Vista Gold Sells Bolivian Mining Assets to Republic Gold for $3 Million
Mining company Vista Gold Corp. said Monday it sold its Vista Gold (Antigua) Corp., which owns Bolivian mining assets, to Republic Gold Ltd. for $3 million.
Republic will pay in three $1 million installments, the first due upon start of commercial production at Amayapampa, followed by a $1 million payment on each of the first and second anniversaries of the start of commercial production.
In addition, Republic will pay Vista a royalty on the gold produced by or on behalf of Republic from the Amayapampa project.
Vista retains first right of refusal if Republic decides to sell the property and also retains a right to re-acquire the property if Republic or Vista Gold Antigua have not moved to close financing under a project financing facility within five years.
