Vista Gold Corp - Current report filing (8-K)
27 November 2007 - 7:54PM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM 8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of
The
Securities Exchange Act of 1934
Date of Report (Date of
earliest event reported):
November 20, 2007
VISTA
GOLD CORP.
(Exact name of registrant
as specified in its charter)
Yukon Territory, Canada
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1-9025
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Not Applicable
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(State or other
jurisdiction
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(Commission
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(IRS Employer
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of
incorporation)
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File Number)
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Identification No.)
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7961
Shaffer Parkway, Suite 5, Littleton, CO
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80127
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(Address of principal
executive offices)
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(Zip Code)
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Registrants
telephone number, including area code:
(720) 981-1185
Not Applicable
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(Former name or former
address, if changed since last report.)
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Check
the appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
o
Written communications pursuant to Rule
425 under the Securities Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule 14a-12
under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant
to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant
to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.02 Termination of a Material
Definitive Agreement.
On November 20, 2007, Vista Gold Corp. (Vista)
announced that Luzon Minerals Ltd. (Luzon) had decided not to exercise its
option to acquire from Vista the Amayapampa Gold Project in Bolivia, citing its
inability to advance the project with its current financial and personnel
resources. As previously reported, Luzon
had an option to acquire Vistas interest in the project from Vista pursuant to
an option agreement dated March 13, 2007 (the Option Agreement). Vista and Luzon have entered into an
agreement, dated November 20, 2007, regarding the termination of the Option
Agreement and have agreed on the terms on which Luzons outstanding obligations
with respect to the project will be satisfied.
The parties agreed that the Option Agreement is terminated as of
November 20, 2007. There is no material
relationship between Vista and Luzon other than in respect of the Option
Agreement.
Under
the terms of the Option Agreement, all as previously reported, Vista had
granted to Luzon an exclusive option to purchase 90% of Vistas interest in the
Amayapampa Project for a term of 18 months and, subject to the exercise of the
option to purchase, a right of first offer over Vistas remaining 10% interest. In consideration for the option to purchase
and the right of first offer, among other things, Luzon was to complete a
bankable feasibility study by September 14, 2007, subject to extension of the
delivery date by up to six months at Vistas discretion under certain
circumstances, and Luzon was to arrange for all of the Projects financing
required for commencement of mining operations at the levels recommended in the
feasibility study. This study was not
delivered prior to termination of the Option Agreement.
Item 7.01 Regulation FD Disclosure.
On
November 20, 2007, Vista Gold Corp. issued a
press release furnished herewith as Exhibit 99.1.
Item 9.01 Financial Statements and
Exhibits.
(d)
Exhibits.
Exhibit
10.1
Letter
Agreement dated November 20, 2007, between Vista Gold Corp. and Luzon Minerals
Ltd.
Exhibit
99.1
Press Release
of Vista Gold Corp. dated November 20, 2007
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SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
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VISTA GOLD CORP.
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By:
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/s/ Gregory G. Marlier
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Gregory G. Marlier
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Chief Financial Officer
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Date: November 26, 2007
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