Vista Gold Highlights 2020 Achievements and Provides 2021 Outlook
DENVER, Jan. 14, 2021 (GLOBE NEWSWIRE) -- Vista Gold Corp. (NYSE American and TSX: VGZ) (“Vista” or the “Company”) today reviewed its key 2020 accomplishments and outlined 2021 priorities for the
Company’s 100% owned Mt Todd gold project (“Mt Todd” or the “Project”) located in Northern Territory (“NT”), Australia.
Fred Earnest, President and CEO of Vista Gold, stated, “We are pleased to have achieved many of our 2020 corporate objectives in spite of the challenges presented by the COVID-19 pandemic.
Financially, we successfully monetized non-core assets to fund working capital, strengthen our balance sheet and cash position, and set the path to generate additional cash of up to US$4.6 million during 2021. Technically, we engaged with the NT government to support its review of our Mining Management Plan (“MMP”) and move it toward approval, completed and announced positive results of an independent benchmarking study of the 2019 PFS and commenced a drill program to test the existence of mineralization with vertical and lateral continuity within and immediately adjacent to the planned Batman pit. Strategically, we strengthened our relationship with the Jawoyn Association through an updated agreement and laid the foundation to support the pursuit of opportunities that will create greater value for our shareholders.
Lesen Sie auch
As we begin 2021, we are encouraged about the prospects for Vista, Mt Todd and our shareholders. Most importantly, our strategy will continue to focus on programs to enhance value and de-risk Mt Todd as we work to achieve a valuation reflective of the size of the gold deposit, together with its Tier-1 mining jurisdiction in Australia’s low-risk NT, favorable low operating costs, robust project economics, and the fact that we hold approvals for all major environmental permits. With an asset of this scale, one of the best ways to balance risk and narrow the gap between Vista’s current market capitalization and Project net present value (“NPV”) is to seek a strategic transaction with a partner who is prepared to provide Vista shareholders with an appropriate valuation for the interest to be acquired, and that brings project development and operation skills and financial strength as we advance Mt Todd together. Fundamental to any transaction that we may consider, is our commitment to preserve maximum Project ownership for our shareholders, while minimizing future dilution. It is important to reiterate that we are not constrained or obligated to complete a transaction that does not achieve the goal of enhancing Vista’s valuation.