Northern Territory, Australia
Vista’s 100% owned Mt Todd gold project1 is positioned to be one of Australia’s largest and lowest cost new gold producers. Located in Northern Territory, Australia (approximately 250 kilometers southeast of Darwin), Mt Todd contains more than 7.6 million ounces gold resources (measured and indicated categories) with significant deposit and district exploration expansion potential.
Since acquiring the project in 2006 and completing a preliminary feasibility study in 2013, Vista has obtained approval of the Northern Territory environmental impact statement, satisfied all requirements for the federal environmental authorization (final approval expected early 2018), and completed metallurgical testing/process area optimizations to reduce capital/operating costs and improve gold production. These improvements together with the current gold price, and foreign exchange rate will be reflected in an updated preliminary feasibility study expected in the first quarter of 2018.
Mt Todd is a “brownfield development” project with significant existing infrastructure 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 fresh water reservoir, tailings impoundment facility, and readily available labor and technical personnel. These factors, coupled with the considerable amount of feasibility-level engineering already completed, provide an outstanding platform from which to launch the completion of a final feasibility study and position the project for expedited development.
Given the scale, attractive location and anticipated production/cost profile of the project, the Company is evaluating all options, including seeking a suitable partner to help develop the project, to improve shareholder value and minimize future shareholder dilution.
1 We must offer the Jawoyn Aboriginal Association Corporation or JAAC (the freehold owners of the surface land) the opportunity to establish a joint venture with Vista holding 90% and the JAAC holding a 10% participating interest in the Mt Todd gold project. In addition, the JAAC will be entitled to an annual cash payment, or payment in kind, equal to 1% of the value of the annual gold production from the current Mining Licenses, and a 1% NSR on other metals, subject to a minimum payment of A$50,000 per year