Denver Gold Group member
Vista Gold Corp.
- NYSE Arca: VGZ
- Developer (construction/feasibility)
- Gold
- Silver
- Englewood, United States
Company profile
Vista holds the Mt Todd gold project, located in the Tier-1 mining jurisdiction of Northern Territory, Australia. Mt Todd is among the largest development-stage projects in Australia. The Company is advacing key work programs leading to the start of detailed engineering and design. This milestone is expected to initiate an approximately 27-month period of design, construction, and commissioning, culminating in first gold production. Mt Todd offers strong project economics, significant initial production, and compelling expansion and exploration upside. Mt Todd benefits from advanced local infrastructure, multiple development scenarios, and broad community support, underpinning its potential to become a long-lived, globally significant gold operation.
On July 29, 2025, Vista announced the results of its 15,000 tpd Mt Todd feasibility study. Highlights include:
• Average annual gold production of 153,000 ounces during years 1-15 and 146,000 over the 30-year life of mine
• Average ore grade of 1.04 grams gold per tonne (“g Au/t”) years 1-15 and 0.97 g Au/t over the life of mine
• Future expansion opportunities not evaluated in the Study, but considered in designs and layouts
• After-tax NPV5% of $1.1 billion, IRR of 27.8% and 2.7 year payback at a $2,500 per ounce gold price
• After-tax NPV5% of $2.2 billion, IRR of 44.7% and 1.7 year payback at spot gold price ($3,300 per ounce)
• After-tax free cash flow at a $2,500 gold price of $1.6 billion for first 15 years of commercial operations
• Initial capital requirements of $425 million
- Capital Efficiency: $93 per ounce (initial capital : total ounces of gold produced)
- Benefit to Cost Ratio of 2.5 (NPV5% : initial capital)
• All-in Sustaining Cost of $1,449 per oz years 1-15 and $1,499 per oz years 1-30
For more information on the feasibility study results, see Vista's news release dated July 29, 2025.
At Mining Forum Australia
A Denver Gold Group member company
Member companies meet qualified investors in unmediated 1x1 Meetings at every Mining Forum. The 2027 issuer list is published as companies confirm.
Peer groupthe five most similar Denver Gold Group members, 1 = most similar
| Rank | Company | Stage | Minerals | Primary operations | Market cap | 2025 production | Reserves | Match by factor |
|---|---|---|---|---|---|---|---|---|
| This company | Vista Gold Corp.NYSE Arca: VGZ | Developer | Gold, Silver | Australia | $328M | 5.19 Moz | ||
| 1 | Astral ResourcesASX: AAR | Developer | Gold | Australia | $238M | 1.1 Moz | ||
| 2 | First Mining GoldTSX: FF | Developer | Gold, Silver | Canada | $853M | 3.1 Moz | ||
| 3 | Rox ResourcesASX: RXL | Developer | Gold | Australia | $599M | 0.674 Moz | ||
| 4 | Minerals 260ASX: MI6 | Developer | Gold | Australia | $1.5B | 2.5 Moz | ||
| 5 | Liberty Gold Corp.TSX: LGD | Developer | Gold | United States | $831M |
close partial distant not reported Dots run in the order market cap, stage, minerals, country, production, reserves. Similarity weighs market capitalisation 25%, stage of development 20%, primary and secondary minerals 20%, primary country of operations 10%, production 12.5% and reserves 12.5%, with sizes compared on a logarithmic scale. Production and reserves are compared only between companies with the same primary mineral, and a figure a company has not supplied is left out of the score instead of counting against it. A statistical grouping for orientation, not a recommendation or a valuation comparison.
Prepared for information only; it is not investment advice or a recommendation. Company data as supplied to Denver Gold Group by member companies and public market sources. Market figures in US dollars as at 20 September 2026.