Vista Gold Releases Feasibility Study Delivering 7 Million Ounce Gold Reserve
It anticipates an average annual life of mine production of 395,000 oz, including average annual production of 479,000 oz of gold during the first seven years of commercial operations, with a mine life of 16 years.
“The FS affirms the strength of Mount Todd’s gold production capacity and ability to deliver solid economic results at a time when inflationary pressures are having significant impacts on operating mines and development projects alike,” Vista President and CEO Frederick H. Earnest said. “Completion of the FS represents another major step in derisking Mount Todd and readying the project for development.”
In addition to securing the approval of the Mining Management Plan since the last technical report, the company has modernized the agreement with the Jawoyn Aboriginal Association Corp. “We continue to enjoy a close working relationship and their strong support for the project,” Earnest said. “The economic returns reflect the increased royalty to the Jawoyn (in lieu of the previous right to a 10% direct project ownership) as reported in November 2020.”