Vista Gold Corporation (VGZ)
Q2 2012 Earnings Call
August 10, 2012 11:00 AM ET
Fred Earnest – President and CEO
Jack Engele – SVP and CFO
Marco Rodriguez – Stonegate Securities
Brian Post – ROTH Capital Partners
Jeff Wright – Global Hunter Securities
Adrian Day – Adrian Day Asset Management
Joseph Reagor – Global Hunter Securities
Good day, ladies and gentlemen. Welcome to Vista Gold Corp’s second quarter financial results conference call with management. At this time, all participants are in a listen-only mode. Following the discussion, we will conduct a question-and-answer session. (Operator Instructions)
As a reminder, this conference is being recorded. Today is Friday, August 10, 2012. It is now my pleasure to introduce your host, Mr. Fred Earnest, President and Chief Executive Officer. Please go ahead, Mr. Earnest.
Thank you, Valerie (ph). Good morning, ladies and gentlemen. Welcome to Vista Gold Corp’s second quarter results and corporate update conference call. I am pleased to be joined on this call by Jack Engele, Senior Vice President and CFO who joined our team at the end of May.
In general terms, the last six months have been very difficult for the junior gold miner sector with explorers and developers both suffering significant devaluations. I am pleased to report that Vista has fared much better. Since January 1, 2012, we have seen a 3.6% decrease in the value of our shares compared to a 1.2% increase in the price of gold since the start of the year.
And since July 1, 2011, we have seen an increase of 12.7% compared to a 9% increase in the price of gold for the same period. While we are pleased to be outperforming most of our peers, we are not satisfied with our share price and continue to work to increase shareholder value.