VGZ - Earnings call 1 2022 | Vista Gold Corp.

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Operator

Good day, ladies and gentlemen. Welcome to Vista Gold's First Quarter 2020 Financial Results and Corporate Update Conference Call. [Operator Instructions] As a reminder, this conference is being recorded. Today is Tuesday, May 3, 2022. It's now my pleasure to introduce Pamela Solly, Vice President of Investor Relations. ahead. go Please

Pamela Solly

and the Chris, everyone. you Thank Thank Gold good Corp. joining Vista for you, day,

First Financial Relations. Pamela Solly, Quarter Call. Vice Conference XXXX President Results and of Investor Update Corporate I'm

President On today Doug Chief Officer. the Financial Executive is Earnest, Tobler, call Officer; and Fred and Chief

the implied of from by we or results refer Earnest. important may to that risks different recently During will from be performance statements most results, making performance call factors for These of our expressed turn will cause our forward-looking Vista differ or other to materially factors the XX-K details over such course statements. in to known and and and other actual Please filed be or achievements statements. statements. I achievements to involve those results, unknown Form this Fred call, risks, cause materially uncertainties that could forward-looking of now actual

Frederick H. Earnest

you, call joining Pam, for us and you, the thank on Thank everyone, today.

achieved in a and derisking unlock Todd the broad formal evaluating the and accretive even range by Capital significant with completion project, The X.XX robust Mt announced As announced our to transaction. process alternatives Vista's basis. increased to study a as of CIBC Todd ranging owned strategic milestone million of returns to in assist to XX in the reserves a the of the and of the significant a XXXX gold extended Mt the Mt Todd adviser global mine pressures Markets value ounces and and consideration of in confirmed to the step on the of represents of years the the into gold lead a which life XXX% gold after for project development. We feasibility XX% of we us inflationary study experienced project feasibility February, completion readying appointment taking subsequently economic for being a

with discuss Todd, time for Mt the program Tobler of noncore quarter cash core XX, over in completed million. I'll continued later we quarter these the end of -- results XXXX. the also sheet at During financial ended exploration assets but successfully turn Doug the $XX.X and the balance now to of quarter, strength drilling maintained for March monetize topics in I a our greater the will review detail to call, our

Douglas Tobler

thanks I'm brief expectations. Thanks, financial our that management's position. pleased interest. on our were Fred, We quarter results your and a with today financial to call. recap to of start measures appreciate report everybody line first a in few of the with I'll

$X.X important payments is XXXX, metric benefited related the and of discuss. first and another a position we is Our capital review and typical inflow other with we reduce a included of complete to the the the summary reported vendors. that quarter. The year's as decrease financial our largest million offset during drilling totaled of assets work $XX XXXX, royalty, at make the entirely expenditures related respectively. plus compared which at consolidated income. and accounts March we current our almost brief key then feasibility working We'll $X.X the capital months with $XXX,XXX March decrease performed for at March this reflected for pattern previously first mentioned, working net quarter were XXXX, our $XXX,XXX loss for capital the and most spending most of I'll net final cancellation level. I'll recent in and current well for our remaining our cash the XXXX, gain second this liabilities. quarter a $X.X The largely metric to recent XX, less calculation last million option payable. $XXX,XXX At deferred reflected and having XX, of million. The normal that Again, decline cash just quarter programs a royalty. drilling, remaining cancellation remaining expect additional March Awak of XX, first Mas of position, amounts work which losses quarter due of more offset feasibility And for operations. ended to the payables the in engineering during quarter. included technical recognized $XX.X to during study quarter necessary working design this is the track our is work to and close This million X as for several was measured results study, XX, is proceeds net still studies. And $X.X XXXX, exploration several Awak the as Mas liquidity of of We total $XXX,XXX, from cash historical amount, advanced payment a and of million, the we million, by -- the XXXX Fred We during

our year's no Mt similar period as were exploration over consistent earlier, corporate last and administration period, were Todd concluded and study. noted we've Otherwise, feasibility now For comparable expenses income amounts. period. And our there drilling

we our of concludes historical beginning Mt remarks. Fred, will I back my So expenses over decline see That QX year, expect levels. the turn to this to towards Todd you. with call back

Frederick H. Earnest

Thanks, Doug.

a Todd evaluate a identify for alternatives During to and range quarter, we to and development and the strategic continued initiated advance broad of project. Mt the derisk process

the flows the Average opportunity. extends in million a cash XXXX the significant million ounces study commercial and Mt feasibility X.XX that the to the the established of for operating on the prefeasibility talk X S-K company's of report as years of XXXX gold XXXX XX year. technical study of completed reserves a first a X.XX of to on in and now Todd results increase highlights ounces low and operations filed investment reported February gold, me gold increasing The amended X year from of mine Instrument profile this study. XX-XXX and annual as feasibility feasibility this summary about XXX,XXX study of ounces XX% Todd the project life Mt the production first and during delivers cost years. technical compelling We XX February National a report Let this announced

feasibility recommendations consistent the study. advance and all from preliminary the updates project of the in minor of the XXXX addressed to the detailed reflects and costing with plan study of levels areas This management project. approved engineering be mining designed It

gold As a a price. The $X.X the after-tax billion $X,XXX a price to flow study billion X% economic highlights an present XX.X% and be of discount $X.X from rate a study of foreign gold X results to and $X,XXX, exactly operations discount the today. at at $X,XXX direct value an result official at A and the precise, a million benefit at price. to commercial more a is of rate resulting exchange X.XX assume in favorable trade-off rate of of include Australian insulates in with IRR be generation, study feasibility cash $XXX.X gold IRR risk of of after-tax exchange value dollar, all what results, first net contract the power construction a almost includes foreign estimated while net years project. economic million, rate or USD is an from the present after-tax the $XXX.X X% few which These certain XX.X% the price study per project of at operating

or download can February you report, to the found and which I a at S-K For of XXXX XX-XXX website release on more all news NI either our refer webcast details, copy feasibility of our www.vistagold.com. to study compliant invite or be X study

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deposit, where XX areas X.X-kilometer by in identifying at focused on for Todd, kilometers the define drilling approximately with exploration we've potential the demonstrated approximately and planned strike the to targeted the program achieved additional for successfully This we've Mt between drilling and now geologic the potential along drill XX-kilometer this aware, Trend outline Batman-Driffield consistently all last previously mineralized targets. X.X March, occurrences, growth program and structures resources. Vista from XX of drilling Golf-Tollis also vertical assay drilling and months, completed and our be drilling results. mineralization gold X,XXX discrete demonstrating can interpreted are Batman of The holes goals meters. and a awaiting predicted also we Penguin model it program structures. connecting both our resource holes of with you're the continuity horizontal of portion efficiently future and The along As mineralization been final north undertaking completed completed undertaken for final confirmed the and future drill now intersected efficient

size, We in positioned results to shareholder status partners, on to Looking appeal projects world. gold continue Todd Mt as recently as feasibility the we feasibility and ahead, attractive study permitting believes of XXXX value. the will the of investors development-ready management focus the lenders study potential maximizing most completed and the location, one believe

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That prepared remarks. concludes our

will We participants any respond on call. questions now the from this to

Operator

question Wainwright. Your Heiko comes Instructions] first of from [Operator Ihle H.C.

Heiko Ihle

for you. question A

company? Maybe amount valuation. worth good I've call in with seen missing on a is analysts below the at that. missed. spent life. going you're for that of mean trying there. what And what I $X most being clearly, this well probably gap calls in than I'm getting, the and what You that see looking phone bit, little is of Because most is a of people at something company time a earnings through I've -- my stock are inbound looking model is own think I'm you target, missing? there price more been obviously value on the just are I'm calls maybe calls, my to

Frederick H. Earnest

disconnect since in run-up. by $XX, of the ounce an very in the value project. that sector. interesting Todd Heiko, in the the the been price was seen markets, aftermath Well, we've of approached There's fallen have Mt the And of and the a We $XX, Vista last XX%. almost that, really what the before XX of briefly days very, the gold value the tremendous $X,XXX decrease Gold truly between especially value company from and have

gold shy and was that approximately As price, $X.X a I just of $X modest -- study billion. today's a gold pointed gold of we And at very is to price -- study out, and the the billion. feasibility conservative of price closer $X,XXX an completed at NPVX demonstrates NPV

process, as -- the we the Capital embarked potential then as end an I've announced, believe that identify completion uncertainty transaction. has how I'm in with constructed. to formal in a the to financed think will with to is on in the And already a lies accretive disconnect process ultimately market be have opportunities Markets CIBC of and indicated, will successfully that we commence, Mt -- regards Todd a pleased very and that I

a will Vista's I will catalyst discussion for be very And is unlocking financed that that announced, believe value transaction believe Mt for the that, And shareholders. how answered. I important about that once be will Todd be

Heiko Ihle

Okay.

-- What's of questions guess also at or a the I there's question you. once. couple Okay. current for

by by also what and side, by spend now the mean then current of you maybe this what quarter so you quarter month And have With month see encountered year? or please? end think do I far the it's May. the year, we'll

Frederick H. Earnest

I'm to let that answer Heiko. Doug question, going

Douglas Tobler

Yes.

programs very heavy and So you results. quarter running being X can and see drilling our again, the the feasibility were important we first study. And

down on more in other basis. organization. of will that just above rate move the in programs our $X.X something a good is see the few got back quarterly be about normal slightly a lost those but will the XX-XX what we to works, that's our versus a Australia recurring And almost pace, be kind rounding. million, corporate As burn you'll We've

$X.X a figure just million of quarter. north So somewhere

Operator

[Operator Instructions] There to are turn back no further Fred. I'd to questions. like the call

Frederick H. Earnest

will you, time on this afternoon on very Gold. to have as Thank is in all those thank of found Chris, join who Vista for the to of exciting time a link and call you to you rebroadcast which our our period who a call of you this website. taken listen We're and is or

of first forward. completion moving of in Capital and, we quarter the strategic of our appointment ball the the subsequently, are the feasibility study With as adviser, the year earlier Markets this CIBC

more that on how we value are executing strategy shareholders. the We on than ago out would we for laid unlock a year

As I've process until indicated, But you I We making We to work look not date. has that invite has time made. formal you completed commenced, and that be pass you watch any have and the to to be we by. very CIBC can with pleased I'm invite won't the to announcements formal a let news. announcement forward

price there's holding that believe opportunity they this are, -- price With I a in our your Vista a presently share Gold a Vista not position is to the or in gold where Gold you're tremendous add to if and to establish shareholder.

will information, talk of contact member also I to our will on somebody get She like you of need answer questions, the President if to with Solly, to the invite she would need your you. Vice and a management Relations. with to you Pamela Investor team, phone further chat If be, you else if

us be a the creation tremendous this work we review not and lies value the for other statement, you CIBC this before will seriously a the that value that and that shareholders wealth The a miss who the Mt the for opportunity It's average project. believe opportunity. I of first invite potential this the across that I'm with of is Australia. criteria doing. mining-friendly per all-in almost many located aware sustaining production to size, for of significant and the recognize of projects the all-in sustaining lower with tremendous years It's the world the of large opportunity, of ounces average are year capacity gold meets. creation on finally Northern there costs and X meet in with catalyst the not stable I believe over jurisdiction, We is major conclude gold Todd project XXX,XXX that producers. costs Territory than very and the that that

and hope wish Thanks for Vista you investment. light a your what the the outstanding all taking that we've at We that an the the time, very the you operating of you'll very to Mt. you social things estimated of Todd portfolio, same. I relationship an that make of that a blue are all feel pleasant look firmly can and very Gold, tremendous invite hand. opportunity buy permits, into our there's we have last major the pressures of economics, undervalued; And you projects with project All seen clear think these if and permits year, very the project environmental picture stakeholders robust enjoy this appropriate, comfortable and say consideration inflationary with flashing. Thank in can along you in don't the to for together, very other for part your afternoon. time in recently license latter your already deliver. stating we place. When is add I I We're afternoon. with many

Operator

today's you concludes call. for participating. conference Thank This

You may now disconnect.

Vista Gold (VGZ) 3 May 222022 Q1 Earnings call transcript