Dallas, Texas 01/03/2014 (FINANCIALSTRENDS) –Vista Gold Corp. (NYSEMKT:VGZ) declared that it has inked a binding share purchase deal with the aim to transfer its interest in the Awak Mas gold venture in Sulawesi, Indonesia into a net smelter return royalty (“Royalty”) on the venture.
The Awak Mas Project is indirectly held via a wholly owned arm of the firm, Vista Gold (Barbados) Corp. and is the subject of a 2009 JV deal, as ameliorated and allocated, and a 2011 additional option contract, as amended and assigned, (together, the “Existing Deals”) each between Vista Barbados and Awak Mas Holdings Pty Ltd. (the “Purchaser”) (a completely owned arm of One Asia Resources Corp. (“One Asia”)).
Vista Gold says final environmental document for Mt. Todd delayed
Vista Gold Corp. (NYSEMKT:VGZ) said that the concluding environmental impact report for its Mt. Todd gold venture in Australia will be postponed after an application from the Northern Territory Environmental Protection Agency (NT EPA) for added data.
The firm stated that it is appraising the request and assessing how best to take action. It will offer an update on the timing for the projected authorization of the document when “it is sensible to do so”, it stated.
The EIS was firstly anticipated by the end of 2013.
The NT EPA has appealed to their right to request added data before the termination of the 35-day final EIS appraisal period.
“While this symbolizes a postponement in the authorization of the Mt. Todd EIS, we do not anticipate a lengthy impediment,” stated president and chief executive officer of Vista, Fred Earnest.
He added that the firm will work jointly with the NT EPA to attain the victorious approval of the environmental document.
The U.S.-based firm has appointed Endeavour Financial to help with a strategic appraisal that is directed at maximizing investor value, with a precise focus on the Mt. Todd project.