Northern Territory, Australia
Vista’s 100% owned Mt Todd gold project is one of the largest and most advanced undeveloped gold projects in Australia with measured and indicated gold resources totaling more than 7.8 million ounces with significant deposit and district exploration expansion potential. The Company’s 2022 feasibility study reported 6.98 million ounces of proven and probable reserves (280.4 million tonnes with an average grade of 0.77 g Au/t at a cut-off grade of 0.35 g Au/t).
Vista has retained CIBC Capital Markets as its strategic advisor to seek a partner or other form of transaction to maximize shareholder value from the Mt Todd gold project. The process is ongoing and management believes the completion of an acceptable transaction may be dependent on sustained improvement and stability in the economy and capital markets.
In 2023, Vista completed an internal scoping study that evaluated the technical and economic merits of smaller-scale alternatives. The results were promising and contemplate significantly lower initial capital costs for a smaller-scale project, while preserving the opportunity for subsequent staged development.
Mt Todd is located approximately 250 kilometers southeast of Darwin in Northern Territory, Australia (the “NT”), which was globally ranked by the Fraser Institute in the 2022 Mining Survey.
Investment Attractiveness Index
2nd – Australia and Oceania; 6th worldwide
Best Practices Mineral Potential Index
6th – worldwide
The NT Government is currently considering recommendations to update the current royalty regime to make it more competitive with other Tier 1 mining jurisdictions. This represents a very meaningful opportunity for improved project economics and earlier shareholder returns at Mt Todd.
Mt Todd is advanced and de-risked. Vista has eliminated most of the project development risk by receiving the approvals for all major environmental permits and the Mine Management Plan (operating permit), completing advanced metallurgical testing and optimization work, and completing the Mt Todd feasibility study.
Mt Todd is a “brownfield development” project with significant existing infrastructure (with current replacement value of approximately $130 million) including: paved access from the major transportation corridor, a natural gas pipeline to site for future power generation, medium-tension power lines for present power needs, a freshwater reservoir, tailings impoundment facility, and readily available labor and technical personnel. These factors, coupled with the scale, attractive location, and anticipated production/cost profile of the project, place Mt Todd on a short list of one of the most attractive, well-advanced development-stage gold projects in the world.
Vista is committed to the sustainable and socially responsible development of Mt Todd. Our vision is to create a positive impact on our environment, society, and economy while delivering outstanding results for our stakeholders. With this in mind, we have set our focus on embedding sustainability and social responsibility at the core of every decision and action we take.