- Vista Gold Corp. (TSX:VGZ) received the third and final US$10 million instalment under its royalty agreement with Wheaton Precious Metals Corp. (TSX:WPM)
- Vista said its Australian team made the transaction to advance its Mount Todd gold project, which according to the company, is Australia’s largest undeveloped gold project
- The company received the final instalment after it achieved certain conditions, such as commencing a designated drilling program at Mount Todd
- Vista Gold Corp. last traded at $0.68 per share
Vista Gold Corp. (TSX:VGZ) received the third and final US$10 million instalment under its royalty agreement with Wheaton Precious Metals Corp. (TSX:WPM).
In a news release, Vista said its Australian team made the transaction with Wheaton’s affiliate, Wheaton Precious Metals (Cayman) Co. to advance its Mount Todd gold project, which according to the company, is Australia’s largest undeveloped gold project.
Under the terms of the deal announced back in December 2023, Vista Australia granted Wheaton a royalty in the amount of 1 per cent of gross revenue from the sale or disposition of minerals from the project.
“This funding provides Vista with the opportunity to demonstrate a development strategy for Mount Todd that requires substantially lower initial capital investment and maintains high returns through staged development,” Vista’s chief executive, Fred Earnest said at the time.
The company received the final instalment after it achieved certain conditions, such as commencing a designated drilling program at Mount Todd.
Vista Gold is a gold mining company engaged in the evaluation, acquisition, exploration, and advancement of gold exploration and potential development projects.
Vista Gold Corp. (TSX:VGZ) last traded at $0.68 per share.
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(Top photo: Vista Gold Corp.)
