Business
Vista Gold Corp. Announces First Quarter Financial Results and Corporate Update
DENVER, April 30, 2021 (GLOBE NEWSWIRE) -- Vista Gold Corp. (NYSE American and TSX: VGZ) (“Vista” or the “Company”) today announced its unaudited financial resu
About this update from Vista Gold Corp
[{"type":"text","content":" DENVER, April 30, 2021 (GLOBE NEWSWIRE) -- Vista Gold Corp. (NYSE American and TSX: VGZ) (“Vista” or the “Company”) today announced its unaudited financial results for the quarter ended March 31, 2021, which are highlighted by reported cash and cash equivalents of $7.2 million. All dollar amounts in this press release are in U.S. dollars. Frederick H. Earnest, President and Chief Executive Officer of Vista, commented, “Our management team achieved solid cost and capital management performance and strong execution toward our core objectives, including the advancement of the Mt Todd Mining Management Plan to the final stage of review and approval and excellent results from our ongoing drilling program. Additionally, we continued efforts to seek a strategic partner for the development of Mt Todd, maintained our outstanding safety record having achieved 1,437 days without a lost time incident, substantially dewatered the Batman pit, and held the first meeting of the newly-formed Leaders Forum with the Jawoyn Association Aboriginal Corporation. “We anticipate approval of the Mining Management Plan in the very near future, and see a tremendous opportunity over the next 12 months to close the gap between our market cap and the intrinsic value of Mt Todd by continuing our drilling program to demonstrate the potential to significantly expand gold resources and by advancing our feasibility studies. Both activities are aligned with our continuing efforts to bring value to our shareholders and establish a strategic partnership. We remain committed to achieving a structure that provides appropriate opportunity for value creation by recognizing the intrinsic value of Mt Todd and minimizes the potential for future dilution.” First Quarter Highlights and Recent Developments Advanced the Mt Todd Mining Management Plan to the final stage of review and approval; Ended 1Q 2021 with cash and cash equivalents of $7.2 million; Received a $1.1 million payment from Prime Mining Corp. related to the Guadalupe de los Reyes gold / silver project in Mexico and expect a final $1.0 million payment no later than July 2021; Reported positive results from ongoing exploration activities; Expanded the current drill program to include an additional 10 holes to focus on deep drilling along the 1.8 km strike area from the Batman deposit north to the Golf–Tollis/Peng...