Business
Vista Gold Corp. Announces 2024 Financial Results
Vista Gold Corp. (NYSE American and TSX: VGZ) (“Vista” or the “Companyȁ...
About this update from Vista Gold Corp
[{"type":"text","content":"Vista Gold Corp. Announces 2024 Financial Results\n\n\n .bwalignc { text-align: center; list-style-position: inside }\n \n\n\n\n Vista Gold Corp. (NYSE American and TSX: VGZ) (“Vista” or the “Company”) today announced its audited financial results for the year ended December 31, 2024, with cash totaling $16.9 million at year-end. All dollar amounts in this press release are in U.S. dollars.\n \n\n Frederick H. Earnest, President and CEO of Vista, stated, “Our achievements in 2024 underscore our commitment to creating greater value for our shareholders and positioning Vista and Mt Todd for long-term success. Receipt of the remaining proceeds under our 2023 royalty transaction enabled us to advance Mt Todd work programs and end the year with a strong balance sheet. We efficiently completed the 2024 drilling program and several other studies, leading to the decision to undertake a new Mt Todd feasibility study with an ore throughput rate of 15,000 tonnes per day.\n \n\n “This study aims to demonstrate a development alternative for Mt Todd which will place it among the most attractive ready-to-build opportunities within the gold sector. In planning this study, we focused on several factors that are consistently recognized as value drivers for new projects. Our goals are to reduce initial capex by 60% to approximately $400 million, increase the reserve grade to 1 gram gold per tonne by applying a higher cut-off grade, and achieve average annual gold production ranging from 150,000 to 200,000 ounces.\n \n\n “We are focused on advancing Mt Todd in ways that demonstrate the underlying value of the project and position it for near-term development, while maintaining the discipline necessary to best realize value at the right time.”\n \n\n\n Summary of Financial Results\n \n\n\n Vista reported consolidated net income of $11.2 million or $0.09 per common share for the year ended December 31, 2024, compared to a consolidated net loss of $6.6 million, or $0.05 per common share for the year ended December 31, 2023. The 2024 financial results benefited from a $16.9 million gain on grant of royalty interest in Mt Todd, a $0.8 million gain on sale of mill equipment, and continued focus on cost controls.\n \n\n Cash and cash equivalents totaled $16.9 million as of December 31, 2024, compared...