Vista Gold Corp. Announces Personnel Appointments, Third Quarter Financial Results
10 November 2004 - 11:49PM
PR Newswire (US)
Vista Gold Corp. Announces Personnel Appointments, Third Quarter
Financial Results DENVER, Nov. 10 /PRNewswire-FirstCall/ -- Vista
Gold Corp. (AMEX:VGZ) Toronto is pleased to announce the promotion
of Howard M. Harlan, R.G., C.P.G., to the position of Vice
President, Business Development and the appointment of Warren R.G.
Bates, P. Geo., to the position of Chief Geologist. Mr. Harlan was
previously Manager, Corporate Administration with the Company and
Mr. Bates was International Exploration Manager. Mr. Harlan has
over 35 years experience in exploration, development, operations,
project evaluation, and mergers and acquisitions in the mining
industry in North and South America. Mr. Harlan holds B.S. and M.S.
degrees in Geology from the University of Arizona and is a
registered geologist and certified professional geologist. Mr.
Bates joined the Vista Gold/Granges exploration team in 1985. He
has managed exploration programs for gold, copper, nickel and
diamonds in North and South America, working in a variety of
geologic and geographic locations. Mr. Bates is experienced in
grass-roots exploration and mine site exploration, and has also
worked on project acquisitions and evaluations. He holds Honors
degrees in Chemistry and Geology from the University of Manitoba,
and is a Qualified Person under Canadian National Instrument 43-101
requirements. In its Quarterly Report on Form 10-Q for the quarter
ended September 30, 2004, to be filed with the US Securities and
Exchange Commission, Vista reports a consolidated net loss of
US$1.0 million or US$0.07 per share compared to a net loss of
US$0.5 million or US$0.04 per share for the quarter ended September
30, 2003. The increase in losses of US$0.5 million compared to the
same period last year resulted in part from increased exploration,
property evaluation and holding costs of US$0.2 million reflecting
the reclassification of tax expense relating to the Hycroft
reclamation bond which was previously stated as restricted cash, a
US$0.07 million reduction in gold sales, and increased property
evaluation costs of US$0.08 million. As well, stock-based
compensation, which was not previously reported in 2003 as an
expense was US$0.12 million, compared to zero in the same previous
period. For the nine months ended September 30, 2004, Vista
reported a consolidated net loss of US$3.6 million or US$0.23 per
share compared to a net loss of US$2.0 million or US$0.16 per share
for the same period in 2003. At the end of the quarter the
Corporation had working capital of US$8.6 million and no debt.
Vista Gold Corp., based in Littleton, Colorado, evaluates and
acquires gold projects with defined gold resources. Additional
exploration and technical studies are undertaken to maximize the
value of the projects for eventual development. The Corporation's
holdings include the Maverick Springs, Mountain View, Hasbrouck,
Three Hills, Hycroft and Wildcat projects in Nevada, the Long
Valley project in California, the Yellow Pine project in Idaho, the
Paredones Amarillos and Guadalupe de los Reyes projects in Mexico,
the Amayapampa project in Bolivia, and the Awak Mas project in
Indonesia. The statements that are not historical facts are
forward-looking statements involving known and unknown risks and
uncertainties that could cause actual results to vary materially
from targeted results. Such risks and uncertainties include those
described from time to time in the Corporation's periodic reports,
including the annual report on Form 10-K filed with the U.S.
Securities and Exchange Commission. The Corporation assumes no
obligation to publicly update any forward-looking statements,
whether as a result of new information, future events or otherwise.
For further information, please contact Greg Marlier at (720)
981-1185, or visit the Vista Gold Corp. website at
http://www.vistagold.com/. DATASOURCE: Vista Gold Corp. CONTACT:
Greg Marlier of Vista Gold Corp., +1-720-981-1185 Web site:
http://www.vistagold.com/
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