Vista Gold Corp (VGZ) Reshapes Mt Todd Project for Leaner, Stronger Growth

Vista Gold Corp. (NYSE:VGZ) is one of the best American mining stocks to buy now. On August 21 at the Emerging Growth Conference 85, the company confirmed a strategic change at its Mt Todd Gold Project. Part of the changes includes a scaling down of the project as part of an effort to lower initial capital costs and optimize operational efficiency.

A reduction in scale from 50,000 to 15,000 tons per day should allow the company to cut costs by 59%. Amid the cuts, Vista Gold is poised to produce 153,000 ounces of gold annually at the mine. Consequently, it is expected to generate more than $1.1 billion, with a gold price averaging over $2,500 per ounce.

Additionally, Vista Gold has already begun exploring joint ventures and self-financing options to advance the Todd Gold project. Currently, it maintains a cash balance of $13.2 million with a quarterly burn rate of between $1.5 million and $1.7 million.

Vista Gold Corp. (NYSE:VGZ) is a gold project development company, with its primary asset being the Mt. Todd gold project located in the Northern Territory, Australia. As a development-stage company, its focus is on advancing the Mt Todd project, a large, undeveloped gold property featuring substantial existing infrastructure and all major permits required for development.

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Disclosure: None. This article is originally published at Insider Monkey.