Vista Gold Corp. Announces Updated Feasibility Study for the Mt Todd Gold Project
The updated feasibility study reflects changes in project economics since the feasibility study filed in
Highlights of the Mt Todd 2024 Updated FS appear below, with changes from the 2022 feasibility study shown in parenthesis ( ):
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After-tax NPV5% of
$1.13 billion (+$131.5 million ) and IRR of 20.4% (-0.2%) at a$1,800 gold price and a$0.69 Fx rate(1)(2); -
Average cash costs of
$913 (+$96 ) per ounce (life of mine)(3); -
Average all-in sustaining cost (“AISC”) of
$1,034 (+$104 ) per ounce (life of mine)(3); and -
Initial capital requirements of
$1.03 billion (+$138 million ), which continues to reflect the use of a third-party owner/operator of the power plant.
(1) |
All dollar amounts stated herein are in |
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(2) |
The 2022 feasibility study economics were reported at a gold price of |
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(3) |
Cash costs per ounce and AISC per ounce are non-GAAP financial measures. See “Note Regarding Non-GAAP Financial Measures” below for a discussion on non-GAAP financial measures and a reconciliation to |
Using a gold price of
“These results do not change our strategy for Mt Todd. We continue to work with
Detailed Report
An S-K 1300 technical report summary for the 2024 Updated FS will be included as an exhibit to the Company’s Annual Report on Form 10-K for the year ended
Mineral Resources and Mineral Reserves
The tables below present the estimated mineral resources and mineral reserves for the Project. The effective date of the mineral resources and mineral reserves estimates is
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Based on |
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Batman Deposit |
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Heap Leach Pad |
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Quigleys Deposit |
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Total |
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Contained |
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Contained |
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Contained |
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Contained |
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Tonnes |
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Grade |
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Ounces |
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Tonnes |
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Grade |
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Ounces |
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Tonnes |
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Grade |
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Ounces |
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Tonnes |
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Grade |
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Ounces |
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(000s) |
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(g Au/t) |
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(000s) |
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(000s) |
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(g Au/t) |
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(000s) |
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(000s) |
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(g Au/t) |
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(000s) |
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(000s) |
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(g Au/t) |
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(000s) |
Measured |
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— |
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— |
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— |
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— |
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— |
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— |
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594 |
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1.15 |
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22 |
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594 |
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1.15 |
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22 |
Indicated |
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10,816 |
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1.76 |
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613 |
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— |
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— |
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— |
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7,301 |
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1.11 |
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260 |
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18,117 |
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1.49 |
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873 |
Measured & Indicated |
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10,816 |
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1.76 |
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613 |
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— |
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— |
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— |
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7,895 |
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1.11 |
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282 |
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18,711 |
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1.49 |
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895 |
Inferred |
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61,323 |
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0.72 |
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1,421 |
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— |
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— |
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— |
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3,981 |
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1.46 |
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187 |
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65,304 |
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0.77 |
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1,608 |
Notes: |
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1) |
Measured & Indicated Mineral Resources exclude Proven and Probable Reserves. |
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2) |
Batman and Quigleys mineral resources are quoted at a 0.40g-Au/t cut-off grade. Heap Leach resources are the average grade of the heap, no cut-off applied. |
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3) |
Batman: Mineral resources constrained within a |
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4) |
Quigleys: Resources constrained within a |
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5) |
Differences in the table due to rounding are not considered material. Differences between Batman and Quigleys mining and metallurgical parameters are due to their individual geologic and engineering characteristics. |
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6) |
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7) |
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8) |
The effective date of the Heap Leach, Batman and Quigleys resource estimate is |
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9) |
Mineral resources that are not mineral reserves have no demonstrated economic viability and do not meet all relevant modifying factors. |
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Batman Deposit |
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Heap Leach Pad |
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Total |
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Contained |
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Contained |
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Contained |
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Tonnes |
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Grade |
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Ounces |
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Tonnes |
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Grade |
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Ounces |
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Tonnes |
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Grade |
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Ounces |
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(000s) |
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(g Au/t) |
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(000s) |
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(000s) |
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(g Au/t) |
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(000s) |
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(000s) |
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(g Au/t) |
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(000s) |
Proven |
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81,277 |
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0.84 |
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2,192 |
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— |
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— |
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— |
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81,277 |
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0.84 |
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2,192 |
Probable |
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185,744 |
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0.76 |
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4,555 |
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13,354 |
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0.54 |
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232 |
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199,098 |
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0.75 |
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4,787 |
Proven & Probable |
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267,021 |
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0.79 |
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6,747 |
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13,354 |
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0.54 |
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232 |
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280,375 |
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0.77 |
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6,979 |
Economic analysis conducted only on proven and probable mineral reserves. |
Notes: |
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1) |
Thomas L. Dyer, P.E., is the QP responsible for reporting the Batman Deposit Proven and Probable mineral reserves. |
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2) |
Batman deposit mineral reserves are reported using a 0.35 g Au/t cutoff grade and |
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3) |
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4) |
Because all the heap-leach pad reserves are to be fed through the mill, these reserves are reported without a cutoff grade applied. |
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5) |
The mineral reserves point of reference is the point where material is fed into the mill. |
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6) |
The effective date of the mineral reserve estimates under the requirements of S-K 1300 is |
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7) |
The effective date of the mineral reserve estimates under the requirements of NI 43-101 is |
Qualified Person
About
Vista is a gold project developer. The Company’s flagship asset is Mt Todd, located in the mining friendly jurisdiction of
Mt Todd benefits from its location in a leading mining jurisdiction and offers opportunities to add value through growth of mineral reserves, alternative development strategies, and other de-risking activities.
For further information about Vista or Mt Todd, please contact
Forward Looking Statements
This news release contains forward-looking statements within the meaning of the
Note Regarding Non-GAAP Financial Measures
In this press release, we have provided information prepared or calculated according to
The non-
We believe that these metrics help investors understand the economics of the Project. We present the non-
Cash Operating Costs, Cash Costs, AISC and Respective Unit Cost Measures
Cash Operating Costs is a non-
Cash Costs and AISC are non-
Cash Operating Costs consist of Project operating costs and refining costs, and exclude royalties.
Cash Costs consist of Cash Operating Costs (as described above), plus royalties. The sum of these costs is divided by the corresponding payable gold ounces to determine the per ounce metrics.
AISC consists of Cash Costs (as described above), plus sustaining capital costs. The sum of these costs is divided by the corresponding payable gold ounces to determine the per ounce metric.
Other costs excluded from Cash Operating Costs, Cash Costs, and AISC include depreciation and amortization, income taxes, government royalties, financing charges, costs related to business combinations, asset acquisitions other than sustaining capital, and asset dispositions.
The following tables demonstrate the calculation of Cash Operating Costs, Cash Costs, AISC, and related unit-cost metrics for amounts presented in this press release.
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Units |
Life of Mine |
Payable Gold |
koz |
6,313 |
Operating Costs |
US$ millions |
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Refining Cost |
US$ millions |
23 |
Cash Operating Costs |
US$ millions |
5,443 |
Royalties |
US$ millions |
324 |
Cash Costs |
US$ millions |
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Cash Cost per ounce |
US$/oz |
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Sustaining Capital |
US$ millions |
759 |
All-In-Sustaining Costs |
US$ millions |
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AISC per ounce |
US$/oz |
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Units |
Life of Mine |
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Payable Gold |
koz |
6,313 |
Mining Costs |
US$ millions |
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Processing Costs |
US$ millions |
2,889 |
Site General and Administrative Costs |
US$ millions |
293 |
Project Services |
US$ millions |
84 |
Operating Costs |
US$ millions |
5,420 |
Refining Cost |
US$ millions |
23 |
Cash Operating Costs |
US$ millions |
5,443 |
Royalties |
US$ millions |
324 |
Cash Costs |
US$ millions |
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Note: Amounts may not add to totals due to rounding.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240312062923/en/
Vice President of Investor Relations
(720) 981-1185
www.vistagold.com
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