07:29 AM EDT, 03/13/2024 (MT Newswires) -- Vista Gold Corp. ( VGZ ) released Wednesday the results of an updated feasibility study for the Mt Todd gold project in Australia's Northern Territory.

The study generated an after-tax net present value of US$1.13 billion based on a 5% discount, an increase of US$131.5 million from the 2022 feasibility study.

The company also outlined a 20.4% internal rate of return and initial capital requirements of US$1.08 billion, up by US$138 million from the previous study.

"Project economics are approximately the same or slightly better than reported two years ago, inclusive of cost increases that have affected the entire gold mining sector," President and CEO Frederick Earnest said.

Vista said the study results did not change its strategy for Mt Todd as it continues to work with CIBC Capital Markets to identify interest for the project, with a focus on a transaction "that maximizes shareholder value."

The company jumped 5.7% at last look in US pre-market trading after dropping 7.4% in Canada yesterday.