Business
Vista Gold Corp. Announces The Closing Of The Sale Of The Los Cardones Project
DENVER , Oct. 18, 2013 /CNW/ - Vista Gold Corp. ("Vista" or the "Company") (NYSE MKT ...
About this update from Vista Gold Corp
[{"type":"text","content":"\n\n\n\nDENVER, Oct. 18, 2013 /CNW/ - Vista Gold Corp. (\"Vista\" or the \"Company\") (NYSE MKT and TSX: VGZ) announced the closing of its previously announced sale of the Los Cardones gold project in Baja California Sur, Mexico, to the Invecture Group (\"Invecture\") and RPG Structured Finance S.a r.l. (together with Invecture (the \"Purchasers\")) for US$13 million.\nAs previously announced, Vista agreed to sell 100% of its debt and equity participation in the Los Cardones gold project to the Purchasers for US$13 million (US$7 million of which was paid today and US$6 million of which is due by January 30, 2014). The Purchasers have the option to elect, in their discretion, not to make the second payment of US$6 million, in which case, Vista will retain the US$7 million received today and the project will be returned to Vista.\nAbout Vista Gold Corp.\nVista is a gold company currently conducting a strategic review of its portfolio of gold assets, and is focused on advancing its flagship Mt. Todd gold project in Northern Territory, Australia. Vista's portfolio of assets also includes a 24.9 % holding in Midas Gold Corp., the Guadalupe de los Reyes gold/silver project in Mexico (a preliminary economic assessment was completed in March 2013), the Awak Mas gold project in Indonesia (One Asia Resources Ltd. working to earn an 80% interest), the Long Valley gold project in California and a royalty on the Amayapampa gold project in Bolivia (being advanced by LionGold Corp Ltd.). For more information about our projects, including technical studies and resource estimates, please visit our website at www.vistagold.com.\nForward Looking Statements This press release contains forward-looking statements within the meaning of the U.S. Securities Act of 1933, as amended, and U.S. Securities Exchange Act of 1934, as amended, and forward-looking information within the meaning of Canadian securities laws. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that Vista expects or anticipates will or may occur in the future, including such things as, receiving the US$6 million payment from the Purchasers, and other such matters are forward-looking statements and forward-looking information. The material factors and assumptions used to develop the forward-looking s...