Vista Gold Corp. Announces $20M Royalty with Wheaton Precious Metals Corp. on Mt Todd

Author: Benzinga Newsdesk | December 14, 2023 07:42am

Vista Gold Corp. (TSX:VGZ) ("Vista" or the "Company") is pleased to announce that its wholly-owned subsidiary Vista Gold Australia Pty. Ltd. ("Vista Australia") has entered into a Royalty Agreement (the "Royalty Agreement") with an affiliate of Wheaton Precious Metals Corp. ("Wheaton") dated December 13, 2023, in relation to the Company's Mt Todd gold project ("Mt Todd" or the "Project") located in Northern Territory, Australia. All dollar amounts in this news release are in US dollars.

Pursuant to the terms of the Royalty Agreement, Vista Australia granted Wheaton a royalty in the amount of 1% of gross revenue from the sale or disposition of minerals from the Project (the "Royalty"), subject to adjustments in certain circumstances. In consideration for the Royalty, Wheaton will provide Vista with $20 million to advance Mt Todd and for general corporate purposes. The transaction is subject to approval from the Australian government Foreign Investment Review Board ("FIRB"). Wheaton has also been granted a Right of First Refusal on any royalties, streams or pre-pays pertaining to Mt Todd.

Posted In: TSX:VGZ VGZ WPM