07:51:54 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Vista Gold Corp (2)
Symbol VGZ
Shares Issued 82,390,217
Close 2015-07-27 C$ 0.36
Market Cap C$ 29,660,478
Recent Sedar Documents

Vista receives $5.9-million (Australian) tax refund

2015-07-27 07:40 ET - News Release

Mr. Frederick Earnest reports

VISTA GOLD CORP. ANNOUNCES RECEIPT OF AN ADDITIONAL A$5.9 MILLION NET TAX REFUND UNDER THE AUSTRALIAN GOVERNMENT'S RESEARCH & DEVELOPMENT INCENTIVE PROGRAM

Vista Gold Corp. has received an additional $5.9-million (Australian) (approximately $4.3-million (U.S.) research and development tax incentive refund, net of costs to prepare and file). This refund is related to costs the company incurred in respect of the 2013 fiscal year. The refund was paid under the Australian government's R&D tax incentive program, a program designed to encourage industry to engage in R&D activities that benefit Australia. With this additional refund, the company has received a total of $13.4-million (Australian) net of costs to prepare and file. The company did not incur any expenses that would qualify for a material rebate under the R&D incentive program in 2014.

Frederick H. Earnest, president and chief executive officer, commented: "This rebate applies to the continuation of programs from 2012 into 2013 related to our work to find innovative solutions to the challenges at the Mt. Todd gold project, water management in particular. Some of this work has been recognized as having cost-effective industry-wide application. We are pleased with the addition of approximately $4.3-million (U.S.) of cash to our treasury and now believe, based on our current plan of operations, that we are funded into 2018. We remain committed to careful management of our financial resources and intend to continue our practice of strict capital discipline as we evaluate potential programs that could better position the Mt. Todd gold project for fast-track development when economic conditions permit."

We seek Safe Harbor.

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