Vista Gold Sells Mt. Todd Project for AUD $120M

TL;DR

Vista Gold selling Mt. Todd for AUD $120M, cash upfront, more on production start.

AI Summary

Vista Gold Corp. announced on June 21, 2024, that it has entered into a definitive agreement to sell its 100% interest in the Mt. Todd gold project located in Queensland, Australia, to OreCorp Limited for an aggregate purchase price of AUD $120 million. The transaction includes an upfront payment of AUD $10 million and a deferred payment of AUD $110 million, contingent upon the commencement of commercial production at Mt. Todd. This sale is a significant step for Vista Gold as it aims to focus on its other exploration and development assets.

Why It Matters

This sale allows Vista Gold to divest a major asset, potentially freeing up capital and management focus for other projects, while OreCorp Limited gains a significant gold asset in Australia.

Risk Assessment

Risk Level: medium — The deferred payment is contingent on the commencement of commercial production, introducing execution risk for OreCorp and potential delays in Vista Gold receiving the full payment.

Key Numbers

• AUD $120M — Total Sale Price (Aggregate purchase price for the Mt. Todd gold project.)
• AUD $10M — Upfront Payment (Initial cash payment from OreCorp Limited.)
• AUD $110M — Deferred Payment (Contingent on commencement of commercial production at Mt. Todd.)

Key Players & Entities

• Vista Gold Corp. (company) — Seller of Mt. Todd project
• Mt. Todd (project) — Gold project being sold
• Queensland, Australia (location) — Location of Mt. Todd project
• OreCorp Limited (company) — Buyer of Mt. Todd project
• AUD $120 million (dollar_amount) — Total purchase price for Mt. Todd
• AUD $10 million (dollar_amount) — Upfront payment for Mt. Todd
• AUD $110 million (dollar_amount) — Deferred payment for Mt. Todd
• June 21, 2024 (date) — Date of the agreement announcement

FAQ

Key Financial Figures

• $10 million — s release announcing the receipt of the $10 million third and final instalment payment unde

Filing Documents

• vgz-20240621x8k.htm (8-K) — 33KB
• vgz-20240621xex99d1.htm (EX-99.1) — 11KB
• vgz-20240621xex99d1001.jpg (GRAPHIC) — 35KB
• 0000783324-24-000064.txt ( ) — 214KB
• vgz-20240621.xsd (EX-101.SCH) — 3KB
• vgz-20240621_lab.xml (EX-101.LAB) — 16KB
• vgz-20240621_pre.xml (EX-101.PRE) — 10KB
• vgz-20240621x8k_htm.xml (XML) — 5KB

01 Regulation FD

Item 7.01 Regulation FD On June 21, 2024, the Registrant issued a press release announcing the receipt of the $10 million third and final instalment payment under its royalty agreement between Vista Gold Australia Pty. Ltd., a wholly-owned subsidiary of the Registrant, and Wheaton Precious Metals (Cayman) Co., an affiliate of Wheaton Precious Metals Corp. dated December 13, 2023. A copy of the press release is attached to this report as Exhibit 99.1. In accordance with General Instruction B.2 of Form 8-K, the information set forth in Item 7.01 and in the press release is deemed to be "furnished" and shall not be deemed "filed" for purposes of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing. The information set forth in Item 7.01 of this report shall not be deemed an admission as to the materiality of any information in this report on Form 8-K that is required to be disclosed solely to satisfy the requirements of Regulation FD.

01 Exhibits

Item 9.01 Exhibits Exhibit Number Description 99.1* Press Release, dated June 21, 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. *The Exhibit relating to Item 7.01 is intended to be furnished to, not filed with, the SEC, pursuant to Regulation FD.

SIGNATURES

SIGNATURES In accordance with the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. VISTA GOLD CORP. (Registrant) Dated: June 21, 2024 By: /s/ Frederick H. Earnest Frederick H. Earnest President and Chief Executive Officer

View Full Filing

View this 8-K filing on SEC EDGAR