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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
Report of Foreign Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the period of August 7, 1997 Commission File Number: 1-9025
VISTA GOLD CORP.
(Name of Registrant)
Suite 3000
370 Seventeenth Street
Denver, Colorado 80202
(Address of Principal Executive Offices)
Indicate by check mark whether the registrant files or will file annual reports
under cover of Form 20-F or Form 40-F.
Form 20-F X Form 40-F
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Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the SEC
pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes No X
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If "Yes" is marked, indicate the file number assigned to the registrant in
connection with Rule 12g3-2(b): Not applicable.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
VISTA GOLD CORP.
Date: August 7, 1997 By: /s/ KARLA J. KIMREY
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Karla J. Kimrey
Director of Investor Relations
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EXHIBIT INDEX
Exhibit Description of Exhibit
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99.1 Press release dated August 7, 1997, stating that the Company
announces improved second quarter results.
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EXHIBIT 99.1
VISTA GOLD CORP. ANNOUNCES IMPROVED SECOND QUARTER RESULTS
DENVER, COLORADO, AUGUST 7, 1997 - Vista Gold Corp. reported a net loss of
US$1.2 million or $0.01 per share for the second quarter ending June 30, 1997
compared to a net loss of US$2.9 million or $0.06 per share for the same period
in 1996. Cash flow from mining operations were US$2.4 million compared to
US$1.6 million for the same period in 1996. These excellent results were
achieved in spite of lower gold prices. For the first six months of 1997,
the Company reported a net loss of US$1.9 million or $0.02 per share compared
to a loss of US$4.9 million or $0.11 per share for the same period in 1996.
Cash flow from mining operations for the first six months of 1997 were US$4.7
million compared to US$2.6 million for the same period in 1996.
The Hycroft mine in Nevada reported an all time record gold production of
30,404 ounces in the second quarter for a total of 60,539 ounces for the first
six months of the year. This compares to second quarter 1996 production of
23,429 and 39,635 ounces for the first six months of 1996.
The improvement in financial results for the second quarter and first six
months can be attributed to the increased gold production and lower direct cash
costs at the mine. Direct cash costs for the first six months were $240 per
ounce. This compares to direct cash costs for the first six months of 1996 of
$287 and $274 for the full year 1996.
SUMMARY RESULTS
(US DOLLARS IN THOUSANDS, EXCEPT PER SHARE DATA)
<TABLE>
<CAPTION>
THREE MONTHS ENDED SIX MONTHS ENDED
JUNE 30 JUNE 30
1997 1996 1997 1996
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<S> <C> <C> <C> <C>
Revenue $11,201 $9,739 $22,572 $16,408
Mineral exploration expense* 1,143 765 1,613 1,886
Net earnings (loss) (1,192) (2,992) (1,883) (4,897)
Cash flow from mining operations 2,388 1,550 4,686 2,603
Net earnings (loss) per share $ (0.01) $(0.06) $(0.02) $(0.11)
Direct cash operating cost per ounce 240 290 240 287
Consolidated Production
Gold (ounces) 30,404 23,429 60,539 39,635
Silver (ounces) 163,876 110,710 304,920 150,433
</TABLE>
* Vista Gold's policy is to expense exploration costs in the period incurred
versus capitalizing those costs.
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Vista Gold Corp. is an international gold mining, development and exploration
company based in Denver, Colorado. Its holdings range from the Hycroft mine in
Nevada to development and exploration projects in North and South America.
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The statements that are not historical facts are forward-looking statements
involving known and unknown risks and uncertainties that could cause actual
results to vary materially from the targeted results. Such risks and
uncertainties include those described in the Company's 20-F as amended.
For further information, please contact Karla J. Kimrey, Director of Investor
Relations, or Michael B. Richings, President and CEO at (303) 629-2450 or (888)
629-2450.
