Vista Gold Corp. (NYSE American:VGZ) (TSX: VGZ) announced receipt of the final $1.0 million payment from Prime Mining Corp.
As announced on June 15, 2020 (see news release), Prime Mining was required to pay Vista $2.1 million in lieu of Vista being granted certain royalties and back-in rights relating to the Guadalupe de los Reyes gold / silver project in Mexico. The first payment of $1.1 million was paid in January 2021. With this $1.0 million payment, Vista has no remaining right to be granted the royalties and back-in rights.
Frederick H. Earnest, President and Chief Executive Officer of Vista, commented, “We are pleased to receive this final payment and successfully complete this agreement with Prime Mining.”
All dollar amounts in this press release are in U.S. dollars.
About Vista Gold Corp.
The Company is a gold project developer. The Company’s flagship asset is the Mt Todd gold project in the Tier-1 mining jurisdiction of Northern Territory, Australia. Mt Todd is the largest undeveloped gold project in Australia and if developed as presently designed, would potentially be Australia’s fourth largest gold producer on an annual basis.
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We acknowledge the [financial] support of the Government of Canada.