Business
Vista Gold Corp. Announces Second Quarter 2012 Financial Results and Provides Update on Recent Activities
DENVER, Aug. 7, 2012 /CNW/ - Vista Gold Corp. (the "Company," "we" or "our") (NYSE MKT an...
About this update from Vista Gold Corp
[{"type":"text","content":"\n\n\n\n\n\nDENVER, Aug. 7, 2012 /CNW/ - Vista Gold Corp. (the \"Company,\" \"we\" or \"our\") (NYSE MKT and TSX: VGZ) today announced its financial results and highlights for the second quarter ended June 30, 2012. Management's quarterly conference call to discuss these results is scheduled for 9:00 a.m. MDT on August 10, 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. \nSecond Quarter 2012 Highlights:\nReleased further positive results from the Mt. Todd gold project's resource conversion drilling program; \nBased on the favorable drilling program results, announced our decision to revise the scope of the Mt. Todd gold project feasibility study to incorporate an increased throughput rate of the processing facility; \nAnnounced encouraging metallurgical test results from the Mt. Todd gold project's heap leach pad, which results support our goal of recovering gold from the heap leach pad while constructing the larger Mt. Todd gold project; \nReleased further high-grade assay results from the drilling program at the Guadalupe de los Reyes gold/silver project in Mexico that are anticipated to be incorporated into a preliminary economic assessment later this year; \nContinued to add key personnel to our team, including John (Jack) F. Engele as Sr. Vice President and Chief Financial Officer and Seth L. Foreman as Vice President Corporate Development; and \nClosed a non-brokered private placement with net proceeds of $14.5 million subsequent to quarter end. \nFred Earnest, the Company's President and Chief Executive Officer, commented, \"We are continuing to execute our business goals for the year and I am looking forward to a number of key milestones through the rest of 2012. I am pleased that, even in these difficult markets, we were able to raise capital on good terms, and am appreciative of the long-term shareholder support that made it possible. The remainder of 2012 will be exciting for the Company as we progress toward completing an updated mineral resource estimate at the Mt. Todd gold project and a preliminary economic assessment on the Guadalupe de los Reyes gold/silver pr...