Business
Vista Gold Corp. Announces Consolidation of Senior Corporate Responsibilities
DENVER , Nov. 11, 2013 /CNW/ - Vista Gold Corp. (TSX & NYSE MKT: VGZ) ("Vista"...
About this update from Vista Gold Corp
[{"type":"text","content":"\n\n\n\nDENVER, Nov. 11, 2013 /CNW/ - Vista Gold Corp. (TSX & NYSE MKT: VGZ) (\"Vista\" or the \"Company\") today announced a consolidation of its senior corporate management and responsibilities as follows:\nExploration and new project evaluation will now be the direct responsibility of John W. Rozelle, Sr. Vice-President. \nCorporate development and project financing will now be the direct responsibility of John F. \"Jack\" Engele, Chief Financial Officer and Sr. Vice-President. \nAdvancement of the Mt. Todd gold project, including permitting, and optimization studies will be the responsibility of Brent Murdoch, General Manager and Director, Vista Gold Australia.\nThese changes follow the elimination of certain senior management positions in the Denver corporate office and at the Mt. Todd gold project in Australia.\nVista's President and CEO, Frederick H. Earnest commented, \"The recent consolidation of senior management responsibilities and broader reduction in force is designed to maintain our ability to preserve shareholder value by advancing the development of our core assets, preserving leverage to increases in the price of gold, and reducing present cash expenditures. In addition to the elimination of five positions in our Denver office, we have eliminated four positions in our Australian Mt. Todd project office. With these changes we believe we are better prepared to weather a protracted period of weakness in the gold equity sector while preserving our ability to optimize and carefully advance our core projects.\"\nAbout Vista Gold Corp.\nVista is a gold company currently conducting a strategic review of its portfolio of gold assets, and is focused on advancing its flagship Mt. Todd gold project in Northern Territory, Australia. Vista's portfolio of assets also includes a 24.9% holding in Midas Gold Corp., the Guadalupe de los Reyes gold/silver project in Mexico (a preliminary economic assessment was completed in March 2013), the Awak Mas gold project in Indonesia (One Asia Resources Ltd. working to earn an 80% interest), a royalty on the Amayapampa gold project in Bolivia (being advanced by LionGold Corp. Ltd.), and the Long Valley gold project in California. For more information about our projects, including technical studies and resource estimates, please visit our website at www.vistagold.com.\nForward Looking S...