Vista Gold Corp. (NYSEAMERICAN:VGZ) is one of the biggest gainers in the pre-market session on monday as investors are reacting positively to the company’s significant milestone.
Major Trigger:
Vista Gold Corp. Achieves Significant Milestone with Approval of the Final Major Authorization for Mt Todd
Key Highlights:
- announce it has received approval of the Mining Management Plan (“MMP”) by the Northern Territory (“NT”) Government for the Company’s 100% owned Mt Todd gold project (“Mt Todd” or the “Project”) located in Northern Territory, Australia.
- The MMP (similar to a mine operating permit in North America) is the final major authorization required for the development of the Mt Todd mine. The receipt of this approval marks the achievement of a significant de-risking milestone that has been the focus of the Company for the last three years. This approval, combined with the previously-approved major environmental permits, recognizes the quality and advanced stage of engineering and project planning, and is a fundamental part of the Company’s strategy for gaining greater recognition of the intrinsic value of Mt Todd.
Frederick H. Earnest, President and Chief Executive Officer of Vista, stated, “The approval of the MMP is a landmark achievement for Vista, its shareholders and the Northern Territory. We believe the approval of the MMP distinguishes Mt Todd as an attractive, de-risked, and partner-ready development-stage gold project highlighted by a large-scale production design, low expected operating costs, mining friendly jurisdiction, substantial existing infrastructure, strong social and government support, and all major authorizations in hand.”
Market Reaction
As of 7:48, VGZ is trading at $1.35, up 13.45%. So far more than 285K shares have exchanged hands.
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