Vista Gold Corp. (TSX:VGZ) has received the third and final US$10 million instalment under its royalty agreement with Wheaton Precious Metals Corp. (TSX:WPM), marking a significant milestone for the company. The Australian team at Vista facilitated the transaction to advance its Mount Todd gold project, which is touted as Australia’s largest undeveloped gold project.
The payment comes after Vista Gold Corp. met certain conditions, including commencing a designated drilling program at Mount Todd. This funding injection will allow Vista to demonstrate its development strategy for Mount Todd, which requires lower initial capital investment while maintaining high returns through staged development, as stated by Fred Earnest, Vista’s chief executive.
The royalty agreement, first announced in December 2023, grants Wheaton Precious Metals Corp. a 1% royalty on gross revenue from the sale or disposition of minerals from the project. Vista Gold Corp. is a gold mining company focused on 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, reflecting positive momentum following the receipt of the final instalment. Investors are encouraged to join the discussion on the Vista Gold Corp. Bullboard to stay informed about the latest developments in the mining sector. This news highlights the continued progress and growth potential of Vista Gold Corp. in the gold mining industry.
