Mineral Reserves and Production - Estimated proven and probable mineral reserves of 6.98 million ounces of gold, with an average grade of 0.77 g Au/t, based on a gold price of $1,500 per ounce[177] - Average annual production expected to be 395,000 ounces of gold over a 16-year life of mine, with 479,000 ounces during the first seven years[177] - Life of mine average cash costs projected at $913 per ounce, including $845 per ounce during the first seven years[177] - Total mined ore for the Mt Todd Gold Project reached 267,021 kt, with a contained gold of 6,979 kozs and an overall recovery rate of 91.6%[198] - Proven and probable mineral reserves are estimated at 280,375 kt, containing 6,979 kozs of gold, with an average grade of 0.77 g Au/t[201] - The total estimated recovered gold from the mine plan is projected to be 6.31 million ounces[202] - The life of mine production schedule anticipates processing 280.4 million tonnes of ore to recover 6.31 million ounces of gold[191] Economic Analysis - Initial capital requirements estimated at $1.03 billion, assuming an owner-operated mining fleet and third-party power generation[177] - After-tax NPV5% of $1.13 billion and IRR of 20.4% at a gold price of $1,800 per ounce[177] - The economic analysis for the project is based on a gold price of US$1,500 per ounce, with a cutoff grade of 0.35 g Au/t for mineral reserves[203] Mining Operations and Infrastructure - The existing tailings storage facility at Mt Todd has a capacity for approximately 80 million tonnes of additional material[215] - A fresh water storage reservoir is planned to meet year-round operational requirements for a 50,000 tonnes per day operation[215] - The project site is located less than 10 kilometers from the Stuart Highway, facilitating transportation and logistics[215] - Katherine, located 56 kilometers from the project site, offers necessary support functions typical of a medium-sized city[213] - The operational MMP was approved in June 2021 and transitioned to a Deemed Mining License in July 2024, outlining the mine operating strategy[211] Agreements and Royalties - The company modified its agreement with the Jawoyn Association, establishing a gross proceeds royalty range of 1.125% to 3.0%[189] - In December 2023, the company entered into a royalty agreement granting Wheaton Precious Metals a 1% royalty on gross revenue from mineral sales[190] - The company has a private agreement with the Jawoyn Association for access to the land, which is not classified as indigenous lands[210] Exploration and Drilling - Vista has drilled a total of 96 HQ diamond drill holes totaling 52,424 meters since acquiring the Batman deposit[245] - The mineral resource estimate for the Quigleys deposit has been defined by 632 drill holes, with a significant portion of historical drilling being reverse circulation[243] - The 2020-2022 exploration drilling program included 26 drill holes totaling 8,887 meters, confirming mineralization continuity and identifying four quality exploration targets along a 5.4 km section of the Batman-Driffield Trend[259] - The 2024 drilling program comprised 34 drill holes totaling 6,776 meters, successfully intersecting mineralization within the Batman deposit resource shell[260] - The Batman Deposit drilling history includes a total of 826 holes with 8,239 meters of percussion drilling, 75,059 meters of diamond drilling, and 67,260 meters of RC drilling[249] Environmental and Regulatory Compliance - The environmental impact statement (EIS) was approved in September 2014, allowing the project to proceed with 28 recommendations to be addressed[310] - The mine plan has been developed in consultation with the Jawoyn Association, avoiding areas of aboriginal significance[316] - The company obtained a waste discharge license from the NT Government, allowing the release of treated water from the Mt Todd site during the wet season, adhering to an 80% protection limit environmental standard[317] Assay and Data Integrity - A comprehensive audit of 12,365 assays revealed that 95% matched the source documents, indicating high data integrity[273] - The majority of assay differences were minimal, with over 99% falling within the range of -0.1 ppm Au to +0.1 ppm Au, below the economic cutoff grade[275] - Significant discrepancies were found in two assays: one reported 0.005 ppm Au instead of 0.8 ppm Au, and another reported 1.08 ppm Au instead of 0.01 ppm Au[279] Processing and Recovery - Gold recovery rates from the proposed processing method are estimated to be 91.6% on a weighted-average basis, net of solution losses[302] - The existing heap leach pad contains nearly 13.4 million tonnes of material, with an average grade of 0.54 g Au/t based on a 3D resource model[306] - The proposed comminution circuit is designed to process 50,000 tpd, incorporating HPGR technology to enhance efficiency and reduce energy requirements[297] - The company has completed a total of 71 leach tests, confirming leach recoveries of 91.9%, net of solution losses[303] Future Plans and Expenditures - A drilling program completed in 2024 totaled 6,776 meters, focusing on the north end of the Batman deposit and adjacent SXL, with plans for a 2025 FS to increase mineral reserve grade to approximately 1 gram gold per tonne[319] - The initial capex for the 2025 FS is anticipated to be approximately $400 million, with expected average annual gold production ranging from 150,000 to 200,000 ounces from 5.2 million tpa ore throughput[319] - The company plans to incur expenditures of approximately $2,400 for maintenance and environmental stewardship at the Mt Todd site, plus $3,200 for work plans related to the 2025 FS and equipment purchases[320]

Financial Performance - Vista Gold Corp. announced its financial results for Q3 2024, ending September 30, 2024[3] - The company reported a net loss of $2.5 million for the quarter, compared to a net loss of $1.8 million in Q3 2023, representing a 39% increase in losses year-over-year[3] - Total assets as of September 30, 2024, were $15.2 million, a decrease from $17.5 million at the end of Q3 2023, indicating an 13.14% decline[3] Strategic Focus - The company is focusing on advancing its projects and expects to increase its exploration activities in the upcoming quarters[3] - Vista Gold Corp. is exploring potential partnerships to enhance its market position and operational capabilities[3] - The management highlighted the importance of new technology in improving operational efficiency and reducing costs[3] - Future guidance indicates a potential increase in operational expenditures as the company ramps up exploration efforts[3] - The company is committed to maintaining a strong cash position to support its strategic initiatives[3] - Vista Gold Corp. is evaluating opportunities for market expansion in North America and internationally[3] - The management emphasized the importance of stakeholder engagement in driving future growth strategies[3]

Project Overview - The Mt Todd Gold Project hosts proven and probable mineral reserves of 6.98 million ounces, with an average grade of 0.77 g Au/t[50]. - The feasibility study for Mt Todd indicates an average annual production of 395,000 ounces of gold over a 16-year mine life at an average cash cost of $913 per ounce[52]. - Initial capital requirements for the Mt Todd project are estimated at $1.03 billion, equating to $163 per payable ounce of gold[52]. - The after-tax NPV5% is projected at $1.13 billion with an internal rate of return (IRR) of 20.4% at a gold price of $1,800 per ounce[52]. - The updated feasibility studies for the Mt Todd Gold Project indicate a total payable gold of 6,313 koz and operating costs of $5,420 million over a life of mine of 16 years[86]. - The updated feasibility study anticipates annual gold production of 150,000 to 200,000 ounces with an initial capital cost of less than $400 million[93]. Financial Performance - Consolidated net loss for Q3 2024 was $1,638, compared to a loss of $1,454 in Q3 2023, while net income for the nine months ended September 30, 2024 was $12,922, compared to a loss of $4,928 in the same period of 2023[63]. - The company recognized a gain of $16,909 from the grant of royalty interest in mineral titles in June 2024, which included a deferred gain of $10,000 and a final installment payment of $10,000[65]. - Interest income rose to $230 for Q3 2024 from $68 in Q3 2023, attributed to higher average cash balances[67]. - Net cash used in operating activities decreased to $3,808 for the nine months ended September 30, 2024, from $4,090 in the same period of 2023[68]. - Net cash provided by investing activities was $16,139 for the nine months ended September 30, 2024, compared to a cash outflow of $43 in the same period of 2023[69]. - The company estimates net recurring costs for the next 12 months will be approximately $6,400, plus an additional $4,200 for work plans at Mt Todd[73]. - As of September 30, 2024, the company had $8,042 remaining available under the ATM Program for potential equity issuances[74]. Exploration and Development - A drilling program of 6,000-7,000 meters is nearing completion, with a total cost of approximately $2,000, confirming extensions of mineralized boundaries[48]. - Exploration has identified additional growth targets along a 5.4 kilometer trend outside the Batman deposit, indicating potential for resource expansion[50]. - The ongoing drilling program has confirmed the extension of the core zone and identified multiple high-grade intercepts, nearing completion of the planned 6,000-7,000 meter program[88]. - An internal scoping study for a 15 ktpd operation was completed in 2023, which could reduce financing, development, and operating risks[46]. Royalty and Regulatory Changes - The new Mineral Royalties Act 2024 will apply a 3.5% ad valorem royalty rate to gold production from Mt Todd, reducing payable NT royalties by nearly 50% compared to previous estimates[53][54]. - A royalty agreement with Wheaton Precious Metals Corp. was established, granting a 1% gross revenue royalty on future gold production in exchange for $20 million, fully received by June 30, 2024[87]. - The 3.5% ad valorem royalty regime is expected to reduce payable royalties by nearly 50%, improving project economics compared to previous estimates[93]. Strategic Goals - The company aims to maintain adequate liquidity while minimizing dilution to enhance shareholder value[49]. - The company aims to maintain adequate liquidity and minimize dilution while advancing the Mt Todd project and realizing value from its non-core assets[78]. - The company believes that the Mt Todd project has high capital efficiency and offers significant growth opportunities in the current strong gold market[92]. - The company is classified as a "passive foreign investment company" (PFIC) for U.S. Federal tax purposes, which may have implications for U.S. shareholders[91].

Group 1 - The price trend for Vista Gold (VGZ) has been bearish recently, with a 5% loss over the past week, but a hammer chart pattern suggests a potential trend reversal as buying interest may be increasing [1] - The hammer chart pattern indicates a possible bottom formation, signaling that selling pressure may be subsiding, which could lead to a bullish trend [2] - Strong agreement among Wall Street analysts in raising earnings estimates for VGZ enhances the likelihood of a trend reversal, with a 280% increase in the consensus EPS estimate over the last 30 days [3] Group 2 - VGZ currently holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks, indicating strong potential for outperformance in the market [3] - The Zacks Rank serves as a timing indicator, suggesting that VGZ's prospects are beginning to improve, further supporting the case for a potential turnaround [3]

Financial Data and Key Metrics Changes - Vista reported consolidated net income of $15.6 million for Q2 2024, compared to a net loss of $1.5 million in Q2 2023, primarily due to a gain of $16.9 million from a royalty interest grant [17][21] - For the six-month period ended June 30, 2024, the company reported a net income of $14.6 million, compared to a net loss of $3.5 million for the same period in 2023 [21][23] - Cash at the end of Q2 2024 totaled $20.2 million, with no debt reported [15] Business Line Data and Key Metrics Changes - The drilling program for 2024 includes a total of 6,000 to 7,000 meters, with Phase 1 completed in June, consisting of 11 holes totaling almost 3,000 meters [26] - Costs associated with the ongoing development drilling program were $524,000 for Q2 2024, which were capitalized [20] Market Data and Key Metrics Changes - The new Mineral Royalties Act of 2024, effective July 1, 2024, replaced the previous net profits royalty regime with a 3.5% ad valorem royalty, significantly improving project economics for the Mt Todd project [12][35] - The new royalty structure is expected to reduce payable royalties over the life of the mine from approximately $765 million to a range of $350 million to $400 million [50][36] Company Strategy and Development Direction - The company aims to advance evaluations of a smaller scale Mt Todd project while preserving flexibility for future expansions [37][39] - Vista is focused on maintaining a strong balance sheet and maximizing shareholder value through thoughtful evaluations and minimizing risks [39][57] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the rising gold price environment, which is expected to enhance margins and create greater value recognition [38][39] - The company is committed to developing the Mt Todd project in alignment with high mining and ESG standards, emphasizing the importance of stakeholder trust [30][31] Other Important Information - The appointment of Maria Vallejo Garcia as Director of Projects and Technical Services is expected to enhance the company's technical capabilities [28] - The company has achieved 991 consecutive accident-free days at the Mt Todd site, reflecting its commitment to health, safety, and environmental initiatives [13] Q&A Session Summary Question: Plans for the $20 million from Wheaton - Management indicated that the funds will be allocated primarily to recurring costs and drilling expenses, with no significant changes in spending expected [46][48] Question: Timing of royalty payments to the government - The new 3.5% ad valorem royalty will be flat across the life of the mine, replacing the previous structure and simplifying the payment process [50][51] Question: Overall impact of the new royalty structure - Management highlighted that the new royalty system simplifies the calculation and enhances competitiveness, which is expected to benefit future mining projects [51][52]

[Filing Information](index=1&type=section&id=Filing%20Information) This section outlines the administrative details of the Form 8-K filing, including registrant identification, report date, and stock exchange listing [General Filing Details](index=1&type=section&id=General%20Filing%20Details) This section provides the general administrative details of the Form 8-K filing, including the registrant's identification, the date of the report, and its stock exchange listing - Registrant: **Vista Gold Corp.**[14](index=14&type=chunk) - Date of Report: **July 29, 2024**[4](index=4&type=chunk) Registrant's Securities Information | Title of each class | Trading Symbol(s) | Name of each exchange on which registered | | :------------------ | :---------------- | :---------------------------------------- | | Common Shares | VGZ | NYSE American | [Item 2.02 Results of Operation and Financial Condition](index=2&type=section&id=Item%202.02%20Results%20of%20Operation%20and%20Financial%20Condition) This section details the announcement of Vista Gold Corp.'s financial and operational results for the quarter ended June 30, 2024, and related communication methods [Announcement of Financial and Operational Results](index=2&type=section&id=Announcement%20of%20Financial%20and%20Operational%20Results) Vista Gold Corp. announced its financial and operational results for the quarter ended June 30, 2024, through a press release and scheduled a management call to discuss these results - Announcement: **Financial and operational results for the quarter ended June 30, 2024**[2](index=2&type=chunk) - Method of Announcement: **Press Release (Exhibit 99.1)** and a **management call**[2](index=2&type=chunk) [Item 9.01 Exhibits](index=2&type=section&id=Item%209.01%20Exhibits) This section lists the exhibits accompanying the Form 8-K, including the Q2 2024 press release and interactive data file, clarifying their SEC filing status [Exhibit List and Filing Status](index=2&type=section&id=Exhibit%20List%20and%20Filing%20Status) This section details the exhibits accompanying the Form 8-K, specifically the press release for Q2 2024 results and the interactive data file, clarifying that the press release is furnished rather than filed with the SEC Exhibits Included | Exhibit Number | Description | | :------------- | :------------------------------------------------------------------------------------------------------------------------------------- | | 99.1 | Press Release, dated July 29, 2024. | | 104 | Cover Page Interactive Data File––the cover page interactive data file does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document. | - Filing Status of Exhibit 99.1: Intended to be **furnished to, not filed with, the SEC**, pursuant to Regulation FD, and not deemed 'filed' for purposes of Section 18 of the Exchange Act[3](index=3&type=chunk)[7](index=7&type=chunk) [Signatures](index=2&type=section&id=SIGNATURES) This section formally documents the authorized signatories for the report, including their titles and the date of signature [Report Signatories](index=2&type=section&id=Report%20Signatories) The report is formally signed on behalf of Vista Gold Corp. by its President and Chief Executive Officer, confirming its due authorization - Signatory: **Frederick H. Earnest, President and Chief Executive Officer**[13](index=13&type=chunk) - Date of Signature: **July 29, 2024**[13](index=13&type=chunk)

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-09025 Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of the lat ...

Vista Gold Corporation (NYSE:VGZ) Q1 2024 Earnings Conference Call May 7, 2024 4:00 PM ET Company Participants Pamela Solly - VP, IR Fred Earnest - President & CEO Doug Tobler - CFO Conference Call Participants Operator Good day, ladies and gentlemen. Welcome to Vista Gold's First Quarter 2024 Financial Results and Corporate Update Conference Call. [Operator Instructions] As a reminder, this conference is being recorded. Today is Tuesday, May 7, 2024. It's now my pleasure to introduce Pamela Solly, Vice Pre ...

Date of Report: May 2, 2024 (Date of earliest event reported) UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 VISTA GOLD CORP. (Exact Name of Registrant as Specified in Charter) British Columbia, Canada (State or Other Jurisdiction of Incorporation) 1-9025 (Commission File Number) Not Applicable (IRS Employer Identification No.) 8310 S VALLEY HWY, SUITE 300, ENGLEWOOD, COLORADO 80112 (Addre ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-09025 VISTA GOLD CORP. (Exact Name of Registrant as Specified in its Charter) | British Columbia | 98-0542444 ...