Business
Vista Gold Announces Extension of Deadline for Completion of Arrangement Indonesia
Vista Gold Announces Extension of Deadline for Completion of Arrangement Indonesia.
About this update from Vista Gold Corp
[{"type":"text","content":"\n\n\n\nDENVER, Feb. 27 /CNW/ -- Vista Gold Corp. (Amex: VGZ; Toronto) ("Vista")\nannounced today that the deadline for completion of the previously announced\narrangement involving Vista, Allied Nevada Gold Corp. ("Allied Nevada") and\nCarl and Janet Pescio has been extended to April 30, 2007. The arrangement,\nif completed, will result in Vista transferring its existing Nevada properties\nto Allied Nevada, which will concurrently acquire the Nevada mineral assets of\nCarl and Janet Pescio. The closing of the transaction is subject to the\nsatisfaction or waiver of a number of conditions customary in a transaction of\nthis nature. Among the conditions is the registration of Allied Nevada's\ncommon stock under the U.S. Securities Exchange Act of 1934. To this end,\nAllied Nevada filed a registration statement on Form 10 with the U.S.\nSecurities and Exchange Commission, has amended the registration statement in\nresponse to the Commission's comment and is currently awaiting the\nCommission's response. The registration will not be complete until the\ncomment process has concluded, which Vista currently anticipates will occur\nduring the first quarter of 2007, with the transaction expected to close\nshortly thereafter.\n\n\nIn other news, Vista has retained Gustavson Associates LLC ("Gustavson")\nof Boulder, Colorado, to prepare an updated resource estimate on the Vista's\nAwak Mas deposit on South Sulawesi Island in Indonesia in accordance with\nCanadian National Instrument 43-101 standards. The new resource estimate will\nincorporate the results of the drilling program completed by Vista at the\nproject late last year, which consisted of 13 core holes totaling 8,440 feet\nof drilling. Vista intends to complete a feasibility study on the project\nduring 2007.\n\n\nAbout Vista Gold Corp.\n\n\nVista Gold Corp., based in Littleton, Colorado, evaluates and acquires\ngold projects with defined gold resources. Additional exploration and\ntechnical studies are undertaken to maximize the value of the projects for\neventual development. The Company's holdings include the Maverick Springs,\nMountain View, Hasbrouck, Three Hills, Wildcat projects, the F.W. Lewis, Inc.\nproperties and the Hycroft mine, all in Nevada, the Long Valley project in\nCalifornia, the Yellow Pine project in Idaho, the Paredones Amarillo...