Business
Vista Gold Corp. Announces First Quarter 2013 Results And Provides Update On Recent Activities
DENVER, May 7, 2013 /CNW/ - Vista Gold Corp. (TSX & NYSE MKT: VGZ) ("Vista" or the ...
About this update from Vista Gold Corp
[{"type":"text","content":"\n\n\n\n\n\nDENVER, May 7, 2013 /CNW/ - Vista Gold Corp. (TSX & NYSE MKT: VGZ) (\"Vista\" or the \"Company\") today announced its unaudited financial results and highlights for the first quarter ended March 31, 2013. Management's quarterly conference call to discuss these results is scheduled for 2:30pm MDT on May 8, 2013. 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 and the Canadian securities regulatory authorities.\nFirst Quarter 2013 Highlights:\nReleased a positive Preliminary Economic Assessment on the Guadalupe de los Reyes gold/silver project indicating an after-tax Net Present Value of $57.3 million using an 8% discount rate and gold and silver prices of $1,480 and $28 per ounce, respectively; \nCompleted an updated Mt. Todd gold project resource estimate containing 7.4 million ounces of estimated Measured and Indicated gold resources (279.6 million tonnes at 0.823 grams per tonne); \nReceived important water discharge permits at the Mt. Todd gold project following positive results from the water treatment program; \nReceived Major Project Status from the Northern Territory Government, prospectively providing the Mt. Todd gold project an important high-level government platform to reach decisions regarding matters of importance to the project in an efficient and timely matter; \nSubmitted the Draft Environmental Impact Statement (\"EIS\") to the Northern Territory government for preliminary review; and \nCompleted a non-dilutive Canadian $10 million bridge loan facility that enables Vista to continue its advancement of the Mt. Todd gold project while allowing time for the Invecture Group to earn-in on the Los Cardones gold project in Baja California Sur, Mexico ($20 million) and for A.M. King Industries to sell our Colomac mill equipment.\nFrederick H. Earnest, President and Chief Executive Officer, commented, \"Vista made excellent progress on a number of fronts during the first quarter of the year. The successful conclusion of our 2012 drill program resulted in an updated resource estimate that makes the Mt. Todd gold project the largest gold development project in Australia. We have been working very hard with our technical cons...