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Vista Gold Corp. Announces Status of Permit for Paredones Amarillos Project
DENVER, April 30 /CNW/ -- Vista Gold Corp. ("Vista") (Amex: VGZ; TSX) announced that it has recei...
About this update from Vista Gold Corp
[{"type":"text","content":"\n\n\n\nDENVER, April 30 /CNW/ -- Vista Gold Corp. ("Vista") (Amex: VGZ; TSX)\nannounced that it has received correspondence from the local La Paz office of\nthe Mexican Environmental and Natural Resource Service (SEMARNAT) which\nindicates that staff in that office are of the opinion that the Change of Land\nUse Permit approved by SEMARNAT in 1997 in relation to the Paredones Amarillos\nProject is no longer valid. This permit is necessary for the development of\nthe Paredones Amarillos Project to proceed. Vista has been advised by its\nadvisors that the permit remains valid and is investigating the basis for the\nstaff's position, and intends to take immediate steps to confirm the validity\nof the permit and if necessary, to address any issues identified by SEMARNAT.\nVista's management believes that any related issues will be resolved without\nany significant delay to the expected timing for completion of the definitive\n(bankable) feasibility study or the proposed timetable for development of the\nParedones Amarillos Project but will provide further information as soon as it\nis in a position to do so.\n\n\nAbout Vista Gold Corp.\n\n\nSince 2001, Vista has acquired a number of gold projects with the\nexpectation that higher gold prices would significantly increase their value.\nVista is undertaking programs to advance the Paredones Amarillos Project,\nincluding the preparation of a definitive feasibility study and the purchase\nof long delivery equipment items, so that construction can begin during the\nlast quarter of 2008. The results of a preliminary assessment completed in\n2007 on the Mt. Todd Project in Australia were encouraging and additional\ntechnical studies are underway with a definitive feasibility study planned for\ncompletion by mid-2009. Vista's other holdings include the Guadalupe de los\nReyes Project in Mexico, Yellow Pine Project in Idaho, Awak Mas Project in\nIndonesia, and the Long Valley Project in California.\n\n\nThis press release contains forward-looking statements within the meaning\nof the U.S. Securities Act of 1933 and U.S. Securities Exchange Act of 1934\nand forward-looking information within the meaning of applicable Canadian\nsecurities laws. All statements, other than statements of historical facts,\nincluded in this press release that address activities, events or developments\nt...