Vista Gold Corp. (NYSE American and TSX: VGZ) today announced its unaudited financial results for the quarter ended March 31, 2025, with cash totaling $15.0 million at quarter-end. All dollar amounts in this press release are in U.S. dollars.
Frederick H. Earnest, President and CEO of Vista, said, "During the quarter, we made significant progress toward achieving our 2025 corporate goals. We continued to advance the 15,000 tonne per day Mt Todd feasibility study as planned, completed 1,264 consecutive days without a lost time accident, and ended the quarter with a strong cash position. We remain focused on delivering the feasibility study by mid-2025, prioritizing the efficient use of our cash, and creating long-term value for shareholders through disciplined execution and strategic advancement of our Mt Todd gold project."
Feasibility Study
The 15,000 tpd Mt Todd feasibility study aims to increase the reserve grade to 1 gram gold per tonne by applying a higher cut-off grade. It will also incorporate mine scheduling optimization strategies that prioritize higher grade ore during the early years of operation. Additionally, the study aims to reduce initial capex by 60% to $400 million, while averaging annual gold production of 150,000 to 200,000 ounces. This study will leverage prior technical studies, preserve the potential for future expansion, and demonstrate the opportunity for Mt Todd to deliver attractive economic returns with a smaller initial capital investment.
Mineral Resources Estimate
The resource block model has been updated to incorporate data from the Company's 2020-2022 and 2024 drilling programs and is being used as the basis for the new mine plan in the feasibility study. The mineral resources estimate will be completed and announced as part of the feasibility study.
Strategy
Vista is advancing Mt Todd in ways that efficiently position the project for development. The Company is focused on unlocking the potential of Mt Todd to maximize shareholder value. Vista believes the release of the 15,000 tpd feasibility study results will be well-timed in the current gold cycle and serve as a catalyst to accelerate value creation.
Summary of Financial Results
Vista reported a consolidated net loss of $2.7 million, or $0.02 per common share, for the quarter ended March 31, 2025, compared to $1.1 million, or $0.01 per common share, for the quarter ended March 31, 2024.
Cash and cash equivalents totaled $15.0 million at March 31, 2025, compared to $16.9 million at December 31, 2024. The Company continued to have no debt.
Management Conference Call
Management's conference call to review financial results for the quarter ended March 31, 2025 and to discuss corporate and project activities is scheduled for May 2, 2025 at 10:00 a.m. MDT (12:00 p.m. EDT).
Participant Toll Free: +1 (800) 431-2204 Participant International: +1 (289) 514-5015
Conference ID: 86747
This call will be archived and available at www.vistagold.com after May 2, 2025. An audio replay will also be available through May 16, 2025 by calling toll-free in North America +1 (888) 660-6264 or +1 (289) 819-1325 using passcode 86747#.
