Vista Gold sees Q2 net loss of $2.7-million
JOHANNESBURG (miningweekly.com) – TSX- and NYSE-listed gold project developer Vista Gold Corp saw a net loss of $2.7-million, or $0.03 a share, for the three months ended June 30.
This included $2.2-million of net operating expenses and an unrealised $0.5-million mark-to-market loss on the company’s investment in gold explorer Midas Gold.
During the quarter under review, Vista reported a net income of $1.6-million, or $0.02 a share, inclusive of $1.7-million of net operating expenses and an unrealised $3.3-million mark-to-market gain on its Midas investment.
“Our working capital at June 30, 2017 totalled approximately $23.6-million, including cash and short-term investments (comprised of government securities) of approximately $20.2-million,” stated Vista in a note to shareholders on Monday.
The company added that it currently has no debt.
Meanwhile, Vista noted that it would continue to undertake activities at its Mt Todd gold project, in Australia’s Northern Territories, to improve value and further de-risk the project.
These activities include bulk metallurgical testing, grinding and leaching optimisation studies, a prefeasibility study update, and a mine management plan update.
Mt Todd is Vista’s flagship project and is the largest undeveloped gold project in Australia.
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