VISTA GOLD CORP. ANNOUNCES FIRST QUARTER FINANCIAL RESULTS

Alleen voor leden beschikbaar, wordt daarom gratis lid!

Algemeen advies 29/04/2023 08:48
Denver, Colorado, April 28, 2023 – Vista Gold Corp. (NYSE American and TSX: VGZ) (“Vista” or the “Company”) today announced its unaudited financial results for the quarter ended March 31, 2023, with reported cash totaling $6.6 million. All dollar amounts in this news release are in U.S. dollars.

Frederick H. Earnest, President and Chief Executive Officer of Vista, stated, “Our achievements during the first quarter of this year reflect our ongoing commitment to maximize the value of the Mt Todd gold project for our shareholders. We completed an internal scoping study to evaluate the technical and economic merits of smaller-scale development alternatives for Mt Todd. The study delivered promising results, including initial capital expenditures of less than $350 million for a project with 5.2 million tonnes per year throughput and gold production of 150,000 – 200,000 ounces of gold per year, while preserving the opportunity for subsequent expansion or staged development. Since announcing the completion of the scoping study, there has been both new and renewed interest in the optionality of Mt Todd under different development strategies.

“We also announced that the results of the most recent Mt Todd surface exploration program returned excellent anomalous gold assays from the surface sampling of two targets, including up to 4.0 grams of gold per tonne at one of the targets and reiterating our belief that the Mt Todd land package has tremendous discovery potential. Finally, we continued to take actions to implement cost reductions, which had a positive impact on our quarter end financial position.”

Summary of Financial Results

At March 31, 2023, cash and cash equivalents totaled $6.6 million compared to $8.1 million at December 31, 2022. The Company continued to have no debt.

Vista reported a consolidated net loss of $2.0 million, or $0.02 per common share, for the quarter ended March 31, 2023 compared to a consolidated net loss of $0.3 million, or $0.00 per common share for the quarter ended March 31, 2022. The loss for the current quarter was in line with management’s expectations and reflects cost reductions implemented to date. The prior year loss for the quarter ended March 31, 2022 was lower because of a non-recurring gain of $2.9 million.

The Company’s consolidated unaudited financial statements and management’s discussion and analysis together with other important disclosures can be found in the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2023, filed with the U.S. Securities and Exchange Commission on EDGAR at www.sec.gov/edgar and with the Canadian securities regulatory authorities on SEDAR at www.sedar.com.

Management Conference Call

Management’s conference call to review financial results for the quarter ended March 31, 2023 and to discuss corporate and project activities is scheduled for Monday, May 1, 2023 at 2:00 pm MT (4:00 pm ET).

Participant Toll Free: (888) 396-8049
Participant International: (416) 764-8646



Beperkte weergave !
Leden hebben toegang tot meer informatie! Omdat u nog geen lid bent of niet staat ingelogd, ziet u nu een beperktere pagina. Wordt daarom GRATIS Lid of login met uw wachtwoord


Copyrights © 2000 by XEA.nl all rights reserved
Niets mag zonder toestemming van de redactie worden gekopieerd, linken naar deze pagina is wel toegestaan.


Copyrights © DEBELEGGERSADVISEUR.NL