Vista Gold Corp - Current report filing (8-K)
09 Juli 2008 - 6:26PM
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):
July 2,
2008
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
(Former name or
former address, if changed since last report.)
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 7.01
Regulation FD Disclosure.
On
July 2, 2008, Vista
Gold Corp. issued a press release furnished herewith as Exhibit 99.1.
Item 8.01
Other Events.
On
July 2, 2008, Vista Gold Corp. (Vista or the Company) issued a press
release in which it reported on the status of the Change of Land Use Permit for
the Paredones Amarillos Project in Baja California Sur (BCS), Mexico (as
described in Vistas press releases dated April 30, May 8, and May 21,
2008) and the expected development timetable for the project.
Vista
has taken steps to preserve its right
to
proceed with a judicial appeal of the opinion issued by the BCS office of
Secretariat of Environment and Natural Resources (SEMARNAT) and has also
completed a number of prerequisite steps to submitting an application for a new
Change of Land Use Permit
.
Changes in the law governing the Change of
Land Use Permit require Vista to demonstrate that it has the right to use the
surface affected by the permit. Vista
has recently received a certificate from the General Direction of Mines of the
General Coordinator of Mines in the Ministry of Economy verifying that Vistas
Mexican subsidiary, Minera Paredones Amarillos S.A. de C.V. (MPA), is the
rightful holder of valid mineral rights for the Paredones Amarillos
Project. Vista has also recently
received an official appraisal of the surface land in the project area from the
National Institute for the Appraisal and Administration of National Property
(INDAABIN) confirming that the surface overlying a significant part of these
mineral rights (including the proposed pit and most of the dumps) is federal
land. Under Mexican mining statutes, MPA
has the constitutional right to use the surface for mining activities, subject
to applicable environmental permits and federal authorizations. This position has been further confirmed in
the foregoing certificate issued by the General Direction of Mines of the
General Coordinator of Mines in the Ministry of Economy. One of the mechanisms for authorizing the use
of federal land for mining activities is a Temporary Occupation Permit (lasting
the life of the mining activity). Vista
is preparing an application for a Temporary Occupation Permit and plans to
submit the application shortly. Vista
has signed an agreement with a private landowner for the purchase of the
remaining surface land required by the project.
This land covers the area of the mill site, tailing impoundment and
various ancillary facilities. The
documents supporting Vistas right to use the surface, together with the
existing and valid environmental permit and other supporting documents
currently being prepared, will form the basis of the new Change of Land Use
Permit application. Vista plans to submit this application within the next few
weeks. Based on earlier discussions with the Secretary of SEMARNAT (as
discussed in Vistas press release dated May 21, 2008), Vistas management
expects the application to be processed promptly and by law within 60 working
days after its filing; the foregoing in accordance with those terms established
in the applicable legal provisions.
Vista
expects to complete the definitive feasibility study for the Paredones
Amarillos Project by mid-August and will commence activities to arrange
financing shortly afterwards. Based on a
preliminary schedule and assuming favorable results from the definitive
feasibility study, the successful completion of project financing, and the
issuance of a new Change of Land Use Permit, construction of the Paredones
Amarillos Project is expected to commence before the
2
end
of 2008, with first gold production planned to commence before the end of 2009.
A detailed project schedule is currently
under preparation and will be made public as part of the feasibility study
results.
Item 9.01
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Financial Statements and Exhibits.
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(d)
Exhibits.
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Exhibit 99.1
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Press
Release of Vista Gold Corp. dated July 2, 2008
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This
filing contains forward-looking statements within the meaning of the U.S.
Securities Act of 1933 and U.S. Securities Exchange Act of 1934 and
forward-looking information within the meaning of applicable Canadian
securities laws. All statements, other
than statements of historical facts, included in this filing that address
activities, events or developments that Vista expects or anticipates will or
may occur in the future, including such things the timing and receipt of
required land use, environmental and other permits for the Paredones Amarillos
Project and timing for starting and completion of drilling and testing programs
at the Paredones Amarillos Project; plans to confirm the validity of the Change
of Land Use Permit for the Paredones Amarillos Project and timing for
confirmation of the status of this permit; timing for completion of application
process for new Change of Land Use Permit for the Project and outcome of this
application process; timing and outcome for application for Temporary
Occupation Permit for mining activities at the Paredones Amarillos Project;
plans to purchase remaining surface land required by the Project; progress,
scheduling and the performance and results of feasibility studies including the
ongoing definitive feasibility study for the Paredones Amarillos Project;
potential funding requirements and sources of capital; anticipated timing of
commencement of construction and commencement of production at the Paredones
Amarillos Project; contemplated development scenarios for the Paredones
Amarillos Project; preliminary assessment results and plans for a feasibility
study at the Mt. Todd Project; Vistas future business strategy, competitive
strengths, goals, operations, plans, potential project development, future
share price and valuation, future gold prices, Vistas potential status as a producer,
and other such matters are forward-looking statements. When used in this filing, the words estimate,
plan, anticipate, expect, intend, believe and similar expressions are
intended to identify forward-looking statements. These statements involve known and unknown
risks, uncertainties and other factors which may cause the actual results,
performance or achievements of Vista to be materially different from any future
results, performance or achievements expressed or implied by such forward-looking
statements. Such factors include, among
others, risks relating to delays and incurrence of additional costs in
connection with the feasibility study underway at the Paredones Amarillos
Project, including uncertainty relating to timing and receipt for required
governmental permits; uncertainty relating to timing and receipt for
confirmation of the validity of the Change of Land Use Permit for the Paredones
Amarillos Project, uncertainty relating to timing and outcome of application
process for new Change of Land Use Permit for the Project; uncertainty relating
to timing and outcome for application for Temporary Occupation Permit for
mining activities at the Project; uncertainty relating to completion of
agreement for purchase of remaining surface land required by the Project;
uncertainty of feasibility study results and preliminary assessments and of
estimates on which such results are based; risks relating to delays in commencement
and completion of construction at the Paredones Amarillos Project and Mt. Todd
Project; risks of significant cost increases; risks of shortages of equipment
or supplies; risks that Vistas acquisition, exploration and property
advancement efforts will not be successful; risks relating to fluctuations in
the price of gold; the inherently hazardous nature of mining-related
activities; uncertainties concerning reserve and resource estimates; potential
effects on Vistas operations of environmental regulations in the countries in
which it operates; risks due to legal proceedings; risks relating to political
and economic instability in certain countries in which it operates; uncertainty of being able to raise capital on
favorable terms or at all; and external risks relating to the economy and
credit markets in general; as well as those factors discussed in Vistas latest
Annual Report on Form 10-K, Quarterly Report on Form 10-Q and other
documents filed with the U.S. Securities and Exchange Commission and Canadian
securities commissions. Although Vista
has attempted to identify important factors that could cause actual results to
differ materially from those described in forward-looking statements, there may
be other factors that cause results not to be as anticipated, estimated or
intended. There can be no assurance that
such statements will prove to be accurate as actual results and future events
could differ materially from those anticipated in such statements. Except as required by law, Vista assumes no
obligation to publicly update any forward-looking statements, whether as a
result of new information, future events or otherwise.
3
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: July 8, 2008
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