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The Market Online
a day ago
- Business
- The Market Online
New study could unlock Vista Gold's Mt Todd Projects' full potential
By Peter Kennedy Vista Gold Corp. (TSX:VGZ) is generating renewed interest in its Mt Todd gold project in Australia by completing a new feasibility study that will dramatically reduce the cost of development. (Source: Resource World Magazine Inc.) The new feasibility study (FS), which is expected to be released in July 2025, will be an update on an earlier FS completed in 2022, with material project costs updated in 2024, demonstrating strong economics for development of 50,000 tonnes per day, nominally 17.5 million tonnes per annum operation. The 2024 study pegged the development cost at over $1.0 billion, a target that deterred major gold industry players who might have been mulling a joint venture interest. In December 2024, Vista launched a new Mt Todd feasibility study that aims to increase the reserve grade to 1 g/t gold using a higher cut-off grade and reduce the initial capex by 60% to about $400 million while achieving annual gold production ranging from 150,000 to 200,000 ounces from throughput rate of 15,000 tonnes per day or 5.2 million tonnes annually. By using contract mining, third-party power generation, and construction practices commonly used in Australia, the company believes there is an opportunity to maintain high capital efficiency at this project scale. 'We believe the release of the 15,000 tpd feasibility study results will be well-timed in the current gold cycle and serve as a catalyst to accelerate value creation,'' said Vista Gold President and CEO Fred Earnest. 'Mt Todd has tremendous leverage to gold. If prices were to go higher, it would be a tremendous thing for shareholders.' Earnest has been CEO since 2012 and a senior officer at Vista since 2006. (Source: Resource World Magazine Inc.) Vista has previously said its 100% owned Mt Todd project is positioned to be one of Australia's largest and lowest cost new gold producers. Located in Northern Territory, about 250 kilometres southeast of Darwin, Mt Todd contains more than 7.8 million ounces of gold resources in the measured and indicated categories. The project is in an area that the company has described as one of the world's most attractive mining jurisdictions. Former owner/operator Pegasus Gold built an 8.0 million tonnes per year flotation carbon-in-leach plant to improve recoveries from the Batman Deposit that were achieved by a heap leach operation. The plant was commissioned in November 1996 but was shut down in mid-1997 when the price of gold fell below US$300 an ounce. Vista Gold acquired Mt Todd in 2006 through a series of contracts with Pegasus Gold Australia, the Jawoyn Aboriginal Association Corp. (JAAC), the Northern Territory Government (NGT). The JAAC are the freehold owners of the surface land in the area of the Mt Todd project. Completion of the new 15,000 tonne per day feasibility study is key to creating long term value for shareholders. It aims to demonstrate an achievable path for project development through a joint venture partnership. However, the company believes the project could be advanced on a stand-alone basis under the right market conditions. (Source: Resource World Magazine Inc.) Speaking in an interview from his Colorado office, Earnest said the Mt Todd project has a lot going for it, including existing infrastructure that he believes will reduce the development risk and shorten the production timeline. They include paved roads to the mine site, connection to the electric grid and a natural gas pipeline to the site. 'Mt Todd is a permitted, ready-to-build development opportunity in the current environment of a strong gold market and diminishing major deposit discoveries,'' Earnest said. However, he said the company has had to grapple with the fact that major industry players tend to choose projects that offer immediate cash flow. 'Presently this suggests that producers view operational risk as being easier to overcome than development risk,'' he explained. However, it is worth noting that ready-to-build projects like Mt Todd are positioned as valuable assets in an environment of decreasing major gold discoveries. Since 2020, there have been only five major discoveries with a total of 17 million ounces of gold, according to S&P Gold Market Intelligence, August 8, 2024. Recent discoveries are scarce and smaller in size with an average of 3.5 million ounces compared to the 5.5-million-ounce average from 2010 to 2019. As a result, Earnest takes the view that scarcity of new discoveries will drive greater focus on optimizing existing projects and acquiring advanced stage projects. Watching the situation closely will be Wheaton Precious Metals Corp. (WPM-TSX, WPM-NYSE) which agreed in December 2023, to spend $20 million to acquire a royalty interest in the Mt Todd project. Under the agreement, Wheaton pledged to acquire a royalty equal to 1.0% of gross revenue from the sale or disposition of minerals from the project, subject to certain adjustments. In return for the asset, Wheaton agreed to provide Vista with $20 million to advance Mt Todd and for general corporate purposes. The royalty is at a rate of 1.0% of gross revenue from the project if completion objectives for the project are achieved by April 1, 2028. Thereafter, the royalty shall increase annually at a rate of 0.13% to a maximum of 2.0%. Any annual increases after April 1, 2028 shall be reduced on a pro rata basis to the extent that Mt Todd has initiated operations but has yet to achieve agreed upon completion objectives. The Mt Todd project contains proven and probable reserves of 280.4 million tonnes with a grade of 0.77 g/t gold or 6.98 million ounces of gold. The measured and indicated resource stands at 299.1 million tonnes with a grade 0.82 g/t gold or 7.87 million ounces. That material is located in the Batman deposit, Heap Leach pad, and Quigley's deposit. Measured and indicated resources in the Batman Deposit currently stand at 7.36 million ounces of grade 0.82 g/t gold. The company has said it sees district-scale exploration potential on its 1,581 square kilometres of exploration licenses. It said prior drilling within the boundaries of its mining licenses identified four promising targets on the 24-kilometre Batman Driffield Trend with potential to add 1.8 million to 3.5 million gold ounces to the resource base. It is expected that the new feasibility study will be accompanied by a revised resource estimate that considers the higher cut-off grade. On May 28, 2025, the shares traded at US$1.22 on NYSE American in a 52-week range of US$1.30 and US$0.46. Resource World Magazine Inc. has prepared this editorial for general information purposes only and should not be considered a solicitation to buy or sell securities in the companies discussed herein. The information provided has been derived from sources believed to be reliable but cannot be guaranteed. This editorial does not take into account the readers investment criteria, investment expertise, financial condition, or financial goals of individual recipients and other concerns such as jurisdictional and/or legal restrictions that may exist for certain persons. Recipients should rely on their own due diligence and seek their own professional advice before investing. This is third-party provided content issued on behalf of Vista Gold Corp., please see full disclaimer here.
Daily Tribune
27-05-2025
- Health
- Daily Tribune
Health Teams Hit Bahrain's biggest Mall
TDT | Manama Visitors to Avenues Mall recently had the chance to get their blood pressure checked on the spot, thanks to a joint hypertension awareness campaign by American Mission Hospital and RCSI Medical University of Bahrain. The campaign transformed a retail space into a health checkpoint, where doctors, nurses, and student volunteers offered free screenings for blood pressure, blood sugar, and BMI, along with lifestyle-based medical advice. The initiative aimed to alert residents to the risks of high blood pressure, a condition often without symptoms but potentially life-threatening if left unchecked. Bringing care closer The event, held ahead of World Hypertension Day, ran through May 24th and focused on reaching people in everyday settings. 'By engaging with the public and providing basic screenings and guidance for hypertension, which increases the risk of cardiovascular diseases, we strive to make a tangible difference,' said H.E. Dr Jameela AlSalman, Director of Quality and Infection Disease at American Mission Hospital and a Member of the Shura Council. Alongside doctors and nurses, medical and nursing students from RCSI Bahrain played an active role in welcoming visitors and conducting screenings, offering both service and support under academic supervision. Joint mission for health Peter Kennedy, Chief Operating Officer of American Mission Hospital, and Dr Eman Tawash, Deputy Head of the School of Nursing and Midwifery at RCSI Bahrain, were present at the launch. Professor Kathryn Strachan, Head of the Nursing School, highlighted the shared vision between the two institutions. 'By providing healthcare education, we aim to empower individuals to manage their health proactively and mitigate potential risks associated with hypertension.' Focus on prevention Experts warn that hypertension can go unnoticed for years. Although usually asymptomatic, it may cause headaches, dizziness, or blurred vision. Risk factors include poor diet, stress, lack of exercise, and genetic predisposition. Organisers say that regular screenings and early interventions are key to avoiding more serious complications down the line. The campaign underlined a simple message - good health can begin anywhere, even during a casual walk through a mall.
BreakingNews.ie
19-05-2025
- BreakingNews.ie
Man (24) jailed for murdering 'charitable' retiree who took him into his home
A 24-year-old man has been given the mandatory sentence of life in prison for murdering a "thoughtful, charitable and generous" retiree who had taken both the defendant and his mother into his home after learning of their struggles with homelessness. In April, a jury at the Central Criminal Court unanimously rejected the defence's claim that Brian Ibe was entitled to a verdict of not guilty by reason of insanity and convicted him of the murder of Peter Kennedy, who had just turned 65 and was retired from the probation services. Advertisement A consultant psychiatrist had told the jury that the first time Ibe reported hearing voices in his head was over a year after he was remanded in custody, on the same day his awareness of the possibility of the special verdict was first documented. It was Ibe's second trial for the murder, with his first having collapsed in July last year due to a legal disagreement on the classification of certain defence witnesses as experts. Only witnesses classified as experts are allowed to give their opinions in evidence, as opposed to regular witnesses, who can only testify to factual matters. Ibe, of no fixed abode and formerly of Moore Park, Newbridge, Co Kildare, had pleaded not guilty by reason of insanity to the murder of Mr Kennedy between April 28th and May 12th, 2020, both dates inclusive, in Newbridge. He had also pleaded not guilty by reason of insanity to assault causing harm to Garda Brendan O'Donnell at Newbridge Garda Station on or about April 29th, 2020. Advertisement At the sentencing in the Central Criminal Court on Monday, the sister of the deceased, Anne-Marie Kennedy delivered a victim impact statement, in which she said that the family and wider network continue to be shocked and traumatised by her brother's murder. She described Peter as 'a thoughtful, charitable and generous man' who was always available to help his community and freely gave of his time. 'He was good humoured and positive, always had a smile and was always up for a chat,' she said, adding that this 'kind and generous man' suffered 'a cruel and terrifying end'. Ms Kennedy thanked all involved in the prosecution of the case, including the gardaí who were with her brother after he was attacked, administering first aid and holding his hand as he slowly lost consciousness. Advertisement She said that Peter's extended family, friends and work colleagues continue to miss him, and he will not be forgotten. Ms Justice Melanie Greally said it had been an unusual trial in many respects, as a jury would not normally hear so much evidence about the deceased, but multiple persons known to Mr Kennedy had all given accounts of his decency and generosity. She said that the court's hands were tied regarding sentencing, but she noted the absence of any true remorse from Ibe for his actions. The trial heard that Ibe's mother, Martha Ibe, had an issue with homelessness and came to live with Mr Kennedy, with her son also moving into Mr Kennedy's home around September 2019, when he was 19. Advertisement Problems arose prior to Christmas of 2019, with disputes between Mr Kennedy and the defendant, so Ibe left the house and came to Dublin, where he resided at a hostel run by the Peter McVerry Trust in Walkinstown. On April 28th, 2020, the defendant left the hostel and got a taxi to Newbridge, where he entered Mr Kennedy's house through the rear after smashing a window. Ibe's mother, who was present at the time, gave evidence that her son attacked Mr Kennedy with what she believed was a knife, making 'jabbing motions'. She left to get assistance, and when gardaí arrived they found Mr Kennedy on the floor upstairs with serious head injuries lying in a pool of blood. He was brought to Beaumont Hospital but died from his injuries on May 12th, 2020. State pathologist Dr Heidi Okkers found significant blunt force had been used to the side of Mr Kennedy's head, which was the result of kicking or the use of a blunt object, with the cause of death being traumatic head injuries. Dr Stephen Monks, a consultant psychiatrist, told the jury that he diagnosed Ibe with schizophrenia and found that at the time of the assault, he was psychotic. Advertisement Dr Gaurav Malhan also diagnosed Ibe with schizophrenia and found that as a result of his psychosis, he was unable to refrain from assaulting Mr Kennedy. However, Dr Mary Davoren, a psychiatrist called by the prosecution, disagreed with the schizophrenia diagnosis. The threats Ibe made to Mr Kennedy were goal-directed and rational, she said, and not evidence of the development of schizophrenia. The jury of six men and six women deliberated for just under seven hours before returning their unanimous verdict of guilty on both counts, rejecting the defence claim that Ibe was not guilty by reason of insanity. Ibe was also convicted of the assault on Garda O'Donnell on April 29th, 2020. Counsel for the Director of Public Prosecutions, Paul J Carroll SC said that when Ibe was detained in Newbridge on that date, gardaí attempted to take samples including DNA, but he became agitated and tried to leave the station. Garda O'Donnell tried to ensure he did not leave, so Ibe threw a punch with his right hand, which connected with the left side of the garda's nose below the eye socket. Garda O'Donnell began to bleed from the injury and experienced pain to the nasal bone, with light bruising under his eye and on the nose. He suffered headaches for two months and was on sick leave for up to four weeks. On the assault charge, Ms Justice Greally imposed 12 months in prison. On the murder charge, Ms Justice Greally imposed the mandatory sentence of life in prison, backdated to the date Ibe went into custody, April 29th, 2020. The trial heard from friends of Mr Kennedy, who gave evidence of their belief that Martha and Brian Ibe were taking advantage of the victim's good nature. In the run-up to Christmas 2019, Rita Swords said Mr Kennedy was 'dishevelled', 'unkempt' and hungry. 'He was just a broken man, he just wasn't himself,' she said. She said Brian Ibe called Mr Kennedy's phone and demanded a meal from McDonalds. She said Mr Kennedy was 'panicking' and 'terrified' when this happened. Linda Mannion said in December 2019, Mr Kennedy told her that Ibe would come into his bedroom and shout at him for money. "He would be woken up by Brian shouting, demanding money off him." Damian Molyneaux recalled Mr Kennedy, whom he described as his best friend, telling him that Brian Ibe twice threatened to kill him, saying he would "slit his throat".
Irish Times
19-05-2025
- Irish Times
Man gets life for murder of ‘charitable' retiree who gave both him and mother shelter
A 24-year-old man has been given the mandatory sentence of life in prison for murdering a 'thoughtful, charitable and generous' retiree who had taken both the defendant and his mother into his home after learning of their struggles with homelessness. In April, a jury at the Central Criminal Court unanimously rejected the defence's claim that Brian Ibe was entitled to a verdict of not guilty by reason of insanity and convicted him of the murder of Peter Kennedy, who had just turned 65 and was retired from the probation services. A consultant psychiatrist had told the jury that the first time Ibe reported hearing voices in his head was over a year after he was remanded in custody, on the same day his awareness of the possibility of the special verdict was first documented. It was Ibe's second trial for the murder, with his first having collapsed in July last year due to a legal disagreement on the classification of certain defence witnesses as experts. Only witnesses classified as experts are allowed to give their opinions in evidence, as opposed to regular witnesses, who can only testify to factual matters. READ MORE Ibe, of no fixed abode and formerly of Moore Park, Newbridge, Co Kildare, had pleaded not guilty by reason of insanity to the murder of Mr Kennedy between April 28th and May 12th 2020, both dates inclusive, in Newbridge. He had also pleaded not guilty by reason of insanity to assault causing harm to Garda Brendan O'Donnell at Newbridge Garda station on or about April 29th 2020. At the sentencing in the Central Criminal Court on Monday the sister of the deceased, Anne-Marie Kennedy delivered a victim impact statement, in which she said that the family and wider network continue to be shocked and traumatised by her brother's murder. She described Peter as 'a thoughtful, charitable and generous man' who was always available to help his community and freely gave of his time. 'He was good humoured and positive, always had a smile and was always up for a chat,' she said, adding that this 'kind and generous man' suffered 'a cruel and terrifying end'. Ms Kennedy thanked all involved in the prosecution of the case, including the gardaí who were with her brother after he was attacked, administering first aid and holding his hand as he slowly lost consciousness. She said that Peter's extended family, friends and work colleagues continue to miss him, and he will not be forgotten. Ms Justice Melanie Greally said it had been an unusual trial in many respects, as a jury would not normally hear so much evidence about the deceased, but several people known to Mr Kennedy had all given accounts of his decency and generosity. She said that the court's hands were tied regarding sentencing, but she noted the absence of any true remorse from Ibe for his actions. The trial heard that Ibe's mother, Martha Ibe, had an issue with homelessness and came to live with Mr Kennedy, with her son also moving into Mr Kennedy's home around September 2019, when he was 19. Problems arose before Christmas of 2019, with disputes between Mr Kennedy and the defendant, so Ibe left the house and came to Dublin, where he resided at a hostel run by the Peter McVerry Trust in Walkinstown. On April 28th 2020, the defendant left the hostel and got a taxi to Newbridge, where he entered Mr Kennedy's house through the rear after smashing a window. Ibe's mother, who was present at the time, gave evidence that her son attacked Mr Kennedy with what she believed was a knife, making 'jabbing motions'. She left to get assistance, and when gardaí arrived they found Mr Kennedy on the floor upstairs with serious head injuries lying in a pool of blood. He was brought to Beaumont Hospital but died from his injuries on May 12th 2020. Dr Stephen Monks, a consultant psychiatrist, told the jury that he diagnosed Ibe with schizophrenia and found that at the time of the assault, he was psychotic. Dr Gaurav Malhan also diagnosed Ibe with schizophrenia and found that as a result of his psychosis, he was unable to refrain from assaulting Mr Kennedy. However, Dr Mary Davoren, a psychiatrist called by the prosecution, disagreed with the schizophrenia diagnosis. The threats Ibe made to Mr Kennedy were goal-directed and rational, she said, and not evidence of the development of schizophrenia. The jury of six men and six women deliberated for just under seven hours before returning their unanimous verdict of guilty on both counts, rejecting the defence claim that Ibe was not guilty by reason of insanity. Ibe was also convicted of the assault on Garda O'Donnell on April 29th 2020. Counsel for the Director of Public Prosecutions, Paul J Carroll SC said that when Ibe was detained in Newbridge on that date, gardaí attempted to take samples including DNA, but he became agitated and tried to leave the station. Garda O'Donnell tried to ensure he did not leave, so Ibe threw a punch with his right hand, which connected with the left side of the garda's nose below the eye socket. On the assault charge, Ms Justice Greally imposed 12 months in prison. On the murder charge, Ms Justice Greally imposed the mandatory sentence of life in prison, backdated to the date Ibe went into custody, April 29th 2020. The trial heard from friends of Mr Kennedy, who gave evidence of their belief that Martha and Brian Ibe were taking advantage of the victim's good nature. In the run-up to Christmas 2019, Rita Swords said Mr Kennedy was 'dishevelled', 'unkempt' and hungry. 'He was just a broken man, he just wasn't himself,' she said. She said Brian Ibe called Mr Kennedy's phone and demanded a meal from McDonald's. She said Mr Kennedy was 'panicking' and 'terrified' when this happened. Damian Molyneaux recalled Mr Kennedy, whom he described as his best friend, telling him that Brian Ibe twice threatened to kill him, saying he would 'slit his throat'.
