Established in 1983 and based in Littleton, Colorado, Vista Gold Corp. and its affiliated companies focus on the assessment, acquisition, exploration, and ...
Vista Gold Corp. (NYSE American: VGZ) is a development-stage gold mining company established in 1983 and headquartered in Englewood, Colorado. The company, formerly known as Granges, Inc., is dedicated to the exploration and development of gold properties, with a primary focus on its flagship asset, the Mt Todd gold project ...Vista Gold Corp. (NYSE American: VGZ) is a development-stage gold mining company established in 1983 and headquartered in Englewood, Colorado. The company, formerly known as Granges, Inc., is dedicated to the exploration and development of gold properties, with a primary focus on its flagship asset, the Mt Todd gold project located in the Northern Territory of Australia. Mt Todd is one of the largest development-stage gold deposits in a Tier-1 mining jurisdiction, featuring a significant resource base and advanced permitting status. The company also holds an 11.2% interest in another venture, though details are limited. As a development-stage company, Vista Gold has not yet generated revenue from mining operations, and its financial metrics reflect this, with zero revenue and negative operating cash flows. The company relies on its cash reserves and working capital to fund ongoing exploration and development activities, with a current ratio of 34.2, indicating strong liquidity. The market capitalization is approximately $308 million, and the stock trades on the NYSE American and Toronto Stock Exchange under the symbol VGZ. The company is led by President and CEO Frederick H. Earnest, who has served as a director since 2007 and CEO since January 2012. The founder, Robert F. Smith, serves as Chairman and directs investment strategy. With only a small team of 13 employees, Vista Gold operates efficiently, focusing on advancing the Mt Todd project toward feasibility and potential development. The project is located in a politically stable region with excellent infrastructure, which could support future mining operations. The company's long-term vision is to become a mid-tier gold producer, creating value for shareholders through the development of this world-class asset.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$0
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Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$-7.5M
-166.7%
+6.0%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
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Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
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Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
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Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$-7.4M
-21.0%
-29.3%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
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Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
0.0%
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Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
12.97x
-22.5%
+17.1%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
Operator: Good day, ladies and gentlemen. Welcome to Vista Gold's Second Quarter 2026 Financial Results and Corporate Update Conference Call. As a reminder, this conference call is being recorded. Today is Thursday, July 30, 2026. It's now my pleasure to introduce Pamela Solly, Vice President of Investor Relations. Please go ahead.
Pamela Solly: Thank you, Joanna, and good day, everyone. Thank you for joining the Vista Gold Corp. Second Quarter 2026 Financial Results and Corporate Update Conference Call. I'm Pamela Solly, Vice President of Investor Relations. Also on the call today is Fred Earnest, President and Chief Executive Officer; and Doug Tobler, Chief Financial Officer. On July 29, 2026, Vista reported its financial results for the quarter ended June 30, 2026. For additional details, our full financial statements and MD&A are included in our Form 10-Q available for review at sec.gov or sedarplus.ca. Copies of the news release and quarterly reports on Form 10-Q are also available on our website at www.vistagold.com. During the course of this call and the question-and-answer session, we will be making forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements of Vista to be materially different from results, performance or achievements expressed or implied by such statements. Please refer to our most recently filed Form 10-K for details of risks and other important factors that could cause actual results to differ materially from those in our forward-looking statements and the cautionary note regarding estimates on mineral resources and mineral reserves. I will now turn the call over to Fred Earnest.
Frederick H. Earnest: Thank you, Pam, and thank you, everyone, for joining us on the call today. We will begin with an overview of our second quarter achievements and then discuss our outlook for the remainder of the year. During the second quarter, we continued to execute our strategy to develop the Mt Todd gold project on a stand-alone basis. We achieved meaningful progress on permitting, added to our Australia-based project leadership team, progressed technical optimization programs, and advanced project execution planning in line with our plans to commence detailed engineering and design in 2027. With our strong cash position at quarter end, we are well funded to continue achieving our interim project development activities while systematically reducing development risk. As we build our Australian leadership team and complete the technical and regulatory milestones ahead of us, we are positioning Mt Todd for the start of detailed engineering and design in 2027 and the commencement of an approximate 27-month period encompassing construction and commissioning. I will discuss these topics in greater detail later in the call. But I now turn the time over to Doug Tobler for a review of our financial results for the quarter ended June …
