AMEX and TSX: VGZ
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| Gold Price: | 887.25 | |
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Vista Gold
Vista Gold Corp. is undertaking a definitive feasibility study for its Paredones Amarillos Project, as previously reported, that will examine potential development scenarios in the range of 130,000 - 150,000 ounces of gold production per year from the gold resources at the project. Vista intends to publish regular updates on technical and economic changes and progress during the development of the Paredones Amarillos Project. As part of the feasibility study, Vista’s consultants have been considering alternative processing flow sheets. Preliminary studies by Vista proposed the use of flotation and leaching of the flotation concentrate, while earlier extensive evaluation and design work had been completed by Echo Bay Mines on whole-ore leach using carbon-in-pulp gold recovery. Vista intends to focus its development efforts now on the whole-ore leach process, because of the estimated lower capital and operating costs when compared to the flotation process, potentially higher gold recovery, better equipment compatibility with the used mill equipment Vista is purchasing (see press releases of January 2 and 7, 2008) and the fact that Echo Bay Mines had completed essentially all permitting associated with this process alternative. Vista’s managing technical consultant for the definitive feasibility study, SRK Consulting (US), Inc. of Lakewood, Colorado, has updated operating and capital cost estimates based on preliminary estimates prepared by the consultants retained to complete the definitive feasibility study. The updated estimates incorporate actual prices for a substantial portion of the mill equipment and budget prices for mine equipment. The cost estimates are based in part on information found in the report filed under Vista Gold Corp. on SEDAR: “Updated Technical Report, Paredones Amarillos Project, Baja California Sur, Mexico”, dated June 20, 2007, prepared under the direction of Mr. Neil Prenn, an independent qualified person.
The cost estimates assume an open pit mine and whole-ore leach processing with estimated metallurgical recovery of 91.5% to produce an average annual gold production of 117,000 ounces of gold per year over its 12.4-year life. The preproduction capital and preproduction development costs for the project using the whole-ore leach process are estimated to be approximately $169.1 million and the operating costs are estimated to be approximately $12.53 per tonne of ore processed, which represents an increase in the amounts previously disclosed in the Vista’s press release dated June 21, 2007. Work on the project is still ongoing and as a result, the estimated preproduction and estimated operating costs may change as further work is conducted.
Fred Earnest, President and COO, commented, “The updated capital and operating cost estimates reported today reflect the results of significant work completed by the consultants retained to complete the definitive feasibility study for the Paredones Amarillos Project. While that study is not expected to be completed until the beginning of the third quarter of this year, we are satisfied that these estimates reflect current costs of materials, supplies and labor and the work constitutes a comprehensive analysis of the estimated project costs. The analysis incorporates actual costs for the mill equipment the Corporation has purchased and budgetary costs for the mining fleet. With these cost estimates completed, considerable work is in progress to optimize the mine plans, production rates and to achieve improvements in other areas.”
Vista Gold Corp. completed spinning off its large Nevada property portfolio in May 2007 through a plan of arrangement to achieve two goals – earning market recognition of the Company’s mineral assets, and effecting a strategic change in its business model that could result in the Company becoming a mid-tier gold producer in the relatively near future. This level of production is predicated upon the successful achievement of its plans to construct and commission the Paredones Amarillos mine by late 2009 and the Mt. Todd mine by late 2010 or early 2011, subject to completion of definitive feasibility studies and obtaining acceptable financing arrangements.
“In the past we acquired properties with proven mineralization and added value through exploration to build our resource and reserve base,” says Vista Gold’s CEO Michael Richings. “Now we are focused on moving our properties to feasibility and positive production decisions.”
Please refer to in this web site. “Cautionary Note Regarding Forward-Looking Statements”
(Dollars Referenced are U.S. dollars)
Company Profile
Since 2001, Vista has acquired a number of gold projects with the expectation that higher gold prices would significantly increase their value. Vista is undertaking programs to advance the Paredones Amarillos Project, including the preparation of a definitive feasibility study and the purchase of long delivery equipment items, so that construction can begin during the second half of 2008. The results of a preliminary assessment completed in 2007 on the Mt. Todd Project in Australia were encouraging and additional technical studies are underway with a definitive feasibility study planned for completion by mid-2009. Vista’s other holdings include the Guadalupe de los Reyes Project in Mexico, Yellow Pine Project in Idaho, Awak Mas Project in Indonesia, and Long Valley Project in California. These six properties host 10.3 million ounces of measured and indicated gold resources and 3.9 million ounces of inferred gold resources.
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Vista Gold Reports Progress on Advancing its Paredones Amarillos Project to Production
Vista Gold Corp. is undertaking a definitive feasibility study for its Paredones Amarillos Project, as previously reported, that will examine potential development scenarios in the range of 130,000 - 150,000 ounces of gold production per year from the gold resources at the project. Vista intends to publish regular updates on technical and economic changes and progress during the development of the Paredones Amarillos Project. As part of the feasibility study, Vista’s consultants have been considering alternative processing flow sheets. Preliminary studies by Vista proposed the use of flotation and leaching of the flotation concentrate, while earlier extensive evaluation and design work had been completed by Echo Bay Mines on whole-ore leach using carbon-in-pulp gold recovery. Vista intends to focus its development efforts now on the whole-ore leach process, because of the estimated lower capital and operating costs when compared to the flotation process, potentially higher gold recovery, better equipment compatibility with the used mill equipment Vista is purchasing (see press releases of January 2 and 7, 2008) and the fact that Echo Bay Mines had completed essentially all permitting associated with this process alternative. Vista’s managing technical consultant for the definitive feasibility study, SRK Consulting (US), Inc. of Lakewood, Colorado, has updated operating and capital cost estimates based on preliminary estimates prepared by the consultants retained to complete the definitive feasibility study. The updated estimates incorporate actual prices for a substantial portion of the mill equipment and budget prices for mine equipment. The cost estimates are based in part on information found in the report filed under Vista Gold Corp. on SEDAR: “Updated Technical Report, Paredones Amarillos Project, Baja California Sur, Mexico”, dated June 20, 2007, prepared under the direction of Mr. Neil Prenn, an independent qualified person.
The cost estimates assume an open pit mine and whole-ore leach processing with estimated metallurgical recovery of 91.5% to produce an average annual gold production of 117,000 ounces of gold per year over its 12.4-year life. The preproduction capital and preproduction development costs for the project using the whole-ore leach process are estimated to be approximately $169.1 million and the operating costs are estimated to be approximately $12.53 per tonne of ore processed, which represents an increase in the amounts previously disclosed in the Vista’s press release dated June 21, 2007. Work on the project is still ongoing and as a result, the estimated preproduction and estimated operating costs may change as further work is conducted.
Fred Earnest, President and COO, commented, “The updated capital and operating cost estimates reported today reflect the results of significant work completed by the consultants retained to complete the definitive feasibility study for the Paredones Amarillos Project. While that study is not expected to be completed until the beginning of the third quarter of this year, we are satisfied that these estimates reflect current costs of materials, supplies and labor and the work constitutes a comprehensive analysis of the estimated project costs. The analysis incorporates actual costs for the mill equipment the Corporation has purchased and budgetary costs for the mining fleet. With these cost estimates completed, considerable work is in progress to optimize the mine plans, production rates and to achieve improvements in other areas.”
Vista Gold Corp. completed spinning off its large Nevada property portfolio in May 2007 through a plan of arrangement to achieve two goals – earning market recognition of the Company’s mineral assets, and effecting a strategic change in its business model that could result in the Company becoming a mid-tier gold producer in the relatively near future. This level of production is predicated upon the successful achievement of its plans to construct and commission the Paredones Amarillos mine by late 2009 and the Mt. Todd mine by late 2010 or early 2011, subject to completion of definitive feasibility studies and obtaining acceptable financing arrangements.
“In the past we acquired properties with proven mineralization and added value through exploration to build our resource and reserve base,” says Vista Gold’s CEO Michael Richings. “Now we are focused on moving our properties to feasibility and positive production decisions.”
Please refer to in this web site. “Cautionary Note Regarding Forward-Looking Statements”
(Dollars Referenced are U.S. dollars)
Company Profile
Since 2001, Vista has acquired a number of gold projects with the expectation that higher gold prices would significantly increase their value. Vista is undertaking programs to advance the Paredones Amarillos Project, including the preparation of a definitive feasibility study and the purchase of long delivery equipment items, so that construction can begin during the second half of 2008. The results of a preliminary assessment completed in 2007 on the Mt. Todd Project in Australia were encouraging and additional technical studies are underway with a definitive feasibility study planned for completion by mid-2009. Vista’s other holdings include the Guadalupe de los Reyes Project in Mexico, Yellow Pine Project in Idaho, Awak Mas Project in Indonesia, and Long Valley Project in California. These six properties host 10.3 million ounces of measured and indicated gold resources and 3.9 million ounces of inferred gold resources.Contact Us
VISTA GOLD CORP.
Executive Office
Suite 5 7961 Shaffer Parkway Littleton, Colorado USA 80127
Tel: (720) 981-1185 Fax: (720) 981-1186
1 - 866 - 981 - 1185