid
foundation and catalyst to move forward expeditiously with
prospective partners to establish a mutually beneficial pathway for
the development of the Project; there are no present plans to use
the Shelf Registration; and the Company’s liquidity is sufficient
to fund the Company’s value enhancing programs, continue to fund
working capital, and strengthen its position with potential
partners and other such matters are forward-looking statements and
forward-looking information. The material factors and assumptions
used to develop the forward-looking statements and forward-looking
information contained in this press release include the following:
the accuracy of the results of the PFS, mineral resource and
reserve estimates, and exploration and assay results; the terms and
conditions of our agreements with contractors and our approved
business plan; the anticipated timing and completion of a
feasibility study on the Project; the anticipated receipt of
required permits; no change in laws that materially impact mining
development or operations of a mining business; the potential
occurrence and timing of a production decision; the anticipated
gold production at the Project; the life of any mine at the
Project; all economic projections relating to the Project,
including estimated cash cost, NPV, IRR, and initial capital
requirements; and Vista’s goal of becoming a gold producer. When
used in this press release, the words “optimistic,” “potential,”
“indicate,” “expect,” “intend,” “plans,” “hopes,” “believe,” “may,”
“will,” “if,” “anticipate,” and similar expressions are intended to
identify forward-looking statements and forward-looking
information. These statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of Vista to be materially different
from any future results, performance or achievements expressed or
implied by such statements. Such factors include, among others,
uncertainty of mineral resource estimates, estimates of results
based on such mineral resource estimates; risks relating to cost
increases for capital and operating costs; risks related to the
timing and the ability to obtain the necessary permits, risks of
shortages and fluctuating costs of equipment or supplies; risks
relating to fluctuations in the price of gold; the inherently
hazardous nature of mining-related activities; potential effects on
Vista’s operations of environmental regulations in the countries in
which it operates; risks due to legal proceedings; risks relating
to political and economic instability in certain countries in which
it operates; as well as those factors discussed under the headings
“Note Regarding Forward-Looking Statements” and “Risk Factors” in
Vista’s Annual Report Form 10-K as filed February 25, 2021 and
other documents filed with the U.S. Securities and Exchange
Commission and Canadian securities regulatory authorities. Although
Vista has attempted to identify important factors that could cause
actual results to differ materially from those described in
forward-looking statements and forward-looking information, there
may be other factors that cause results not to be as anticipated,
estimated or intended. Except as required by law, Vista assumes no
obligation to publicly update any forward-looking statements or
forward-looking information; whether as a result of new
information, future events or otherwise.
Cautionary Note to United States Investors
The United States Securities and Exchange Commission (“SEC”)
limits disclosure for U.S. reporting purposes to mineral deposits
that a company can economically and legally extract or produce.
This press release and the technical reports referenced in this
press release use the terms defined in Canadian National Instrument
43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”)
and the Canadian Institute of Mining, Metallurgy and Petroleum (the
“CIM”) – CIM Definition Standards on Mineral Resources and Mineral
Reserves, adopted by the CIM Council, as amended (the “CIM
Definition Standards”). These standards are not the same as
reserves under the SEC’s Industry Guide 7 and may not constitute
reserves or resources under the SEC’s newly adopted disclosure
rules to modernize mineral property disclosure requirements (“SEC
Modernization Rules”), which became effective February 25, 2019 and
will be applicable to the Company in its annual report for the
fiscal year ending December 31, 2021. Under the currently
applicable SEC Industry Guide 7 standards, a “final” or “bankable”
feasibility study is required to report reserves, the three-year
historical average price is used in any reserve or cash flow
analysis to designate reserves and all necessary permits and
government approvals must be filed with the appropriate
governmental authority. Additionally, the technical reports uses
the terms “measured resources”, “indicated resources”, and
“measured & indicated resources”. We advise U.S. investors that
while these terms are Canadian mining terms as defined in
accordance with NI 43-101, such terms are not recognized under SEC
Industry Guide 7 and normally are not permitted to be used in
reports and registration statements filed with the SEC. Mineral
resources described in the technical reports have a great amount of
uncertainty as to their economic and legal feasibility. The SEC
normally only permits issuers to report mineralization that does
not constitute SEC Industry Guide 7 compliant “reserves” as
in-place tonnage and grade, without reference to unit measures.
“Inferred resources” have a great amount of uncertainty as to their
existence, and great uncertainty as to their economic and legal
feasibility. It cannot be assumed that any or all part of an
inferred resource will ever be upgraded to a higher category.
U.S. Investors are cautioned not to assume that any part or all
of mineral deposits in these categories will ever be converted into
SEC Industry Guide 7 reserves.
Under the SEC Modernization Rules, the definitions of “proven
mineral reserves” and “probable mineral reserves” have been amended
to be substantially similar to the corresponding CIM Definition
Standards and the SEC has added definitions to recognize “measured
mineral resources”, “indicated mineral resources” and “inferred
mineral resources” which are also substantially similar to the
corresponding CIM Definition Standard. However there are
differences between the definitions and standards under the SEC
Modernization Rules and those under the CIM Definition Standards
and therefore once the Company begins reporting under the SEC
Modernization Rules there is no assurance that the Company’s
mineral reserve and mineral estimates will be the same as those
reported under CIM Definition Standards as contained in the
technical reports prepared under CIM Definition Standards or that
the economics for the Mt Todd project estimated in such technical
reports will be the same as those estimated in any technical report
prepared by the Company under the SEC Modernization Rules in the
future.
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version on businesswire.com: https://www.businesswire.com/news/home/20211130005259/en/
Pamela Solly, Vice President of Investor Relations (720)
981-1185
Vista Gold (TSX:VGZ)
過去 株価チャート
から 11 2024 まで 12 2024
Vista Gold (TSX:VGZ)
過去 株価チャート
から 12 2023 まで 12 2024
