VISTA GOLD CORP
For the period ended Jun 30, 2026. Filed Jul 29, 2026.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2026 · Filed Jul 29, 2026
VGZ$2.75+1.5%Stored close · as of Nov 6, 2026
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2026-03-31; filed 2026-04-30.
0000783324-26-000025
ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONSCurrent report: 10-Q
Period ended 2026-06-30; filed 2026-07-29.
0000783324-26-000036
ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONSThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 102 previous paragraphs and 106 current paragraphs.
64 unchanged; 24 reworded; 15 added; 13 removed; 1 previous and 3 current paragraphs rearranged.
Tables are not compared: 119 previous and 118 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (15)
Current report
The Company is also advancing several programs in preparation for construction. The initial phase of a dewatering program is underway at the Batman pit and the tailings storage facility; additional phases are planned to begin later this year. We have also completed refinements to the site layout design, are planning tailings storage facility pre-design field investigations, and continue project execution planning.
Current report
Mt Todd Feasibility Study Highlights
Current report
The Study, which focused on a smaller initial, but scalable project resulted in a significant reduction in initial capital and has been adopted as the basis for the Company’s plans to develop Mt Todd on a standalone basis.
Current report
2025, respectively; and $4,158 and $3,322 for the six months ended June 30, 2026 and 2025, respectively. The increase in
Current report
Corporate administration costs were $846 and $678 during the three months ended June 30, 2026 and 2025; and $2,477
Current report
Interest income was $466 and $140 for the three months ended June 30, 2026 and 2025, respectively; and $651 and $309
Current report
Vista's capital resources consist primarily of cash and cash equivalents. As of June 30, 2026, the Company had cash and cash equivalents of $49,536, working capital of $48,515 and no outstanding debt. Information regarding other commitments, contingencies and contractual arrangements that may affect the Company's liquidity and capital resources is included in the accompanying notes to the unaudited condensed consolidated financial statements for the three and six month periods ended June 30, 2026.
Current report
The Company's short-term liquidity requirements consist primarily of expenditures related to advancing the Mt Todd gold project, including engineering and technical studies, optimization activities, permitting and environmental compliance, corporate development activities and general corporate and administrative expenses. During the remainder of 2026 and into 2027, the Company expects to continue advancing Mt Todd toward detailed engineering and design while maintaining the flexibility to adjust the timing and scope of discretionary expenditures based on available capital, project priorities and market conditions. The Company expects to fund these activities from existing cash resources.
Current report
The Company's long-term liquidity requirements are expected to increase as it advances Mt Todd. These requirements are expected to include costs associated with building the owner's team, front-end and detailed engineering and design, early works, procurement, construction, commissioning, working capital, reclamation financial assurance and other costs associated with developing the project. The capital required to construct Mt Todd would be substantially greater than the Company's current financial resources and will require one or more sources of project financing, including debt, equity, strategic investments, royalty or streaming transactions and other financing alternatives. There can be no assurance that such financing will be available on acceptable terms, or at all.
Current report
The Company periodically evaluates opportunities to strengthen its financial position and enhance shareholder value through capital markets transactions and strategic alternatives. Future financing activities will depend on a variety of factors, including market conditions, the results of ongoing engineering and technical work, permitting progress, the gold price environment, and the availability of financing from project finance and equity markets or strategic partners.
Current report
The Company’s plans at Mt Todd over the next year include advancing engineering, technical studies, permitting, select
Current report
early works, and corporate activities supporting project financing and development planning. For the twelve-month period following June 30, 2026, the Company estimates cash expenditures of approximately $14,300 for recurring operating activities and approximately $13,900 for non-recurring project activities and capital expenditures. The Company expects to fund these expenditures from existing cash resources. Actual expenditures may differ from these estimates due to changes in project priorities, technical results, permitting progress, market conditions, financing activities and other factors affecting the Company's business and development plans.
Current report
Management believes the Company's existing cash resources are sufficient to fund its currently planned activities for at least the next twelve months. The timing and scope of activities beyond that period, including commencement of detailed engineering and design and any decision to proceed with construction, will depend on the Company's ability to secure the necessary project financing and the Board of Directors' determination that development of Mt Todd is in the best interests of the Company and its shareholders.
Current report
We have started building our executive leadership and project development teams in Australia. Our executive team will be based in Perth and the project development team will be assigned to the NT, with some roles operating on a fly-in, fly-out basis. We have increased our corporate capacity in the areas of projects/technical services, external relations/social performance, legal, and permitting. We are continuing to recruit executive and project development team members to further strengthen our project execution capabilities in Australia.
Current report
The Company is also advancing several programs in preparation for construction. The initial phase of a dewatering program is underway at the Batman pit and the tailings storage facility; additional phases are planned to begin later this year. We have also completed refinements to the site layout design, are planning tailings storage facility pre-design field investigations, and continue project execution planning.
Removed paragraphs (13)
Previous report
relations/social performance, legal, and administration/finance/market relations. We are currently recruiting an Australian-based managing director who will be responsible for delivering the Mt Todd project. Later this year we plan to begin building the project development team.
Previous report
Feasibility Study Highlights
Previous report
The Company continues to prioritize the efficient use of financial resources to advance Mt Todd. Our funding strategy is to maintain adequate liquidity to support near-term objectives while minimizing share dilution. The primary measure of liquidity considered by the Company is available cash, cash equivalents, and any short-term investments. As a secondary measure, we consider current assets, net of current liabilities (“Working Capital”).
Previous report
The following table sets forth the Company’s primary and secondary measures of liquidity at March 31, 2026 and December 31, 2025:
Previous report
The net increase in cash and cash equivalents during the three months ended March 31, 2026 resulted primarily from net proceeds of the March 2026 Offering, offset by other net cash outflows. On March 9, 2026, Vista closed the March 2026 Offering of 17,940,000 Common Shares, inclusive of the underwriters’ exercise of their 15% overallotment option, at a price of $2.50 per Common Share. Aggregate gross proceeds from the Offering totaled $44,850. After deductions for underwriting discounts, commissions and other costs, net proceeds totaled $42,006. We intend to use the net proceeds to advance exploration and development activities at our Mt Todd gold project and for general corporate purposes. Details regarding financial results for the three months ended March 31, 2026 are presented in the “Results from Operations” section above and the preceding narratives in this section regarding operating activities, investing activities, and financing activities.
Previous report
For the 12-month period following March 31, 2026, the Company estimates its net expenditures will include approximately $8,600 for recurring expenditures and approximately $7,100 for non-recurring project program costs. Recurring expenditures include ongoing Mt Todd site maintenance; other Australia non-site costs for personnel and general costs; and corporate costs. Non-recurring program costs relate primarily to activities in preparation for the start of detailed engineering, including: metallurgical and geotechnical evaluations; project execution planning; the preparation and submission of applications for permit modifications and related studies and other activities; treatment and discharge of water from the Batman pit; and other technical, social, and administrative programs to better position Mt Todd for the start of detailed engineering and design. As these programs advance, additional activities may arise that will require expenditures beyond management’s current estimates. Management expects to fund Vista’s activities during the next twelve months from existing Working Capital.
Previous report
We are a party to an at-the-market offering agreement (the “ATM Agreement”) with H. C. Wainwright & Co., LLC (“Wainwright”). Under the ATM Agreement, the Company can, but is not obligated to, issue and sell Common Shares through Wainwright (the “ATM Program”). In connection with the March 2026 Offering, we suspended the ATM Agreement and terminated the continuous offering by us under the associated prospectus supplement. We will not make any sales of Common Shares pursuant to the ATM Agreement unless and until a new prospectus is filed and the expiration of a 90-day lockup period following completion of the March 2026 Offering. However, the ATM Agreement remains in effect. No Common Shares were issued under the ATM Program during the three months ended March 31, 2026.
Previous report
Potential sources of additional Working Capital may include issuances of Common Shares through public or private offerings; filing of a new prospectus to reestablish availability of the ATM Program; other non-equity sources of project financing; and monetization of Vista’s remaining non-core assets, which include three royalty interests on properties in the U.S. and Canada, and used mill equipment that is being marketed by a third-party mining equipment dealer.
Previous report
We believe our Working Capital as of March 31, 2026, together with other potential future sources of financing and sales
Previous report
of non-core assets, will be sufficient to fund our currently planned net corporate expenses, Mt Todd holding costs, and other Mt Todd programs for at least one year from the date of issuance of this quarterly report on Form 10-Q. Should the Company accelerate portions of its Mt Todd development plans, additional equity issuances or other forms of financing will be required to meet Working Capital requirements.
Previous report
Vista’s long-term viability depends upon our ability to realize value from our principal asset, Mt Todd. Our funding strategy is to effectively prioritize activities that support our value realization objectives and, when considered appropriate, issue additional equity or utilize other means of financing. The underlying value and recoverability of the amounts shown as mineral properties and plant and equipment as presented in our Condensed Consolidated Balance Sheets depend on market and industry conditions, our ability to attract sufficient capital resources to execute our strategy, and the ultimate success of our programs to enhance and realize value at Mt Todd.
Previous report
Since the start of the year, we have hired four project management team members to be based in Perth and an approvals manager based in Darwin. We have increased our corporate capacity in the areas of projects/technical services, external relations/social performance, legal, and administration/finance/market relations. We are currently recruiting an Australian-based managing director who will be responsible for delivering the Mt Todd project.
Previous report
In addition, the Company commenced a geotechnical program, with a drill rig and contractor personnel now on site. The results of this comprehensive geotechnical assessment are expected to support optimization of the current open pit design, including favorable changes to the slope of the pit wall on the west side of the pit with potential improvements to the stripping ratio of the current pit.
Reworded paragraphs (24)
Previous wording
The following discussion and analysis should be read in conjunction with our unaudited condensed consolidated financial statements for the three months ended March 31, 2026, and the related notes thereto, which have been prepared in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”). This discussion and analysis contains forward-looking statements and forward-looking information that involve risks, uncertainties, and assumptions. Our actual results may differ materially from those anticipated in these forward-looking statements and information as a result of many factors. See section heading “Note Regarding Forward-Looking Statements” below.
Current wording
The following discussion and analysis should be read in conjunction with our unaudited condensed consolidated financial statements for the three and six months ended June 30, 2026, and the related notes thereto, which have been prepared in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”). This discussion and analysis contains forward-looking statements and forward-looking information that involve risks, uncertainties, and assumptions. Our actual results may differ materially from those anticipated in these forward-looking statements and information as a result of many factors. See section heading “Note Regarding Forward-Looking Statements” below.
Previous wording
On July 29, 2025, the Company announced the results of a new Mt Todd feasibility study focused on developing a 15,000 tonnes per day (“tpd”), or 5.3 million tonnes per annum (“tpa”), operation (the “Mt Todd FS” or the “Study”). The Mt Todd FS significantly decreased the initial capital, prioritized grade over tonnes, delivered stable gold production over the extended life of the project, and provided a fresh perspective for developing the Project using design and operating practices commonly employed by Australian gold operations.
Current wording
The Company completed a new Mt Todd feasibility study in July 2025 that focused on developing a 15,000 tonnes per day (“tpd”), or 5.3 million tonnes per annum (“tpa”), operation (the “Mt Todd FS” or the “Study”). The Mt Todd FS significantly decreased the initial capital, prioritized ore grade over tonnes, delivered stable gold production over the extended life of the project, and provided a fresh perspective for developing the Project using design and operating practices commonly employed by Australian gold operations.
Previous wording
In January 2026, the Company announced continued progress at its Mt Todd gold project and outlined the pathway to initiate detailed engineering and design in 2027. The Company expects this milestone to initiate a period of approximately 27 months for design, construction, and commissioning.
Current wording
The Company continues to advance its Mt Todd gold project and expects to initiate detailed engineering and design in 2027. Commencement of this work is expected to mark the beginning of an approximately 27-month period encompassing detailed engineering, construction, and commissioning.
Previous wording
We have commenced efforts to obtain permit modifications and are actively engaged with consultants, regulators, and stakeholders. Some modifications have already been submitted, and programs to support other submissions are in progress. We anticipate the approval of these modifications will be achieved in 2027.
Current wording
We are actively engaged with consultants, regulators, and stakeholders to obtain permit modifications. Some modifications have already been submitted, the first authorizations already granted, and programs to support other submissions are in progress. We expect certain additional approvals to be granted in the second half of 2026 with final approvals anticipated in 2027.
Previous wording
Since the start of the year, we have hired four project management team members to be based in Perth and an approvals manager based in Darwin. We have increased our corporate capacity in the areas of projects/technical services, external
Current wording
We have started building our executive leadership and project development teams in Australia. Our executive team will be based in Perth and the project development team will be assigned to the Northern Territory, with some roles operating on a fly-in, fly-out basis. We have increased our corporate capacity in the areas of projects/technical services, external relations/social performance, legal, and permitting. We are continuing to recruit executive and project development team members to further strengthen our project execution capabilities in Australia.
Previous wording
We are completing pre-development optimizations in line with the recommendations presented in the Mt Todd FS. Recent drilling has provided core for selective metallurgical testing to optimize grind size and gold recoveries and provide data for the optimal selection and sizing of equipment for the process plant. We have commenced a geotechnical review, with drilling and geotechnical mapping in progress in the Batman pit to assess the opportunity to steepen the west pit wall, reduce stripping, and potentially convert additional mineral resources to mineral reserves.
Current wording
We are completing pre-development optimizations in line with the recommendations presented in the Mt Todd FS. Metallurgical testing to optimize grind size and gold recoveries and provide data for the optimal selection and sizing of equipment for the process plant is in progress; initial results are in line with our expectations. A geotechnical review is also in progress, with drilling and geotechnical mapping in the Batman pit nearing completion. This program is designed to assess the opportunity to steepen the west pit wall, reduce stripping, and potentially convert additional mineral resources to mineral reserves.
Previous wording
A companion technical report titled “NI 43-101 Technical Report, Mt Todd Gold Project, 15 ktpd Feasibility Study, Northen Territory Australia” with an effective date of July 29, 2025 (the “NI 43-101 Report”) for Canadian purposes was prepared in accordance with Canadian National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) and filed on SEDAR+ at www.sedarplus.ca on September 11, 2025. The NI 43-101 Report is referenced herein for informational purposes only. The Mineral Resources and Mineral Reserves for the NI 43-101 Report are the same as the Mineral Resources and Mineral Reserves for the S-K1300 Report.
Current wording
A companion technical report titled “NI 43-101 Technical Report, Mt Todd Gold Project, 15 ktpd Feasibility Study, Northern Territory Australia” with an effective date of July 29, 2025 (the “NI 43-101 Report”) for Canadian purposes was prepared in accordance with Canadian National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) and filed on SEDAR+ at www.sedarplus.ca on September 11, 2025. The NI 43-101 Report is referenced herein
Previous wording
Cash totaled $52,729 and working capital was $51,360 at March 31, 2026. See “Liquidity and Capital Resources”. The Company had no debt as of March 31, 2026.
Current wording
Cash totaled $49,536 and working capital was $48,515 at June 30, 2026. See “Liquidity and Capital Resources”. The Company had no debt as of June 30, 2026.
Previous wording
Consolidated net loss for the three months ended March 31, 2026 and 2025 was $3,145 and $2,708, or $0.02 and $0.02 per basic share, respectively. The principal components of the period-over-period changes are discussed below.
Current wording
Consolidated net loss for the three months ended June 30, 2026 and 2025 was $2,957 and $2,356, or $0.02 and $0.02 per basic share, respectively. Consolidated net loss for the six months ended June 30, 2026 and 2025 was $6,102 and $5,064, or $0.04 and $0.04 per basic share, respectively. The principal components of the period-over-period changes are discussed below.
Previous wording
Exploration, property evaluation and holding costs were $1,654 and $1,538 for the three months ended March 31, 2026 and 2025, respectively. Recurring site activities were higher in 2026, due to the addition of project management team members and higher power costs due to water management pumping requirements, offset by lower project program costs in 2026 compared to the prior year which included work on the Mt Todd FS.
Current wording
2026 for the comparable three and six-month periods was primarily attributable to the addition of executive and project management team members in Australia and higher power costs due to water management pumping requirements, partially offset by lower project program costs in 2026 compared to the prior year which included work on the Mt Todd FS.
Previous wording
Corporate administration costs were $1,631 and $1,298 during the three months ended March 31, 2026 and 2025. Expenses in the comparable three-month periods were higher because of additional legal, consulting, and board costs associated with ongoing advancement of Mt Todd.
Current wording
and $1,976 for the six months ended June 30, 2026 and 2025, respectively. Expenses in the comparable three and six-month periods were higher because of additional legal, consulting, and board costs to support increasing pre-development activities at Mt Todd.
Previous wording
Interest income was $185 and $169 for the three months ended March 31, 2026 and 2025, respectively. The increase in the comparable three-month period was due to higher invested cash balances from the March 2026 Offering for part of the period.
Current wording
for the six months ended June 30, 2026 and 2025, respectively. The increase in the comparable three and six-month periods was due to higher invested cash balances following the March 2026 Offering, partially offset by lower short-term investment yields.
Previous wording
Net cash used in operating activities was $2,200 and $1,820 for the three months ended March 31, 2026 and 2025, respectively. The increase in operating cash outflows largely resulted from higher 2026 expenditures for corporate expenses and additional personnel in Australia.
Current wording
Net cash used in operating activities was $4,721 and $4,115 for the six months ended June 30, 2026 and 2025, respectively. The increase in operating cash outflows largely resulted from higher 2026 expenditures for corporate expenses and additional personnel in Australia.
Previous wording
Net cash used in investing activities was $nil and $184 for the three months ended March 31, 2026 and 2025, respectively. Cash used in investing activities in 2025 was for expenditures for capitalized development costs and purchases of plant and equipment.
Current wording
Net cash used in investing activities was $323 and $200 for the six months ended June 30, 2026 and 2025, respectively. Cash used in investing activities in 2026 was for purchases of office and site assets. Cash used in investing activities in 2025 was for expenditures for capitalized development costs and purchases of plant and equipment.
Previous wording
During the three months ended March 31, 2026 and 2025, net cash of $41,307 and $24, respectively, was provided by financing activities. Cash provided by financing activities during the three months ended March 31, 2026 was $44,850 of proceeds from the March 2026 Offering, partially offset by $2,495 of underwriting and offering costs associated with the March 2026 Offering and payments of $1,048 for employee withholding taxes in lieu of issuing common shares of the
Current wording
During the six months ended June 30, 2026 and 2025, net cash of $40,958 and $576, respectively, was provided by financing activities. Cash provided by financing activities during the six months ended June 30, 2026 was $44,850 of proceeds from the March 2026 Offering, partially offset by $2,844 of underwriting and offering costs associated with the March 2026 Offering and payments of $1,048 for employee withholding taxes in lieu of issuing common shares of the Company (“Common Shares”) earned from the vesting of restricted share unit awards. Cash provided by financing activities during the six months ended June 30, 2025 was $821 of net proceeds under the ATM Program (as defined below) offset by payments of $245 for employee withholding taxes in lieu of issuing Common Shares earned from the vesting of restricted share unit awards.
Previous wording
See “Critical Accounting Estimates and Recent Accounting Pronouncements” under Item 7 of our Annual Report on Form 10-K for the fiscal year ended December 31, 2025 as filed with the SEC.
Current wording
See “Critical Accounting Estimates and Recent Accounting Pronouncements” under Item 7 of our Annual Report on Form 10-K for the fiscal year ended December 31, 2025 as filed with the United States Securities and Exchange Commission (“SEC”).
Previous wording
Cash Costs per ounce of gold produced and AISC per ounce of gold produced are non-U.S. GAAP metrics developed by the World Gold Council intended to improve transparency into the costs associated with producing gold and provide a standard for comparison across the industry. The Company reports Cash Costs and AISC on a per ounce basis and Cash Costs on a per tonne processed basis because we believe these metrics appropriately reflect mining costs over specified periods and the life of mine. The Company reports on Capital Efficiency and Benefit to Cost Ratio because these metrics provide a standard measurement of initial capital efficiency. Similar metrics are used in the gold mining industry as comparative benchmarks of performance.
Current wording
Cash Costs per ounce of gold produced and AISC per ounce of gold produced are non-U.S. GAAP metrics developed by the World Gold Council intended to improve transparency into the costs associated with producing gold and provide a standard for comparison across the industry. The Company reports Cash Costs and AISC on a per ounce basis because we believe this metric appropriately reflects production costs over specified periods and the life of mine. The Company reports on Capital Efficiency and Benefit to Cost Ratio because these metrics provide a standard measurement of initial capital efficiency. Similar metrics are used in the gold mining industry as comparative benchmarks of performance.
Previous wording
Cash Costs consist of the Project’s operating costs, refining costs, the Jawoyn Royalty, and the Wheaton Royalty. The sum of these costs is divided by the corresponding ounces of gold produced or tonnes processed to determine Cash Cost per ounce or per tonne processed metrics, respectively.
Current wording
Cash Costs consist of the Project’s operating costs, refining costs, the Jawoyn Royalty, and the Wheaton Royalty. The sum of these costs is divided by the corresponding ounces of gold produced to determine the Cash Cost per ounce metric.
Previous wording
During the quarter, the Company continued to advance the Mt Todd Gold Project toward development by commencing the process of seeking permit modification approvals, hiring a significant part of the core project management team, and progressing key pre-development optimization in line with recommendations outlined in the Mt Todd FS.
Current wording
The Company continued to move the Mt Todd Gold Project toward development by advancing permit modification approvals, continuing to build executive project execution capabilities, and progressing key pre-development optimizations in line with recommendations outlined in the Mt Todd FS.
Previous wording
The Company filed its first applications for permit modifications, is finalizing other applications, and has initiated studies to provide supporting documentation for others.
Current wording
In the first quarter, the Company filed its initial applications for permit modifications, and in the second quarter, the Company finalized other applications, and initiated studies to provide supporting documentation for others.
Previous wording
A comprehensive metallurgical test program that will evaluate new core obtained from drilling completed in late 2025 and early 2026 is about to begin at ALS facilities in Balcatta, Western Australia. This program is designed to optimize grind
Current wording
A comprehensive metallurgical test is under way at the ALS facilities in Balcatta, Western Australia. This program is designed to optimize grind size and gold recoveries and generate additional metallurgical data that will provide critical
Previous wording
size and gold recoveries and generate additional metallurgical data that will provide critical inputs for the detailed engineering and design of the process plant. Results from the test program are expected in the third quarter of 2026.
Current wording
inputs for the detailed engineering and design of the process plant. Results from the test program are expected in the third quarter of 2026.
Previous wording
The recently concluded wet season in the NT saw approximately 50% more rainfall at Mt Todd than is recorded in a normal wet season. Regionally, the NT experienced considerable flooding as a result of unusually heavy rain received in March. The Company experienced only minor road damage and debris accumulation at the site with no accidents related to the flooding and road closures. The excessive rains resulted in greater accumulation of water in the Batman pit and tailings storage facility. The Company is pumping water from the tailings facility and has filed an application to treat the water in the Batman pit later this year and to commence discharging treated water, as it has in past years, during the next wet season.
Current wording
The 2025-26 wet season in the NT saw approximately 50% more rainfall at Mt Todd than is recorded in a normal wet season. The excessive rains resulted in greater accumulation of water in the Batman pit and tailings storage facility. The Company has filed an application to treat the water in the Batman pit later this year and to commence discharging treated water, as it has in past years, during the next wet season.
Previous wording
Vista expects to incur expenditures of approximately $3,900 for its Mt Todd site management, development and environmental stewardship activities and $7,100 for non-recurring project program costs for the ensuing 12 months following March 31, 2026.
Current wording
Vista expects to incur expenditures of approximately $9,700 for its recurring operating activities for Mt Todd site management, development and environmental stewardship and $13,900 for non-recurring project program costs for the ensuing 12 months following June 30, 2026.
Rearranged current paragraphs (3)
Current report — wording carried from elsewhere
for informational purposes only. The Mineral Resources and Mineral Reserves for the NI 43-101 Report are the same as the Mineral Resources and Mineral Reserves for the S-K 1300 Report.
Current report — wording carried from elsewhere
Exploration, property evaluation and holding costs were $2,504 and $1,784 for the three months ended June 30, 2026 and
Current report — wording carried from elsewhere
A geotechnical review is also in progress, with drilling and geotechnical mapping in the Batman pit nearing completion. The program is designed to assess the opportunity to steepen the west pit wall, reduce stripping and potentially convert additional mineral resources to mineral reserves.
Rearranged previous paragraphs (1)
Previous report — wording carried elsewhere
Company (“Common Shares”) earned from the vesting of restricted share unit awards. Cash provided by financing activities during the three months ended March 31, 2025 was $269 of net proceeds under the ATM Program (as defined below) offset by payments of $245 for employee withholding taxes in lieu of issuing Common Shares earned from the vesting of restricted share unit awards.