Vista Gold Corp. (NASDAQ: VGZ) stock gained by 17.65% in the pre-market trading session. Vista is a project developer with a gold rating. The Mt Todd gold mine, located in Tier 1 mining-friendly region of Northern Territory, Australia, is VGZ’s main asset.
What is happening?
VGZ is pleased to confirm that the Northern Territory Government has approved the Mining Management Plan for VGZ’s 100% held Mt Todd gold mine in Australia’s Northern Territory.
The MMP is the last major approval needed for the Mt Todd mine to be developed. The attainment of this approval signifies the completion of a critical de-risking milestone on which VGZ has been focused for the past three years. This certification, together with the previously issued key environmental permits, acknowledges the high quality and advanced level of engineering and project design and is an important aspect of VGZ’s strategy for garnering broader recognition of the intrinsic value of Mt Todd.
Frederick H. Earnest, President and CEO of Vista, stated,
The MMP’s acceptance represents a watershed moment for Vista, its shareholders, and the Northern Territory. It is believed that the MMP approval differentiates Mt Todd as an appealing, de-risked, and partner-ready advancement gold project with a massive production design, low anticipated operating costs, mining-friendly law, significant existing infrastructure, solid support from the government, and all main authorizations in hand.
VGZ is excited to be another step ahead to completing a project that is predicted to give considerable economic benefit to the Northern Territory, owing to a thorough engagement with the Jawoyn people and local environmental, community, and commercial partners. VGZ would like to thank its workers and consultants for their unwavering commitment to the permission process as they worked tirelessly and constructively with the NT Government, and they’d want to thank the residents of the surrounding towns for their huge backing for Mt Todd and Vista. They will continue to collaborate closely with all stakeholders to make sure that the development is both safe and responsible.