Vista Gold (VGZ) 10-Q30 Apr 212021 Q1 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2021	Apr. 21, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2021
Entity File Number	001-9025
Entity Registrant Name	VISTA GOLD CORP.
Entity Incorporation, State or Country Code	A1
Entity Tax Identification Number	98-0542444
Entity Address, Address Line One	7961 Shaffer Parkway, Suite 5
Entity Address, City or Town	Littleton
Entity Address, State or Province	CO
Entity Address, Postal Zip Code	80127
City Area Code	720
Local Phone Number	981-1185
Title of 12(b) Security	Common Shares
Trading Symbol	VGZ
Security Exchange Name	NYSEAMER
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		104,148,923
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Entity Central Index Key	0000783324
Amendment Flag	false

UNAUDITED CONDENSED CONSOLIDATE

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 7,153	$ 7,762
Short-term investments (Note 3)		400
Other investments, at fair value (Note 3)	263	293
Other current assets	656	952
Total current assets	8,072	9,407
Non-current assets:
Mineral properties (Note 4)	2,146	2,146
Plant and equipment, net (Note 5)	5,632	5,643
Right-of-use assets	29	34
Total non-current assets	7,807	7,823
Total assets	15,879	17,230
Current liabilities:
Accounts payable	176	356
Accrued liabilities and other	857	702
Deferred option gain (Note 4)	1,168	68
Total current liabilities	2,201	1,126
Non-current liabilities:
Provision for environmental liability (Note 7)	240	240
Other liabilities	25	13
Total non-current liabilities	265	253
Total liabilities	2,466	1,379
Commitments and contingencies (Note 8)
Shareholders' equity:
Common shares, no par value - unlimited shares authorized; shares outstanding:	461,162	460,501
Accumulated deficit	(447,749)	(444,650)
Total shareholders' equity	13,413	15,851
Total liabilities and shareholders' equity	$ 15,879	$ 17,230

UNAUDITED CONDENSED CONSOLIDA_2

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	3 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Shareholders' equity:
Common Shares, par value	$ 0	$ 0
Common Stock, Shares Authorized, Unlimited [Fixed List]	Unlimited	Unlimited
Common shares outstanding	103,998,923	103,171,904

UNAUDITED CONDENSED CONSOLIDA_3

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME/(LOSS) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Operating income/(expense):
Exploration, property evaluation and holding costs	$ (1,751)	$ (948)
Corporate administration	(1,315)	(1,376)
Depreciation and amortization	(11)	(12)
Total operating expense	(3,077)	(2,336)
Non-operating income/(expense):
Loss on other investments (Note 3)	(30)	(1,129)
Interest income	1	10
Other income/(expense)	7	(45)
Total non-operating expense	(22)	(1,164)
Loss before income taxes	(3,099)	(3,500)
Net loss	$ (3,099)	$ (3,500)
Basic:
Weighted average number of shares outstanding (in shares)	103,512,054	100,698,124
Net loss per share (Note 6), Basic (in dollars per share)	$ (0.03)	$ (0.03)
Diluted:
Weighted average number of shares outstanding (in shares)	103,512,054	100,698,124
Net loss per share (Note 6), Diluted (in dollars per share)	$ (0.03)	$ (0.03)

UNAUDITED CONDENSED CONSOLIDA_4

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Common Stock [Member]	Accumulated Deficit [Member]	Total
Balances, beginning of period at Dec. 31, 2019	$ 457,716	$ (445,070)	$ 12,646
Balances, beginning of period (in shares) at Dec. 31, 2019	100,698,124
Stock-based compensation (Note 6)	$ 390		390
Net loss		(3,500)	(3,500)
Balances, end of period at Mar. 31, 2020	$ 458,106	(448,570)	9,536
Balances, end of period (in shares) at Mar. 31, 2020	100,698,124
Balances, beginning of period at Dec. 31, 2020	$ 460,501	(444,650)	15,851
Balances, beginning of period (in shares) at Dec. 31, 2020	103,171,904
Shares issued, net of offering costs (Note 6)	$ 434		434
Shares issued, net of offering costs (Note 6) (in shares)	405,800
Shares issued (RSUs vested, net of shares withheld) (Note 6)	$ (194)		(194)
Shares issued (RSUs vested, net of shares withheld) (Note 6) (in shares)	421,219
Stock-based compensation (Note 6)	$ 421		421
Net loss		(3,099)	(3,099)
Balances, end of period at Mar. 31, 2021	$ 461,162	$ (447,749)	$ 13,413
Balances, end of period (in shares) at Mar. 31, 2021	103,998,923

UNAUDITED CONDENSED CONSOLIDA_5

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Cash flows from operating activities:
Net loss	$ (3,099)	$ (3,500)
Adjustments to reconcile net income/(loss) to net cash used in operations:
Depreciation and amortization	11	12
Stock-based compensation	421	390
(Gain)/Loss on other investments	30	1,129
Change in working capital account items:
Other current assets	120	146
Accounts payable, accrued liabilities and other	(8)	80
Net cash used in operating activities	(2,525)	(1,743)
Cash flows from investing activities:
Proceeds from sales of marketable securities		300
Disposition of short-term investments, net	400	2,299
Proceeds from option/sale agreements, net	1,100
Net cash provided by investing activities	1,500	2,599
Cash flows from financing activities:
Proceeds from equity financing, net	610
Payment of taxes from withheld shares	(194)
Net cash provided by financing activities	416
Net increase/(decrease) in cash and cash equivalents	(609)	856
Cash and cash equivalents, beginning of period	7,762	1,408
Cash and cash equivalents, end of period	$ 7,153	$ 2,264

Nature of Operations and Basis

Nature of Operations and Basis of Presentation	3 Months Ended
Nature of Operations and Basis of Presentation	Mar. 31, 2021
Nature of Operations and Basis of Presentation
Nature of Operations and Basis of Presentation	VISTA GOLD CORP. NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Dollar amounts in U.S. dollars and in thousands, except share-related amounts) 1. Nature of Operations and Basis of Presentation Vista Gold Corp. and its subsidiaries (collectively, “Vista,” the “Company,” “we,” “our,” or “us”) operate in the gold mining industry. We focus on 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. We do not currently generate cash flows from mining operations. The Company’s flagship asset is its 100% owned Mt Todd gold project (“Mt Todd” or the “Project”) in Northern Territory, Australia. Vista held other non-core assets at March 31, 2021, including royalty interests in the United States and Indonesia, payments receivable upon cancellation of a royalty on a gold/silver project in Mexico, mill equipment not in use and listed for sale, and other holdings of third-party equity securities. 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, 2020 as filed with the United States Securities and Exchange Commission and Canadian securities regulatory authorities on Form 10-K (the “2020 Financial Statements”). The year-end balance sheet data was derived from 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 $ are to United States dollars.

Significant Accounting Policies

Significant Accounting Policies	3 Months Ended
Significant Accounting Policies	Mar. 31, 2021
Significant Accounting Policies
Significant Accounting Policies	2. Significant Accounting Policies Significant accounting policies are included in the 2020 Financial Statements.

Short-term and Other Investment

Short-term and Other Investments	3 Months Ended
Short-term and Other Investments	Mar. 31, 2021
Short-term and Other Investments
Short-term and Other Investments	3. Short-term and Other Investments Short-term investments As of March 31, 2021, and December 31, 2020, the amortized cost basis of our short-term investments was $nil and $400, respectively, which approximated fair value. Short-term investments at December 31, 2020 were comprised of U.S. government treasury securities and certificates of deposit, all of which had maturity dates on the date of purchase greater than 90 days but less than one year. Investments with maturity dates of 90 days or less were included in cash and cash equivalents. Other investments The Company’s investments in common shares of Nusantara Resources Limited shares (“Nusantara Shares”) were recorded at fair value in the Unaudited Condensed Consolidated Balance Sheet at March 31, 2021. In addition to the Nusantara Shares, Vista also held common shares of Midas Gold Corp. (“Midas Gold Shares”) during the three months ended March 31, 2020. Changes in fair value of the Nusantara Shares and Midas Gold Shares were recorded in the Unaudited Condensed Consolidated Statements of Income/(Loss) in the period in which the changes occurred. The Company held 1,333,334 Nusantara Shares at March 31, 2021 and December 31, 2020. All Midas Gold Shares were sold prior to 2021. The fair value of other investments was $263 and $293 at March 31, 2021 and December 31, 2020, respectively. During the three months ended March 31, 2020, the Company sold 642,000 Midas Gold Shares for net proceeds of $300 and a loss of $15 compared to the most recent measurement period. No Midas Gold Shares were sold during the three months ended March 31, 2021.

Mineral Properties

Mineral Properties	3 Months Ended
Mineral Properties	Mar. 31, 2021
Mineral Properties
Mineral Properties	4. Mineral Properties Mt Todd, Northern Territory, Australia The capitalized mineral property values are as follows: At March 31, 2021 At December 31, 2020 Mt Todd, Australia $ 2,146 $ 2,146 Vista acquired Mt Todd in March 2006. Transaction-related costs of $2,146 were capitalized as mineral properties. This amount included the purchase price and related transaction costs. Since 2006, the Company has systematically advanced the Project through exploration, metallurgical testing, engineering, and environmental/operational permitting activities conducted in addition to ongoing site management activities. Costs associated with these activities were charged to expense as incurred. See Note 8 for other commitments to the Jawoyn Association Aboriginal Corporation (the “Jawoyn Association”). Guadalupe de Los Reyes, Sinaloa, Mexico In July 2020, the Company completed the sale of the Guadalupe de los Reyes gold and silver project in Sinaloa, Mexico (“Los Reyes”) to Prime Mining Corporation (“Prime Mining”). Under the terms of sale, Prime Mining was required to make additional payments to Vista of $2,100 in lieu of Vista being granted certain royalty and back-in rights. Prime Mining paid $1,100 in January 2021 and $1,000 is due in July 2021. The $1,100 received in January is carried as deferred option gain at March 31, 2021. If Prime Mining fails to make the final payment, Vista will have the right to reinstate its royalty and back-in rights. Awak Mas, Sulawesi, Indonesia Vista holds a net smelter return royalty (“NSR”) on the Awak Mas project in Indonesia. During 2019, Vista and the holder of Awak Mas amended the original royalty agreement to allow the holder or a nominated party to make a $2,400 payment to Vista by April 30, 2020 to cancel a 1% NSR on the first 1,250,000 ounces produced at Awak Mas and a 1.25% NSR on the next 1,250,000 ounces produced. On May 5, 2020, the Company received $2,400 to cancel the related 1% NSR and 1.25% NSR. The gain recognized upon receipt of this payment was $2,568, which included the $2,400 payment plus $168 of previously deferred option gain. Thereafter, the holder of Awak Mas or a nominated party had the right to cancel the remaining 1% NSR and 1.25% NSR for an additional payment of $2,500 by April 30, 2021, at which time the Company will recognize a gain for this amount and $68 that is currently carried as deferred option gain. Vista and the holder of Awak Mas agreed in April 2021 to extend the payment date for the remaining $2,500 to not later than January 31, 2022 upon payment of certain extension fees by the holder or a nominated party. If the holder does not make this final payment by not later than January 31, 2022, Vista will retain the remaining royalty interests.

Plant And Equipment

Plant And Equipment	3 Months Ended
Plant And Equipment	Mar. 31, 2021
Plant and Equipment
Plant And Equipment	5. Plant and Equipment March 31, 2021 December 31, 2020 Accumulated Accumulated Cost Depreciation Net Cost Depreciation Net Mt Todd, Australia $ 5,306 $ 5,174 $ 132 $ 5,306 $ 5,163 $ 143 Corporate, United States 333 333 — 333 333 — Used mill equipment, Canada 5,500 — 5,500 5,500 — 5,500 $ 11,139 $ 5,507 $ 5,632 $ 11,139 $ 5,496 $ 5,643 The used mill equipment is not in use and is listed for sale through a third-party mining equipment dealer. This equipment is not classified as held for sale due to uncertainty as to whether a sale can be completed within one year.

Common Shares

Common Shares	3 Months Ended
Common Shares	Mar. 31, 2021
Common Shares
Common Shares	6. Common Shares Equity Financing Vista previously entered into an at-the-market offering agreement (the “ATM Agreement”) with H. C. Wainwright & Co., LLC (“Wainwright”), under which the Company may, but is not obligated to, issue and sell common shares of the Company (“Common Shares”) through Wainwright for aggregate sales proceeds of up to $10,000 (the “ATM Program”). No securities will be offered in Canada under the ATM Agreement. The ATM Agreement was amended in June 2020 to remain in force until terminated by either party. During the three months ended March 31, 2021 the Company sold 405,800 Common Shares under the ATM Program for net proceeds of $434, of which $15 was settled in April 2021. No offers or sales were made under the ATM Program during the three months ended March 31, 2020. Each sale under the ATM Agreement was made pursuant to an “at the market offering” as defined in Rule 415 under the United States Securities Act of 1933, as amended. Stock-Based Compensation The Company’s stock-based compensation plans include: restricted share units (“RSUs”) issuable pursuant to the Company’s long-term equity incentive plan (“LTIP”), deferred share units (“DSUs”) issuable pursuant to the Company’s deferred share unit plan (“DSU Plan”) and stock options (“Stock Options”) issuable under the Company’s stock option plan (the “Plan”). Stock-based compensation may be issued to our directors, officers, employees and consultants. The maximum number of Common Shares that may be reserved for issuance under the combined stock-based compensation plans is a variable number equal to 10% of the issued and outstanding Common Shares on a non-diluted basis at any one time. Vista also issued phantom units in 2018 to be settled in cash over a three-year term. Stock-based compensation and phantom units may be granted from time to time at the discretion of the Board of Directors of the Company (the “Board”), with vesting provisions as determined by the Board. Stock-based compensation expense (income) was: Three Months Ended March 31, 2021 2020 RSUs $ 206 $ 151 DSUs 212 209 Stock Options 3 30 $ 421 $ 390 Phantom units $ 18 $ (1) As of March 31, 2021, unrecognized compensation expense for RSUs and phantom units was $779 and $19, respectively, which is expected to be recognized over weighted average periods of 1.5 and 0.3 years, respectively. Restricted Share Units The following table summarizes RSU activity: Weighted Average Number Grant-Date Fair of RSUs Value Per RSU Unvested - December 31, 2019 1,491,301 $ 0.51 Granted 1,609,000 0.41 Cancelled/forfeited (237,853) 0.60 Vested, net of shares withheld (395,446) 0.63 Unvested - December 31, 2020 2,467,002 $ 0.42 Granted 891,000 0.76 Cancelled/forfeited (212,445) 0.56 Vested, net of shares withheld (421,219) 0.55 Unvested - March 31, 2021 2,724,338 $ 0.50 During the three months ended March 31, 2021, the Company withheld Common Shares with an equivalent value to meet employee withholding tax obligations of $194 that resulted upon vesting of RSUs during the period. No RSU vesting events occurred during the three months ended March 31, 2020. Common Shares withheld are considered cancelled/forfeited. Deferred Share Units The DSU Plan provides for granting of DSUs to non-employee directors. DSUs vest immediately, however the Company will issue one Common Share for each DSU only after the non-employee director ceases to be a director of the Company. In February 2021, the Board granted 204,000 DSUs and the Company recognized $212 in DSU expense. In March 2020, the Board granted 360,000 DSUs and the Company recognized $209 in DSU expense. The following table summarizes DSU activity: Weighted Average Number of Grant-Date Fair DSUs Value per DSU Unvested - December 31, 2019 366,000 $ 0.57 Granted 360,000 0.58 Outstanding - December 31, 2020 726,000 $ 0.57 Granted 204,000 1.04 Outstanding - March 31, 2021 930,000 $ 0.68 Stock Options The following table summarizes option activity: Weighted Average Weighted Average Remaining Aggregate Number of Exercise Price Contractual Term Intrinsic Options Per Option (Years) Value Outstanding - December 31, 2019 1,437,000 $ 0.73 3.49 $ 35 Granted 50,000 0.51 Exercised (50,000) 0.75 9 Cancelled/Forfeited (70,000) 1.02 — Outstanding - December 31, 2020 1,367,000 $ 0.71 2.63 $ 507 Outstanding - March 31, 2021 1,367,000 $ 0.71 2.39 $ 479 Exercisable - March 31, 2021 1,333,667 $ 0.71 2.37 $ 467 The following table summarizes unvested option activity: Weighted Weighted Average Average Remaining Grant-Date Amortization Number of Fair Value Period Options Per Option (Years) Unvested - December 31, 2019 514,004 $ 0.40 0.61 Granted 50,000 0.20 Vested (530,671) 0.38 Unvested - December 31, 2020 33,333 $ 0.31 0.25 Unvested - March 31, 2021 33,333 $ 0.31 0.01 Phantom Units The following table summarizes phantom units activity: Weighted Average Remaining Number of Vesting Term Phantom Units (Years) Unvested - December 31, 2019 144,000 1.00 Vested (72,000) Unvested - December 31, 2020 72,000 0.50 Unvested - March 31, 2021 72,000 0.25

Provision for Environmental Lia

Provision for Environmental Liability	3 Months Ended
Provision for Environmental Liability	Mar. 31, 2021
Provision for Environmental Liability
Provision for Environmental Liability	7. Provision for Environmental Liability Vista maintains a $240 provision for reclamation costs attributable to certain mining claims previously held by the Company should no other potentially responsible parties be identified.

Commitments And Contingencies

Commitments And Contingencies	3 Months Ended
Commitments And Contingencies	Mar. 31, 2021
Commitments And Contingencies
Commitments And Contingencies	8. 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, future expenditures that may be required for compliance with these laws and regulations cannot be predicted. We conduct our operations in a manner designed to minimize effects on the environment and believe our operations are in compliance with applicable laws and regulations in all material respects. In November 2020, we modified our agreement with the Jawoyn Association with respect to Mt Todd. The modified agreement provides the Jawoyn Association with a gross proceeds royalty (“GPR”) ranging between 0.125% and 2.0%, depending on prevailing gold prices and foreign exchange rates, instead of its previous right to become a 10% participating joint venture partner in the Mt Todd project. The modified agreement did not affect the previously agreed 1.0% GPR granted to the Jawoyn Association. The combined GPR now ranges from 1.125% to 3.0%.

Fair Value Accounting

Fair Value Accounting	3 Months Ended
Fair Value Accounting	Mar. 31, 2021
Fair Value Accounting
Fair Value Accounting	9. Fair Value Accounting The following table sets forth the Company’s assets measured at fair value by level within the fair value hierarchy. Fair Value at March 31, 2021 Total Level 1 Level 3 Other investments $ 263 $ 263 $ — Fair Value at December 31, 2020 Total Level 1 Level 3 Other investments $ 293 $ 293 $ — At March 31, 2021 and December 31, 2020, our investment in Nusantara Shares was classified as Level 1 of the fair value hierarchy as they are valued at quoted market prices in an active market. There have been no transfers between levels in 2021, nor have there been any changes in valuation techniques.

Geographic and Segment informat

Geographic and Segment information	3 Months Ended
Geographic and Segment information	Mar. 31, 2021
Geographic and Segment information
Geographic And Segment Information	10. 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 31, 2021 and 2020. Geographic location of mineral properties and plant and equipment is provided in Notes 4 and 5, respectively.

Mineral Properties (Tables)

Mineral Properties (Tables)	3 Months Ended
Mineral Properties (Tables)	Mar. 31, 2021
Mineral Properties
Schedule of Mineral Properties	At March 31, 2021 At December 31, 2020 Mt Todd, Australia $ 2,146 $ 2,146

Plant and Equipment (Tables)

Plant and Equipment (Tables)	3 Months Ended
Plant and Equipment (Tables)	Mar. 31, 2021
Plant and Equipment
Schedule Of Plant And Equipment	March 31, 2021 December 31, 2020 Accumulated Accumulated Cost Depreciation Net Cost Depreciation Net Mt Todd, Australia $ 5,306 $ 5,174 $ 132 $ 5,306 $ 5,163 $ 143 Corporate, United States 333 333 — 333 333 — Used mill equipment, Canada 5,500 — 5,500 5,500 — 5,500 $ 11,139 $ 5,507 $ 5,632 $ 11,139 $ 5,496 $ 5,643

Common Shares (Tables)

Common Shares (Tables)	3 Months Ended
Common Shares (Tables)	Mar. 31, 2021
Common Shares
Summary of stock-based compensation expense	Three Months Ended March 31, 2021 2020 RSUs $ 206 $ 151 DSUs 212 209 Stock Options 3 30 $ 421 $ 390 Phantom units $ 18 $ (1)
Summary of restricted stock unit activity	Weighted Average Number Grant-Date Fair of RSUs Value Per RSU Unvested - December 31, 2019 1,491,301 $ 0.51 Granted 1,609,000 0.41 Cancelled/forfeited (237,853) 0.60 Vested, net of shares withheld (395,446) 0.63 Unvested - December 31, 2020 2,467,002 $ 0.42 Granted 891,000 0.76 Cancelled/forfeited (212,445) 0.56 Vested, net of shares withheld (421,219) 0.55 Unvested - March 31, 2021 2,724,338 $ 0.50
Summary of deferred stock units	Weighted Average Number of Grant-Date Fair DSUs Value per DSU Unvested - December 31, 2019 366,000 $ 0.57 Granted 360,000 0.58 Outstanding - December 31, 2020 726,000 $ 0.57 Granted 204,000 1.04 Outstanding - March 31, 2021 930,000 $ 0.68
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, 2019 1,437,000 $ 0.73 3.49 $ 35 Granted 50,000 0.51 Exercised (50,000) 0.75 9 Cancelled/Forfeited (70,000) 1.02 — Outstanding - December 31, 2020 1,367,000 $ 0.71 2.63 $ 507 Outstanding - March 31, 2021 1,367,000 $ 0.71 2.39 $ 479 Exercisable - March 31, 2021 1,333,667 $ 0.71 2.37 $ 467
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, 2019 514,004 $ 0.40 0.61 Granted 50,000 0.20 Vested (530,671) 0.38 Unvested - December 31, 2020 33,333 $ 0.31 0.25 Unvested - March 31, 2021 33,333 $ 0.31 0.01
Summary of phantom units	Weighted Average Remaining Number of Vesting Term Phantom Units (Years) Unvested - December 31, 2019 144,000 1.00 Vested (72,000) Unvested - December 31, 2020 72,000 0.50 Unvested - March 31, 2021 72,000 0.25

Fair Value Accounting (Tables)

Fair Value Accounting (Tables)	3 Months Ended
Fair Value Accounting (Tables)	Mar. 31, 2021
Fair Value Accounting
Schedule of assets measured at fair value	Fair Value at March 31, 2021 Total Level 1 Level 3 Other investments $ 263 $ 263 $ — Fair Value at December 31, 2020 Total Level 1 Level 3 Other investments $ 293 $ 293 $ —

Nature of Operations and Basi_2

Nature of Operations and Basis of Presentation (Details)	3 Months Ended
Nature of Operations and Basis of Presentation (Details)	Mar. 31, 2021
Mt Todd, Australia
Property, Plant and Equipment [Line Items]
Percentage of ownership in project	100.00%

Short-term and Other Investme_2

Short-term and Other Investments - Short-term (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Short-term investments
Available-for-sale Debt Securities, Amortized Cost Basis		$ 400

Short-term and Other Investme_3

Short-term and Other Investments - Summary (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Other Investments
Proceeds from Sale and Maturity of Marketable Securities		$ 300
Other investments, at fair value	$ 263		$ 293
Midas Gold Shares [Member]
Other Investments
Number Marketable Securities Sold	0	642,000
Proceeds from Sale and Maturity of Marketable Securities		$ 300
Marketable Securities, Realized Gain (Loss)		$ 15
Nusantara Resources
Other Investments
Shares owned	1,333,334		1,333,334

Mineral Properties - Properties

Mineral Properties - Properties (Details) - USD ($) $ in Thousands	1 Months Ended
	Mar. 31, 2006	Mar. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Mineral Properties, Net		$ 2,146	$ 2,146
Mt Todd, Australia
Property, Plant and Equipment [Line Items]
Mineral Properties, Net		$ 2,146	$ 2,146
Acquisition Costs, Period Cost	$ 2,146

Mineral Properties - Guadalupe

Mineral Properties - Guadalupe (Details) - USD ($) $ in Thousands	1 Months Ended
	Jul. 31, 2021	Jan. 31, 2021	Mar. 31, 2021	Dec. 31, 2020	Jun. 30, 2020
Property, Plant and Equipment [Line Items]
Mineral properties, Net			$ 2,146	$ 2,146
Deferred option gain			1,168	$ 68
Guadalupe De Los Reyes, Mexico \| Option Agreement Two
Property, Plant and Equipment [Line Items]
Payments Receivable In Lieu Of Grant Of Royalty And Back-In Rights					$ 2,100
Payments Received In Lieu Of Grant Of Royalty And Back-In Rights		$ 1,100
Deferred option gain			$ 1,100
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-07-31 \| Guadalupe De Los Reyes, Mexico \| Option Agreement Two
Property, Plant and Equipment [Line Items]
Payments Received In Lieu Of Grant Of Royalty And Back-In Rights	$ 1,000

Mineral Properties - Awak Mas (

Mineral Properties - Awak Mas (Details) - PT Masmindo Dwi Area - Awak Mas $ in Thousands	May 05, 2020USD ($)	Nov. 01, 2019USD ($)oz	Apr. 30, 2021USD ($)	Mar. 31, 2021USD ($)	May 04, 2020USD ($)
Property, Plant and Equipment [Line Items]
NSR Cancellation Proceeds	$ 2,400
Disposal Group, Deferred Gain on Disposal				$ 68	$ 168
Gain (Loss) On Disposal Of Mineral Property Interests, Net	$ 2,568
First 1,250,000 Ounces Produced
Property, Plant and Equipment [Line Items]
NSR Royalty Cancellation, Percentage		1.00%
Remaining NSR Royalty Cancellation, Percentage	1.00%
Net Smelter Return Royalty Agreement Benchmark \| oz		1,250,000
NSR Royalty Cancelled Percentage	1.00%
Next 1,250,000 Ounces Produced
Property, Plant and Equipment [Line Items]
NSR Royalty Cancellation, Percentage		1.25%
Remaining NSR Royalty Cancellation, Percentage	1.25%
Net Smelter Return Royalty Agreement Benchmark \| oz		1,250,000
NSR Royalty Cancelled Percentage	1.25%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-04-30 \| First 1,250,000 Ounces Produced
Property, Plant and Equipment [Line Items]
NSR Cancellation Receivable		$ 2,400
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-04-30
Property, Plant and Equipment [Line Items]
NSR Cancellation Proceeds	$ 2,500
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-31 \| Subsequent Event [Member]
Property, Plant and Equipment [Line Items]
NSR Cancellation Proceeds			$ 2,500

Plant and Equipment (Details)

Plant and Equipment (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Cost	$ 11,139	$ 11,139
Accumulated depreciation	5,507	5,496
Net	5,632	5,643
Mt Todd, Australia
Property, Plant and Equipment [Line Items]
Cost	5,306	5,306
Accumulated depreciation	5,174	5,163
Net	132	143
Corporate, United States
Property, Plant and Equipment [Line Items]
Cost	333	333
Accumulated depreciation	333	333
Net	0	0
Used mill equipment, Canada
Property, Plant and Equipment [Line Items]
Cost	5,500	5,500
Accumulated depreciation	0	0
Net	$ 5,500	$ 5,500

Common Shares - ATM Agreement (

Common Shares - ATM Agreement (Details)	1 Months Ended		3 Months Ended
Common Shares - ATM Agreement (Details)	Apr. 30, 2021USD ($)	Jun. 30, 2020USD ($)	Mar. 31, 2021USD ($)securityshares	Mar. 31, 2020USD ($)
Subsidiary, Sale of Stock [Line Items]
Proceeds from Issuance of Common Stock			$ 610,000
At-The-Market Offering Agreement [Member] \| H. C. Wainwright And Co., LLC [Member]
Subsidiary, Sale of Stock [Line Items]
Threshold of aggregate sales proceeds		$ 10,000,000
Stock Issued During Period, Shares, New Issues \| shares			405,800
Proceeds from Issuance of Common Stock			$ 434,000
Offers or sales of common shares under Agreement to be made in Canada \| security			0
Offers or sales of common shares				$ 0
At-The-Market Offering Agreement [Member] \| H. C. Wainwright And Co., LLC [Member] \| Subsequent Event [Member]
Subsidiary, Sale of Stock [Line Items]
Proceeds from Issuance of Common Stock	$ 15,000

Common Shares - Stock-Based Com

Common Shares - Stock-Based Compensation (Details) - USD ($) $ in Thousands	1 Months Ended		3 Months Ended		12 Months Ended
	Feb. 28, 2021	Mar. 31, 2020	Mar. 31, 2021	Mar. 31, 2020	Dec. 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			$ 421	$ 390
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense			3	30
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense			206	151
Deferred Stock Units (DSU) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 212	$ 209	212	209
Phantom Share Units (PSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period					3 years
Stock-based compensation expense			$ 18	$ (1)

Common Shares - Unrecognized Co

Common Shares - Unrecognized Compensation (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense related to unvested awards	$ 779
Weighted average unrecognized compensation recognition period	1 year 6 months
Phantom Share Units (PSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense related to unvested awards	$ 19
Weighted average unrecognized compensation recognition period	3 months 18 days

Common Shares - Summary Of Rest

Common Shares - Summary Of Restricted Stock Units Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payments Related to Tax Withholding for Share-based Compensation	$ 194
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested, Number of units, beginning of period (in shares)	2,467,002	1,491,301	1,491,301
Granted, Number of units (in shares)	891,000		1,609,000
Cancelled/forfeited, Number of units (in shares)	(212,445)		(237,853)
Vested, net of shares withheld, Number of units (in shares)	(421,219)		(395,446)
Unvested, Number of units, end of period (in shares)	2,724,338		2,467,002
Unvested, weighted average fair value, beginning of period (in dollars per share)	$ 0.42	$ 0.51	$ 0.51
Granted, Weighted average fair value (in dollars per share)	0.76		0.41
Cancelled/forfeited, Weighted average fair value (in dollars per share)	0.56		0.60
Vested, Weighted average fair value (in dollars per share)	0.55		0.63
Unvested, weighted average fair value, end of period (in dollars per share)	$ 0.50		$ 0.42
Payments Related to Tax Withholding for Share-based Compensation	$ 194	$ 0

Common Shares - Summary Of Defe

Common Shares - Summary Of Deferred Share Units Activity (Details) $ / shares in Units, $ in Thousands	1 Months Ended		3 Months Ended		12 Months Ended
	Feb. 28, 2021USD ($)shares	Mar. 31, 2020USD ($)shares	Mar. 31, 2021USD ($)$ / sharesshares	Mar. 31, 2020USD ($)$ / sharesshares	Dec. 31, 2020$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated Share-based Compensation Expense \| $			$ 421	$ 390
Deferred Stock Units (DSU) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of common shares issues for each DSU (at end of board members' team).			1
Unvested, Number of units, beginning of period (in shares) \| shares			726,000	366,000	366,000
Granted, Number of units (in shares) \| shares	204,000	360,000	204,000		360,000
Unvested, Number of units, end of period (in shares) \| shares			930,000		726,000
Unvested, weighted average fair value, beginning of period (in dollars per share) \| $ / shares			$ 0.57	$ 0.57	$ 0.57
Granted, Weighted average fair value (in dollars per share) \| $ / shares			1.04		0.58
Unvested, weighted average fair value, end of period (in dollars per share) \| $ / shares			$ 0.68		$ 0.57
Allocated Share-based Compensation Expense \| $	$ 212	$ 209	$ 212	$ 209

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, 2021	Dec. 31, 2020	Dec. 31, 2019
Common Shares
Number of options, beginning of period (in shares)	1,367,000	1,437,000
Granted, Number of options (in shares)		50,000
Number of options, Exercised (in shares)		(50,000)
Number of options, Cancelled/Forfeited (in shares)		(70,000)
Number of options, end of period (in shares)	1,367,000	1,367,000	1,437,000
Number of options, Exercisable (in shares)	1,333,667
Weighted average exercise price per option, beginning of period (in dollars per share)	$ 0.71	$ 0.73
Weighted average exercise price per option, Granted (in dollars per share)		0.51
Weighted average exercise price per option, Exercised (in dollars per share)		0.75
Weighted average exercise price per option, Cancelled/Forfeited (in dollars per share)		1.02
Weighted average exercise price per option, end of period (in dollars per share)	0.71	$ 0.71	$ 0.73
Weighted average exercise price, Exercisable (in dollars per share)	$ 0.71
Weighted average remaining contractual term, Outstanding	2 years 4 months 20 days	2 years 7 months 17 days	3 years 5 months 26 days
Weighted average remaining contractual term, Exercisable	2 years 4 months 13 days
Aggregate intrinsic value, Outstanding, beginning of period (in dollars)	$ 507	$ 35
Aggregate intrinsic value, Exercised (in dollars)		$ 9
Aggregate intrinsic value, Cancelled/Forfeited (in dollars)		$ 0
Aggregate intrinsic value, Outstanding, end of period (in dollars)	479	$ 507	$ 35
Aggregate intrinsic value, Options, Exercisable	$ 467

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, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, Number of options (in shares)		50,000
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested, Number of options, beginning of period (in shares)	33,333	514,004
Granted, Number of options (in shares)		50,000
Vested, Number of options (in shares)		(530,671)
Unvested, Number of options, end of period (in shares)	33,333	33,333	514,004
Unvested, Weighted average grant date fair value, beginning of period (in dollars per share)	$ 0.31	$ 0.40
Granted, Weighted average grant-date fair value per option (in dollars per share)		0.20
Vested, Weighted average grant-date fair value per option (in dollars per share)		0.38
Unvested, Weighted average grant date fair value per option, end of period (in dollars per share)	$ 0.31	$ 0.31	$ 0.40
Weighted average remaining amortization period	3 days	3 months	7 months 9 days

Common Shares - Summary Of Phan

Common Shares - Summary Of Phantom Units Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Liabilities, Current	$ 2,201		$ 1,126
Stock-based compensation expense	$ 421	$ 390
Earnings Per Share, Basic	$ (0.03)	$ (0.03)
Phantom Share Units (PSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 18	$ (1)
Unvested, Number of units, beginning of period (in shares)	72,000	144,000	144,000
Vested, net of shares withheld, Number of units (in shares)			(72,000)
Unvested, Number of units, end of period (in shares)	72,000		72,000	144,000
Weighted average remaining contractual term	3 months		6 months	1 year

Provision for Environmental L_2

Provision for Environmental Liability (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Provision for Environmental Liability
Provision for environmental liability	$ 240	$ 240

Commitments And Contingencies (

Commitments And Contingencies (Details) - Mt Todd, Australia	Oct. 31, 2020	Mar. 31, 2021
Loss Contingencies [Line Items]
Percentage of ownership in project		100.00%
Scenario, Plan \| Jawoyn Association Aboriginal Corporation
Loss Contingencies [Line Items]
Percentage of ownership in project	10.00%
Percentage of royalty on gold		1.00%
Scenario, Plan \| Minimum \| Jawoyn Association Aboriginal Corporation
Loss Contingencies [Line Items]
Gross Proceeds Royalty, Additional Contingent Gross Proceeds Royalty, Percent		0.125%
Gross Proceeds Royalty, Including Contingent Additional Gross Proceeds Royalty, Percent		1.125%
Scenario, Plan \| Maximum \| Jawoyn Association Aboriginal Corporation
Loss Contingencies [Line Items]
Gross Proceeds Royalty, Additional Contingent Gross Proceeds Royalty, Percent		2.00%
Gross Proceeds Royalty, Including Contingent Additional Gross Proceeds Royalty, Percent		3.00%

Fair Value Accounting (Details)

Fair Value Accounting (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Fair Value Accounting
Other investments, at fair value	$ 263	$ 293
Fair Value Transfers Between Levels	0
Recurring
Fair Value Accounting
Other investments, at fair value	263	293
Recurring \| Fair Value, Inputs, Level 1 [Member]
Fair Value Accounting
Other investments, at fair value	263	293
Recurring \| Fair Value, Inputs, Level 3 [Member]
Fair Value Accounting
Other investments, at fair value	$ 0	$ 0

Geographic And Segment Inform_2

Geographic And Segment Information (Details) $ in Thousands	3 Months Ended
Geographic And Segment Information (Details) $ in Thousands	Mar. 31, 2021USD ($)segment	Mar. 31, 2020USD ($)
Geographic and Segment information
Number of reportable segments \| segment	1
Revenues \| $	$ 0	$ 0