Why did VGZ report zero EPS in recent quarters?

Vista Gold Corporation (VGZ) reported zero EPS in recent quarters due to a combination of strategic transactions and operational efficiencies that positively impacted its financial performance.

1. **Strategic Transactions**: VGZ's financial turnaround in Q4 2024 was driven by a $16.9 million gain from a royalty transaction with Wheaton Precious Metals. This one-time transaction significantly boosted the company's net income to $11.2 million, reversing the net loss of $6.6 million reported in the same period of the previous year.
2. **Operational Efficiencies**: The company's focus on reducing capital costs and enhancing project feasibility is evident in its plans for the Mt. Todd project, aiming for a 60% reduction in capital costs by mid-2025. These efforts indicate a strategic shift towards cost management and project optimization, which may have temporarily impacted profitability as the company realigned its financial structure.

In summary, VGZ's zero EPS in recent quarters is a result of strategic transactions and operational efficiencies that have fundamentally improved the company's financial health and profitability.