DENVER, Oct. 26, 2016 - Vista Gold Corp. (the "Company," "we" or "our") (NYSE MKT: VGZ) (TSX: VGZ) today announced its unaudited financial results for the third quarter ended September 30, 2016. Management's quarterly conference call to discuss these results is scheduled for 2:30 p.m. MDT on October 27, 2016. The Company's unaudited financial statements, Management's Discussion and Analysis together with other important disclosures can be found in the Company's Quarterly Report on Form 10-Q, filed on October 26, 2016 with the U.S. Securities and Exchange Commission and the Canadian securities regulatory authorities.
Summary of Third Quarter 2016 Financial Results
We reported a net loss of $2.1 million or $0.02 per share for the three months ended September 30, 2016. This includes operating expenses of $1.9 million, and an unrealized $0.2 million mark-to-market loss on our investment in Midas Gold Corp. ("Midas"). During the three months ended September 30, 2015, we reported net income of $0.5 million or $0.01 per share. This included a $4.3 million payment received from the Australian Government under a research and development incentive program, offset by $3.2 million of operating and other expenses, and an unrealized $0.6 million mark-to-market loss on our investment in Midas.
Our working capital at September 30, 2016 totaled approximately $30.1 million, including cash and short-term investments (comprised of government securities) of approximately $24.8 million. The Company has no debt.
Vista's President and CEO, Frederick H. Earnest, commented, "We believe our significantly improved balance sheet gives us the resources to fund all of the project milestones necessary to advance the Mt Todd gold project to a development decision. With our metallurgical optimization programs nearing completion, we are preparing to undertake an update of our May 2013 Preliminary Feasibility Study. We intend to provide more details in a comprehensive update in the near future."
To review the Company's Quarterly Report on Form 10-Q for the three and nine months ended September 30, 2016, including the related Management's Discussion and Analysis, visit any of the following websites: www.sedar.com, www.sec.gov or www.vistagold.com.
Management Conference Call
A conference call with management to review our financial results for the three months ended September 30, 2016 and to discuss corporate and project activities is scheduled for Thursday, October 27, 2016 at 2:30 p.m. MDT.
Toll-free in North America: 1-866-233-5249
International: 416-642-3300
This call will also be web-cast and can be accessed at the following web location:
http://event.on24.com/r.htm?e=1300675&s=1&k=E5461C1588F868F9A4CE9AFDA68C4580
This call will be archived and available at www.vistagold.com after October 27, 2016. Audio replay will be available for 21 days by calling toll-free in North America: 1-888-203-1112, passcode 2108951.
If you are unable to access the audio or phone-in on the day of the conference call, please email questions to Connie Martinez, Manager – Investor Relations (email: This email address is being protected from spambots. You need JavaScript enabled to view it.), and we will try to address these questions prior to or during the conference call.
All dollar amounts in the press release are U.S. dollars.
About Vista Gold Corp.
The Company is a well-funded gold project developer. Our principal asset is our flagship Mt Todd gold project in Northern Territory, Australia where we are concluding test work to optimize the process flowsheet, seeking approval of our final environmental authorization and commencing an update of our preliminary feasibility study. We also hold approximately 4.4% of the outstanding common shares of Midas, non-core projects in Mexico and the United States and royalty interests in Indonesia. For more information about our projects, including technical studies and resource estimates, please visit our website at www.vistagold.com.
