Good day, ladies and gentlemen. Welcome to the Vista Gold's Third Quarter 2015 Financial Results and Update on Recent Activities Conference Call. At this time, all participants are in a listen-only mode. Following the presentation, we will conduct a question-and-answer session. [Operator Instructions] As a reminder, this conference is being recorded today, Monday, November 9, 2015. It is now my pleasure to introduce Vista's President and CEO, and your host, Mr. Fred Earnest. Please go ahead, Mr. Earnest.

Thank you, Elea [ph]. Good afternoon, ladies and gentlemen. Thank you for joining Vista Gold Corp's third quarter 2015 financial results and corporate update conference call. I'm pleased to be joined on this call by Jack Engele, our Senior Vice President and CFO; and Connie Martinez, our Director of Investor Relations. As reported in our last conference call, we have benefited significantly from efforts that started more than a year ago. Approximately USD10.2 million has been added to treasury as a result of funds received in the second and third quarters of this year from the Australian government under a research and development incentive program. We believe we are able to fund our currently planned activities into 2018, and are now able to shift our team's focus from basic survival to value creation strategies. We remain focused on the Mt Todd gold project in Australia, and are working to obtain the authorization required under the Environmental Protection and Biodiversity Conservation Act of 1999 from the federal government, as it relates to the Gouldian Finch. The process of completing the studies required to file the request for authorization has take a little longer than anticipated, and we now expect that this authorization will be granted in early 2016. We continue to closely monitor the ongoing weakness in many macroeconomic factors, foreign exchange rates, soft demand for mining and processing equipment, et cetera, and continue to observe positive offsets for the Mt Todd project, compared to the lower gold price affecting the sector generally. We have completed some proof-of-concept drilling to test a couple of exploration targets, and are currently evaluating the geologic significance of the results. In the course of this call, we will be making forward-looking statements. These statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of Vista to be materially different from any future results, performance or achievements expressed or implied by such statements. Please refer to our Form 10-Q for a detailed discussion of risks and other important factors that could cause actual results to differ materially from those in our forward-looking statements. I will now turn the time over to Jack Engele, and following his discussion of the financial results, I will review our activities at the Mt Todd gold project.

Thank you, Fred, good afternoon everyone. I'll start with our balance sheet and liquidity. Our working capital totaled approximately $16 million at September 30, 2015. This includes cash and short term investments of $14.7 million. Our short term investments are currently comprised of U.S. T-bills. Our cash in T-bill position has increased by about $11 million since December 31, 2014, mainly because of the $10.2 million net in Australian R&D rebates that we received this year, and about $6.3 million in net proceeds from the sale of non-core assets during the first quarter of this year. We continue to be debt free. Turning to our statement of income and loss for September 30, 2015, for the quarter we reported net income of about $500,000 or about $0.01 a share. The income arises from the$4.4 million net R&D tax rebate received in July related to qualifying expenditures we made in fiscal 2013. Under U.S. GAAP, this rebate is accounted for as a grant as opposed to an income tax recovery. Expenses in the period included operating expenses of about $2.9 million, an unrealized mark-to-market loss of about $0.6 million on our remaining 7.8 million Midas shares, and about $0.3 million foreign exchange loss related to the weak Australian dollar. The $2.9 million of operating expenses for the second quarter included $0.9 million for site management costs at our Mt Todd gold project, $0.4 million mainly related to the proof-of-concept drug programs that Fred mentioned, and a non-cash $0.6 million value added tax receivable write down associated with our Mexican subsidiary, which has been denied by the Mexican tax authorities, and corporate G&A costs of about $0.8 million. Looking ahead at Mt Todd, our fixed costs, that is, those expenditures necessary to preserve our property rights, and to meet all of our…

Thank you, Jack. This has been an exceptional year at Mt Todd for water management. Coming out of the dry season, pond levels are at the lowest levels in year. The El Nino weather patterns prevailing across the Pacific and Southeast Asia point toward a wet season with less-than-normal precipitation. During the dry season, our team has experimented with low cost enhanced evaporation methods, and we are recommending to the NT government that in future years this becomes part of our dry season operating practice. As indicated in my introductory remarks, our request for an authorization under the Environmental Protection and Biodiversity Conservation Act 1999 with respect to the Gouldian Finch is a little behind schedule. The delays are related to additional field studies, request for data over a broader coverage area, and our attempt to use digital mapping techniques to gain the required data. We are working closely with SLR Consulting to satisfy all of the requirements for the federal environmental protection authority, and now expect to file our request for authorization before the end of the year. Due to traditional holidays in Australia, at the end of the year we now expect the authorization to be granted in early 2016. Successful achievement of this authorization will mark the receipt of all critical environmental permits for the Mt Todd project. You may recall that we control over 1100 square kilometers of explorations licenses contiguous to the Mt Todd mining license area. We have completed proof-of-concept drilling programs at our Wandi [ph] and Snowdrop targets on the exploration licenses, a total of six core holes were drilled, three on each target, 280 meters at Wandi [ph], and 750 meters at Snowdrop to test the targets, identified based on geophysical and soil sampling anomalies. One of the challenges of exploration in…

Very well, Elea [ph]. If there are no questions, we'll now pause for just a moment, but if there are no questions on the call today, now we'd like to thank those who have joined the call, and once again reiterate that without our improved balance sheet and our discipline with regards to expenditures, we believe that we're in a position to fund our plant activities into 2018, and we look forward to providing an update on the activities from the fourth quarter early next year. With that, with there being no questions, we wish everyone a very good afternoon, and thank everyone for joining the call.

Ladies and gentlemen, this concludes the conference call for today. Thank you for your participation. You may now disconnect your line, and have a great day.