13 Aug 2012drilling result▲ Good
The last batch of a 48-hole drilling program at Guadalupe de los Reyes in Mexico returned more high-grade gold-silver intercepts, feeding into a resource update and economic assessment due later in the year.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
1 Aug 2012capital raising announcement▲ GoodMajor
That private placement closed, raising the full $15 million.
12 July 2012drilling result▲ Good
More drilling results from the ongoing Mt Todd resource-conversion program continued to support the case for a larger project.
28 June 2012capital raising announcement● Neutral
Vista announced a new private placement to raise up to $15 million by selling up to 5 million units at $3.00 each.
What it means for a shareholder
5.0m new shares at US$3.00 to raise about US$15.0m. That's 6.5% dilution: every existing holder's slice gets 6.5% smaller. If you held US$1,000 of shares (333 at the issue price), your slice goes from 0.000465% to 0.000434% of the company. To keep it you'd need 23 more shares - about US$69 at the issue price.
Create a free account to see this worked out for your own holding.
7 June 2012resource reserve update● NeutralMajor
Vista enlarged the planned Mt Todd plant to 40,000-45,000 tonnes per day to capture its growing resource, pushing the feasibility study back again to late 2012 or early 2013.
5 June 2012auditor change● Neutral
Vista switched auditors from PwC's Vancouver office to PwC Denver as it moved to US GAAP reporting and consolidated around its Colorado headquarters; no disputes were involved.
3 Apr 2012resource reserve update● Neutral
Vista delayed the Mt. Todd feasibility study to around the middle of the second quarter of 2012 because final process facility capital and operating costs took longer than expected. It also reported more high-grade Guadalupe de los Reyes drill results and said the Mt. Todd resource update would come in the third quarter.
14 Mar 2012resource reserve update▲ GoodMajor
Encouraged by continued high-grade drill results at depth, Vista decided to study an even larger Mt Todd operation and began building a project team in Australia to develop it.
29 Feb 2012resource reserve update▲ Good
Drilling at the Guadalupe de los Reyes gold-silver project in Mexico returned high-grade hits, including 12.15 g/t gold and 738 g/t silver, and Vista hired Tetra Tech to run a preliminary economic assessment on the project.
13 Feb 2012material agreement● NeutralMajor
Vista granted Mexico-based Invecture Group an earn-in right to a 60% interest in DZ Mexico, which holds the Concordia gold project, for a non-refundable US$2.0 million. Exercise requires Invecture to fund the project, obtain permits and pay a further US$20 million.
24 Oct 2011resource reserve update● Neutral
Vista filed the formal technical report backing up its enlarged Batman resource estimate with Canadian regulators.
30 Sept 2011capital raising announcement● Neutral
The company reminded warrant holders from its 2010 financing that the exercise price was about to step up from $3.50 to $4.00 per share under the warrants' scheduled pricing tiers.
9 Sept 2011resource reserve update▲ GoodMajor
New drilling pushed the Batman deposit's estimated gold resource to nearly 6 million ounces measured and indicated, up 17% from a year earlier, as Vista worked toward a bigger definitive feasibility study.
16 June 2011farm in farm out agreement● NeutralMajor
Vista let its Indonesian joint-venture partner, Pan Asia Resources, earn up to a further 20% of the Awak Mas gold project on top of the 60% it was already earning, in exchange for more cash, shares and drilling.
12 Apr 2011material agreement● NeutralMajor
Vista agreed with GMP Securities and Wellington West to sell 9,000,000 common shares on a bought-deal basis at C$3.30 each, for gross proceeds of C$29.7 million, with a 15% over-allotment option for the underwriters.
8 Apr 2011capital raising announcement▲ GoodMajor
Vista closed the combination of its Yellow Pine (Idaho) holdings with Midas Gold's adjoining Stibnite-district claims, forming a new company, Midas Gold Corp.; a concurrent C$15.3 million private placement (Vista put in an extra C$3.5 million) left Vista holding about 37% of the new company.
4 Mar 2011capital raising announcement● Neutral
Warrants from the October 2010 financing began trading on the Toronto Stock Exchange, and the company corrected an earlier press release that had understated the special warrants and compensation warrants issued to its placement agents.
4 Mar 2011resource reserve update▲ GoodMajor
Vista and Midas Gold's Hangar Flats and West End deposits were to be combined with Yellow Pine into the Golden Meadows project, with about 3.95 million ounces measured and indicated and 2.4 million inferred. Vista would own 35% of the new Midas Gold Corp. once the deal closed.
11 Feb 2011resource reserve update▲ Good
Vista disclosed that its 2006 development agreement with the Northern Territory government - under which the government holds site rehabilitation liability until Vista gets its permits - had been extended for another five years, and filed the full January 2011 feasibility study.
4 Jan 2011resource reserve update▲ GoodMajor
A new feasibility study more than doubled Mt Todd's estimated reserves to 4.1 million ounces of gold and outlined a bigger 30,000-tonne-per-day mine, a major step up from the August 2010 study.
28 Oct 2010capital raising announcement▲ GoodMajor
The private placement closed, raising $33.7 million; proceeds were earmarked to repurchase $23 million of 10% senior secured convertible notes coming due in March 2011, advance Mt Todd, and fund general corporate needs.
15 Oct 2010capital raising announcement● Neutral
The company added a second placement agent and, subject to exchange approval, upsized the financing to up to $33.8 million.
6 Oct 2010material agreement● NeutralMajor
Vista signed agency and finder agreements for a proposed private placement of 13,043,479 special warrants at US$2.30 each, for gross proceeds of about US$30 million. The sale was on a best-efforts basis, with proceeds held in escrow pending shareholder approval.
1 Oct 2010capital raising announcement● Neutral
Vista Gold announced plans for a private placement of up to $30 million, selling up to 13 million special warrants at $2.30 each, subject to shareholder and regulatory approval.
9 Sept 2010resource reserve update▲ Good
Vista also identified a smaller satellite deposit, Quigleys, near Batman, with an initial resource of about 456,000 ounces of gold.
20 Aug 2010resource reserve update▲ GoodMajor
Vista announced a preliminary feasibility study for the Batman deposit at its wholly owned Mt Todd project in Australia. It estimated proven and probable reserves of 2 million ounces of gold.
1 July 2010resource reserve update▲ Good
Vista announced the discovery of a new exploration target on the exploration tenements around its Mt. Todd gold project in Australia. It also updated progress on Batman drilling and said the Mt. Todd pre-feasibility study was nearing completion.