Vista Gold (VGZ) 10-Q 25 Jul 18 2018 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2018	Jul. 24, 2018
Document and Entity Information [Abstract]
Entity Registrant Name	VISTA GOLD CORP
Entity Central Index Key	783,324
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q2
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2018
Entity Common Stock, Shares Outstanding		99,569,949
Entity Current Reporting Status	Yes

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 2,598	$ 1,431
Short-term investments (Note 3)	8,978	15,144
Other investments, at fair value (Note 3)	5,774	3,746
Other current assets	341	794
Total current assets	17,691	21,115
Non-current assets:
Mineral properties (Note 4)	2,471	2,471
Plant and equipment, net (Note 5)	7,360	7,555
Total non-current assets	9,831	10,026
Total assets	27,522	31,141
Current liabilities:
Accounts payable	109	830
Accrued liabilities and other	399	986
Provision for environmental liability	241	242
Total current liabilities	749	2,058
Total liabilities	749	2,058
Commitments and contingencies – (Note 7)
Shareholders' equity:
Common shares, no par value - unlimited shares authorized; shares outstanding: 2018 - 99,569,949 and 2017 - 99,412,007 (Note 6)	456,614	456,053
Accumulated other comprehensive loss		(2)
Accumulated deficit	(429,841)	(426,968)
Total shareholders' equity	26,773	29,083
Total liabilities and shareholders' equity	$ 27,522	$ 31,141

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2018	Dec. 31, 2017
Shareholders' equity:
Common Shares, par value	$ 0	$ 0
Common shares outstanding	99,569,949	99,412,007

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME/(LOSS) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Revenues	$ 0	$ 0	$ 0	$ 0
Operating expense:
Corporate administration	(888)	(775)	(2,311)	(1,796)
Depreciation and amortization	(12)	(149)	(240)	(318)
Gain on disposal of mineral property, net (Note 4)				358
Total operating expense	(1,955)	(2,232)	(5,151)	(4,816)
Non-operating income/(expenses):
Gain/(loss) on other investments (Note 3)		(468)	2,028	(780)
Interest income	68	29	250	79
Other income/(expense)	(36)	(11)	2	(12)
Total non-operating income/(expense)	32	(450)	2,280	(713)
Net loss	(1,923)	(2,682)	(2,871)	(5,529)
Other comprehensive loss:
Unrealized fair value decrease on available-for-sale securities		(15)		(21)
Comprehensive loss	$ (1,923)	$ (2,697)	$ (2,871)	$ (5,550)
Basic:
Weighted average number of shares outstanding (in shares)	99,547,531	98,196,308	99,496,641	98,045,484
Net loss per share, Basic (in dollars per share)	$ (0.02)	$ (0.03)	$ (0.03)	$ (0.06)
Diluted:
Weighted average number of shares outstanding (in shares)	99,547,531	98,196,308	99,496,641	98,045,484
Net loss per share, Diluted (in dollars per share)	$ (0.02)	$ (0.03)	$ (0.03)	$ (0.06)
Mineral, Exploration [Member]
Operating expense:
Exploration, property evaluation and holding costs	$ (1,055)	$ (1,308)	$ (2,600)	$ (3,060)

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Common Stock [Member]	Accumulated Deficit [Member]	Accumulated Other Comprehensive Income/(Loss) [Member]	Total
Balances, beginning of period at Dec. 31, 2016	$ 455,443	$ (414,933)	$ 15	$ 40,525
Balances, beginning of period (in shares) at Dec. 31, 2016	97,786,608
Shares issued (RSUs vested, net of shares withheld)	$ (264)			(264)
Shares issued (RSUs vested, net of shares withheld) (in shares)	1,625,399
Stock-based compensation	$ 874			874
Other comprehensive loss			(17)	(17)
Net loss		(12,035)		(12,035)
Balances, end of period (Scenario, Previously Reported [Member]) at Dec. 31, 2017	456,053	(426,968)	(2)	29,083
Balances, end of period at Dec. 31, 2017	$ 456,053	(426,970)		29,083
Balances, end of period (in shares) (Scenario, Previously Reported [Member]) at Dec. 31, 2017	99,412,007
Balances, end of period (in shares) at Dec. 31, 2017	99,412,007
Cumulative adjustment related to Accounting Standard Update 2016-01 | Accounting Standards Update 2016-01 [Member]		(2)	$ 2
Shares issued (RSUs vested, net of shares withheld)	$ (39)			(39)
Shares issued (RSUs vested, net of shares withheld) (in shares)	127,942
Shares issued (exercise of stock options)	$ 16			$ 16
Shares issued (exercise of stock options) (in shares)	30,000			30,000
Stock-based compensation	$ 584			$ 584
Net loss		(2,871)		(2,871)
Balances, end of period at Jun. 30, 2018	$ 456,614	$ (429,841)		$ 26,773
Balances, end of period (in shares) at Jun. 30, 2018	99,569,949

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Cash flows from operating activities:
Net loss for the period	$ (2,871)	$ (5,529)
Adjustments to reconcile net loss for the period to net cash used in operations:
Depreciation and amortization	240	318
Stock-based compensation	584	427
Gain on disposal of mineral property		(358)
(Gain)/loss on other investments	(2,028)	780
Change in working capital account items:
Other current assets	389	54
Accounts payable, accrued liabilities and other	(1,309)	269
Net cash used in operating activities	(4,995)	(4,039)
Cash flows from investing activities:
Proceeds from sales of marketable securities	64
Disposition of short-term investments, net of acquisitions	6,166	3,843
Additions to plant and equipment	(45)
Proceeds from option/sales agreements, net		358
Net cash provided by investing activities	6,185	4,201
Cash flows from financing activities:
Payment of taxes from withheld shares	(39)
Proceeds from exercise of stock options	16
Net cash used in financing activities	(23)
Net increase in cash and cash equivalents	1,167	162
Cash and cash equivalents, beginning of period	1,431	1,904
Cash and cash equivalents, end of period	$ 2,598	$ 2,066

Nature of Operations and Basis

Nature of Operations and Basis of Presentation	6 Months Ended
	Jun. 30, 2018
Nature of Operations and Basis of Presentation
Nature of Operations and Basis of Presentation	1. Nature of Operations and Basis Vista Gold Corp. and its subsidiaries (collectively, “Vista,” the “Company,” “we,” “our,” or “us”) operate in the gold mining industry. We are focused on the evaluation, acquisition, exploration and advancement of gold exploration, and potential development projects, which may lead to gold production or value adding strategic transactions such as earn-in right agreements, option agreements, leases to third parties, joint venture arrangements with other mining companies, or outright sales of assets for cash and/or other consideration. We look for opportunities to improve the value of our gold projects through exploration drilling and/or technical studies focused on optimizing previous engineering work. The Company’s flagship asset is its 100% owned Mt Todd gold project (“Mt Todd”) in the Northern Territory (“NT”) Australia. Mt Todd is the largest undeveloped gold project in Australia. In January 2018, the Company received authorization for the last major environmental permit and we announced the positive results of an updated preliminary feasibility study (the “PFS”) for Mt Todd, which confirms the project’s solid economics at a gold price of $1,300/oz. With these important milestones complete, Vista is in a position to identify and pursue strategic alternatives that may provide the best opportunity for shareholders to realize fair value for Mt Todd. We also hold 4.2% of the outstanding common shares in the capital of Midas Gold Corp. (“Midas Gold Shares”), a non-core project in Mexico and royalty interests in the United States and Indonesia. The interim Condensed Consolidated Financial Statements (“interim statements”) of the Company are unaudited. In the opinion of management, all adjustments and disclosures necessary for a fair presentation of these interim statements have been included. The results reported in these interim statements are not necessarily indicative of the results that may be reported for the entire year. These interim statements should be read in conjunction with the Company’s Consolidated Financial Statements for the year ended December 31, 2017 as filed with the United States Securities and Exchange Commission and Canadian securities regulatory authorities on March 6, 2018 on Form 10-K. The year-end balance sheet data was derived from the audited financial statements and, in accordance with the instructions to Form 10-Q, certain information and footnote disclosures required by United States generally accepted accounting principles have been condensed or omitted. References to A$ are to Australian currency and $ are to United States currency.

Significant Accounting Policies

Significant Accounting Policies	6 Months Ended
	Jun. 30, 2018
Significant Accounting Policies [Abstract]
Significant Accounting Policies	2. Significant Accounting Policies Revenue Recognition The FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606). ASU No. 2014-09, as subsequently amended, supersedes the revenue recognition requirements in Revenue Recognition (Topic 605), and most industry-specific guidance throughout the Industry Topics of the Codification. Additionally, ASU No. 2014-09 supersedes some cost guidance included in Revenue Recognition-Construction-Type and Production-Type Contracts (Subtopic 605-35). Under ASU No. 2014-09, an entity should recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU No. 2014-09 also requires additional disclosure about the nature, amount, timing, and uncertainty of revenue and cash flows arising from customer contracts. This includes significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. The new guidance is effective for interim and annual periods beginning after December 15, 2017. Effective January 1, 2018, the Company adopted the new guidance retrospectively. The Company performed an assessment of the revised guidance and the impacts on the Company’s Consolidated Financial Statements and disclosures. We also evaluated the potential for future variable consideration from option payments, net smelter return royalties (“NSR”), and other production related payments, and determined that there is no impact to the Company’s current accounting. The Company determined that the adoption of this guidance will primarily impact the timing of revenue recognition on certain option agreements based on the Company’s determination of when control is transferred for accounting purposes. Based on the contracts outstanding as of December 31, 2017, there was no cumulative effect adjustment required to be recognized at January 1, 2018. Under the Company’s adoption approach, results for reporting periods beginning after January 1, 2018, will be presented in the Consolidated Financial Statements under the new guidance, while prior period amounts will not be adjusted and continue to be reported under the guidance in effect for those periods. Currently, proceeds received from option agreements are ascribed to recovery of the carrying value of the related project until the carrying value reaches zero. After that, any additional proceeds received will be recognized as a contract liability until control has transferred to the buyer or the related contract has terminated. None of the projects which could provide the Company with future variable consideration are currently in production, and in all cases, we believe there is low probability of future production from these projects. Accordingly, the Company believes its NSRs and other production related payments are fully constrained, and the Company did not record a receivable for them. When it becomes probable that a project which could provide the Company with an NSR or other production related payments could begin production, the Company will evaluate the accounting treatment at that time.

Short-term and Other Investment

Short-term and Other Investments	6 Months Ended
	Jun. 30, 2018
Short-term and Other Investments [Abstract]
Other Investments	3. Short-term and Other Investments Short-term investments As of June 30, 2018 and December 31, 2017, the amortized cost basis of our short-term investments was $8,978 and $15,144, respectively. The amortized cost basis approximates fair value at June 30, 2018 and December 31, 2017. Short-term investments at June 30, 2018 and December 31, 2017 are comprised of U.S. government treasury bills and/or notes, all of which have maturity dates on the date of purchase greater than 90 days but less than one year. Other investments - Midas Gold Shares Upon initial recognition of our investment in the Midas Gold Shares, we elected to apply the fair value option, and as such, the investment in Midas Gold Shares is recorded at fair value in the Condensed Consolidated Balance Sheets. Subsequent changes in fair value are recorded in the Condensed Consolidated Statements of Comprehensive Income/(Loss) in the period in which they occur. The following table summarizes our investment in Midas Gold Shares as of June 30, 2018 and December 31, 2017. June 30, 2018 December 31, 2017 Fair value at beginning of period $ 3,746 $ 4,994 Gain/(loss) during the period 2,028 (1,248) Fair value at end of period $ 5,774 $ 3,746 Midas Gold Shares held at the end of the period 7,802,615 7,802,615

Mineral Properties

Mineral Properties	6 Months Ended
	Jun. 30, 2018
Mineral Properties [Abstract]
Mineral Properties	4. Mineral Properties At June 30, 2018 At December 31, 2017 Mt Todd, Australia $ 2,146 $ 2,146 Guadalupe de los Reyes, Mexico 325 325 $ 2,471 $ 2,471 During October 2017, we entered into an agreement (the “Option Agreement”) to option our interest in the Guadalupe de los Reyes gold and silver project in Sinaloa, Mexico (the “GdlR Project”) to Minera Alamos Inc. and its subsidiary Minera Alamos de Sonora S.A. de C.V. (“Minera Alamos”). Pursuant to the terms of the Option Agreement, we granted Minera Alamos an exclusive right and option right to earn a 100% interest in the GdlR Project by: · making payments totaling $6,000 comprised of a payment of $1,500 made at the execution of the Option Agreement (“Option Grant Date”); two successive payments of $1,500 each to be made at the one-year and two-year anniversaries of the Option Grant Date; and a final $1,500 payment to be made before the four-year anniversary of the Option Grant Date; · maintaining the concessions comprising the GdlR Project in good standing; · fulfilling all of our obligations to the Ejido La Tasajera (the “Ejido”) as set out in the temporary occupation contract between us and the Ejido; · granting us a capped NSR on production from open pit mining (the “Open Pit NSR”) at rates that range from 1% (at gold prices of $1,400/oz or less) to a maximum of 2% (at gold prices above $1,600/oz) up to an aggregate of $2,000 in royalty payments; · granting us a perpetual NSR on production from underground mining (the “Underground NSR”) at rates that range from 1% (at gold prices of $1,400/oz or less) to a maximum of 2% (at gold prices above $1,600/oz); and · granting us the right to assume a 49% non-carried interest in an underground project if Minera Alamos decides to develop an underground mine at the GdlR Project (the “Back-in Right”). The Option Agreement provides that all cash payments are non-refundable and optional to Minera Alamos, and in the event Minera Alamos fails to pay any of the required amounts as set out in the Option Agreement, or fails to comply with its other obligations, the Option Agreement will terminate and Minera Alamos will have no interest in the GdlR Project. Provided it is not in breach of the Option Agreement, Minera Alamos may at its discretion advance the above payment schedule. Subject to Minera Alamos timely making all the option payments, and fulfilling its other obligations with respect to the Option Agreement, we will transfer 100% of the shares of the Company’s 100% owned subsidiary Minera Gold Stake S.A. de C.V., the entity which owns the GdlR Project, to Minera Alamos and the Open-Pit NSR and Underground NSR will be granted to us. If Minera Alamos discovers, and decides to develop, an underground mine at the GdlR Project and we exercise the Back-in Right, we and Minera Alamos have agreed to form a joint venture to develop and operate the underground mine. If the joint venture is formed, the Underground NSR will terminate. The Company has determined that control of the GdlR Project has not been transferred for accounting purposes. The first option payment of $1,500 received in October 2017 has been accounted for as reduction to carrying value. Subsequent option payments received, if any, will be accounted for as further reductions to carrying value. After the carrying value has been reduced to zero, remaining option payment proceeds, if any, will be recognized as a contract liability until control of the GdlR Project has transferred to the buyer or the Option Agreement has been terminated. In addition, in accordance with our policy, potential royalty revenue and future option payments have been fully constrained. Long Valley Claims During the three months ended March 31, 2017, we sold our Long Valley unpatented mining claims located in California for consideration, net of transaction costs, of $358 which was paid at closing; a future payment of $500 one month after the start of commercial production; a future payment of $500 on or prior to the first anniversary of the start of commercial production; and a NSR on any future production from said claims at a variable rate between 0.5% and 2.0% depending on the average gold price realized . The Company has determined that control of the Long Valley claims were transferred to the buyer at the time of sale for accounting purposes. This sale resulted in a realized gain of $358.

Plant And Equipment

Plant And Equipment	6 Months Ended
	Jun. 30, 2018
Plant And Equipment [Abstract]
Plant And Equipment	5. Plant and Equipment June 30, 2018 December 31, 2017 Accumulated Accumulated Cost depreciation Net Cost depreciation Net Mt Todd, Australia $ 5,691 $ 4,831 $ 860 $ 5,646 $ 4,591 $ 1,055 Corporate, United States 333 333 — 333 333 — Used mill equipment, Canada 6,500 — 6,500 6,500 — 6,500 $ 12,524 $ 5,164 $ 7,360 $ 12,479 $ 4,924 $ 7,555

Common Shares

Common Shares	6 Months Ended
	Jun. 30, 2018
Capital Stock [Abstract]
Common Shares	6. Common Shares Warrants Warrant activity is summarized in the following table: Weighted Weighted average average Warrants exercise price remaining life outstanding per share (yrs.) Intrinsic value As of December 31, 2017 6,514,625 $ 1.92 1.6 $ — As of June 30, 2018 6,514,625 $ 1.92 1.1 $ — Stock-Based Compensation Under the Company’s stock option plan (the “Plan”), we may grant options to purchase common shares of the Company (“Common Shares”) to our directors, officers, employees and consultants. The maximum number of our Common Shares that may be reserved for issuance under the Plan, together with RSUs currently outstanding under the LTIP, is a variable number equal to 10% of the issued and outstanding Common Shares on a non-diluted basis at any one time. Options under the Plan are granted from time to time at the discretion of the Board, with vesting periods and other terms as determined by the Board. Stock-based compensation expense for the three and six months ended June 30, 2018 and 2017 is as follows: Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 Stock options $ 54 $ 12 $ 200 $ 24 Restricted stock units 192 169 384 403 $ 246 $ 181 $ 584 $ 427 As of June 30, 2018, stock options and RSUs had unrecognized compensation expense of $206 and $475, respectively, which is expected to be recognized over a weighted average period of 1.2 and 1.0 years, respectively. Stock Options A summary of options under the Plan as of June 30, 2018 is set forth in the following table: Weighted average Weighted average Aggregate Number of exercise price remaining intrinsic options per option contractual term value Outstanding - December 31, 2017 1,144,500 $ 0.42 1.15 $ 346 Granted 820,000 0.75 Exercised (30,000) 0.36 Outstanding - June 30, 2018 1,934,500 $ 0.56 2.36 $ 327 Exercisable - June 30, 2018 1,134,912 $ 0.51 1.64 $ 246 A summary of our unvested stock options as of June 30, 2018 is set forth in the following table: Weighted Weighted average average remaining grant-date amortization Number of fair value period options per option (Years) Unvested - December 31, 2017 246,250 $ 0.22 0.99 Granted 820,000 0.48 Vested (266,662) 0.48 Unvested - June 30, 2018 799,588 $ 0.40 1.20 No stock options were granted for the six months ended June 30, 2017. The fair value of stock options granted during the six months ended June 30, 2018 to employees, directors and consultants was estimated at the grant date using the Black-Scholes option pricing model using the following assumptions: 2018 Expected volatility 77.1 % Risk-free interest rate 2.6 % Expected life (years) 5 Dividend yield — Forfeiture assumption — % Restricted Stock Units The following table summarizes the RSUs outstanding under the LTIP as of June 30, 2018: Weighted average Number grant-date fair of units value per unit Unvested - December 31, 2017 1,567,907 $ 0.85 Cancelled/forfeited (101,392) 0.98 Vested, net of shares withheld (127,942) 0.97 Granted 319,000 0.75 Unvested - June 30, 2018 1,657,573 $ 0.81 A portion of the RSU awards vest on a fixed future date provided the recipient continues to be affiliated with Vista on that date. Other RSU awards vest subject to certain performance and market criteria, including the accomplishment of certain corporate objectives and the Company’s share price performance. The minimum vesting period for RSUs is one year. During the six months ended June 30, 2018, the Company withheld shares with an equivalent value to meet the employee withholding tax obligations which resulted from RSUs that vested in the period. Shares withheld are considered cancelled/forfeited. New RSUs will not be granted under the LTIP until the allocation of such awards is duly approved by the shareholders of the Company.

Commitments And Contingencies

Commitments And Contingencies	6 Months Ended
	Jun. 30, 2018
Commitments And Contingencies [Abstract]
Commitments And Contingencies	7. Commitments and Contingencies Our exploration and development activities are subject to various laws and regulations governing the protection of the environment. These laws and regulations are continually changing and are generally becoming more restrictive. As such, the future expenditures that may be required for compliance with these laws and regulations cannot be predicted. We conduct our operations in an effort to minimize effects on the environment and believe our operations are in compliance with applicable laws and regulations in all material respects. Under our agreement with the Jawoyn Association Aboriginal Corporation (the “JAAC”), we have agreed to offer the JAAC the opportunity to establish a joint venture with Vista holding a 90% participating interest and the JAAC holding a 10% participating interest in Mt Todd. In addition, the JAAC will be entitled to an annual cash payment, or payment in kind, equal to 1% of the value of the annual gold production from the current mining licenses, and a 1% NSR on other metals, subject to a minimum payment of A$50 per year.

Fair Value Accounting

Fair Value Accounting	6 Months Ended
	Jun. 30, 2018
Fair Value [Abstract]
Fair Value Accounting	8. Fair Value Accounting The following table sets forth the Company’s assets measured at fair value by level within the fair value hierarchy. As required by accounting guidance, assets are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Fair value at June 30, 2018 Total Level 1 Level 3 Marketable securities $ 17 $ 17 $ — Other investments (Midas Gold Shares) 5,774 5,774 — Fair value at December 31, 2017 Total Level 1 Level 3 Marketable securities $ 90 $ 90 $ — Other investments (Midas Gold Shares) 3,746 3,746 — Used mill equipment (non-recurring) 6,500 — 6,500 Our marketable securities and investment in Midas Gold Shares are classified as Level 1 of the fair value hierarchy as they are valued at quoted market prices in an active market. Marketable securities are included in other current assets on the Condensed Consolidated Balance Sheets for each period presented. The used mill equipment is classified as Level 3 of the fair value hierarchy as its value at December 31, 2017 was based on an independent third-party valuation. As of June 30, 2018, an independent third-party evaluation was not deemed necessary. The mill equipment is included in plant and equipment on the Condensed Consolidated Balance Sheets for each period presented. There have been no transfers between levels in 2018, nor have there been any changes in valuation techniques.

Geographic And Segment Informat

Geographic And Segment Information	6 Months Ended
	Jun. 30, 2018
Geographic And Segment information [Abstract]
Geographic And Segment Information	9. Geographic and Segment Information The Company has one reportable operating segment. We evaluate, acquire, explore and advance gold exploration and potential development projects, which may lead to gold production or value adding strategic transactions. These activities are currently focused principally in Australia. We reported no revenues during the three and six months ended June 30, 2018 and 2017. Geographic location of mineral properties and plant and equipment is provided in Notes 4 and 5, respectively.

Short-term and Other Investme16

Short-term and Other Investments (Tables)	6 Months Ended
	Jun. 30, 2018
Short-term and Other Investments [Abstract]
Summary of investment in Midas Gold Shares	June 30, 2018 December 31, 2017 Fair value at beginning of period $ 3,746 $ 4,994 Gain/(loss) during the period 2,028 (1,248) Fair value at end of period $ 5,774 $ 3,746 Midas Gold Shares held at the end of the period 7,802,615 7,802,615

Mineral Properties (Tables)

Mineral Properties (Tables)	6 Months Ended
	Jun. 30, 2018
Mineral Properties [Abstract]
Schedule of Mineral Properties	At June 30, 2018 At December 31, 2017 Mt Todd, Australia $ 2,146 $ 2,146 Guadalupe de los Reyes, Mexico 325 325 $ 2,471 $ 2,471

Plant And Equipment (Tables)

Plant And Equipment (Tables)	6 Months Ended
	Jun. 30, 2018
Plant And Equipment [Abstract]
Schedule Of Plant And Equipment	June 30, 2018 December 31, 2017 Accumulated Accumulated Cost depreciation Net Cost depreciation Net Mt Todd, Australia $ 5,691 $ 4,831 $ 860 $ 5,646 $ 4,591 $ 1,055 Corporate, United States 333 333 — 333 333 — Used mill equipment, Canada 6,500 — 6,500 6,500 — 6,500 $ 12,524 $ 5,164 $ 7,360 $ 12,479 $ 4,924 $ 7,555

Common Shares (Tables)

Common Shares (Tables)	6 Months Ended
	Jun. 30, 2018
Capital Stock [Abstract]
Summary of Warrant Activity	Weighted Weighted average average Warrants exercise price remaining life outstanding per share (yrs.) Intrinsic value As of December 31, 2017 6,514,625 $ 1.92 1.6 $ — As of June 30, 2018 6,514,625 $ 1.92 1.1 $ —
Summary of Stock-based Compensation Expense	Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 Stock options $ 54 $ 12 $ 200 $ 24 Restricted stock units 192 169 384 403 $ 246 $ 181 $ 584 $ 427
Summary of Option Activity	Weighted average Weighted average Aggregate Number of exercise price remaining intrinsic options per option contractual term value Outstanding - December 31, 2017 1,144,500 $ 0.42 1.15 $ 346 Granted 820,000 0.75 Exercised (30,000) 0.36 Outstanding - June 30, 2018 1,934,500 $ 0.56 2.36 $ 327 Exercisable - June 30, 2018 1,134,912 $ 0.51 1.64 $ 246
Summary of the Status of Unvested Stock Options	Weighted Weighted average average remaining grant-date amortization Number of fair value period options per option (Years) Unvested - December 31, 2017 246,250 $ 0.22 0.99 Granted 820,000 0.48 Vested (266,662) 0.48 Unvested - June 30, 2018 799,588 $ 0.40 1.20
Summary of Stock Option Assumptions	2018 Expected volatility 77.1 % Risk-free interest rate 2.6 % Expected life (years) 5 Dividend yield — Forfeiture assumption — %
Summary of Restricted Stock Units Activity	Weighted average Number grant-date fair of units value per unit Unvested - December 31, 2017 1,567,907 $ 0.85 Cancelled/forfeited (101,392) 0.98 Vested, net of shares withheld (127,942) 0.97 Granted 319,000 0.75 Unvested - June 30, 2018 1,657,573 $ 0.81

Fair Value Accounting (Tables)

Fair Value Accounting (Tables)	6 Months Ended
	Jun. 30, 2018
Fair Value [Abstract]
Fair Value Accounting	Fair value at June 30, 2018 Total Level 1 Level 3 Marketable securities $ 17 $ 17 $ — Other investments (Midas Gold Shares) 5,774 5,774 — Fair value at December 31, 2017 Total Level 1 Level 3 Marketable securities $ 90 $ 90 $ — Other investments (Midas Gold Shares) 3,746 3,746 — Used mill equipment (non-recurring) 6,500 — 6,500

Nature of Operations and Basi21

Nature of Operations and Basis of Presentation (Details) - USD ($)	6 Months Ended
	Jun. 30, 2018	Jan. 31, 2018
Midas Gold Shares [Member]
Property, Plant and Equipment [Line Items]
Ownership investment (as a percent)	4.20%
Mt Todd, Australia [Member]
Property, Plant and Equipment [Line Items]
Percentage of ownership in project	100.00%
Gold price (USD per ounce)		$ 1,300

Significant Accounting Polici22

Significant Accounting Policies (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2018USD ($)item	Jan. 01, 2018USD ($)	Dec. 31, 2017USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Accumulated deficit	$ (429,841)		$ (426,968)
Mineral income
Number of projects currently in production that could provide future variable consideration | item	0
Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | Accounting Standards Update 2014-09 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Accumulated deficit		$ 0
Option Agreement Two [Member] | Guadalupe De Los Reyes, Mexico [Member]
Mineral income
Value of carrying value for option payment proceeds to be recognized as contract liability	$ 0

Short-term and Other Investme23

Short-term and Other Investments, Short-term (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2018	Dec. 31, 2017
Short-term investments
Short-term investments amortized cost basis	$ 8,978	$ 15,144
Minimum period for maturity dates for short-term investments	90 days

Short-term and Other Investme24

Short-term and Other Investments, Summary (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended		12 Months Ended
	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Debt and Equity Securities, FV-NI [Line Items]
Fair value at beginning of period		$ 3,746
Gain (loss) during the period	$ (468)	2,028	$ (780)
Fair value at end of period		5,774		$ 3,746
Midas Gold Shares [Member]
Debt and Equity Securities, FV-NI [Line Items]
Fair value at beginning of period		3,746	$ 4,994	4,994
Gain (loss) during the period		2,028		(1,248)
Fair value at end of period		$ 5,774		$ 3,746
Midas Gold Shares held at end of the period		7,802,615		7,802,615

Mineral Properties, Properties

Mineral Properties, Properties (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Property, Plant and Equipment [Line Items]
Mineral Properties, Net	$ 2,471	$ 2,471
Mt Todd, Australia [Member]
Property, Plant and Equipment [Line Items]
Mineral Properties, Net	2,146	2,146
Guadalupe De Los Reyes, Mexico [Member]
Property, Plant and Equipment [Line Items]
Mineral Properties, Net	$ 325	$ 325

Mineral Properties, Guadalupe (

Mineral Properties, Guadalupe (Details)	1 Months Ended	6 Months Ended
	Oct. 31, 2017USD ($)item	Jun. 30, 2018USD ($)	Jun. 30, 2017USD ($)
Property, Plant and Equipment [Line Items]
Proceeds from sale			$ 358,000
Guadalupe De Los Reyes, Mexico [Member] | Option Agreement Two [Member]
Property, Plant and Equipment [Line Items]
Interest has right to earn (as a percent)	100.00%
Sale price of gold/silver project	$ 6,000,000
Number of successive payments | item	2
Back in Right (as a percent)	49.00%
Ownership interest if terms of option agreement not fulfilled (as a percent)	0.00%
Ownership to be transferred (as a percent)	100.00%
Ownership interest (as a percent)	100.00%
Proceeds from sale	$ 1,500,000
Value of carrying value for option payment proceeds to be recognized as contract liability		$ 0
Guadalupe De Los Reyes, Mexico [Member] | Execution of Option Agreement [Member] | Option Agreement Two [Member]
Property, Plant and Equipment [Line Items]
Sale price of gold/silver project	1,500,000
Guadalupe De Los Reyes, Mexico [Member] | One Year Anniversary [Member] | Option Agreement Two [Member]
Property, Plant and Equipment [Line Items]
Sale price of gold/silver project	1,500,000
Guadalupe De Los Reyes, Mexico [Member] | Two Year Anniversary [Member] | Option Agreement Two [Member]
Property, Plant and Equipment [Line Items]
Sale price of gold/silver project	1,500,000
Guadalupe De Los Reyes, Mexico [Member] | Before Four Year Anniversary [Member] | Option Agreement Two [Member]
Property, Plant and Equipment [Line Items]
Sale price of gold/silver project	1,500,000
Open Pit Mining [Member] | Guadalupe De Los Reyes, Mexico [Member] | Option Agreement Two [Member]
Property, Plant and Equipment [Line Items]
Aggregate royalty payments to be received	$ 2,000,000
Open Pit Mining [Member] | Minimum [Member] | Guadalupe De Los Reyes, Mexico [Member] | Option Agreement Two [Member]
Property, Plant and Equipment [Line Items]
Net smelter return royalty (as a percent)	1.00%
Gold price (USD per ounce)	$ 1,600
Open Pit Mining [Member] | Maximum [Member] | Guadalupe De Los Reyes, Mexico [Member] | Option Agreement Two [Member]
Property, Plant and Equipment [Line Items]
Net smelter return royalty (as a percent)	2.00%
Gold price (USD per ounce)	$ 1,400
Underground Mining [Member] | Minimum [Member] | Guadalupe De Los Reyes, Mexico [Member] | Option Agreement Two [Member]
Property, Plant and Equipment [Line Items]
Net smelter return royalty (as a percent)	1.00%
Gold price (USD per ounce)	$ 1,600
Underground Mining [Member] | Maximum [Member] | Guadalupe De Los Reyes, Mexico [Member] | Option Agreement Two [Member]
Property, Plant and Equipment [Line Items]
Net smelter return royalty (as a percent)	2.00%
Gold price (USD per ounce)	$ 1,400

Mineral Properties, Long Valley

Mineral Properties, Long Valley (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Mar. 31, 2017	Jun. 30, 2017
Property, Plant and Equipment [Line Items]
Proceeds from sale		$ 358
Gain on disposal of mineral property		$ 358
Long Valley [Member] | Sold | Mineral Rights
Property, Plant and Equipment [Line Items]
Proceeds from sale	$ 358
Gain on disposal of mineral property	$ 358
Long Valley [Member] | Sold | Mineral Rights | Minimum [Member]
Property, Plant and Equipment [Line Items]
Net smelter return royalty (as a percent)	0.50%
Long Valley [Member] | Sold | Mineral Rights | Maximum [Member]
Property, Plant and Equipment [Line Items]
Net smelter return royalty (as a percent)	2.00%
Long Valley [Member] | Sold | Mineral Rights | One Month after the Start of Production [Member]
Property, Plant and Equipment [Line Items]
Future payment	$ 500
Long Valley [Member] | Sold | Mineral Rights | On or Prior to the First Anniversary of the Start of Production [Member]
Property, Plant and Equipment [Line Items]
Future payment	$ 500

Plant And Equipment (Details)

Plant And Equipment (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Property, Plant and Equipment [Line Items]
Cost	$ 12,524	$ 12,479
Accumulated depreciation	5,164	4,924
Net	7,360	7,555
Mt Todd, Australia [Member]
Property, Plant and Equipment [Line Items]
Cost	5,691	5,646
Accumulated depreciation	4,831	4,591
Net	860	1,055
Corporate, United States [Member]
Property, Plant and Equipment [Line Items]
Cost	333	333
Accumulated depreciation	333	333
Used mill equipment, Canada [Member]
Property, Plant and Equipment [Line Items]
Cost	6,500	6,500
Net	$ 6,500	$ 6,500

Common Shares, Warrants (Detail

Common Shares, Warrants (Details) - Warrants [Member] - $ / shares	6 Months Ended	12 Months Ended
	Jun. 30, 2018	Dec. 31, 2017
Warrants outstanding, beginning of period (in shares)	6,514,625
Warrants outstanding, end of period (in shares)	6,514,625	6,514,625
Weighted average exercise price of warrants outstanding (in dollars per share)	$ 1.92	$ 1.92
Weighted average remaining life, warrants outstanding	1 year 1 month 6 days	1 year 7 months 6 days

Common Shares, Stock-Based Comp

Common Shares, Stock-Based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Percentage of issued and outstanding Common Shares			10.00%
Stock-based compensation expense	$ 246	$ 181	$ 584	$ 427
Stock Options [Member]
Stock-based compensation expense	54	12	200	24
Restricted Stock Units (RSUs) [Member]
Stock-based compensation expense	$ 192	$ 169	$ 384	$ 403

Common Shares, Unrecognized Com

Common Shares, Unrecognized Compensation (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2018	Dec. 31, 2017
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense related to stock options	$ 206
Weighted average unrecognized compensation recognition period	1 year 2 months 12 days	11 months 27 days
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense related to unvested awards	$ 475
Weighted average unrecognized compensation recognition period	1 year

Common Shares, Summary Of Optio

Common Shares, Summary Of Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Capital Stock [Abstract]
Number of options, beginning of period (in shares)	1,144,500
Granted, Number of options (in shares)	820,000	0
Number of options, Exercised (in shares)	(30,000)
Number of options, end of period (in shares)	1,934,500		1,144,500
Number of options, Exercisable (in shares)	1,134,912
Weighted average exercise price per option, beginning of period (in dollars per share)	$ 0.42
Weighted average exercise price per option, Granted (in dollars per share)	0.75
Weighted average exercise price per option, Exercised (in dollars per share)	0.36
Weighted average exercise price per option, end of period (in dollars per share)	0.56		$ 0.42
Weighted average exercise price, Exercisable (in dollars per share)	$ 0.51
Weighted average remaining contractual term, Outstanding	2 years 4 months 10 days		1 year 1 month 24 days
Weighted average remaining contractual term, Exercisable	1 year 7 months 21 days
Aggregate intrinsic value, Outstanding, beginning of period (in dollars)	$ 346
Aggregate intrinsic value, Outstanding, end of period (in dollars)	327		$ 346
Aggregate intrinsic value, Options, Exercisable	$ 246

Common Shares, Summary Of The S

Common Shares, Summary Of The Status Of Unvested Stock Options (Details) - $ / shares	6 Months Ended		12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Granted, Number of options (in shares)	820,000	0
Stock Options [Member]
Unvested, Number of options, beginning of period (in shares)	246,250
Granted, Number of options (in shares)	820,000
Vested, Number of options (in shares)	(266,662)
Unvested, Number of options, end of period (in shares)	799,588		246,250
Unvested, Weighted average grant date fair value, beginning of period (in dollars per share)	$ 0.22
Granted, Weighted average grant-date fair value per option (in dollars per share)	0.48
Vested, Weighted average grant-date fair value per option (in dollars per share)	0.48
Unvested, Weighted average grant date fair value per option, end of period (in dollars per share)	$ 0.40		$ 0.22
Weighted average remaining amortization period	1 year 2 months 12 days		11 months 27 days

Common Shares, Assumptions (Det

Common Shares, Assumptions (Details) - Stock Options [Member]	6 Months Ended
	Jun. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility (as a percent)	77.10%
Risk-free interest rate (as a percent)	2.60%
Expected life (years)	5 years

Common Shares, Summary Of Restr

Common Shares, Summary Of Restricted Stock Units Activity (Details) - Restricted Stock Units (RSUs) [Member]	6 Months Ended
	Jun. 30, 2018$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested, Number of units, beginning of period (in shares) | shares	1,567,907
Cancelled/forfeited, Number of units (in shares) | shares	(101,392)
Vested, net of shares withheld, Number of units (in shares) | shares	(127,942)
Granted, Number of units (in shares) | shares	319,000
Unvested, Number of units, end of period (in shares) | shares	1,657,573
Unvested, weighted average fair value, beginning of year (in dollars per share) | $ / shares	$ 0.85
Cancelled/forfeited, Weighted average fair value (in dollars per share) | $ / shares	0.98
Vested, Weighted average fair value (in dollars per share) | $ / shares	0.97
Granted, Weighted average fair value (in dollars per share) | $ / shares	0.75
Unvested, weighted average fair value, end of year (in dollars per share) | $ / shares	$ 0.81
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	1 year

Commitments And Contingencies (

Commitments And Contingencies (Details) - Mt Todd, Australia [Member] $ in Thousands	6 Months Ended
	Jun. 30, 2018AUD ($)
Loss Contingencies [Line Items]
Percentage of outstanding common shares	90.00%
Percentage of participating interest in gold project by affiliate	10.00%
Percentage of royalty on gold	1.00%
Percentage of royalty on other metals	1.00%
Minimum payment per year	$ 50

Fair Value Accounting (Details)

Fair Value Accounting (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017	Dec. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other investments	$ 5,774	$ 3,746
Fair Value Transfers Between Levels	0
Midas Gold Shares [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other investments	5,774	3,746	$ 4,994
Recurring [Member] | Marketable Securities (Other Than Midas Gold Shares) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	17	90
Recurring [Member] | Midas Gold Shares [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other investments	5,774	3,746
Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Marketable Securities (Other Than Midas Gold Shares) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	17	90
Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Midas Gold Shares [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other investments	$ 5,774	3,746
Non-recurring [Member] | Used mill equipment, Canada [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Used mill equipment (non-recurring)		6,500
Non-recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Used mill equipment, Canada [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Used mill equipment (non-recurring)		$ 6,500

Geographic And Segment Inform38

Geographic And Segment Information (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018USD ($)	Jun. 30, 2017USD ($)	Jun. 30, 2018USD ($)segment	Jun. 30, 2017USD ($)
Geographic And Segment information [Abstract]
Number of reportable segments | segment			1
Revenues | $	$ 0	$ 0	$ 0	$ 0