Business
Vista Gold Corp. Announces First Quarter 2012 Financial Results and Provides Update on Recent Activities
DENVER, May 8, 2012 /CNW/ - Vista Gold Corp. ("Vista," the "Company," "we" or "our") (NYS...
About this update from Vista Gold Corp
[{"type":"text","content":"\n\n\n\n\n\nDENVER, May 8, 2012 /CNW/ - Vista Gold Corp. (\"Vista,\" the \"Company,\" \"we\" or \"our\") (NYSE Amex and TSX: VGZ) today announced its financial results for the first quarter ended March 31, 2012; highlights for the three-month period then ended; and that a management quarterly conference call is scheduled for 10:00 a.m. MDT on Monday, May 14, 2012. The Company's full financial results, Management's Discussion and Analysis together with other important disclosures can be found in the Company's Quarterly Report on Form 10-Q, filed with the U.S. Securities and Exchange Commission (the \"SEC\") and the Canadian securities regulatory authorities on May 8, 2012. \n\nRecent Highlights:\n\nVista remains debt free after repaying its $23-million convertible notes in March 2011 and has $14.8 million in cash at March 31, 2012. \nIn March 2012, the Company received $1.5 million from Awak Mas Holdings Pty. Ltd. (\"Awak Mas\") under the additional option agreement, resulting in a gain of $934,000 on the Awak Mas gold project. \nIn March 2012, the Company received $733,000 from the exercise of certain compensation options, and in April 2012, the Company received $1.1 million from the exercise of certain compensation warrants. \nOn April 19, 2012, the Company announced that it filed a final short form base shelf prospectus with the securities commissions in each province and territory of Canada (other than Quebec) and that its shelf registration statement on Form S-3 filed with the SEC was brought effective (collectively, the \"Offering Documents\"). The Offering Documents were filed to replace Vista's prior Canadian short form base shelf prospectus that expired last year and Vista's current shelf registration statement on Form S-3 that expired on May 1, 2012 and allow Vista to make offerings of common shares, warrants, subscription receipts or units for aggregate proceeds of up to US$200 million during specified periods of time. \nUnder the provisions of the earn-in right agreement (the \"Earn-in Right Agreement\") between Vista and Invecture Group S.A. de C.V. (\"Invecture\"), the Company agreed that if certain specified events (the \"adjustment triggering events\") did not occur by specified dates ending on April 30, 2012, the interest that Invecture could earn-in to the Concordia gold project would increase. Because the adjus...