Date: Thu, 20 Nov 1997 22:07:49 GMT Server: Apache/1.2.4 Last-Modified: Fri, 28 Feb 1997 05:34:52 GMT ETag: "3ba2e-1ff3-33166e7c" Content-Length: 8179 Accept-Ranges: bytes Connection: close Content-Type: text/html
Vista Gold Corp., the result of a merger between Granges Inc. and Da Capo Resources Ltd., is a well-financed, mid-tier gold producer with substantial reserves and a large portfolio of properties in North and South America.
On November 1, 1996, this merger brought together two companies - one with excellent operating and development skills and the other with exploration expertise and projects ready for development.
Resources | 4.4 million ounces; expected to grow substantially through diversified exploration projects. |
Proven & Probable Reserves | 1.5 million ounces; expected to reach 3 million ounces by 1999. |
Production Rate | 100,000 ounces from the Hycroft mine; expected to increase to 300,000 ounces per year after completion of development projects in Bolivia and Venezuela. |
Management | Experienced, independent management team with proven track record in exploration, development, and operations. |
Research Coverage |
Salman Partners Inc. First Marathon Securities Limited ScotiaMcLeod Inc. Yorkton Securities Inc. David Williamson Associates Limited |
Hycroft Mine |
Location Ownership Reserves Production Rate Efficiency Cash Cost |
Winnemucca, Nevada, USA 100% 1 million ounces 100,000 ounces to expand to 113,000 ounces in 1997 Nevada's most efficient mine Projected $255 per oz average cash cost by 2000
|
Amayapampa & Capa Circa Development Project |
Location Ownership Mine Types Production |
Bolivia 100% Open pit and underground 100,000 ounces by mid-1998 Gravity, flotation, cyanide leach mill processing 3,200 tonnes per day |
Economics |
$62 million capital; $140/oz cash cost
|
Guariche Development Project |
Location Ownership Reserves Production Economics |
Venezuela 100% Potential for 1 million plus ounces 75,000 ounces by mid-1999 $38 million capital; $180/oz cash cost |
Bolivia |
Copacabana Irpa Irpa Iroco (joint venture with Teck) La India
|
100% 100% 49% 49% |
Ecuador |
Zamora Gold Corp.
|
41% |
Peru |
Ongoing program
|
--- |
Venezuela |
Guariche
|
100% |
USA |
Hycroft Van Norman |
100% 50% |
A strong, independent management team is now in place to develop Vista's long-term growth potential. The combination of senior executives from Granges and Da Capo with proven track records has created a dynamic team.
David Sinclair - Chairman
Mr. Sinclair is a chartered accountant and was formerly senior and Managing Partner of Coopers & Lybrand, Vancouver. He is also a director of Cominco and was previously Chairman of Hycroft Corporation.
Ross Beaty - Vice Chairman
Mr. Beaty is a mineral exploration geologist and was formerly founder and President of Equinox Resources which was acquired by Hecla. He was President of Da Capo which was reorganized under his direction in April 1994 to focus on exploring outstanding gold properties in Bolivia for their bulk tonnage potential. He is also President of Pan American Silver Corp.
Michael Richings - President
Mr. Richings is a mining engineer and has extensive experience in the management, development, and production side of the mining industry. He became President and CEO in June 1995 and has been the driving force of the recent revitalization of the group. Previously, he was President of Atlas Corporation and President of Lac Minerals Ltd. of South America.
A.J. Ali - Chief Financial Officer
Mr. Ali is a chartered accountant and was appointed Vice President Finance in May 1993. He has been associated with the mining industry since 1981 and was with Denison Mines prior to joining the Company.
Ronald (Jock) McGregor - V.P. Operations & Development
Mr. McGregor is a metallurgist and has been involved in project development in the mining industry for over 25 years. Having spent ten years in Africa, he moved to the U.S. with Bateman Engineering and then joined Westmont Mining which was acquired by Cambior. He was Vice President in charge of Evaluations and Development and President of Carlota Copper before joining the Company in 1996.
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