19:35:27 EDT Thu 28 Mar 2024
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Vista Gold Corp (2)
Symbol VGZ
Shares Issued 99,412,007
Close 2018-03-06 C$ 1.03
Market Cap C$ 102,394,367
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Vista Gold working capital at $19M (U.S.) at Dec. 31

2018-03-06 19:26 ET - News Release

Ms. Connie Martinez reports

VISTA GOLD CORP. ANNOUNCES 2017 FINANCIAL RESULTS

Vista Gold Corp. has released its audited financial results and highlights for the fiscal year ended Dec. 31, 2017. Management's quarterly conference call to discuss these results is scheduled for 10:30 a.m. MST on March 9, 2018. The company's full audited financial statements, management's discussion and analysis, together with other important disclosures, can be found in the company's annual report on Form 10-K, filed with the U.S. Securities and Exchange Commission and the Canadian securities regulatory authorities.

Summary of 2017 financial results

The company reported a net loss of $12.0-million or 12 cents per share for the year ended Dec. 31, 2017. This includes $10.8-million of operating and other expenses, and a $1.2-million mark-to-market loss on the company's investment in Midas Gold Corp.

Vista Gold's working capital at Dec. 31, 2017, totalled approximately $19.0-million, including cash and short-term investments (comprising government securities) of approximately $16.6-million. The company currently has no debt.

Frederick H. Earnest, president and chief executive officer, commented: "Two thousand seventeen was a productive year for Vista. Ongoing environmental permitting work and extensive testing to improve the process flowsheet culminated in two important milestones for the Mt. Todd gold project early this year. On Jan. 22, we were notified that our request for authorization of a controlled activity, as required under the Commonwealth Environmental Protection and Biodiversity Conservation Act, had been approved. This means that Vista now has all the major environmental approvals necessary for the development of the Mt. Todd gold project. On Jan. 24, we announced the results of an updated Mt. Todd preliminary feasibility study (PFS), which demonstrates a large-scale, economically robust gold project at the current gold price. Given its location, advanced permitting status, low-cost profile and cash-generating capacity, we believe Mt. Todd is an attractive undeveloped gold project."

Management conference call

A conference call with management to review Vista's financial results for the fiscal year ended Dec. 31, 2017, and to discuss corporate and project activities is scheduled for Friday, March 9, 2018, at 10:30 a.m. MST.

Participant toll-free:  833-297-9917

International:  647-689-4524

Conference ID:  8795093

This call will also be webcast.

This call will be archived and available at the company's website after March 9, 2018. Audio replay will be available for 21 days by calling toll-free 855-859-2056 in North America, passcode 8795093.

If you are unable to access the audio or dial in on the day of the conference call, please e-mail questions to Connie Martinez, manager, investor relations (e-mail: connie@vistagold.com) and Vista will try to address these questions prior to or during the conference call.

All dollar amounts in this press release are in U.S. dollars.

About Vista Gold Corp.

The company is a well-financed gold project developer. Its principal asset is its flagship Mt. Todd gold project in Northern Territory, Australia. Mt. Todd is the largest known undeveloped gold project in Australia.

We seek Safe Harbor.

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