8 Aug 2016material agreement● Neutral
Vista issued the warrants tied to the August 2016 financing, exercisable at US$1.92 a share through 2019.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
3 Aug 2016material agreement● NeutralMajor
After an 18-month quiet stretch during the gold downturn, Vista raised about US$15 million in a bought-deal unit offering to keep funding Mt Todd.
19 Mar 2015asset acquisition disposition● NeutralMajor
The sale closed, cutting Vista's Midas Gold stake to about 5.5% and leaving Mt Todd as its only real remaining strategic focus alongside a shrinking portfolio of non-core interests.
2 Mar 2015material agreement● NeutralMajor
Vista arranged to sell another 8 million Midas Gold shares for up to Cdn$3.68 million, which would shrink its Midas stake from 11.2% to about 5.5% as gold prices stayed weak.
2 Feb 2015material agreement▼ BadMajor
RPG Structured Finance renegotiated the Los Cardones debt deal a third time, cutting the amount it ultimately owes Vista from US$6 million to US$3 million in exchange for removing its right to walk away from the payment - Vista taking a discount for certainty.
31 July 2014material agreement● Neutral
RPG Structured Finance again pushed back the final Los Cardones debt payment, this time to January 2015, paying Vista another US$250,000 to do so.
23 June 2014auditor change● Neutral
Vista changed auditors again, from PwC Denver to EKS&H, as part of a cost-cutting drive; no disagreements were involved.
17 Apr 2014material agreement● NeutralMajor
Vista optioned its non-core Guadalupe de los Reyes gold-silver project in Mexico to junior miner Cangold, which can earn up to 100% by paying up to US$8 million over several years, shedding another asset outside its Mt Todd focus.
3 Mar 2014resource reserve update▲ Good
Vista's Mt Todd development agreement with the Northern Territory government was extended a further three years to December 2018, and the company reported progress on environmental approvals and an updated Quigleys satellite-deposit resource.
21 Feb 2014asset acquisition disposition● Neutral
Vista refiled its Midas sale announcement after the press release exhibit was inadvertently left out of the original filing; no new information was disclosed.
21 Feb 2014asset acquisition disposition▲ GoodMajor
Vista completed the sale of 16 million Midas Gold shares for gross proceeds of Cdn$12.8 million (about US$11.6 million). Pro forma, about US$5.0 million went to repay debt, leaving about US$1.5 million, and Vista held 12.4% of Midas.
7 Feb 2014material agreement● NeutralMajor
Vista arranged to sell 16 million of its Midas Gold Corp shares for up to Cdn$12.8 million, which would cut its Midas stake from 24.9% to about 12.4%.
4 Feb 2014material agreement● Neutral
The buyer of Vista's Los Cardones debt, RPG Structured Finance, got Vista to push back its final US$6 million payment from January to July 2014, paying Vista an extra US$250,000 for the delay.
14 Nov 2013capital raising announcement● Neutral
The company formally closed that loan extension, executing the share pledge agreement putting its Midas Gold Corp. shares up as collateral for the Sprott facility.
24 Oct 2013asset acquisition disposition▲ GoodMajor
The Los Cardones sale closed: Invecture took the project company outright and RPG Structured Finance bought the associated intercompany debt, together paying Vista US$13 million and ending the 2012 earn-in arrangement with Invecture.
8 Oct 2013material agreement▲ GoodMajor
Vista agreed to sell its Los Cardones gold project in Mexico (the former Concordia earn-in ground) to Invecture Group for US$13 million, using roughly half the proceeds to pay down its Sprott Resource Lending term loan, as it shed non-core assets to preserve cash for Mt Todd and its Midas Gold stake.
26 Sept 2013capital raising announcement▼ BadMajor
Vista extended its C$10 million Sprott loan from March 2014 to March 2015 at the same 8% rate, paying a 3.5% extension fee in 486,382 shares. The amendment also gave Sprott a first-priority pledge over the Midas Gold shares held by Vista and Vista US, plus a Vista US guarantee.
5 July 2013resource reserve update● Neutral
Vista filed the formal technical report behind the May 2013 Mt Todd feasibility study.
31 May 2013resource reserve update▲ GoodMajor
A new preliminary feasibility study raised Mt Todd's reserves 44% to 5.9 million ounces of gold and laid out two development options - a bigger 50,000-tonne-per-day project or a smaller, higher-grade 33,000-tonne-per-day alternative.
2 Apr 2013capital raising announcement● NeutralMajor
Vista entered a new C$10 million credit facility with Sprott Resource Lending Partnership at 8% interest, maturing March 2014, to help fund continued development of Mt Todd and Guadalupe de los Reyes plus general working capital.
7 Mar 2013resource reserve update▲ Good
A preliminary economic assessment showed Vista's Guadalupe de los Reyes project in Mexico could be a modest, profitable standalone mine (US$57.3 million after-tax NPV), but Vista said it would keep spending on the project to a minimum for the rest of 2013 to focus on Mt Todd.
13 Feb 2013drilling result▲ Good
Vista reported assays from the final ten 2012 Batman holes at Mt. Todd and the first Snowdrop exploration hole, which found no significant ore-grade mineralization though further drilling was considered warranted. It expected a modest increase in measured and indicated resources from converting inferred resources.
21 Dec 2012material agreement● Neutral
Vista formalized the warrant terms - exercisable at $3.30 per share over two years - tied to the December 2012 unit offering.
14 Dec 2012material agreement● NeutralMajor
Vista raised roughly US$10 million in a public offering of shares and warrants at US$2.75 per unit, its fourth equity raise since 2010 to keep Mt Todd and its other projects funded.
11 Dec 2012resource reserve update● Neutral
Vista also filed the technical report supporting its Guadalupe de los Reyes resource estimate in Mexico.
11 Dec 2012resource reserve update● Neutral
Vista filed the formal NI 43-101 technical report backing the September 2012 Mt Todd resource increase.
23 Oct 2012resource reserve update● NeutralMajor
Vista settled on a two-phase build for Mt Todd - a smaller 30,000-tonne-per-day first stage expandable to 45,000 tonnes per day - to cut initial capital costs, and rescheduled its feasibility work into a preliminary study due Q1 2013 followed by a full feasibility study in Q2.
3 Oct 2012capital raising announcement● Neutral
Another scheduled reminder to warrant holders that the exercise price on the 2010 warrants was stepping up again, from $4.00 to $4.50 per share.
7 Sept 2012resource reserve update▲ GoodMajor
An updated resource estimate grew the Batman deposit at Mt Todd to just over 7 million ounces of gold measured and indicated, up 17% from a year earlier and 37% above the original 2011 feasibility study.
22 Aug 2012capital raising announcement● Neutral
This amended filing gives the formal details of the $15 million private placement that closed on July 27, 2012: 5,000,000 units, each with one share and a half-warrant, with full warrants letting holders buy a share at US$3.60 until July 27, 2014. It also discloses 166,667 compensation warrants (exercisable at US$3.18) issued to agents and finders, and $500,000 in cash commissions; proceeds are earmarked for Mt Todd studies, drilling and water treatment, plus general corporate purposes. It adds the warrant indenture with Computershare as an exhibit and confirms the raise announced in June, so future share issuance is possible if the warrants are exercised.