Amayapampa -- Bolivia Back in April 2008, Vista sold the prospective Gold mine, at Amayapampa, Bolivia, to Republic Gold Limited ASX:RAU an Australian mining company.
Vista were to receive $3 million; when the mine started production $1m and a further $1m on each of the following years. A 3% production royalty to be paid if gold reached $750 per oz.
If Republic Gold decided to sell Amayapampa then Vista Gold would have first right of refusal, or re-acquire the property if Republic failed to get a full financing agreement to develop the mine by April 2013.
Republic Gold have announced in the Bolivian Press and on the Australian Securities Exchange ASX that they have a non-binding agreement to sell Amayapampa - announced 20th April 2012. They are bound to secrecy and cannot name the party concerned until 20th May 2012.
Republic Gold have expended $35m on drilling and surveying Amayapampa that has an indicated resource of over 1 million ounces of gold. [A drilling program completed in March 2012 and of which no results have been announced, is not included]
Vista Gold Corporation do not appear to have announced whether they intend to re-acquire Amayapampa. Any announcement might well affect the share price of Vista with the expected cost of developing Amayapampa at $130 to $140 million.