Item 2.02 Results of Operation and Financial Condition
On
August 1
, 2016
, the registrant
provided its unaudited financial results for the
second
quarter ended
June 30,
2016.
The registrant’s unaudited financial statements, Management’s Discussion and Analysis together with other important disclosures can be found in the Company’s Quarterly Report on Form 10-Q, filed
on
August 1
, 2016
with the U.S. Securities and Exchange Commission and the Canadian securities regulatory authorities.
Summary of Second Quarter 2016 Financial Results
We reported net income of $1.6 million or $0.02 per share for the three months ended June 30, 2016. This includes an unrealized $3.3 million mark-to-market gain on our investment in Midas Gold Corp. (“Midas”); offset by $1.7 million of operating expenses and other expenses. During the three months ended June 30, 2015, we reported net income of $3.6 million or $0.04 per share. This included a $5.9 million
payment received from the Australian Government under a research and development incentive program; an unrealized $0.3 million mark-to-market loss on our investment in Midas; and $2.0 million in operating expenses.
Our working capital at June 30, 2016 totaled approximately $16.0 million, including cash and short-term investments (comprised of government securities) of approximately $10.3 million. The Company has no debt.
To review the Company’s Quarterly Report on Form 10-Q for the three and six months ended June 30, 2016, including the related Management’s Discussion and Analysis, visit any of the following websites:
www.sedar.com
,
www.sec.gov
or
www.vistagold.com
.
Management Conference Call
A conference call with management to review our financial results for the three months ended June 30, 2016 and to discuss corporate and project activities is scheduled for Wednesday, August 10
, 2016
at 2:30 p.m. MDT.
Toll-free in North America: 1-866-233-5249
International: 416-642-3300
This call will also be web-cast and can be accessed at the following web location:
http://event.on24.com/r.htm?e=1234673&s=1&k=5184360283907E75CCB91632F5469D43
This call will be archived and available at
www.vistagold.com
after
August 10, 2016
. Audio replay will be available for 21 days by calling toll-free in North America: 1-888-203-1112, passcode 5515432.
If you are unable to access the audio or phone-in on the day of the conference call, please email questions to Connie Martinez, Manager – Investor Relations (email:
connie@vistagold.com
), and we will try to address these questions prior to or during the conference call.
All dollar amounts in the press release are U.S. dollars.
In accordance with General Instruction B.2 of Form 8-K, the information in this Item 2.02 shall not be deemed to be “filed” for purposes of the Securities Exchange Act of 1934, as amended, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.