Business Description
Vista Gold Corp. and its subsidiaries are engaged in the gold mining industry.
We are focused on the evaluation, acquisition, exploration and advancement of
gold exploration and potential development projects, which may lead to gold
production or value adding strategic transactions such as earn-in right agreements,
option agreements, leases to third parties, joint venture arrangements with
other mining companies, or outright sales of assets for cash and/or other consideration.
We look for opportunities to improve the value of our gold projects through
exploration drilling and/or technical studies focused on optimizing previous
engineering work. We do not currently generate cash flows from mining operations.
The Company’s flagship asset is its 100% owned Mt Todd gold project (“Mt
Todd”) in the Northern Territory (“NT”) Australia, where we
are seeking approval of our final environmental authorization and evaluating
potential material process improvements in anticipation of commencing an update
of our July 2014 Preliminary Feasibility Study (“PFS”).
Ultimately, a development decision at Mt Todd will depend on several factors,
principally a sustainable acceptable gold price, a favorable outlook for the
AUD:USD exchange rate, completion of a positive feasibility study and the availability
of financing. With 60%-70% of the project capital and operating costs denominated
in Australian dollars, the current AUD:USD exchange rate has a material favorable
impact on the project economics, substantially mitigating the effects of the
lower current USD gold price.
As one of the largest, undeveloped single-deposit gold projects in Australia,
we believe Mt Todd is a highly strategic gold project with several potential
paths to production. Our strong working capital position provides us flexibility
and the assurance that we can continue to fund further optimization studies
at Mt Todd, and to select a development strategy that we believe will have the
best potential to maximize value for our shareholders.
Vista Gold Corp. was originally incorporated on November 28, 1983 under the
name “Granges Exploration Ltd.” It amalgamated with Pecos Resources
Ltd. during June 1985 and continued as Granges Exploration Ltd. In June 1989,
Granges Exploration Ltd. changed its name to Granges Inc. Granges Inc. amalgamated
with Hycroft Resources & Development Corporation during May 1995 and continued
as Granges Inc. Effective November 1996, Da Capo Resources Ltd. and Granges,
Inc. amalgamated under the name “Vista Gold Corp.” and, effective
December 1997, Vista Gold continued from British Columbia to the Yukon Territory,
Canada under the Business Corporations Act (Yukon Territory).
