Vista Gold Corp. (NYSE American and TSX: VGZ) (“Vista” or the “Company”) is pleased to announce that its wholly-owned subsidiary, Vista Gold Australia Pty. Ltd. (“Vista Australia”) has received the third and final instalment payment of $10 million (“Final Instalment”) under the royalty agreement between Vista Australia and Wheaton Precious Metals (Cayman) Co., an affiliate of Wheaton Precious Metals Corp. (“Wheaton”) dated December 13, 2023 (“Royalty Agreement”), in relation to the Company’s Mt Todd gold project (“Mt Todd” or the “Project”) located in Northern Territory, Australia. All dollar amounts in this news release are in US dollars.
The Final Instalment is part of the $20 million royalty with Wheaton, which will be used to advance Mt Todd and for general corporate purposes. Receipt of the Final Instalment followed satisfaction of certain conditions precedent to this instalment, which included the commencement by Vista Australia of a designated drilling program at Mt Todd and other customary conditions, representations, and warranties. The principal terms of the Royalty Agreement are as described in the Company’s news release dated December 14, 2023. See News Release.
About Vista Gold Corp.
Vista is a gold project developer. The Company’s flagship asset is Mt Todd, located in the mining friendly jurisdiction of Northern Territory, Australia. Situated approximately 250 km southeast of Darwin, Mt Todd is one of the largest development stage opportunities in Australia and demonstrates compelling economics. All major environmental and operating permits necessary to initiate development of Mt Todd are in place.
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.
