Vista Gold Corp. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Vista Gold Corp. has filed its Q1 2024 10-Q report, detailing financial activities and key operational entities.</b>

AI Summary

VISTA GOLD CORP (VGZ) filed a Quarterly Report (10-Q) with the SEC on May 2, 2024. Vista Gold Corp. filed its quarterly report (10-Q) for the period ending March 31, 2024. The filing covers the fiscal quarter of 2024, with specific dates ranging from January 1, 2024, to March 31, 2024. Key entities involved include Vista Gold Australia Pty. Ltd. Member, Wheaton Precious Metals Cayman Co. Member, and Mt Todd Australia Member. The report references financial data points such as Retained Earnings and Common Stock as of various dates in 2023 and 2024. The company is involved in the Gold & Silver Ores industry (SIC code 1040).

Why It Matters

For investors and stakeholders tracking VISTA GOLD CORP, this filing contains several important signals. This filing provides investors and analysts with the latest financial performance and operational updates for Vista Gold Corp. during the first quarter of 2024. Understanding the details within this 10-Q is crucial for assessing the company's current financial health, project status (like Mt Todd), and potential future performance in the gold mining sector.

Risk Assessment

Risk Level: low — VISTA GOLD CORP shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate, significant negative or positive financial disclosures that would alter the risk profile based solely on the header information.

Analyst Insight

Review the full 10-Q filing to analyze specific financial statements, management discussion, and risk factors for Vista Gold Corp.'s Q1 2024 performance.

Key Numbers

• 2024-03-31 — Reporting Period End Date (Conformed period of report)
• 2024-05-02 — Filing Date (Filed as of date)
• 10-Q — Form Type (SEC Filing Type)
• 0000783324 — Central Index Key (Filer's unique identifier)
• 1040 — SIC Code (Standard Industrial Classification for Gold & Silver Ores)

Key Players & Entities

• VISTA GOLD CORP (company) — Filer name
• VGZ (company) — Ticker symbol
• 2024-03-31 (date) — Conformed period of report
• 2024-05-02 (date) — Filed as of date
• Vista Gold Australia Pty. Ltd. Member (company) — Entity member
• Wheaton Precious Metals Cayman Co. Member (company) — Entity member
• Mt Todd Australia Member (company) — Entity member
• Gold & Silver Ores (industry) — Standard Industrial Classification

FAQ

Key Dates

• 2024-03-31: End of Reporting Period — Covers the first quarter of fiscal year 2024.
• 2024-05-02: Filing Date — Date the 10-Q report was officially submitted to the SEC.

Key Financial Figures

• $1,500 — t at 0.77 g Au/t) using a gold price of $1,500 for the mineral reserve estimate and a
• $913 — ar mine life at an average cash cost of $913 per ounce (3) ; high capital efficienc
• $1.03 b — y, with initial capital requirements of $1.03 billion, or $163 per payable ounce of gol
• $163 — pital requirements of $1.03 billion, or $163 per payable ounce of gold (3) ; after-
• $1.13 billion — unce of gold (3) ; after-tax NPV 5% of $1.13 billion and internal rate of return ("IRR") of
• $1,800 — urn ("IRR") of 20.4% at a gold price of $1,800 per ounce; and after-tax NPV 5% of $2.
• $2.01 billion — 800 per ounce; and after-tax NPV 5% of $2.01 billion and IRR of 30.3% at a price of $2,200 p
• $2,200 — billion and IRR of 30.3% at a price of $2,200 per ounce of gold. (1) Note to invest

Filing Documents

• vgz-20240331x10q.htm (10-Q) — 893KB
• vgz-20240331xex23d1.htm (EX-23.1) — 11KB
• vgz-20240331xex23d2.htm (EX-23.2) — 11KB
• vgz-20240331xex23d3.htm (EX-23.3) — 11KB
• vgz-20240331xex23d4.htm (EX-23.4) — 11KB
• vgz-20240331xex31d1.htm (EX-31.1) — 12KB
• vgz-20240331xex31d2.htm (EX-31.2) — 12KB
• vgz-20240331xex32d1.htm (EX-32.1) — 7KB
• vgz-20240331xex32d2.htm (EX-32.2) — 7KB
• vgz-20240331x10q001.jpg (GRAPHIC) — 3KB
• 0000783324-24-000048.txt (&nbsp;) — 3816KB
• vgz-20240331.xsd (EX-101.SCH) — 31KB
• vgz-20240331_cal.xml (EX-101.CAL) — 27KB
• vgz-20240331_def.xml (EX-101.DEF) — 106KB
• vgz-20240331_lab.xml (EX-101.LAB) — 242KB
• vgz-20240331_pre.xml (EX-101.PRE) — 188KB
• vgz-20240331x10q_htm.xml (XML) — 536KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

ITEM 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 3

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 12

CONTROLS AND PROCEDURES

ITEM 4. CONTROLS AND PROCEDURES 23

– OTHER INFORMATION

PART II – OTHER INFORMATION

LEGAL PROCEEDINGS

ITEM 1. LEGAL PROCEEDINGS 24

RISK FACTORS

ITEM 1A. RISK FACTORS 24

UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 24

DEFAULTS UPON SENIOR SECURITIES

ITEM 3. DEFAULTS UPON SENIOR SECURITIES 24

MINE SAFETY DISCLOSURE

ITEM 4. MINE SAFETY DISCLOSURE 24

OTHER INFORMATION

ITEM 5. OTHER INFORMATION 24

EXHIBITS

ITEM 6. EXHIBITS 25

SIGNATURES

SIGNATURES 2 Table of Contents PART I

CONDENSED CONSOLIDATED FINANCIAL STATEMENT S

ITEM 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENT S. VISTA GOLD CORP. UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEET S (Dollar amounts in U.S. dollars and in thousands) March 31, December 31, 2024 2023 Assets: Current assets: Cash and cash equivalents $ 11,913 $ 6,069 Other current assets 455 446 Total current assets 12,368 6,515 Non-current assets: Mineral properties (Note 3) 2,650 2,146 Plant and equipment, net (Note 4) 243 204 Other non-current assets 69 69 Total non-current assets 2,962 2,419 Total assets $ 15,330 $ 8,934 Liabilities and Shareholders' Equity: Current liabilities: Accounts payable $ 354 $ 190 Accrued liabilities and other (Note 5) 814 749 Total current liabilities 1,168 939 Non-current liabilities: Deferred gain on grant of royalty (Note 6) 10,000 3,000 Other liabilities 25 44 Total non-current liabilities 10,025 3,044 Total liabilities 11,193 3,983 Commitments and contingencies (Note 8) Shareholders' equity: Common shares, no par value - unlimited shares authorized; shares outstanding: 2024 - 121,634,045 and 2023 - 121,088,494 (Note 7) 476,613 476,354 Accumulated deficit ( 472,476 ) ( 471,403 ) Total shareholders' equity 4,137 4,951 Total liabilities and shareholders' equity $ 15,330 $ 8,934 Approved by the Board of Directors /s/ Tracy A. Stevenson Tracy A. Stevenson Director /s/ John M. Clark John M. Clark Director The accompanying notes are an integral part of these condensed consolidated financial statements. 3 Table of Contents VISTA GOLD CORP. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME/(LOSS) (Dollar amounts in U.S. dollars and in thousands, except per share data) Three Months Ended March 31, 2024 2023 Operating income/(expense): Exploration, property evaluation and holding costs $ ( 765 ) $ ( 804 ) Corporate administration ( 1,243 ) ( 1,168 ) Depreciation and amortizat

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS. The following discussion and analysis should be read in conjunction with our unaudited condensed consolidated financial statements for the three months ended March 31, 2024, and the related notes thereto, which have been prepared in accordance with generally accepted accounting principles in the United States. This discussion and analysis contains forward-looking statements and forward-looking information that involve risks, uncertainties, and assumptions. Our actual results may differ materially from those anticipated in these forward-looking statements and information as a result of many factors. See section heading "Note Regarding Forward-Looking Statements" below. All dollar amounts are in U.S. dollars in thousands, except per share amounts, commodity prices, and currency exchange rates unless specified otherwise. Overview Vista Gold Corp. and its subsidiaries (collectively, "Vista," the "Company," "we," "our," or "us") operate as a development stage company in the gold mining industry. Vista does not currently generate cash flows from mining operations. The Company's flagship asset is the Mt Todd gold project ("Mt Todd" or the "Project") in Northern Territory, Australia (the "NT"). Mt Todd is among the largest development stage opportunities in Australia. All major operating and environmental permits necessary to initiate development of Mt Todd are in place. Mt Todd benefits from its location in a leading mining jurisdiction and demonstrates multiple opportunities to add value through growth of mineral reserves, alternative development strategies, and other de-risking activities. The Project offers strategic optionality through development as a large-scale project or a smaller-scale start-up with subsequent staged expansion. In view of the scale of investment required to develop Mt Todd, we are evaluating alternatives that offer the potential to provide sha

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View this 10-Q filing on SEC EDGAR