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Vista Gold Announces Updated Feasibility Study for Mt Todd Gold Project
DENVER / Mar 13, 2024 / Business Wire / Vista Gold Corp. (NYSE American and TSX: VGZ) (“Vista” or the “Company”) announces the results of the feasibility study
About this update from Vista Gold Corp
[{"type":"text","content":"DENVER / Mar 13, 2024 / Business Wire / Vista Gold Corp. (NYSE American and TSX: VGZ) (“Vista” or the “Company”) announces the results of the feasibility study update for its Mt Todd gold project (“Mt Todd” or the “Project”) located in Northern Territory, Australia which was undertaken in conjunction with the Company’s annual reporting of its mineral resources and mineral reserves in its Annual Report on Form 10-K, as required under Item 1300 of Regulation S-K under the Securities and Exchange Act of 1934, as amended (“S-K 1300”). The updated feasibility study reflects changes in project economics since the feasibility study filed in February 2022. Material capital and operating cost components have been updated with quotes obtained in Q1 2024. The updated study also reflects the current outlook for the long-term gold price and foreign exchanges rates, and the recently announced royalty. Mt Todd mineral resources and mineral reserves, mine plans, gold recoveries, and gold production schedules remain unchanged. Highlights of the Mt Todd 2024 Updated FS appear below, with changes from the 2022 feasibility study shown in parenthesis ( ): After-tax NPV5% of $1.13 billion (+$131.5 million) and IRR of 20.4% (-0.2%) at a $1,800 gold price and a $0.69 Fx rate(1)(2); Average cash costs of $913 (+$96) per ounce (life of mine)(3); Average all-in sustaining cost (“AISC”) of $1,034 (+$104) per ounce (life of mine)(3); and Initial capital requirements of $1.03 billion (+$138 million), which continues to reflect the use of a third-party owner/operator of the power plant. (1) 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. (2) The 2022 feasibility study economics were reported at a gold price of US$1,600 and Fx rate of 0.71. (3) Cash costs per ounce and AISC per ounce are non-GAAP financial measures. See “Note Regarding Non-GAAP Financial Measures” below for a discussion on non-GAAP financial measures and a reconciliation to U.S. GAAP measures. Using a gold price of $2,100 and a $0.66 Fx rate, which the Company believes are more reflective of current market conditions, the after-tax NPV5% of the Project is $1.88 billion and the IRR is 29.6%. Frederick H. Earnest, President and CEO of Vista G...