Vista Gold Corp. (AMEX:VGZ) Q1 2024 Earnings Call Transcript May 7, 2024

Vista Gold Corp. isn't one of the 30 most popular stocks among hedge funds at the end of the third quarter (see the details here).

Operator: Good day, ladies and gentlemen. Welcome to Vista Gold's First Quarter 2024 Financial Results and Corporate Update Conference Call. [Operator Instructions] As a reminder, this conference is being recorded. Today is Tuesday, May 7, 2024. It's now my pleasure to introduce Pamela Solly, Vice President of Investor Relations. Please go ahead.

Pamela Solly: Thank you, Andrew, and good afternoon, everyone. Thank you for joining the Vista Gold Corp. First Quarter 2024 Financial Results and Corporate Update Conference Call. I'm Pamela Solly, Vice President of Investor Relations. On the call today is Fred Earnest, President and Chief Executive Officer; and Doug Tobler, Chief Financial Officer. During the course of this call and the question-and-answer session, we will be making forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements of Vista to be materially different from results, performance or achievements expressed or implied by such statements. Please refer to our most recently filed Form 10-Q for details of risks and other important factors that could cause actual results to differ materially from those in our forward-looking statements and the cautionary note regarding estimates of mineral resources and mineral reserves.

I will now turn the call over to Fred Earnest.

Fred Earnest: Thank you, Pam, and thank you to everyone for joining us on the call today. We've had a strong start to the year, and I'm pleased to talk about a few highlights today. During the first quarter, we received the second installment payment of $7 million under the $20 million royalty transaction with Wheaton Precious Metals. We updated the Mt Todd feasibility study to reflect current estimates of material capital and operating cost components. We commenced a drilling program targeting shallow gold resources at the north end of the Batman deposit and published our inaugural environmental, social and governance report. We note that during the quarter, W. Durand (Randy) Eppler, a long-serving member of our Board passed away.

We recognize his many contributions to the Board and the company. In February, Mr. Mike Sylvestre was appointed to take Mr. Eppler's place on the board. On April 30, we hosted our Annual General and Special Meeting of the Shareholders where Patrick Keenan was elected as a new director and member of our Board. Pat has more than 30 years of executive mining industry experience and was most recently Executive Vice President and Chief Financial Officer of PolyMet Mining Corp. Our focus in 2024 is on strengthening our balance sheet, advancing evaluations of an initially smaller scale Mt Todd project with the option for subsequent staged expansion, continuing our work with CIBC Capital Markets to maximize shareholder value, and successfully executing health, safety and environmental initiatives.

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To continue reading the Q&A session, please click here.