Yahoo Finance

• Net Loss: $1.6 million for Q3 2024, compared to $1.5 million for Q3 2023.

• Net Income (Nine Months Ended September 30, 2024): $12.9 million, compared to a net loss of $4.9 million for the same period in 2023.

• Gain on Grant of Royalty Interest: $16.9 million.

• Gain on Sale of Mill Equipment: $800,000.

• Cash Position: $19 million as of September 30, 2024.

• Debt: No debt reported.

• Feasibility Study Target: 150,000 to 200,000 ounces of annual gold production with an initial capital cost of less than $400 million.

• Proven and Probable Reserves: 7 million ounces of gold at Mt Todd.

• Warning! GuruFocus has detected 2 Warning Sign with VGZ.

Release Date: October 24, 2024

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

• Vista Gold Corp (VGZ) reported significant progress in its drilling program, confirming the extension of the core zone and mineralized boundaries at the Mt Todd project.

• The company ended the quarter with a strong cash position of $19 million and no debt, indicating financial stability.

• Vista Gold Corp (VGZ) has initiated trade-off studies for an alternative scale development plan, aiming to lower initial capital expenditure while maintaining high margins.

• The Mt Todd project is shovel-ready with all major permits approved, positioning it as an attractive development opportunity in a strong gold market.

• The company has maintained a strong safety record with 1077 consecutive accident-free days at the Mt Todd site.

Negative Points

• Vista Gold Corp (VGZ) reported a consolidated net loss of $1.6 million for the third quarter of 2024, slightly higher than the previous year's loss.

• Increased costs related to the Mt Todd project, including expenses for drill holes that did not qualify for capitalization, contributed to the financial loss.

• The company is still in the early stages of understanding the South Cross Load zone, indicating potential uncertainty in resource estimation.

• Despite a strong gold market, developers like Vista Gold Corp (VGZ) have lagged behind senior gold producers in terms of share price performance.

• The company faces challenges in attracting partners or buyers for the Mt Todd project, as indicated by ongoing but undisclosed discussions with potential interested parties.

Q & A Highlights

Q: How many parties have you had serious discussions with regarding a partnership or buyout, and what is the status of these discussions? A: Frederick Earnest, President and CEO, stated that while they do not disclose specific numbers or names of parties they've signed confidentiality agreements with, there has been increased interest in the Mt Todd Gold project. They have had substantive conversations with interested groups, and discussions are ongoing. He mentioned that Newcrest Mining was one of the companies that conducted significant due diligence before being acquired by Newmont.