Vista Gold Corp. Announces Third Quarter Financial Results

About this update from Vista Gold Corp

[{"type":"text","content":"\n\n\n\nDENVER, Nov. 9 /CNW/ -- Vista Gold Corp. (TSX & Amex: VGZ) announced\ntoday its financial results for the three and nine months ended September 30,\n2007, as filed on November 9, 2007, with the US Securities and Exchange\nCommission and with the relevant securities commissions in Canada in the\nCorporation's Quarterly Report on Form 10-Q. Vista reported a consolidated net\nloss for the three-month period ended September 30, 2007 of US$2.2 million or\nUS$0.07 per share compared to a consolidated net loss of US$1.4 million or\nUS$0.05 per share for the same period in 2006. The Corporation's consolidated\nnet loss for the nine-month period ended September 30, 2007 was US$6.2 million\nor US$0.19 per share compared to a consolidated net loss of US$3.4 million or\nUS$0.14 per share for the same period in 2006. For both the three and\nnine-month periods, the increases in the consolidated losses of US$0.8 million\nand US$2.8 million from the respective prior periods are primarily the result\nof costs related to the completion on May 10, 2007, of the Arrangement\ninvolving the Corporation, Allied Nevada Gold Corp. and Carl and Janet Pescio.\n The transaction resulted in the acquisition by Allied Nevada of the\nCorporation's Nevada properties and the Nevada mineral assets of Carl and\nJanet Pescio. These costs amounted to US$0.5 million and US$2.9 million for\nthe respective periods.\n\n\nCash used in operations was US$1.0 million for the three-month period\nended September 30, 2007, compared to US$1.1 million for the same period in\n2006. The decrease of US$0.1 million is the result of an increase in accounts\nreceivable of US$0.2 million, an increase in supplies inventory, prepaids and\nother of US$0.8 million and an aggregate increase of non-cash items of US$0.3\nmillion, partially offset by a decrease in accounts payable, accrued\nliabilities and other expenses of US$0.3 million; and an increase in the\nconsolidated net loss of US$0.8 million.\n\n\nCash used in operations was US$3.9 million for the nine-month period\nended September 30, 2007, compared to US$3.3 million for the same period in\n2006. The increase of US$0.6 million is mostly the result of an increase in\nthe Corporation's net loss for the same 2006 period of US$2.8 million, which\nis partially offset by an aggregate increase of non-cash items of US$2.2\nmilli...

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