DENVER, July 25, 2018 /CNW/ -- Vista Gold Corp. (TSX
& NYSE American: VGZ) ("Vista" or the "Company") today
announced its unaudited financial results for the second quarter
ended June 30, 2018. Management's
quarterly conference call to discuss these results is scheduled for
10:00 a.m. MDT on July 27, 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 July
25, 2018 with the U.S. Securities and Exchange Commission
and the Canadian securities regulatory authorities.
Summary of Q2 2018 Financial Results
We reported a net loss of $1.9
million or $0.02 per share for
the three-month period ended June 30,
2018. The loss is substantially all comprised of operating
expenses.
Our working capital at June 30,
2018 totaled approximately $16.9
million, including cash and short-term investments
(comprised of government securities) of approximately $11.6 million. The Company currently has no
debt.
Corporate Update
We continue to seek opportunities to improve the value of the Mt
Todd gold project. Ongoing fine-grinding tests suggest that
we will be able to achieve a finer grind size with the same or
slightly lower power requirements. We expect to be able to
announce the leach results associated with these grind-size tests
in the near future.
Frederick H. Earnest, President
and Chief Executive Officer, commented, "While we believe that the
Mt Todd project demonstrates significant value at today's gold
price, we are committed to achieving greater shareholder value that
will accrue from our ongoing optimization work and improved market
conditions."
Management Conference Call
A conference call with management to review our financial
results for the second quarter ended June
30, 2018 and to discuss corporate and project activities is
scheduled for Friday, July 27, 2018
at 10:00 a.m. MDT.
Participant Toll Free: 844-898-8648
Participant International: 647-689-4225
Conference ID: 9159679
This call will also be web-cast and can be accessed at the
following web location:
http://event.on24.com/r.htm?e=1803250&s=1&k=2A2DFE74EFB44C5C7A48A0679EE58D13
This call will be archived and available at www.vistagold.com
after July 27, 2018. Audio
replay will be available for 21 days by calling toll-free in
North America: 855-859-2056,
passcode 9159679.
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 we will be able to achieve a finer grind size
with the same or slightly lower power requirements and that
improved gold recoveries can be achieved at finer grind
sizes; our expectation that we will announce the leach
results associated with these grind-size tests in the near future;
our belief that the Mt Todd project demonstrates significant value
at today's gold price; our belief that greater shareholder value
that will accrue from our ongoing optimization work and improved
market conditions; 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.