Business
Vista Gold Corp. Announces Third Quarter Financial Results and Mt Todd Update
DENVER, Oct. 23, 2019 /CNW/ -- Vista Gold Corp. (NYSE American and TSX: VGZ) ("Vista" or the "Company") today announced its unaudited financial results for the
About this update from Vista Gold Corp
[{"type":"text","content":" DENVER, Oct. 23, 2019 /CNW/ -- Vista Gold Corp. (NYSE American and TSX: VGZ) (\"Vista\" or the \"Company\") today announced its unaudited financial results for the quarter ended September 30, 2019. Management's quarterly conference call to discuss these results is scheduled for 4:30 p.m. EDT on October 24, 2019. The Company's unaudited condensed consolidated financial statements and management's discussion and analysis, together with other applicable disclosures can be found in the Company's Quarterly Report on Form 10-Q, filed on October 23, 2019 with the U.S. Securities and Exchange Commission and the Canadian securities regulatory authorities. Third Quarter Highlights and Recent Developments Positive results of the updated October 2019 preliminary feasibility study (the \"2019 PFS\") for the Mt Todd gold project (\"Mt Todd\" or the \"Project\") with improved after-tax net present value at a 5% discount rate (\"NPV5%\") of $823 million and internal rate of return (\"IRR\") of 23.4% at a price of $1,350 per ounce of gold and a $0.70=A$1.00 exchange rate; 2019 PFS after-tax NPV5% of $1.15 billion and IRR of 30.3% at a price of $1,500 per ounce of gold and a $0.68=A$1.00 exchange rate; Metallurgical optimization program demonstrated life-of-mine gold recovery of 91.9% and total recovered gold of 5.3 million ounces; and Received the third $1.5 million option payment from Prime Mining Corp. for the Company's Guadalupe de los Reyes gold / silver project in Sinaloa, Mexico (\"Los Reyes\"). Vista's President and CEO, Mr. Frederick H. Earnest commented, \"Completing the 2019 PFS was a significant achievement in further advancing and de-risking Mt Todd. With average life-of-mine gold recoveries of 91.9%, NPV5% of $823 million, an IRR of 23.4% at a $1,350 per ounce gold price and a $0.70=A$1.00 exchange rate, and all major environmental approvals in place, we believe Mt Todd is a superior asset located in a Tier-1 mining jurisdiction. In addition, we believe the independent benchmarking study provides greater confidence to the capital and operating cost estimates in the technical report. These studies provide a solid foundation to further advance the Project and demonstrate that Mt Todd is poised to become a major Australian gold producer. We intend to continue to de-risk Mt Todd in a cost-effective manner while seeking to se...