Vista Gold Corp. Announces a Proposed U.S. $3.4 Million Private Placement
Vista Gold Corp. (AMEX: VGZ) Toronto plans to undertake a private placement financing, subject to shareholder and regulatory approvals, in which it will raise gross proceeds of U.S. $3.4 million from the sale of 1.4 million special warrants, each priced at U.S. $2.42, which will automatically convert into equity units upon shareholder approval of the issuance of the securities comprising the equity units. Each equity unit will consist of one common share and a warrant, exercisable over a four-year period, to purchase one common share for U.S. $3.14 during the first year, U.S. $3.56 during the second year, U.S. $3.92 during the third year and U.S. $4.28 during the fourth year. Starting on the second anniversary of the closing of this private placement, if the common shares of the Corporation trade at a value of 150% or more of the respective exercise price (i.e. 150% of U.S. $3.92 before the third anniversary, and 150% of U.S. $4.28 before the fourth anniversary) for a period of 15 consecutive trading days on the American Stock Exchange, then the Corporation has the option to request that the warrants be exercised. If the warrants are not exercised within 15 business days following this request, they will be cancelled. A placement agent will earn a 10% cash finder's commission in connection with the private placement.
The Corporation anticipates requesting shareholders' approval at a Special Shareholders' Meeting before the end of February, 2003. If the transaction is completed, the proceeds will be used to evaluate and acquire additional gold projects, to further explore and improve its existing gold projects, and for general corporate purposes.
The securities described above have not been registered under the Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
Vista Gold Corp. is an international gold mining, development and exploration company based in Littleton, Colorado. Its holdings include the Paredones Amarillos project in Mexico; the Hycroft mine, Maverick Springs and Mountain View projects in Nevada; and the Amayapampa project in Bolivia.
The statements that are not historical facts are forward-looking statements involving known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described from time to time in the Corporation's periodic reports, including the annual report on Form 10-KSB, as amended, filed with the U.S. Securities and Exchange Commission. The Corporation assumes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.
For further information, please contact Jock McGregor or Jack Engele at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com
SOURCE: Vista Gold Corp.
CONTACT: Jock McGregor or Jack Engele, of Vista Gold Corp.,
+1-720-981-1185
Web site: http://www.vistagold.com/
Vista Gold Corp. Announces Completion of Previously Announced U.S. $2.3 Million Private Placement
Vista Gold Corp. (Amex: VGZ; TSX) is pleased to announce that it completed its previously announced private placement financing in which it raised net proceeds of U.S. $2.3 million, from the sale of 1 million units priced at U.S. $2.35 per unit. The Corporation plans to use the proceeds to acquire additional gold projects.
The securities issued in this private placement have not been registered under the Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
Vista Gold Corp. is an international gold mining, development and exploration company based in Littleton, Colorado. Its holdings include the Paredones Amarillos project in Mexico; the Hycroft mine, Maverick Springs and Mountain View projects in Nevada; and the Amayapampa project in Bolivia.
The statements that are not historical facts are forward-looking statements involving known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described from time to time in the Corporation's periodic reports, including the annual report on Form 10-KSB, as amended, filed with the U.S. Securities and Exchange Commission. The Corporation assumes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.
For further information, please contact Jock McGregor or Jack Engele at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com .
SOURCE: Vista Gold Corp.
CONTACT: Jock McGregor or Jack Engele, both of Vista Gold Corp.,
+1-720-981-1185
Web site: http://www.vistagold.com/
Vista Gold Corp. Announces a U.S. $2.3 Million Private Placement
Vista Gold Corp. (AMEX: VGZ) Toronto is also pleased to announce that it has arranged a private placement financing in which it will raise net proceeds of U.S. $2.3 million from the sale of 1 million units priced at U.S. $2.35 per unit, based on a 15% discount to the five-day weighted average price of the Corporation's common shares on the TSX, adjusted to U.S. $, prior to the completion of the subscription agreement in early December. Each unit consists of one common share and a warrant, exercisable over a two-year period, to purchase one common share for U.S. $3.04 during the first year and U.S. $3.45 during the second year. 574,467 units have been issued for net proceeds of U.S. $1.3 million; issuance of the remaining 425,533 units and receipt of U.S. $1.0 million is expected before December 31, 2002. The Corporation will use the U.S. $2.3 million to acquire additional gold projects.
The securities described above have not been registered under the Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
Vista Gold Corp. is an international gold mining, development and exploration company based in Littleton, Colorado. Its holdings include the Paredones Amarillos project in Mexico; the Hycroft mine, Maverick Springs and Mountain View projects in Nevada; and the Amayapampa project in Bolivia.
The statements that are not historical facts are forward-looking statements involving known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described from time to time in the Corporation's periodic reports, including the annual report on Form 10-KSB, as amended, filed with the U.S. Securities and Exchange Commission. The Corporation assumes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.
For further information, please contact Jock McGregor or Jack Engele at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com
SOURCE: Vista Gold Corp.
CONTACT: Jock McGregor, or Jack Engele, of Vista Gold Corp.,
+1-720-981-1185
Web site: http://www.vistagold.com/
Vista Gold Corp. Extends Mineralization at Maverick Springs Project in Nevada
Vista Gold Corp. (AMEX: VGZ) Toronto has completed a 7,020-foot drill program on its Maverick Springs project, approximately 50 miles southeast of Elko, Nevada, on the southeast extension of the Carlin trend. The program consisted of seven vertical reverse circulation holes, 500 feet to 2,200 feet from previously identified mineralization. All seven holes encountered flat-lying mineralization, predominantly oxidized to depths of up to 900 feet.
Drill Hole Results-Maverick Springs, December 2002
Drill Hole From To Thickness Gold Silver
(feet) (feet) (feet) (oz./ton) (oz./ton)
MR129 695 940 245 0.008 1.521
MR130 650 850 200 0.008 3.852
Includes 670 710 40 0.008 14.129
MR131 565 940 375 0.012 0.571
MR132 600 925 325 0.011 0.519
MR133 300 400 100 0.008 0.157
MR133 515 825 310 0.008 1.016
MR134 590 790 200 0.009 0.783
MR135 690 800 110 0.026 3.068
Includes 760 775 15 0.105 0.777
The thicknesses are considered true widths. Gold assays were full assay-ton fire assays; silver assays were atomic absorption measurements from an aqua-regia leach solution. All assays were completed by American Assay Labs in Reno, Nevada, with industry-standard QA/QC procedures. All intervals are weighted averages of five-foot samples.
The program was successful in outlining continuous mineralization in a 2,200-foot by 1,200-foot area, immediately adjacent to known gold-silver resources. With additional in-fill drilling, this newly outlined mineralization has the potential to significantly increase the resources reported in our press release of November 5, 2002.
The Maverick Springs mineralization occupies an area 6,000 feet by 2,500 feet, indicating a very large mineralized system. Higher grades in gold have been intersected in the northern-most hole, MR135; and higher silver grades were encountered in MR130, the western-most drill hole. Maverick Springs is considered a silver-rich Carlin-type system and the mineralization is from 100 to 400 feet thick. As previously announced, subject to completion of a formal agreement, Vista will grant to Silver Standard Resources Inc. (Nasdaq: SSRI; TSX Venture: SSO) an option to acquire Vista's interest in the silver resources hosted in the project.
The exploration program was designed and supervised by qualified person Warren Bates, B.Sc., P.Geo., a graduate of the University of Manitoba with a B.Sc. (Honours.) majoring in Geology (1985). He is a member of the Association of Professional Geologists of Ontario.
Vista Gold Corp. is an international gold mining, development and exploration company based in Littleton, Colorado. Its holdings include the Paredones Amarillos project in Mexico; the Hycroft mine, Maverick Springs and Mountain View projects in Nevada; and the Amayapampa project in Bolivia.
The statements that are not historical facts are forward-looking statements involving known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described from time to time in the Corporation's periodic reports, including the annual report on Form 10-KSB, as amended, filed with the U.S. Securities and Exchange Commission. The Corporation assumes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.
For further information, please contact Jock McGregor or Jack Engele at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com
SOURCE: Vista Gold Corp.
CONTACT: Jock McGregor, or Jack Engele, of Vista Gold Corp.,
+1-720-981-1185
Web site: http://www.vistagold.com/
Vista Gold Corp. Announces Option to Acquire Gold Project in California; Third Quarter Results; Director Resignation
Vista Gold Corp. (AMEX: VGZ) Toronto is pleased to announce that it has signed a letter agreement with Standard Industrial Minerals, Inc. ("Standard"), based in Bishop, California, pursuant to which Vista would pay Standard $15,000 for an option to acquire Standard's 100% interest in the Long Valley gold project in east central California for a purchase price of $750,000. Completion of a formal option agreement is subject to due diligence reviews and approval by the boards of directors of both companies.
Under the terms of the letter agreement, Vista would have a three-month exclusive due diligence period ending January 15, 2003, during which it would pay Standard $5,000 per month in satisfaction of the $15,000 option price. Completion of the $750,000 property purchase would be made over a five-year period, with annual payments to be due as follows: $100,000 due on each of January 15, 2003, 2004, and 2005; $200,000 due on January 15, 2006, and $250,000 due on January 15, 2007. Vista would retain the right to terminate the agreement at any time.
During the due diligence period, Vista will complete customary geological, legal and environmental due diligence reviews.
With respect to third quarter results, the Corporation reported a third quarter loss of $0.4 million ($0.06 per share) compared to a loss of $0.6 million ($0.14 per share) in the third quarter of 2001. The improvement was principally a result of cost reductions at the Hycroft mine and the Amayapampa project. The year-to-date loss was $1.3 million ($0.21 per share) compared to a loss of $1.8 million ($0.39 per share) for the same period in 2001. At the end of the third quarter, the Corporation had $1.3 million in working capital and no debt.
The Corporation also announces that Mr. A. Murray Sinclair has resigned from the Board of Directors as of October 24, 2002 due to time demands from other responsibilities. The Corporation wishes to express appreciation for Mr. Sinclair's efforts and important contributions to the recent successes of the Corporation.
Vista Gold Corp. is an international gold mining, development and exploration company based in Littleton, Colorado. Its holdings include the Paredones Amarillos project in Mexico; the Hycroft mine, Maverick Springs and Mountain View projects in Nevada; and the Amayapampa project in Bolivia.
The statements that are not historical facts are forward-looking statements involving known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described from time to time in the Corporation's periodic reports, including the annual report on Form 10-KSB, as amended, filed with the U.S. Securities and Exchange Commission. The Corporation assumes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.
For further information, please contact Jock McGregor or Jack Engele at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com .
SOURCE: Vista Gold Corp.
CONTACT: Jock McGregor or Jack Engele, both of Vista Gold Corp.,
+1-720-981-1185
Web site: http://www.vistagold.com/
Vista Gold Corp. Announces Letter of Intent to Grant Option on Silver Resources at Maverick Springs Project in Nevada
Vista Gold Corp. (AMEX: VGZ) Toronto is pleased to announce that it has signed a non-binding letter of intent to grant to Silver Standard Resources Inc. (NASDAQ: SSRI) (TSX Venture: SSO) an option to acquire Vista's interest in the silver resources hosted in the Maverick Springs project in Nevada. Vista will retain its 100% interest in the gold resources. Completion of the transaction is subject to regulatory approvals, and negotiation and execution of a definitive agreement, with closing expected in December. The Maverick Springs project is one of two Nevada projects that Vista acquired from Newmont USA Limited, a subsidiary of Newmont Mining Corporation (NYSE: NEM)(ASX: NEM) (TSE: NMC), in October 2002, as previously announced. The agreement with Silver Standard will be subject to the terms of the purchase agreement between Newmont and Vista.
Under the proposed agreement, Silver Standard will pay Vista U.S. $1.5 million over four years including a payment of U.S. $300,000 at closing. The remaining U.S. $1.2 million will be used to fund exploration programs, land holding costs and option payments. Silver Standard and Vista will form a committee through which they will jointly manage exploration of the Maverick Springs project. Vista will be the operator and have a 45% vote on the committee, Silver Standard will have a 55% vote. After Silver Standard has completed its U.S. $1.5 million in payments to Vista, costs will be shared by the two corporations on the same ratio as established for operation of the management committee: Vista -- 45% / Silver Standard -- 55%, subject to standard dilution provisions.
"This is a win-win situation in the truest sense," said Jock McGregor President and CEO of Vista Gold Corp., "Vista retains the gold resources and has a strong partner to fund exploration over the next four years, which we expect will add additional gold resources at no cost to us. In return, Silver Standard gains a significant silver resource. This kind of synergy maximizes the value of the Maverick Springs deposit."
Vista Gold Corp. is an international gold mining, development and exploration company based in Littleton, Colorado. Its holdings include the Paredones Amarillos project in Mexico; the Hycroft mine, Maverick Springs and Mountain View projects in Nevada; and the Amayapampa project in Bolivia.
The statements that are not historical facts are forward-looking statements involving known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described from time to time in the Corporation's periodic reports, including the annual report on Form 10-KSB, as amended, filed with the U.S. Securities and Exchange Commission. The Corporation assumes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.
For further information, please contact Jock McGregor or Jack Engele at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com
SOURCE: Vista Gold Corp.
CONTACT: Jock McGregor or Jack Engele of Vista Gold Corp.,
+1-720-981-1185
Web site: http://www.vistagold.com/
Vista Gold Corp. Announces Completion of the Technical Study on Maverick Springs and Mountain View Projects
Vista Gold Corp. (AMEX: VGZ) Toronto is pleased to announce that independent technical studies of the Maverick Springs and Mountain View gold projects in Nevada have been completed by Snowden Mining Industry Consultants of Vancouver, British Columbia and the related technical reports, in compliance with Canadian National Instrument 43-101, have been completed. Vista Gold Corp. recently acquired these projects from Newmont Mining Corporation (NYSE: NEM)(ASX: NEM) (TSE: NMC) as announced October 8th.
Geological resources as of October 24, 2002 above a 0.005 ounces per ton cut-off for gold at the Maverick Springs project are:
Gold
Tons (000's) Grade Contained
(o.p.t.) Ounces
Indicated resources (1) 29,181 0.012 350,000
Inferred resources (2) 67,905 0.011 747,000
Geological resources as of October 24, 2002 above a 0.50 ounces per ton cut-off for silver at the Maverick Springs project are:
Silver
Tons (000's) Grade Contained
(o.p.t.) Ounces
Indicated resources (1) 27,391 1.18 32,321,000
Inferred resources (2) 56,840 1.21 68,776,000
Geological resources as of November 4, 2002 above a 0.006 ounces per ton cut-off for gold at the Mountain View project are:
Gold
Tons (000's) Grade Contained
(o.p.t.) Ounces
Indicated resources (1) 23,219 0.013 298,000
Inferred resources (2) 4,466 0.039 175,000
"I am delighted that the technical review of these projects has confirmed our initial estimates, and we are optimistic that the drill program, which is currently underway at Maverick Springs, will further add to these resources," said Jock McGregor, President and CEO. "At a cost of about $1 per ounce of gold resource, these projects represent very good value for our shareholders. In addition, discussions are currently underway to realize additional value from the Maverick Springs silver resources."
Vista Gold Corp. is an international gold mining, development and exploration company based in Littleton Colorado. Its holdings include the Paredones Amarillos project in Mexico, the Hycroft mine, the Maverick Springs and the Mountain View projects in Nevada, the Amayapampa project in Bolivia, and exploration projects in North and South America.
(1) Cautionary Note to U.S. Investors concerning estimates of Indicated Resources: This table uses the term "indicated resources." We advise U.S. investors that while this term is recognized and required by Canadian regulations, the U.S. Securities and Exchange Commission does not recognize it. U.S. investors are cautioned not to assume that any part or all of mineral deposits in this category will ever be converted into reserves.
(2) Cautionary Note to U.S. Investors concerning estimates of Inferred Resources: This table uses the terms "inferred resources." We advise U.S. investors that while this term is recognized and required by Canadian regulations, the U.S. Securities and Exchange Commission does not recognize it. "Inferred resources" have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of a feasibility or other economic study. U.S. investors are cautioned not to assume that any part or all of an inferred resource exists or is economically or legally minable.
The statements that are not historical facts are forward-looking statements involving known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described from time to time in the Corporation's periodic reports, including the annual report on Form 10-KSB, as amended, filed with the U.S. Securities and Exchange Commission. The Corporation assumes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.
For further information, please contact Jock McGregor or Jack Engele at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com
SOURCE: Vista Gold Corp.
CONTACT: Jock McGregor or Jack Engele, both of Vista Gold Corp.,
+1-720-981-1185
Web site: http://www.vistagold.com/
Vista Gold Corp. Announces Completion of Acquisition of Newmont Projects
Vista Gold Corp. (AMEX: VGZ) Toronto is pleased to announce that it has completed the acquisition of a 100% interest in two Nevada gold projects, Maverick Springs and Mountain View, from Newmont Mining Corporation (NYSE: NEM)(ASX: NEM) (TSE: NMC), as previously announced September 3, 2002.
The Corporation has engaged Snowden Mining Consultants of Vancouver, British Columbia to complete an independent technical study and report in compliance with Canadian National Instrument 43-101, for each of the projects. The technical report will be finalized by the end of the month. Preliminary data indicate that both projects have existing resources and offer excellent potential to add to both the quality and quantity of these resources with additional drilling. Maverick Springs also has significant silver values which will be evaluated.
The Corporation plans an initial 7,000 foot drilling program on the Maverick Springs project scheduled to start mid-October.
Vista Gold Corp. is an international gold mining, development and exploration company based in Littleton Colorado. Its holdings include the Paredones Amarillos project in Mexico; the Hycroft mine, Maverick Springs and Mountain View projects in Nevada; and the Amayapampa project in Bolivia.
The statements that are not historical facts are forward-looking statements involving known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described from time to time in the Corporation's periodic reports, including the annual report on Form 10-KSB, as amended, filed with the U.S. Securities and Exchange Commission. The Corporation assumes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.
For further information, please contact Jock McGregor or Jack Engele at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com .
SOURCE: Vista Gold Corp.
CONTACT: Jock McGregor, or Jack Engele, both for Vista Gold Corp.,
+1-720-981-1185
Web site: http://www.vistagold.com/
Vista Gold Form S-3 Registration Statement Declared Effective; Convertible Debentures Converted Automatically Pursuant to Terms
Vista Gold Corp. (AMEX: VGZ) Toronto is pleased to announce that its Registration Statement on Form S-3 filed under the United States Securities Act of 1933 for the registration for resale of 7,999,974 common shares, including shares already issued as well as shares to be issued, all in connection with the Corporation's private placement announced January 22, 2002, has been declared effective today. As a result, all of the $2,774,000 convertible debentures issued in the second part of the private placement, the closing of which was announced March 20, 2002, will automatically be converted to common shares and warrants to purchase common shares, pursuant to the debenture terms as previously disclosed in reports including the Corporation's 2001 Annual Report on Form 10-KSB.
Of the 7,999,974 common shares registered, 1,514,617 common shares have already been issued. In addition, 2,485,370 shares will now be issued on conversion of the debentures, and 3,999,987 common shares will be reserved for the exercise of warrants, including warrants to be issued on conversion of the debentures. As disclosed in the above Registration Statement, at September 12, 2002, the Corporation had 6,370,898 common shares outstanding.
"This is important for us because, as previously announced, we now have the potential to raise as much as $6.0 million in additional capital, as investors exercise their warrants," said Jock McGregor, President and C.E.O.
The Corporation is in the process of providing each debenture holder with notice of the registration statement becoming effective, together with further instructions regarding the common shares and warrants which they will be receiving.
Vista Gold Corp. is an international gold mining, development and exploration company based in Littleton Colorado. Its holdings include the Paredones Amarillos project in Mexico, the Hycroft mine in Nevada and the Amayapampa project in Bolivia.
The statements that are not historical facts are forward-looking statements involving known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described from time to time in the Corporation's periodic reports, including the annual report on Form 10-KSB, as amended, filed with the U.S. Securities and Exchange Commission. The Corporation assumes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.
For further information, please contact Jock McGregor or Jack Engele at (720) 981-1185, or visit the Vista Gold Corp. website at http://www.vistagold.com/ .
SOURCE: Vista Gold Corp.
CONTACT: Jock McGregor or Jack Engele of Vista Gold Corp.,
+1-720-981-1185
Web site: http://www.vistagold.com/
Vista Gold Corp. Announces Letter of Intent to Acquire Newmont Projects
Vista Gold Corp. (AMEX: VGZ) Toronto is pleased to announce that it has signed a non-binding letter of intent to purchase a 100% interest in two Nevada gold projects currently controlled by Newmont Mining Corporation (NYSE: NEM)(ASX: NEM) (TSE: NMC). Completion of the transaction is subject to a due diligence review of the projects by Vista, governmental and regulatory approvals, and negotiation and execution of a definitive purchase agreement, with closing expected in October.
The first project, Maverick Springs, is a Carlin-type deposit containing both gold and silver, located near Elko, Nevada. The second project, Mountain View, is located about 40 miles west of the Corporation's Hycroft mine near Winnemucca, Nevada. Both projects have sufficient drilling completed on them to support a measured and indicated resource calculation, and an independent consultant will be commissioned to prepare a resource report in compliance with National Instrument 43-101.
Under the terms of the letter of intent, the total purchase price for both projects includes Vista assuming all of Newmont's obligations with respect to the properties, including work commitments, and paying Newmont US$1.5 million. Vista would pay Newmont $300,000 in cash and issue $700,000 in Equity Units (defined below), at closing, with pricing based on the weighted average closing price of the Corporation's common shares on the 10 trading days immediately preceding the date of the definitive purchase agreement. On the first anniversary of the closing, the Corporation would issue $500,000 in Equity Units, with pricing based on the weighted average closing price of the Corporation's common shares on the 10 trading days immediately preceding the first anniversary date. Vista Gold equity units (the "Equity Units") will consist of one common share and one warrant to purchase one common share. The warrants in both installments will have a two-year term and will be priced at 125% of the respective Equity Unit valuation. In addition, Newmont, at its option, would retain either a 1 1/2% net smelter returns royalty or the right to acquire 51% of either or both projects, after four years, by paying Vista cash equaling 200% of the expenditures made by Vista on the related property. In the latter event, Newmont would become operator of a joint venture with Vista and both parties would fund the project through to a production decision with Vista's contribution to the joint venture during this period capped at $2.0 million. As part of the transaction, Vista would also agree to complete at least 20,000 feet of drilling at the Maverick Springs project and 4,000 feet of drilling at the Mountain View project, within two years of closing. Vista would also grant Newmont a right of first refusal with respect to subsequent sale of the projects by Vista.
"I am very excited about these acquisitions for several reasons," said Jock McGregor President and CEO, "these are high quality assets as demonstrated by the fact that Newmont insisted on maintaining a 'back-in' provision and we look forward to developing them to their full potential. In addition, the nature of our agreement will encourage a long-term working relationship with Newmont which will be facilitated by the fact that we are both Denver-based companies. Finally, I am delighted that Newmont, the world's largest gold producer, has decided to take an equity position in our company and become a Vista Gold shareholder."
Vista Gold Corp. is an international gold mining, development and exploration company based in Littleton Colorado. Its holdings include the Paredones Amarillos project in Mexico, the Hycroft mine in Nevada and the Amayapampa project in Bolivia.
The statements that are not historical facts are forward-looking statements involving known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described from time to time in the Corporation's periodic reports, including the annual report on Form 10-KSB, as amended, filed with the U.S. Securities and Exchange Commission. The Corporation assumes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.
For further information, please contact Jock McGregor or Jack Engele at (720) 981-1185, or visit the Vista Gold Corp. website at http://www.vistagold.com/ .
SOURCE: Vista Gold Corp.
CONTACT: Jock McGregor or Jack Engele, both of Vista Gold Corp.,
+1-720-981-1185
Web site: http://www.vistagold.com/
Vista Gold Corp. Announces Completion of the Paredones Amarillos Gold Project Acquisition; Engagement of Financial Adviser
Vista Gold Corp. (AMEX: VGZ) Toronto is pleased to announce that it has completed the acquisition of the Paredones Amarillos gold project, located in Baja California Sur, Mexico, previously announced in its press release dated July 23, 2002.
Based on an independent technical report prepared by Snowden Mining Industry Consultants of Vancouver, British Columbia in compliance with Canadian National Instrument 43-101, the geological gold resources above a 0.5 grams per tonne cut-off at the Paredones Amarillos project are:
Tonnes Grade Ounces
(000's) (g/tonne) of Gold
(000's)
Measured resources 11,498 1.17 431
Indicated resources 44,170 1.02 1,451
Total measured and indicated resources* 55,668 1.05 1,882
Inferred resources 5,495 0.79 140
* Total measured and indicated resources above a 0.25 g/tonne cut-off is
87,822 tonnes grading 0.800 g/tonne for a total of 2,250 ounces of
gold.
"The closing of this acquisition at around US$1.00 an ounce is an excellent first step in our pursuit of quality gold resources," said Jock McGregor, President and CEO. "We will now focus on identifying ways to improve the economics of this project to create additional value, and we also look forward to further acquisitions, as opportunities arise."
Vista is also pleased to announce that it has engaged Endeavour Financial Corporation Inc. ("Endeavour") as financial advisor to assist the Corporation in executing its strategy of creating shareholder value through the acquisition of quality gold resources. Subject to regulatory approval, Endeavour's fees of $10,000 per month will be payable in common shares priced at Cdn $5.62, being the weighted average closing price of the Corporation's common shares for the 10 trading days immediately prior to the signing of its agreement with Endeavour. Under this agreement, other fees will be payable to Endeavour, in common shares, contingent upon the execution and close of gold property transactions.
"Endeavour's reputation in mining circles and depth of experience in evaluating and negotiating complex transactions complements our own strengths," said Jock McGregor, President and CEO. "Endeavour, has offices in Grand Cayman, London, Toronto & Vancouver and this will give Vista additional exposure to attract quality resources and quality investors. I am also very pleased that Endeavour has endorsed our business strategy and will become a Vista shareholder at this exciting time."
Vista Gold Corp. is an international gold mining, development and exploration company based in Littleton Colorado. Its holdings include the Paredones Amarillos project in Mexico, the Hycroft mine in Nevada, the Amayapampa project in Bolivia, and exploration projects in North and South America.
The statements that are not historical facts are forward-looking statements involving known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described from time to time in the Corporation's periodic reports, including the annual report on Form 10-KSB, as amended, filed with the U.S. Securities and Exchange Commission. The Corporation assumes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.
For further information, please contact Jock McGregor or Jack Engele at (720) 981-1185, or visit the Vista Gold Corp. website at http://www.vistagold.com/
SOURCE: Vista Gold Corp.
CONTACT: Jock McGregor or Jack Engele of Vista Gold Corp.,
+1-720-981-1185
Web site: http://www.vistagold.com/
Vista Gold Corp. Announces Completion of Due Diligence On the Paredones Amarillos Gold Project
Vista Gold Corp. (AMEX: VGZ) Toronto is pleased to announce that it has completed the due diligence review of the Paredones Amarillos gold project, located in Baja California Sur, Mexico. Consequently the Corporation and Viceroy Resource Corporation (Viceroy) have signed a binding agreement for Vista's purchase of the 100% interest in the project held by Viceroy; the terms of the purchase are substantially as announced in the Corporation's related press release May 29, 2002. Completion of the transaction is subject to governmental and regulatory approvals, and execution of a definitive purchase agreement. The transaction is expected to close in August 2002.
As part of the due diligence review, an independent consultant, Snowden Mining Industry Consultants of Vancouver, British Columbia was commissioned to recalculate the gold resources and prepare a technical report in compliance with Canadian National Instrument 43-101. Their report is currently being finalized but the recalculated measured and indicated resource is substantially the same as the resource reported previously.
"We look forward to closing this transaction shortly and moving on to the acquisition of additional resources," said Jock McGregor, President and CEO. "The previously announced share consolidation has been completed and I am pleased that the share price has stabilized and established a solid base from which we can grow. Recent uncertainties in the stock market have focused attention on the gold sector, which has led to some impressive short term gains. We believe, however, that we will be able to sustain long term growth in shareholder value by building a quality resource base."
Vista Gold Corp. is an international gold mining, development and exploration company based in Littleton Colorado. Its holdings include the Hycroft mine in Nevada, the Amayapampa project in Bolivia, and exploration projects in North and South America.
The statements that are not historical facts are forward-looking statements involving known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described from time to time in the Corporation's periodic reports, including the annual report on Form 10-KSB, as amended, filed with the U.S. Securities and Exchange Commission. The Corporation assumes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.
For further information, please contact Jock McGregor or Jack Engele at (720) 981-1185, or visit the Vista Gold Corp. website at http://www.vistagold.com/ .
SOURCE: Vista Gold Corp.
CONTACT: Jock McGregor, or Jack Engele, both of Vista Gold Corp.,
+1-720-981-1185
Web site: http://www.vistagold.com/
Vista Gold Corp. Announces Date for Share Consolidation
Vista Gold Corp. (AMEX: VGZ) Toronto announces that with respect to the consolidation of the Corporation's issued and outstanding common shares on a one for 20 basis, trading of the Corporation's common shares on a post-consolidation basis will commence at the start of trading on June 19, 2002, at both the Toronto Stock Exchange and the American Stock Exchange. Written instructions setting out the procedures for shareholders to surrender their existing common share certificates in exchange for new common share certificates have today been sent to registered shareholders.
Vista Gold Corp. is an international gold mining, development and exploration company based in Littleton Colorado. Its holdings include the Hycroft mine in Nevada, the Amayapampa project in Bolivia, and exploration projects in North and South America.
The statements that are not historical facts are forward-looking statements involving known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described from time to time in the Corporation's periodic reports, including the annual report on Form 10-K, as amended, filed with the U.S. Securities and Exchange Commission. The Corporation assumes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.
For further information, please contact: Jock McGregor, or Jack Engele at (720) 981-1185, or visit the Vista Gold Corp. website at http://www.vistagold.com/
SOURCE: Vista Gold Corp.
CONTACT: Jock McGregor, or Jack Engele, both of Vista Gold Corp.,
+1-720-981-1185
Web site: http://www.vistagold.com/
Vista Gold Corp. Announces Letter of Intent to Acquire The Paredones Amarillos Gold Project
Vista Gold Corp. (AMEX: VGZ)(TSE: VGZ) is pleased to announce that it has signed a non-binding letter of intent to purchase the 100% interest held by Viceroy Resource Corporation (Viceroy) in the Paredones Amarillos gold project on the Baja Peninsula, Mexico. Completion of the transaction is subject to completion of a due diligence review of the project by Vista, governmental and regulatory approvals, and negotiation and execution of a definitive purchase agreement.
The total purchase price of Cdn $3 million (approximately U.S. $2 million), will be payable 50% in cash, with Cdn $1.0 million due at closing and Cdn $0.5 million due one year from closing, and 50% in Vista Gold equity units (the "Equity Units") consisting of one common share and one warrant to purchase one common share. The price of the Equity Units will be 90% of the weighted average closing price of the Corporation's common shares on the five trading days immediately preceding the date of the definitive purchase agreement. The warrants will be priced at 125% of the weighted average closing price of the Corporation's common shares on the five trading days immediately preceding the date of the definitive purchase agreement.
Based on a resource estimate provided by Viceroy (Ronald G. Simpson, H.B.Sc., P. Geo., consulting geologist, Qualified Person) the Paredones Amarillos project contains measured and indicated resources of 54.3 million tonnes grading 1.054 grams per tonne gold, containing 1.84 million ounces of gold. The drilling database contains 302 drill holes comprising 62,525 meters of drilling. As part of its due diligence, the Corporation will commission an independent resource study to restate the Paredones Amarillos resources in compliance with National Instrument 43-101.
"Following the closing of the private placement financing that was announced on March 20, 2002, we have moved quickly to begin the execution of our stated plan to build Vista Gold into the premier option-play on gold. The acquisition of this quality gold resource is an important first step. The acquisition of Paredones Amarillos would effectively double the size of the Corporation's available gold resources, and with an acquisition cost just over U.S. $1 per ounce of gold resource, it represents significant value for our shareholders," said Jock McGregor, President and Chief Executive Officer.
Vista Gold Corp. is an international gold mining, development and exploration company based in Littleton Colorado. Its holdings include the Hycroft mine in Nevada, the Amayapampa project in Bolivia, and exploration projects in North and South America.
The statements that are not historical facts are forward-looking statements involving known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described from time to time in the Corporation's periodic reports, including the annual report on Form 10-K, as amended, filed with the U.S. Securities and Exchange Commission. The Corporation assumes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.
For further information, please contact Jock McGregor or Jack Engele at (720) 981-1185, or visit the Vista Gold Corp. website at http://www.vistagold.com/
SOURCE: Vista Gold Corp.
CONTACT: Jock McGregor or Jack Engele of Vista Gold Corp.,
+1-720-981-1185
Web site: http://www.vistagold.com/
Lawsuit Against Vista Gold Corp. Dismissed; Timing of Share Consolidation
Vista Gold Corp. (AMEX: VGZ)(TSE: VGZ) is pleased to announce the dismissal of the United States Fidelity & Guarantee Company ("USF&G") lawsuit as described in the Corporation's press release of January 22, 2002 and in the Corporation's 2001 Form 10-KSB. Settlement and dismissal of this lawsuit, which comprised a payment of U.S.$791,433.82 to the United States Department of the Interior, Bureau of Land Management, in order to fulfill USF&G's surety obligation relative to the Mineral Ridge mine reclamation bond, was a requirement of the Corporation's previously announced private placement. As a result of the dismissal of this lawsuit, the U.S.$2,774,000 proceeds from the private placement of convertible debentures, the closing of which was announced on March 20, 2002, has been released from escrow to the Corporation.
While Vista maintains that it's liability with respect to the USF&G lawsuit was limited, it was a major impediment to Vista's efforts to attract new investment. "The negotiation to settle with USF&G was a business decision," said Jock McGregor, President and CEO, "and it proved to be a catalyst for the U.S.$2.8 million private placement. The Corporation is now well positioned to take advantage of rising investor interest in gold, and with our solid asset base, build the Corporation into the premier option-play on gold."
With respect to the previously announced consolidation of the Corporation's issued and outstanding common shares on a one for 20 basis, management expects that written instructions setting out the procedures for shareholders to surrender their existing common share certificates in exchange for new common share certificates will be sent to registered shareholders later this month and that, subject to regulatory approval, trading of the Corporation's common shares on a post-consolidation basis will commence in early June 2002.
Vista Gold Corp. is an international gold mining, development and exploration company based in Littleton, Colorado. Its holdings include the Hycroft mine in Nevada, the Amayapampa project in Bolivia, and exploration projects in North and South America.
The statements that are not historical facts are forward-looking statements involving known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described from time to time in the Corporation's periodic reports, including the annual report on Form 10-K, as amended, filed with the U.S. Securities and Exchange Commission. The Corporation assumes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.
For further information, please contact Jock McGregor or Jack Engele at (720) 981-1185, or visit the Vista Gold Corp. website at http://www.vistagold.com/
SOURCE: Vista Gold Corp.
Contact: Jock McGregor, or Jack Engele, both of Vista Gold Corp.,
+1-720-981-1185
Website: http://www.vistagold.com/
Vista Gold Corp. Announces Results of Annual General Shareholders' Meeting And First Quarter Results
Vista Gold Corp. (AMEX: VGZ)(TSE: VGZ) is pleased to announce that at the Annual and Special General Shareholders' Meeting of the Corporation on April 26, 2002 the shareholders of the Corporation voted in favor of:
i) The issuance of 21,600,000 common share purchase warrants in
connection with the first step of the previously announced private
placement to Stockscape.com Technologies Inc. (the "Unit Offering").
Each warrant entitles the holder to purchase one common share of the
Corporation at U.S.$0.075 until February 1, 2007.
ii) The issuance of convertible debentures in an aggregate principal
amount of U.S.$2,774,000 to various investors (the "Debenture
Offering") and the issuance of 4,325,925 special warrants to Global
Resource Investments Ltd., in connection with the second step of the
previously announced private placement. The debentures are
convertible into units at a price of U.S.$0.0513 per unit, each unit
consisting of one common share and one common share purchase warrant
entitling the holder to purchase one common share at a price of
U.S.$0.075 per share until March 18, 2007. The debentures bear
interest at a rate of 1% per annum and will mature on
September 20, 2003 unless they are converted or otherwise become due
and payable prior to that date.
iii) The consolidation of all of the Corporation's issued and outstanding
common shares on the basis of every twenty issued and outstanding
common shares without par value being consolidated into one common
share without par value. The Corporation will issue a separate
press release confirming the timing for completing the
consolidation.
In addition, John M. Clark, Ronald J. McGregor, C. Thomas Ogryzlo, Michael B. Richings and A. Murray Sinclair were re-elected to the Corporation's Board of Directors.
Following the shareholders' meeting, the debenture holders nominated, and the Corporation's Board of Directors appointed Robert Quartermain to the Corporation's Board of Directors. Mr. Quartermain is the President and Chief Executive Officer of Silver Standard Resources Inc.
"The overwhelming approval by the shareholders of the private placement is very gratifying," said Jock McGregor, President and Chief Executive Officer. "We now have the funding necessary to lead the Corporation into an exciting new era. We will be aggressively pursuing opportunities to acquire properties where we see potential to add value with our in-house expertise."
With regard to the results for the first quarter, the Corporation announced a U.S.$0.5 million net loss for the three months ending March 31, 2002 similar to the U.S.$0.5 million net loss reported in the same period in 2001. The Corporation had U.S.$3.3 million in working capital as at March 31, 2002, U.S.$2.8 million of which was cash in escrow pending the dismissal of the USF&G lawsuit as previously disclosed.
Vista Gold Corp. is an international gold mining, development and exploration company based in Littleton, Colorado. Its holdings include the Hycroft mine in Nevada, the Amayapampa project in Bolivia, and exploration projects in North and South America.
The statements that are not historical facts are forward-looking statements involving known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described in the Corporation Form 10-K as amended. For further information, please contact Jock McGregor or Jack Engele at (720) 981-1185, or visit the Vista Gold Corp. website at http://www.vistagold.com/ .
SOURCE: Vista Gold Corp.
Contact: Jock McGregor or Jack Engele, both of Vista Gold Corp.,
+1-720-981-1185
Website: http://www.vistagold.com/
Vista Gold Corp. Announces Closing of Final Tranche Of Previously Announced Private Placement
Vista Gold Corp. (AMEX: VGZ) Toronto is pleased to announce the closing of the second and final tranche of the private placement announced January 22, 2002. This tranche consisted of convertible debentures ("Debentures") in the total principal amount of U.S.$2,774,000 issued to various investors. The Corporation also issued 4,325,925 special warrants (the "Agent's Special Warrants") to Global Resource Investments Ltd. as consideration for its services as agent in connection with the Debenture Offering.
The gross proceeds raised by the issuance of the Debentures have been placed in escrow subject to shareholder approval at the Annual and Special General Meeting which will be held on April 26, 2002, and also subject to the dismissal of the United States Fidelity & Guarantee Company ("USF&G") lawsuit as described in the Corporation's press release of January 22, 2002 and in the Corporation's 2001 Forms 10-Q. In addition, if shareholders approve the Debenture Offering, management expects that the Debentureholders will nominate a person to be appointed as a director of the Corporation.
Subject to shareholder approval and dismissal of the USF&G lawsuit, the Debentures are convertible into units (the "Debenture Units") at a price of U.S.$0.0513 per Debenture Unit, with each Debenture Unit consisting of one Common Share and one Warrant which will entitle the holder to purchase one Common Share at a price of U.S.$0.075 per share on or before March 18, 2007. The Debentures bear interest at a rate of 1% per annum and will mature on September 19, 2003, unless they are converted or otherwise become due and payable prior to that date. The Agent's Special Warrants, also subject to shareholder approval, are convertible into 4,325,925 units, with each unit consisting of one Common Share and one Warrant with the same terms as the Debenture Units.
"The closing of the final part of the private placement brings us one step closer to having the funds available to meet our working capital needs and to acquire additional gold resources," said Jock McGregor, President and Chief Executive Officer. "In the current market we believe the best way to add value for the shareholders is to increase our resource base primarily by focusing on projects where we see an opportunity to add value using our in-house technical expertise."
Vista Gold Corp. is an international gold mining, development and exploration company based in Littleton Colorado. Its holdings include the Hycroft mine in Nevada, the Amayapampa project in Bolivia, and exploration projects in North and South America.
The statements that are not historical facts are forward-looking statements involving known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described from time to time in the Corporation's periodic reports, including the annual report on Form 10-K, as amended, filed with the U.S. Securities and Exchange Commission. The Corporation assumes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.
For further information, please contact Jock McGregor or Jack Engele at (720) 981-1185, or visit the Vista Gold Corp. website at http://www.vistagold.com/
SOURCE: Vista Gold Corp.
Contact: Jock McGregor or Jack Engele, both of Vista Gold Corp.,
+1-720-981-1185
Website: http://www.vistagold.com/
Vista Gold Corp. Announces the Closing of the First Tranche Of the Previously Announced Private Placement
Vista Gold Corp. (AMEX: VGZ) Toronto is pleased to announce that it has today closed the first tranche of the private placement announced January 22, 2002. Stockscape.com Technologies Inc. ("Stockscape") has subscribed for the entire 20 million units priced at US $0.0513, for a total of US $1.026 million dollars. Each unit consists of one common share and one warrant that will entitle Stockscape to acquire one common share at an exercise price of US $0.075 for a period of five years from the date of issue. The warrants will only be convertible to common shares following shareholder approval, which will be sought at the next Annual General Meeting in April. An 8.0% commission is payable to the agent, Global Resource Investments Ltd., in the form of units.
In connection with this private placement, Mr. A. Murray Sinclair, a director of Stockscape, will be appointed to Vista's Board of Directors at the next meeting of the Board in February. Mr. Sinclair is a Partner of Quest Management Corp. (a private management company) and of Quest Ventures Ltd., (a private merchant banking company).
The second tranche of the private placement is expected to close on or before March 20, 2002.
Vista Gold Corp. is an international gold mining, development and exploration company based in Littleton Colorado. Its holdings include the Hycroft mine in Nevada, the Amayapampa project in Bolivia, and exploration projects in North and South America.
The statements that are not historical facts are forward-looking statements involving known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described in the Corporation Form 10-K as amended.
For further information, please contact Jock McGregor or Jack Engele at (720) 981-1185, or visit the Vista Gold Corp. website at http://www.vistagold.com/ .
SOURCE: Vista Gold Corp.
Contact: Jock McGregor or Jack Engele, both of Vista Gold Corp.,
+1-720-981-1185
Website: http://stockscape.com/
Website: http://www.vistagold.com/
Vista Gold Corp. Announces a US $3.5 Million Private Placement
Vista Gold Corp. (AMEX: VGZ) Toronto is pleased to announce that it is finalizing an agency agreement for a private placement financing of US $3.5 million to be arranged by Global Resource Investment Ltd. (Global) of Carlsbad, California. This private placement, which is subject to regulatory and shareholder approval, will be effected in two tranches. The first will consist of the placement of 20 million units to raise US $1.03 million dollars. Each unit will consist of one common share priced at US $0.0513 and one warrant that will entitle the holder to acquire one common share at an exercise price of US $0.075 for a period of five years from the date of issue. The warrants will only be convertible to common shares following shareholder approval, which is expected to be sought at the next Annual General Meeting in April.
The second tranche of the private placement will consist of a US $2.47 million debenture, carrying a 1.0% per annum interest rate, with the full amount repayable in 18 months. Pending shareholder and regulatory approval, the debenture will be convertible into units with the same per share and warrant pricing as the first tranche.
Shareholders will also be asked to approve a 1 for 20 share consolidation, which will have the effect of re-pricing the units issued on the debenture conversion to US $1.03 and the warrant exercise price to US$1.50. The Corporation has undertaken to register the potential resale of shares issued in this private placement with the U.S. Securities and Exchange Commission.
An 8.0% commission is payable to Global in the form of units. The net proceeds from the placement are estimated to be US $3.4 million. The US $2.47 million proceeds from the issuance of the debenture will be held in escrow pending shareholder approval and will be used to fully repay the debenture in the event shareholder approval is not obtained.
If the transactions are completed, the Corporation plans to use the proceeds from the financing to evaluate, acquire and enhance mining properties with gold reserves, and to hold these properties in anticipation of higher gold prices. Approximately US $814,000 will be used to settle an outstanding claim of US $902,819. The claim against Vista, Stockscape.com Technologies, Inc. and other defendants by United States Fidelity & Guarantee Company, is disclosed in the Corporation's quarterly report on Form 10-Q. Although Vista believes its liability with respect to the claim is limited, the potential cost of the protracted litigation makes settlement of the suit very advantageous at this time.
Vista Gold Corp. is an international gold mining, development and exploration company based in Littleton Colorado. Its holdings include the Hycroft mine in Nevada, the Amayapampa project in Bolivia, and exploration projects in North and South America.
The statements that are not historical facts are forward-looking statements involving known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described in the Corporation Form 10-K as amended.
For further information, please contact Jock McGregor or Jack Engele at (720) 981-1185, or visit the Vista Gold Corp. website at http://www.vistagold.com/
SOURCE: Vista Gold Corp.
Contact: Jock McGregor or Jack Engele of Vista Gold Corp.,
+1-720-981-1185
Website: http://www.vistagold.com/
