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Vista Gold Corp.
5/7/2024
Good day, ladies and gentlemen. Welcome to Free Gold's first quarter 2024 financial results and corporate update conference call. At this time, all participants are in listen-only mode. Upon the presentation, we will conduct a question and answer session. At that time, participants are asked to press star 1 to register for a question. For assistance during the call, please press star 0 on your touch-tone phone. As a reminder, This conference is being recorded. Today is Tuesday, May 7th, 2024. It's now my pleasure to introduce Pamela Sully, Vice President of Investor Relations. Please go ahead.
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 Sully, 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 can 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.
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 Mount 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 Deposits. and published our inaugural Environmental, Social, and Governance Report. We note that during the quarter, W. Durand, a Randy Epler, a long-serving member of our board, passed away. We recognize his many contributions to the board and the company. In February, Mr. Mike Sylvester was appointed to take Mr. Epler's place on the board. On April 30th, 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 mount pod 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. I am pleased to report that we have had no lost-time accidents year-to-date, and that the Mount Todd site has now reached 908 consecutive accident-free days. I will discuss some of these topics in greater detail later in the call, but I will now turn the time over to Doug Tobler for a review of our financial results for the quarter that March 31st, 2024. Thank you, Fred.
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