Business
Vista Gold Corp. Announces Second Quarter Financial Results and Conference Call with Management
Vista Gold Corp. Announces Second Quarter Financial Results and Conference Call with Management
About this update from Vista Gold Corp
[{"type":"text","content":"\n\n\n\n Aug. 9, 2010 (Canada NewsWire Group) -- \n\n \n \n \nTR.cnwUnderlinedCell TD {\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD {\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD {\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell {\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell {\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell {\n BORDER-BOTTOM: #000000 3px solid\n}\n\n\n >\n\nDENVER, Aug. 9 /CNW/ -- Vista Gold Corp. (TSX & NYSE Amex: VGZ) ("Vista" or the "Corporation") announced today its financial results for the quarter and six months ended June 30, 2010, as filed on August 6, 2010, with the United States Securities and Exchange Commission (the "SEC") and the relevant securities regulatory authorities in Canada in the Corporation's Quarterly Report on Form 10-Q, and announces a management quarterly conference call scheduled for Thursday, August 12, 2010, at 1:00 P.M. MDT.\n\n >\n\nAll dollar amounts in this press release are in United States dollars, unless otherwise noted.\n\nOur consolidated net loss for the three-month period ended June 30, 2010, was $4.2 million or $0.09 per share compared to consolidated net earnings of $3.9 million or $0.11 per share for the same period in 2009. Our consolidated net loss for the six-month period ended June 30, 2010, was $5.9 million or $0.13 per share compared to consolidated net earnings of $2.0 million or $0.06 per share for the same period in 2009. For both the three- and six-month periods, the increases in the consolidated net losses of $8.0 million and $7.9 million from the respective prior periods are primarily due to decreases in the gain on disposal of marketable securities of $6.8 million and $6.6 million from the respective prior periods. The gain during the 2009 periods was the result of the sale of our Allied Nevada Gold Corp. ("Allied") shares which we retained in connection with the transaction that resulted in the formation of Allied and the transfer of Vista's Nevada properties to Allied. Also contributing to the increase in net losses for both the three- and six-month periods was an increase in the loss on early extinguishment of our senior secured convertible notes (the "Notes") of $2.0 million for both the three- and six-mont...