Vista Gold (VGZ) 10-Q 7 May 19 2019 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2019	Apr. 26, 2019
Document and Entity Information [Abstract]
Entity Registrant Name	VISTA GOLD CORP
Entity Central Index Key	0000783324
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2019
Entity Common Stock, Shares Outstanding		100,537,541
Entity Current Reporting Status	Yes
Entity Small Business	true
Entity Emerging Growth Company	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 378	$ 1,071
Short-term investments (Note 3)	6,012	6,997
Other investments, at fair value (Note 3)	4,838	5,462
Other current assets	470	540
Total current assets	11,698	14,070
Non-current assets:
Mineral properties (Note 4)	2,321	2,421
Plant and equipment, net (Note 5)	5,663	5,635
Right-of-use assets (Note 2)	63
Total non-current assets	8,047	8,056
Total assets	19,745	22,126
Current liabilities:
Accounts payable	289	195
Accrued liabilities and other	478	435
Provision for environmental liability	242	242
Total current liabilities	1,009	872
Lease liability (Note 2)	63
Total non-current liabilities	63
Total liabilities	1,072	872
Commitments and contingencies – (Note 7)
Shareholders' equity:
Common shares, no par value - unlimited shares authorized; shares outstanding: 2019 - 100,537,541 and 2018 - 100,268,161 (Note 6)	457,009	456,938
Accumulated deficit	(438,336)	(435,684)
Total shareholders' equity	18,673	21,254
Total liabilities and shareholders' equity	$ 19,745	$ 22,126

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2019	Dec. 31, 2018
Shareholders' equity:
Common Shares, par value	$ 0	$ 0
Common shares outstanding	100,537,541	100,268,161

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME/(LOSS) AND COMPREHENSIVE INCOME/(LOSS) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
CONDENSED CONSOLIDATED STATEMENTS OF INCOME/(LOSS) AND COMPREHENSIVE INCOME/(LOSS)
Revenues	$ 0	$ 0
Operating expense:
Exploration, property evaluation and holding costs	$ (946)	$ (1,545)
Type of Cost, Good or Service [Extensible List]	us-gaap:MineralExplorationMember	us-gaap:MineralExplorationMember
Corporate administration	$ (1,147)	$ (1,423)
Depreciation and amortization	(12)	(228)
Total operating expense	(2,105)	(3,196)
Non-operating income/(expense):
(Loss)/gain on other investments (Note 3)	(624)	2,028
Interest income	42	182
Other income/(expense)	35	38
Total non-operating income/(expense)	(547)	2,248
Loss before income taxes	(2,652)	(948)
Net loss	(2,652)	(948)
Other comprehensive loss:
Comprehensive loss	$ (2,652)	$ (948)
Basic:
Weighted average number of shares outstanding (in shares)	100,323,736	99,445,750
Net loss per share, Basic (in dollars per share)	$ (0.03)	$ (0.01)
Diluted:
Weighted average number of shares outstanding (in shares)	100,323,736	99,445,750
Net loss per share, Diluted (in dollars per share)	$ (0.03)	$ (0.01)

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Previously ReportedCommon Stock	Previously ReportedAccumulated Deficit	Previously ReportedAccumulated Other Comprehensive Income/(Loss)	Previously Reported	Common Stock	Accumulated Deficit	Accumulated Other Comprehensive Income/(Loss)	Total
Cumulative adjustment related to Accounting Standard Update 2016-01 | Accounting Standards Update 2016-01						$ (2)	$ 2
Balances, beginning of period at Dec. 31, 2017	$ 456,053	$ (426,968)	$ (2)	$ 29,083	$ 456,053	(426,970)		$ 29,083
Balances, beginning of period (in shares) at Dec. 31, 2017	99,412,007				99,412,007
Shares issued (RSUs vested, net of shares withheld) (Note 6)					$ (39)			(39)
Shares issued (RSUs vested, net of shares withheld) (Note 6) (in shares)					127,942
Stock-based compensation (Note 6)					$ 338			338
Net loss						(948)		(948)
Balances, end of period at Mar. 31, 2018					$ 456,352	(427,918)		28,434
Balances, end of period (in shares) at Mar. 31, 2018					99,539,949
Balances, beginning of period at Dec. 31, 2017	$ 456,053	$ (426,968)	$ (2)	$ 29,083	$ 456,053	(426,970)		$ 29,083
Balances, beginning of period (in shares) at Dec. 31, 2017	99,412,007				99,412,007
Shares issued (exercise of stock options) (Note 6) (in shares)								218,600
Balances, end of period at Dec. 31, 2018					$ 456,938	(435,684)		$ 21,254
Balances, end of period (in shares) at Dec. 31, 2018					100,268,161
Shares issued (RSUs vested, net of shares withheld) (Note 6)					$ (46)			(46)
Shares issued (RSUs vested, net of shares withheld) (Note 6) (in shares)					142,380
Shares issued (exercise of stock options) (Note 6)					$ 66			$ 66
Shares issued (exercise of stock options) (Note 6) (in shares)					127,000			127,000
Stock-based compensation (Note 6)					$ 51			$ 51
Net loss						(2,652)		(2,652)
Balances, end of period at Mar. 31, 2019					$ 457,009	$ (438,336)		$ 18,673
Balances, end of period (in shares) at Mar. 31, 2019					100,537,541

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Cash flows from operating activities:
Net loss for the period	$ (2,652)	$ (948)
Adjustments to reconcile net loss for the period to net cash used in operations:
Depreciation and amortization	12	228
Stock-based compensation	51	338
(Gain)/loss on other investments	624	(2,028)
Change in working capital account items:
Other current assets	70	169
Accounts payable, accrued liabilities and other	137	(962)
Net cash used in operating activities	(1,758)	(3,203)
Cash flows from investing activities:
Disposition of short-term investments, net of acquisitions	985	2,226
Additions to plant and equipment	(40)
Proceeds from option/sale agreements, net	100
Net cash provided by investing activities	1,045	2,226
Cash flows from financing activities:
Payment of taxes from withheld shares	(46)	(39)
Proceeds from exercise of stock options	66
Net cash provided by / (used in) financing activities	20	(39)
Net decrease in cash and cash equivalents	(693)	(1,016)
Cash and cash equivalents, beginning of period	1,071	1,431	$ 1,431
Cash and cash equivalents, end of period	$ 378	$ 415	$ 1,071

Nature of Operations and Basis

Nature of Operations and Basis of Presentation	3 Months Ended
	Mar. 31, 2019
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” or the “Project”) 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 announced the positive results of an updated preliminary feasibility study (“PFS”) for Mt Todd. Subsequently, we completed additional metallurgical testing, including ongoing fine grinding and leach recovery tests, which demonstrate further improvements in gold recovery. Vista plans to integrate these and other improvements in a new update to the PFS, scheduled for release in the coming months. The Company also holds 7.8 million 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, 2018 as filed with the United States Securities and Exchange Commission and Canadian securities regulatory authorities on February 25, 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	3 Months Ended
	Mar. 31, 2019
Significant Accounting Policies
Significant Accounting Policies	2. Significant Accounting Policies Lease Accounting In February 2016, the FASB issued ASU No. 2016-02, Leases. The new standard establishes a right-of-use (“ROU”) model that requires a lessee to record an ROU asset and a lease liability on the balance sheet for all leases with terms longer than 12 months. Leases are classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. The Company adopted the standard on January 1, 2019 using the modified retrospective approach. We recognized additional operating liabilities of $186 on adoption, with corresponding ROU assets of the same amount, based on the present value of the remaining lease payments. This standard does not affect the expense recognition of the leases currently held by the Company. On adoption, we also elected the practical expedients, which among other things, does not require reassessment of lease classification. The Company does not include short term leases in its ROU and lease liability calculations. As of March, 31, 2019, the asset and liability were $163. These amounts are broken out into current and non-current assets. $100 is included in other current assets, and accrued liabilities and other, respectively. $63 is included in other non-current assets and lease liability, respectively. The Company’s leases have remaining terms which range from 0.7 to 2.7 years as of March 31, 2019.

Short-term and Other Investment

Short-term and Other Investments	3 Months Ended
	Mar. 31, 2019
Short-term and Other Investments
Other Investments	3. Short-term and Other Investments Short-term investments As of March 31, 2019 and December 31, 2018, the amortized cost basis of our short-term investments was $6,012 and $6,997, respectively. The amortized cost basis approximates fair value at March 31, 2019 and December 31, 2018. Short-term investments at March 31, 2019 and December 31, 2018 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 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 March 31, 2019 and December 31, 2018. The gain/(loss) amounts are as of the three months ended March 31, 2019 and year ended December 31, 2018. March 31, 2019 December 31, 2018 Fair value at beginning of period $ 5,462 $ 3,746 Gain/(loss) during the period (624) 1,716 Fair value at end of period $ 4,838 $ 5,462 Midas Gold Shares held at the end of the period 7,802,615 7,802,615

Mineral Properties

Mineral Properties	3 Months Ended
	Mar. 31, 2019
Mineral Properties
Mineral Properties	4. Mineral Properties At March 31, 2019 At December 31, 2018 Mt Todd, Australia $ 2,146 $ 2,146 Guadalupe de los Reyes, Mexico 175 275 $ 2,321 $ 2,421 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 net smelter return (“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. In October 2018, the Company agreed to extend the due date for the second $1,500 option payment for the GdlR Project by six months to April 23, 2019, at which time the payment was made. As consideration for the deferral, the Company received an additional $150 in cash, $50 of which was paid to Vista on October 24, 2018 and $100 of which Minera Alamos paid on January 23, 2019. In addition, Minera Alamos paid interest at a rate of 1.5% per month on the unpaid balance of the $1,500 payment beginning January 24, 2019. See also Note 10.

Plant And Equipment

Plant And Equipment	3 Months Ended
	Mar. 31, 2019
Plant and Equipment
Plant And Equipment	5. Plant and Equipment March 31, 2019 December 31, 2018 Accumulated Accumulated Cost depreciation Net Cost depreciation Net Mt Todd, Australia $ 5,238 $ 5,075 $ 163 $ 5,197 $ 5,062 $ 135 Corporate, United States 333 333 — 333 333 — Used mill equipment, Canada 5,500 — 5,500 5,500 — 5,500 $ 11,071 $ 5,408 $ 5,663 $ 11,030 $ 5,395 $ 5,635

Common Shares

Common Shares	3 Months Ended
	Mar. 31, 2019
Common Shares
Common Shares	6. Common Shares Warrants Outstanding warrants are 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 December 31, 2018 6,514,625 $ 1.92 0.6 $ — As of March 31, 2019 6,514,625 $ 1.92 0.4 $ — These warrants will expire in August 2019. 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 Common Shares that may be reserved for issuance under the Plan, together with the Company’s restricted share units (“RSUs”) currently outstanding under the Company’s long term incentive plan (“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 of Directors of the Company (“Board”), with vesting periods and other terms as determined by the Board. Stock-based compensation expense for the three months ended March 31, 2019 and 2018 is as follows: Three Months Ended March 31, 2019 2018 Stock options $ 50 $ 146 Restricted stock units 1 192 $ 51 $ 338 Phantom units (Discussed below) 22 — RSU costs in the three months ended March 31, 2019 are reduced by the cumulative effect of certain forfeitures that occurred in the period. As of March 31, 2019, stock options, RSUs, and phantom units had unrecognized compensation expense of $109, $108, and $135 respectively, which is expected to be recognized over a weighted average period of 1.1, 0.7, and 1.3 years, respectively. Stock Options A summary of options under the Plan as of March 31, 2019 is set forth in the following table: Weighted average Weighted average remaining Aggregate Number of exercise price contractual term intrinsic options per option (years) value Outstanding - December 31, 2017 1,144,500 0.42 1.15 $ 346 Granted 1,142,000 0.71 Exercised (218,600) 0.39 36 Cancelled/Forfeited (748,751) 0.36 — Outstanding - December 31, 2018 1,319,149 $ 0.71 3.84 $ 1 Exercised (127,000) 0.52 29 Cancelled/Forfeited (149) 0.52 — Outstanding - March 31, 2019 1,192,000 $ 0.73 3.98 $ 22 Exercisable - March 31, 2019 718,997 $ 0.75 3.89 $ 8 A summary of unvested stock options as of March 31, 2019 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 1,142,000 0.45 Cancelled/Forfeited (246,250) 0.22 Vested (382,331) 0.45 Unvested - December 31, 2018 759,669 $ 0.45 1.14 Vested (286,666) 0.48 Unvested - March 31, 2019 473,003 $ 0.44 1.08 No stock options were granted for the three months ended March 31, 2019. The fair value of stock options granted during the three months ended March 31, 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 76.2 % Risk-free interest rate 2.7 % Expected life (years) 5 Dividend yield Forfeiture assumption — % Option Amendment In July 2018, the Company amended certain 2013 stock option agreements, expiring December 30, 2018 subject to the potential for a temporary extension under the terms of the Plan, for seven executives and directors (the “Option Amendment”). The amendment provided each grantee with the opportunity to receive a cash buyout of certain vested, unexercised 2013 options in lieu of exercising the option to purchase shares. This cash buyout was based on the intrinsic value of each option at the time of the buyout. Options exchanged for cash under the Option Amendment are considered canceled/forfeited. Restricted Stock Units The following table summarizes the RSUs outstanding under the LTIP as of March 31, 2019: Weighted average Number grant-date fair of RSUs value per RSU Unvested - December 31, 2017 1,567,907 $ 0.85 Cancelled/forfeited (246,683) 0.90 Vested, net of shares withheld (637,554) 0.88 Granted 319,000 0.75 Unvested - December 31, 2018 1,002,670 $ 0.78 Cancelled/forfeited (198,821) 0.76 Vested, net of shares withheld (142,380) 0.75 Unvested - March 31, 2019 661,469 $ 0.80 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 three months ended March 31, 2019, the Company withheld Common Shares with an equivalent value to meet the employee withholding tax obligations which resulted from RSUs that vested in the period. Common 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. Phantom Units Weighted average remaining Number of vesting term phantom units (years) Unvested - December 31, 2017 — Granted 265,000 Unvested - December 31, 2018 265,000 1.50 Granted — Unvested - March 31, 2019 265,000 1.25 The Company granted a total of 265,000 phantom units to certain employees. The value of each unit is equal to the Company’s share price on the vesting date and is payable in cash. The phantom units vest on fixed future dates provided the recipient continues to be affiliated with Vista on those dates. The Company will account for these units as awards classified as liabilities with $45 included in current liabilities as of March 31, 2019. The Company recognized $22 of compensation expense for these phantom units in the three months ended March 31, 2019.

Commitments And Contingencies

Commitments And Contingencies	3 Months Ended
	Mar. 31, 2019
Commitments And Contingencies
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	3 Months Ended
	Mar. 31, 2019
Fair Value Accounting
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 March 31, 2019 Total Level 1 Level 3 Other investments (Midas Gold Shares) 4,838 4,838 — Fair value at December 31, 2018 Total Level 1 Level 3 Other investments (Midas Gold Shares) 5,462 5,462 — Used mill equipment (non-recurring) 5,500 — 5,500 Our investment in Midas Gold Shares is classified as Level 1 of the fair value hierarchy as it is valued at quoted market prices in an active market. The used mill equipment is classified as Level 3 of the fair value hierarchy as its value at December 31, 2018 was based on an independent third-party valuation. As of March 31, 2019, 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 2019, nor have there been any changes in valuation techniques.

Geographic And Segment Informat

Geographic And Segment Information	3 Months Ended
	Mar. 31, 2019
Geographic and Segment information
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 months ended March 30, 2019 and 2018. Geographic location of mineral properties and plant and equipment is provided in Notes 4 and 5, respectively.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2019
Subsequent Events
Subsequent Events	10. Subsequent Event Subsequent to the period end, the Company received the second $1,500 option payment for the GdlR Project on April 23, 2019, together with interest of $67. See also Note 4. At the Company’s annual general meeting on May 2 nd , 2019, a deferred share unit plan (the “DSU Plan”) was approved by shareholders. The DSU Plan allows the granting of deferred share units to non-employee directors. The Company will pay one Common Share for each deferred share unit only after the non-employee director has ceased to be a director of the Company. Additionally, the DSU Plan amended the LTIP such that non-employee directors are excluded from participation in the LTIP.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2019
Significant Accounting Policies
Lease Accounting	Lease Accounting In February 2016, the FASB issued ASU No. 2016-02, Leases. The new standard establishes a right-of-use (“ROU”) model that requires a lessee to record an ROU asset and a lease liability on the balance sheet for all leases with terms longer than 12 months. Leases are classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. The Company adopted the standard on January 1, 2019 using the modified retrospective approach. We recognized additional operating liabilities of $186 on adoption, with corresponding ROU assets of the same amount, based on the present value of the remaining lease payments. This standard does not affect the expense recognition of the leases currently held by the Company. On adoption, we also elected the practical expedients, which among other things, does not require reassessment of lease classification. The Company does not include short term leases in its ROU and lease liability calculations. As of March, 31, 2019, the asset and liability were $163. These amounts are broken out into current and non-current assets. $100 is included in other current assets, and accrued liabilities and other, respectively. $63 is included in other non-current assets and lease liability, respectively. The Company’s leases have remaining terms which range from 0.7 to 2.7 years as of March 31, 2019.

Short-term and Other Investme_2

Short-term and Other Investments (Tables)	3 Months Ended
	Mar. 31, 2019
Short-term and Other Investments
Summary of investment in Midas Gold Shares	March 31, 2019 December 31, 2018 Fair value at beginning of period $ 5,462 $ 3,746 Gain/(loss) during the period (624) 1,716 Fair value at end of period $ 4,838 $ 5,462 Midas Gold Shares held at the end of the period 7,802,615 7,802,615

Mineral Properties (Tables)

Mineral Properties (Tables)	3 Months Ended
	Mar. 31, 2019
Mineral Properties
Schedule of Mineral Properties	At March 31, 2019 At December 31, 2018 Mt Todd, Australia $ 2,146 $ 2,146 Guadalupe de los Reyes, Mexico 175 275 $ 2,321 $ 2,421

Plant And Equipment (Tables)

Plant And Equipment (Tables)	3 Months Ended
	Mar. 31, 2019
Plant and Equipment
Schedule Of Plant And Equipment	March 31, 2019 December 31, 2018 Accumulated Accumulated Cost depreciation Net Cost depreciation Net Mt Todd, Australia $ 5,238 $ 5,075 $ 163 $ 5,197 $ 5,062 $ 135 Corporate, United States 333 333 — 333 333 — Used mill equipment, Canada 5,500 — 5,500 5,500 — 5,500 $ 11,071 $ 5,408 $ 5,663 $ 11,030 $ 5,395 $ 5,635

Common Shares (Tables)

Common Shares (Tables)	3 Months Ended
	Mar. 31, 2019
Common Shares
Summary of outstanding warrants	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 December 31, 2018 6,514,625 $ 1.92 0.6 $ — As of March 31, 2019 6,514,625 $ 1.92 0.4 $ —
Summary of stock-based compensation expense	Three Months Ended March 31, 2019 2018 Stock options $ 50 $ 146 Restricted stock units 1 192 $ 51 $ 338 Phantom units (Discussed below) 22 —
Summary of option activity	Weighted average Weighted average remaining Aggregate Number of exercise price contractual term intrinsic options per option (years) value Outstanding - December 31, 2017 1,144,500 0.42 1.15 $ 346 Granted 1,142,000 0.71 Exercised (218,600) 0.39 36 Cancelled/Forfeited (748,751) 0.36 — Outstanding - December 31, 2018 1,319,149 $ 0.71 3.84 $ 1 Exercised (127,000) 0.52 29 Cancelled/Forfeited (149) 0.52 — Outstanding - March 31, 2019 1,192,000 $ 0.73 3.98 $ 22 Exercisable - March 31, 2019 718,997 $ 0.75 3.89 $ 8
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 1,142,000 0.45 Cancelled/Forfeited (246,250) 0.22 Vested (382,331) 0.45 Unvested - December 31, 2018 759,669 $ 0.45 1.14 Vested (286,666) 0.48 Unvested - March 31, 2019 473,003 $ 0.44 1.08
Summary of stock option assumptions	2018 Expected volatility 76.2 % Risk-free interest rate 2.7 % Expected life (years) 5 Dividend yield Forfeiture assumption — %
Summary of restricted stock unit activity	Weighted average Number grant-date fair of RSUs value per RSU Unvested - December 31, 2017 1,567,907 $ 0.85 Cancelled/forfeited (246,683) 0.90 Vested, net of shares withheld (637,554) 0.88 Granted 319,000 0.75 Unvested - December 31, 2018 1,002,670 $ 0.78 Cancelled/forfeited (198,821) 0.76 Vested, net of shares withheld (142,380) 0.75 Unvested - March 31, 2019 661,469 $ 0.80
Summary of phantom units	Weighted average remaining Number of vesting term phantom units (years) Unvested - December 31, 2017 — Granted 265,000 Unvested - December 31, 2018 265,000 1.50 Granted — Unvested - March 31, 2019 265,000 1.25

Fair Value Accounting (Tables)

Fair Value Accounting (Tables)	3 Months Ended
	Mar. 31, 2019
Fair Value Accounting
Schedule of assets measured at fair value	Fair value at March 31, 2019 Total Level 1 Level 3 Other investments (Midas Gold Shares) 4,838 4,838 — Fair value at December 31, 2018 Total Level 1 Level 3 Other investments (Midas Gold Shares) 5,462 5,462 — Used mill equipment (non-recurring) 5,500 — 5,500

Nature of Operations and Basi_2

Nature of Operations and Basis of Presentation (Details) - shares	3 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Midas Gold Shares
Property, Plant and Equipment [Line Items]
Shares owned	7,802,615	7,802,615
Mt Todd, Australia
Property, Plant and Equipment [Line Items]
Percentage of ownership in project	100.00%

Significant Accounting Polici_3

Significant Accounting Policies (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Jan. 01, 2019	Dec. 31, 2018
Significant Accounting Policies
Minimum period for maturity dates for short-term investments	90 days
Accumulated deficit	$ (438,336)		$ (435,684)
Lease accounting
Operating lease liabilities	163
Right of use operating assets	$ 63
Lease, Practical Expedients, Package [true false]	true
Operating Lease, Liability, Current	$ 100
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Accrued Liabilities, Current
Operating Lease, Liability, Noncurrent	$ 63
Other Assets [Member]
Lease accounting
Right of use operating assets	163
Other Current Assets [Member]
Lease accounting
Right of use operating assets	$ 100
Minimum
Lease accounting
Lessee, Operating Lease, Renewal Term	8 months 12 days
Maximum
Lease accounting
Lessee, Operating Lease, Renewal Term	2 years 8 months 12 days
Guadalupe De Los Reyes, Mexico | Option Agreement Two
Revenue recognition
Value of carrying value for option payment proceeds to be recognized as contract liability	$ 0
Accounting Standards Update 2016-02 | Restatement adjustment
Lease accounting
Operating lease liabilities		$ 186
Right of use operating assets		$ 186

Short-tem and Other Investments

Short-tem and Other Investments, Short-term (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Short-term investments
Minimum period for maturity dates for short-term investments	90 days
Available-for-sale Debt Securities, Amortized Cost Basis	$ 6,012	$ 6,997

Short-term and Other Investme_3

Short-term and Other Investments, Summary (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Other Investments
Fair value at beginning of period	$ 5,462
Gain (loss) during the period	(624)	$ 2,028
Fair value at end of period	4,838		$ 5,462
Midas Gold Shares
Other Investments
Fair value at beginning of period	5,462	$ 3,746	3,746
Gain (loss) during the period	(624)		1,716
Fair value at end of period	$ 4,838		$ 5,462
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	Mar. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
Mineral Properties, Net	$ 2,321	$ 2,421
Mt Todd, Australia
Property, Plant and Equipment [Line Items]
Mineral Properties, Net	2,146	2,146
Guadalupe De Los Reyes, Mexico
Property, Plant and Equipment [Line Items]
Mineral Properties, Net	$ 175	$ 275

Mineral Properties, Guadalupe (

Mineral Properties, Guadalupe (Details)	Jan. 23, 2019USD ($)	Oct. 24, 2018USD ($)	Oct. 31, 2018USD ($)	Oct. 31, 2017USD ($)item	Mar. 31, 2019USD ($)
Property, Plant and Equipment [Line Items]
Proceeds from option/sale agreements, net					$ 100,000
Guadalupe De Los Reyes, Mexico | Option Agreement Two
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%
Proceeds from option/sale agreements, net	$ 100,000	$ 50,000	$ 150,000	$ 1,500,000
Value of carrying value for option payment proceeds to be recognized as contract liability					$ 0
Interest rate (as a percent)			1.50%
Guadalupe De Los Reyes, Mexico | Option Agreement Two | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2018-10-01
Property, Plant and Equipment [Line Items]
Future payment			$ 1,500,000
Timing of future payment			6 months
Guadalupe De Los Reyes, Mexico | Option Agreement Two | Open Pit Mining
Property, Plant and Equipment [Line Items]
Aggregate royalty payments to be received				2,000,000
Guadalupe De Los Reyes, Mexico | Option Agreement Two | Execution of Option Agreement
Property, Plant and Equipment [Line Items]
Sale price of gold/silver project				1,500,000
Guadalupe De Los Reyes, Mexico | Option Agreement Two | One Year Anniversary
Property, Plant and Equipment [Line Items]
Sale price of gold/silver project				1,500,000
Guadalupe De Los Reyes, Mexico | Option Agreement Two | Two Year Anniversary
Property, Plant and Equipment [Line Items]
Sale price of gold/silver project				1,500,000
Guadalupe De Los Reyes, Mexico | Option Agreement Two | Before Four Year Anniversary
Property, Plant and Equipment [Line Items]
Sale price of gold/silver project				$ 1,500,000
Guadalupe De Los Reyes, Mexico | Option Agreement Two | Minimum | Open Pit Mining
Property, Plant and Equipment [Line Items]
Net smelter return royalty (as a percent)				1.00%
Gold price (USD per ounce)				$ 1,600
Guadalupe De Los Reyes, Mexico | Option Agreement Two | Minimum | Underground Mining
Property, Plant and Equipment [Line Items]
Net smelter return royalty (as a percent)				1.00%
Gold price (USD per ounce)				$ 1,600
Guadalupe De Los Reyes, Mexico | Option Agreement Two | Maximum | Open Pit Mining
Property, Plant and Equipment [Line Items]
Net smelter return royalty (as a percent)				2.00%
Gold price (USD per ounce)				$ 1,400
Guadalupe De Los Reyes, Mexico | Option Agreement Two | Maximum | Underground Mining
Property, Plant and Equipment [Line Items]
Net smelter return royalty (as a percent)				2.00%
Gold price (USD per ounce)				$ 1,400
Guadalupe De Los Reyes, Mexico | Minera Gold Stake S A de C V | Option Agreement Two
Property, Plant and Equipment [Line Items]
Ownership interest (as a percent)				100.00%

Plant And Equipment (Details)

Plant And Equipment (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
Cost	$ 11,071	$ 11,030
Accumulated depreciation	5,408	5,395
Net	5,663	5,635
Mt Todd, Australia
Property, Plant and Equipment [Line Items]
Cost	5,238	5,197
Accumulated depreciation	5,075	5,062
Net	163	135
Corporate, United States
Property, Plant and Equipment [Line Items]
Cost	333	333
Accumulated depreciation	333	333
Used mill equipment, Canada
Property, Plant and Equipment [Line Items]
Cost	5,500	5,500
Net	$ 5,500	$ 5,500

Common Shares - Warrants (Detai

Common Shares - Warrants (Details) - Warrants - $ / shares	3 Months Ended	12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Class of Warrant or Right [Line Items]
Warrants outstanding (in shares)	6,514,625	6,514,625	6,514,625
Weighted average exercise price of warrants outstanding (in dollars per share)	$ 1.92	$ 1.92	$ 1.92
Weighted average remaining life, warrants outstanding	4 months 24 days	7 months 6 days	1 year 7 months 6 days

Common Shares - Stock-Based Com

Common Shares - Stock-Based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of issued and outstanding Common Shares	10.00%
Stock-based compensation expense	$ 51	$ 338
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	50	146
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	1	$ 192
Phantom Share Units (PSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 22

Common Shares - Unrecognized Co

Common Shares - Unrecognized Compensation (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense related to stock options	$ 109
Weighted average unrecognized compensation recognition period	1 year 1 month 6 days
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense related to unvested awards	$ 108
Weighted average unrecognized compensation recognition period	8 months 12 days
Phantom Share Units (PSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense related to unvested awards	$ 135
Weighted average unrecognized compensation recognition period	1 year 3 months 18 days

Common Shares - Summary Of Opti

Common Shares - Summary Of Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018	Dec. 31, 2017
Common Shares
Number of options, beginning of period (in shares)	1,319,149	1,144,500	1,144,500
Granted, Number of options (in shares)		0	1,142,000
Number of options, Exercised (in shares)	(127,000)		(218,600)
Number of options, Cancelled/Forfeited (in shares)	(149)		(748,751)
Number of options, end of period (in shares)	1,192,000		1,319,149	1,144,500
Number of options, Exercisable (in shares)	718,997
Weighted average exercise price per option, beginning of period (in dollars per share)	$ 0.71	$ 0.42	$ 0.42
Weighted average exercise price per option, Granted (in dollars per share)			0.71
Weighted average exercise price per option, Exercised (in dollars per share)	0.52		0.39
Weighted average exercise price per option, Cancelled/Forfeited (in dollars per share)	0.52		0.36
Weighted average exercise price per option, end of period (in dollars per share)	0.73		$ 0.71	$ 0.42
Weighted average exercise price, Exercisable (in dollars per share)	$ 0.75
Weighted average remaining contractual term, Outstanding	3 years 11 months 23 days		3 years 10 months 2 days	1 year 1 month 24 days
Weighted average remaining contractual term, Exercisable	3 years 10 months 21 days
Aggregate intrinsic value, Outstanding, beginning of period (in dollars)	$ 1	$ 346	$ 346
Aggregate intrinsic value, Exercised (in dollars)	29		36
Aggregate intrinsic value, Outstanding, end of period (in dollars)	22		$ 1	$ 346
Aggregate intrinsic value, Options, Exercisable	$ 8

Common Shares - Summary Of The

Common Shares - Summary Of The Status Of Unvested Stock Options (Details) - $ / shares	3 Months Ended		12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, Number of options (in shares)		0	1,142,000
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested, Number of options, beginning of period (in shares)	759,669	246,250	246,250
Granted, Number of options (in shares)			1,142,000
Cancelled/Forfeited, Number of options (in shares)			(246,250)
Vested, Number of options (in shares)	(286,666)		(382,331)
Unvested, Number of options, end of period (in shares)	473,003		759,669	246,250
Unvested, Weighted average grant date fair value, beginning of period (in dollars per share)	$ 0.45	$ 0.22	$ 0.22
Granted, Weighted average grant-date fair value per option (in dollars per share)			0.45
Cancelled/Forfeited, Weighted average grant-date fair value per option (in dollars per share)			0.22
Vested, Weighted average grant-date fair value per option (in dollars per share)	0.48		0.45
Unvested, Weighted average grant date fair value per option, end of period (in dollars per share)	$ 0.44		$ 0.45	$ 0.22
Weighted average remaining amortization period	1 year 29 days		1 year 1 month 21 days	11 months 27 days

Common Shares - Assumptions (De

Common Shares - Assumptions (Details) - Stock Options	12 Months Ended
	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility (as a percent)	76.20%
Risk-free interest rate (as a percent)	2.70%
Expected life (years)	5 years
Dividend yield	0.00%

Common Shares - Option Amendmen

Common Shares - Option Amendment (Details) $ in Thousands	1 Months Ended	3 Months Ended
	Jul. 31, 2018item	Mar. 31, 2019USD ($)	Mar. 31, 2018USD ($)
Common shares
Stock-based compensation expense | $		$ 51	$ 338
Stock Option Agreement 2013 Amendment
Common shares
Number of executives and directors | item	7

Common Shares - Summary Of Rest

Common Shares - Summary Of Restricted Stock Units Activity (Details) - Restricted Stock Units (RSUs) - $ / shares	3 Months Ended	12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested, Number of units, beginning of period (in shares)	1,002,670	1,567,907
Cancelled/forfeited, Number of units (in shares)	(198,821)	(246,683)
Vested, net of shares withheld, Number of units (in shares)	(142,380)	(637,554)
Granted, Number of units (in shares)		319,000
Unvested, Number of units, end of period (in shares)	661,469	1,002,670
Unvested, weighted average fair value, beginning of year (in dollars per share)	$ 0.78	$ 0.85
Cancelled/forfeited, Weighted average fair value (in dollars per share)	0.76	0.90
Vested, Weighted average fair value (in dollars per share)	0.75	0.88
Granted, Weighted average fair value (in dollars per share)		0.75
Unvested, weighted average fair value, end of year (in dollars per share)	$ 0.80	$ 0.78
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	1 year

Common Shares - Summary Of Phan

Common Shares - Summary Of Phantom Units Activity (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Current liabilities	$ 1,009		$ 872
Stock-based compensation expense	$ 51	$ 338
Phantom Share Units (PSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested, Number of units, beginning of period (in shares)	265,000
Granted, Number of units (in shares)	265,000		265,000
Unvested, Number of units, end of period (in shares)	265,000		265,000
Weighted average remaining contractual term	1 year 3 months		1 year 6 months
Current liabilities	$ 45
Stock-based compensation expense	$ 22

Commitments And Contingencies (

Commitments And Contingencies (Details) - Mt Todd, Australia $ in Thousands	3 Months Ended
	Mar. 31, 2019AUD ($)
Loss Contingencies [Line Items]
Percentage of ownership in project	100.00%
Scenario, Plan
Loss Contingencies [Line Items]
Percentage of ownership in project	90.00%
Scenario, Plan | Jawoyn Association Aboriginal Corporation
Loss Contingencies [Line Items]
Percentage of ownership in project	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	Mar. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Fair Value Accounting
Other investments	$ 4,838	$ 5,462
Fair Value Transfers Between Levels	0
Midas Gold Shares
Fair Value Accounting
Other investments	4,838	5,462	$ 3,746
Recurring | Midas Gold Shares
Fair Value Accounting
Other investments	4,838	5,462
Recurring | Fair Value, Inputs, Level 1 | Midas Gold Shares
Fair Value Accounting
Other investments	$ 4,838	5,462
Non-recurring | Used mill equipment, Canada
Fair Value Accounting
Used mill equipment (non-recurring)		5,500
Non-recurring | Fair Value, Inputs, Level 3 | Used mill equipment, Canada
Fair Value Accounting
Used mill equipment (non-recurring)		$ 5,500

Geographic And Segment Inform_2

Geographic And Segment Information (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)segment	Mar. 31, 2018USD ($)
Geographic and Segment information
Number of reportable segments | segment	1
Revenues | $	$ 0	$ 0

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ in Thousands	Apr. 23, 2019	Jan. 23, 2019	Oct. 24, 2018	Oct. 31, 2018	Oct. 31, 2017	Mar. 31, 2019
Subsequent event
Proceeds from option/sale agreements, net						$ 100
Option Agreement Two | Guadalupe De Los Reyes, Mexico
Subsequent event
Proceeds from option/sale agreements, net		$ 100	$ 50	$ 150	$ 1,500
Interest rate (as a percent)				1.50%
Option Agreement Two | Guadalupe De Los Reyes, Mexico | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2018-10-01
Subsequent event
Future payment				$ 1,500
Timing of future payment				6 months
Option Agreement Two | Subsequent Event [Member] | Guadalupe De Los Reyes, Mexico
Subsequent event
Interest income	$ 67
Proceeds from option/sale agreements, net	$ 1,500