DENVER, April 27, 2018 /PRNewswire/ -- Vista Gold
Corp. (TSX & NYSE American: VGZ) ("Vista" or the "Company")
today announced its unaudited financial results for the first
quarter ended March 31, 2018.
Management's quarterly conference call to discuss these results is
scheduled for 10:30 a.m. MDT on
May 4, 2018. The Company's
unaudited financial statements, Management's Discussion and
Analysis together with other important disclosures can be found in
the Company's Quarterly Report on Form 10-Q, filed on April 27, 2018 with the U.S. Securities and
Exchange Commission and the Canadian securities regulatory
authorities.
Summary of Q1, 2018 Financial Results
We reported a net loss of $0.9
million or $0.01 per share for
the three-month period ended March 31,
2018. This includes $3.1
million of operating expenses, a $2.0
million mark-to-market gain on our investment in Midas Gold
Corp. and other income of $0.2
million.
Our working capital at March 31,
2018 totaled approximately $18.6
million, including cash and short-term investments
(comprised of government securities) of approximately $13.3 million. The Company currently has no
debt.
Frederick H. Earnest, President
and Chief Executive Officer, commented, "In the first quarter, we
announced the achievement of two important milestones for the Mt
Todd gold project. The approval of the authorization required
under the Australian Commonwealth Environmental Protection and
Biodiversity Protection Act marks the successful conclusion of
several years of environmental permitting work. The updated
preliminary feasibility study results demonstrate the significant
positive impact of the technical programs that were completed
during the preceding 18 months. We are now undertaking optimization
studies which we expect to complete over the next two
quarters."
Management Conference Call
A conference call with management to review our financial
results for the quarter March 31,2018
and to discuss corporate and project activities is scheduled for
Friday, May 4, 2018 at 10:30 a.m. MDT.
Participant Toll Free: 844-898-8648
International: 647-689-4225
Conference ID: 7285669
This call will also be web-cast and can be accessed at the
following web location:
http://event.on24.com/r.htm?e=1664998&s=1&k=26A74DF95DF920CD5DE2CF8A1A66A766
This call will be archived and available at www.vistagold.com
after May 4, 2018. Audio replay
will be available for 21 days by calling toll-free in North America: 855-859-2056, passcode
7285669.
If you are unable to access the audio or phone-in on the day of
the conference call, please email questions to Connie Martinez, Manager – Investor Relations
(email: connie@vistagold.com), and we 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-funded gold project developer. Our
principal asset is our flagship Mt Todd gold project in Northern
Territory, Australia. Mt Todd is the largest undeveloped gold
project in Australia.
For further information, please contact Connie Martinez at (720) 981-1185.
Forward Looking Statements
This press release contains forward-looking statements within
the meaning of the U.S. Securities Act of 1933, as amended, and
U.S. Securities Exchange Act of 1934, as amended, and
forward-looking information within the meaning of Canadian
securities laws. All statements, other than statements of
historical facts, included in this press release that address
activities, events or developments that we expect or anticipate
will or may occur in the future, including such things as our
belief that our completed technical programs have a significant
positive impact on the Mt Todd project feasibility study; our
expectation that we will complete optimization studies over the
next two quarters; and our belief that Mt Todd is the largest
undeveloped gold project in Australia are forward-looking statements and
forward-looking information. The material factors and assumptions
used to develop the forward-looking statements and forward-looking
information contained in this press release include the following:
no change to laws or regulations impacting mine development or
mining activities, our approved business plans, mineral resource
and reserve estimates and results of preliminary economic
assessments, preliminary feasibility studies and feasibility
studies on our projects, if any, our experience with regulators,
our experience and knowledge of the Australian mining industry and
positive changes to current economic conditions and the price of
gold. When used in this press release, the words
"optimistic," "potential," "indicate," "expect," "intend," "hopes,"
"believe," "may," "will," "if," "anticipate," and similar
expressions are intended to identify forward-looking statements and
forward-looking information. These statements involve known
and unknown risks, uncertainties and other factors which may cause
the actual results, performance or achievements of the Company to
be materially different from any future results, performance or
achievements expressed or implied by such statements. Such
factors include, among others, uncertainty of resource and reserve
estimates, uncertainty as to the Company's future operating costs
and ability to raise capital; risks relating to cost increases for
capital and operating costs; risks of shortages and fluctuating
costs of equipment or supplies; risks relating to fluctuations in
the price of gold; the inherently hazardous nature of
mining-related activities; potential effects on our operations of
environmental regulations in the countries in which it operates;
risks due to legal proceedings; risks relating to political and
economic instability in certain countries in which it operates;
uncertainty as to the results of bulk metallurgical test work; and
uncertainty as to completion of critical milestones for Mt Todd; as
well as those factors discussed under the headings "Note Regarding
Forward-Looking Statements" and "Risk Factors" in the Company's
latest Annual Report on Form 10-K as filed on March 6, 2018 and other documents filed with the
U.S. Securities and Exchange Commission and Canadian securities
regulatory authorities. Although we have attempted to
identify important factors that could cause actual results to
differ materially from those described in forward-looking
statements and forward-looking information, there may be other
factors that cause results not to be as anticipated, estimated or
intended. Except as required by law, we assume no obligation
to publicly update any forward-looking statements or
forward-looking information; whether as a result of new
information, future events or otherwise.
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SOURCE Vista Gold Corp.