DENVER (Yosefardi) – Vista Gold Corp. has signed a binding share purchase agreement to convert its interest in the Awak Mas gold project in Sulawesi, Indonesia into a net smelter return royalty on the project.
The Awak Mas Project is indirectly held through a wholly owned subsidiary of the Company, Vista Gold (Barbados) Corp. The transaction is expected to close on or about December 16, 2013.
Frederick H. Earnest, President and Chief Executive Officer, said “We are pleased that One Asia has demonstrated an ability to advance the Awak Mas Project, and to operate effectively in Indonesia. With One Asia poised to perfect their 80% earn-in at the Awak Mas Project, Vista would have been required to reimburse One Asia for certain expenses incurred over the course of the last four years and begin to fund 20% of the ongoing project expenditures.”