Vista Gold (VGZ) Emerging Growth Conference77 summary

Financial and operational highlights

• Ended Q3 with $19 million in cash and no debt, supporting ongoing activities and feasibility work.

• Annual fixed costs for project maintenance and corporate expenses are about $7 million, with additional costs for drilling and feasibility studies.

• Current cash runway is sufficient to cover fixed costs, drilling wrap-up, and feasibility study expenses.

Project development and technical updates

• Completed a 7,000-meter drilling program in two phases, identifying modest resource increases and new high-grade mineralization zones.

• Phase I at Batman North defined mineralized boundaries, while Phase II at Southern Cross Lobe revealed both near-surface and deeper, higher-grade veins.

• Deeper intercepts suggest potential for future higher-grade underground mining.

Strategic direction and feasibility study

• Initiating a new feasibility study targeting a reserve grade of 1 gram/ton and initial CapEx under $400 million, a 60% reduction from previous plans.

• The revised project would have about one-third the throughput and 50% of the gold production, aiming for 150,000–200,000 ounces per year.

• Feasibility study expected to be completed by mid-next year, with results anticipated in early Q3.