Vista Gold (TSX: VGZ; NYSE-AM: VGZ) has recast its Mount Todd project in Australia as a single, “right-sized” mine aimed at cutting upfront capital by roughly 60%, CEO Fred Earnest said in an interview.
The company launched a new feasibility study in December focused on a 15,000-tonnes-per-day operation rather than the prior 50,000-tonnes-per-day design. That shift targets initial capital of about $400 million (C$542.5 million) and a reserve grade of 1 gram gold per tonne, down from the 2024 study’s $1.03 billion capex and grading 0.77 gram gold.
“What we’re doing with Mount Todd is really a paradigm shift,” Earnest said in an interview, referring to the scaled-back throughput, higher cut-off grade and use of contract mining to simplify execution. The new plan rests on average output of 150,000 to 200,000 oz. gold per year over more than 25 years, preserving the option to expand later.
Mt Todd arrives with all major federal and Northern Territory permits in hand. Vista expects that the smaller footprint will require just a few minor approvals.
This sets the project apart in Australia, where permits often take a long time. It positions Vista as one of the few large gold assets that is truly “ready to build,” as Earnest said.
Watch the full interview below with host Devan Murugan. Joint venture videos are paid-for content in arrangement with The Northern Miner.
