Vista Gold Corp. Announces Mt. Todd Gold Project Preliminary Feasibility Study And Increase In Reserves Of 44% To 5.9 Million Ounces Of Gold

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[{"type":"text","content":"\n\n\nDENVER, May 29, 2013 /CNW/ - Vista Gold Corp. (\"Vista\" or the \"Company\")\n (NYSE MKT and TSX: VGZ) today announced the positive results of a new\n preliminary feasibility study (the \"PFS\") for its Mt. Todd gold project\n (the \"Project\") in Northern Territory, Australia. The PFS evaluates two\n development scenarios including a 50,000 tonne per day (\"tpd\") project\n that develops more of the Mt. Todd resource (the \"Base Case\") and\n generates a larger Net Present Value (\"NPV\") and a smaller and\n higher-grade 33,000 tpd project that focuses on maximizing return and\n operating margins (the \"Alternate Case\"). The PFS was authored by Tetra\n Tech Inc. with Mine Development Associates, Resource Development Inc.,\n Proteus EPCM Engineers (a Tetra Tech Company), and Power Engineers,\n Inc.\n\n\nA conference call and webcast to discuss highlights of the preliminary feasibility study will be held\n this afternoon at 4:30pm ET (2:30pm MT). Call-in details are located at the end of this release.\n\n\nHighlights of the 50,000 tpd Base Case include:\n\n\nEstimated proven and probable reserves of 5.90 million ounces of gold\n (223 million tonnes at 0.82 g Au/t) at a cut-off grade of 0.40 g Au/t,\n an increase of 44% from the Company's January 2011 PFS;\n\n\nAverage annual production of 369,850 ounces of gold per year over the\n mine life, including average annual production of 481,316 ounces of\n gold per year during the first five years of operations;\n\n\nLife of mine average cash costs of $773 per ounce, including average\n cash costs of $662 per ounce during the first five years of operations;\n\n\nA 13 year operating life;\n\n\nAfter-tax NPV5% of $591.3 million and IRR of 15.9% at $1,450 per ounce gold prices,\n increasing to $876.6 million and 21.1%, respectively, at $1,600 per\n ounce gold prices; and\n\n\nInitial capital requirements of $1,046 million.\n\n\nHighlights of the 33,000 tpd alternate case include:\n\n\nEstimated proven and probable reserves of 3.56 million ounces of gold\n (124 million tonnes at 0.90 g Au/t) at a cut-off grade of 0.45 g Au/t;\n\n\nAverage annual production of 262,826 ounces of gold per year over the\n mine life, including average annual production of 294,502 ounces of\n gold per year during the first five years of operations;\n\n\nLife of mine average cash costs of $684 per ounce, in...

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