The following is a summary of the Vista Gold Corporation (VGZ) Q1 2024 Earnings Call Transcript:
Financial Performance:
Vista Gold Corporation reported a 45% reduction in the company's net losses compared to Q1 2023 due to the sale of noncore assets.
The company reported consolidated net losses for Q1 2024 and 2023 of $1.1 million and $2.0 million respectively.
On March 31, 2024, its cash position improved to $11.9 million from $6.1 million at the end of 2023, largely due to the receipt of the second $7 million installment under the Wheaton Royalty Agreement.
The company has no debt.
Business Progress:
Vista Gold updated the Mt Todd feasibility study to reflect current estimates of capital and operating costs.
A drilling program targeting shallow gold resources at the north end of the Batman deposit was initiated.
Patrick Keenan was elected as a new director and member of the Board.
Vista Gold is advancing evaluations of an initially smaller scale Mt Todd project with the option for subsequent staged expansion.
The company aims to complete a feasibility study on a smaller initial scale project in the first half of next year.
More details: Vista Gold IR
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