Artemis to buy Vista for $427M in Australia push

AI desk brief

Artemis Gold agreed to buy Vista Gold in a C$427 million all-share deal, adding the permitted Mt Todd gold project in Australia to its growth pipeline and creating a pathway to more than 1 million oz. of annual production over time. The deal values Vista at a 29% premium to its 20-day VWAP, requires no cash or new debt, and is expected to close in January pending shareholder, court and regulatory approvals.

Mt Todd is a feasibility-stage asset with 9.1 million oz. measured and indicated gold resources and a 2025 study pegging after-tax NPV at $1.1 billion at a $2,500/oz gold price. Artemis said Blackwater remains its near-term priority, with the B.C. mine on pace for 265,000-290,000 oz. this year and a stage-2 expansion under review to lift output above 500,000 oz. annually.