Viva Gold Corp (TSX-V:VAU, OTCQB:VAUCF) CEO Jim Hesketh talked with Proactive's Stephen Gunnion about the latest progress on the Tonopah Gold Project during the Resourcing Tomorrow 2025 conference.
Hesketh explained that the project, located near Tonopah in Nevada, is at an advanced stage with roughly 90% of its resource classified as measured and indicated. He noted, “It’s ready to go into feasibility study and permitting,” outlining Viva Gold's intention to fast-track the asset toward production. Hesketh highlighted the favourable regulatory environment in the US, adding that this moment offers a “unique permitting window.”
He said Viva Gold recently updated the project’s resource and economic model in response to rising gold prices. Rather than expanding the resource, the company chose to conduct infill drilling to focus on advancing the project to the next stage.
He explained that the economics of the project have significantly improved, citing the increase in gold prices. “At a $4,000 gold price now, you're talking about $1.6 billion in gross revenue,” Hesketh said. With a forecasted all-in sustaining cost of $1,300, the project could generate strong cash flow and support rapid growth.
Viva Gold is also considering a hub-and-spoke strategy for regional development, leveraging metallurgical facilities once in place.
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