Vista Gold Corp. Announces Q2 2017 Results

DENVER, Aug. 7, 2017 /CNW/ -- Vista Gold Corp. (the "Company," "we" or "our") (NYSE American: VGZ) (TSX: VGZ) today announced its unaudited financial results for the second quarter ended June 30, 2017. Management's quarterly conference call to discuss these results is scheduled for 2:30 p.m. MDT on August 9, 2017.  The Company's unaudited financial statements, Management's Discussion and Analysis together with other important disclosures can be found in the Company's Quarterly Report on Form 10-Q, filed on August 4, 2017 with the U.S. Securities and Exchange Commission and the Canadian securities regulatory authorities.

Summary of Second Quarter 2017 Financial Results

We reported a net loss of $2.7 million or $0.03 per share for the three months ended June 30, 2017. This includes $2.2 million of net operating expenses and an unrealized $0.5 million mark-to-market loss on our investment in Midas Gold Corp. ("Midas"). During the three months ended June 30, 2016, we reported net income of $1.6 million or $0.02 per share inclusive of $1.7 million of net operating expenses and an unrealized $3.3 million mark-to-market gain on our investment in Midas.

Our working capital at June 30, 2017 totaled approximately $23.6 million, including cash and short-term investments (comprised of government securities) of approximately $20.2 million. The Company has no debt. 

Corporate Highlights

We continue to undertake activities to improve value and further de-risk our Mt Todd gold project, including:

• Bulk Metallurgical Testing – we recently completed crushing, screening and automated sorting tests on four 5-tonne bulk samples from the Batman deposit. These bulk tests demonstrated that automated sorting technology can be used to efficiently separate plus 5/8" (16 mm) product from the HPGR crusher with gold-bearing sulfide/quartz/calcite minerals from the host rock, at production rates in production scale equipment.
• Grinding and Leaching Optimization Studies – we are undertaking additional metallurgical testing to confirm gold recoveries with a proposed 2-stage grinding circuit and a finer grind size (P80 of 65 um vs the 90 um in the original PFS).
• PFS Update – we have commenced an update of the Mt Todd Preliminary Feasibility Study ("PFS") in which we intend to include all appropriate project improvements and the most current economic factors.
• MMP Update – we are nearing the completion of the preparation of a draft Mine Management Plan ("MMP") and expect to present this plan for preliminary agency review later this year. This is expected to reduce the approval time for the final MMP.

To review the Company's Quarterly Report on Form 10-Q for the three months ended June 30, 2017, including the related Management's Discussion and Analysis, visit any of the following websites: www.sedar.com, www.sec.gov or www.vistagold.com.

Management Conference Call

A conference call with management to review our financial results for the three months ended June 30, 2017 and to discuss corporate and project activities is scheduled for Wednesday, August 9, 2017 at 2:30 p.m. MDT.

Toll-free in North America: 1-800-533-7619
International:  785-830-1923

This call will also be web-cast and can be accessed at the following web location:

Click Here

This call will be archived and available at www.vistagold.com after August 9, 2017.  Audio replay will be available for 21 days by calling toll-free in North America: 1-888-203-1112, passcode 4965655.

If you are unable to access the audio or phone-in on the day of the conference call, please email questions to Connie Martinez, Manager – Investor Relations (email: connie@vistagold.com), and we will try to address these questions prior to or during the conference call.

All dollar amounts in the press release are U.S. dollars.

About Vista Gold Corp.

The Company is a well-funded gold project developer. Our principal asset is our flagship Mt Todd gold project in Northern Territory, Australia.  Mt Todd is one of the largest undeveloped gold projects in Australia. For more information about our projects, including technical studies and resource estimates, please visit our website at www.vistagold.com.