Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2021 | Oct. 20, 2021 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Sep. 30, 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 | 117,189,232 | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Year Focus | 2021 | |
Document Fiscal Period Focus | Q3 | |
Entity Central Index Key | 0000783324 | |
Amendment Flag | false |
UNAUDITED CONDENSED CONSOLIDATE
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Current assets: | ||
Cash and cash equivalents | $ 16,018 | $ 7,762 |
Short-term investments (Note 3) | 400 | |
Other investments, at fair value (Note 3) | 334 | 293 |
Other current assets | 461 | 952 |
Total current assets | 16,813 | 9,407 |
Non-current assets: | ||
Mineral properties (Note 4) | 2,146 | 2,146 |
Plant and equipment, net (Note 5) | 5,712 | 5,643 |
Right-of-use assets | 19 | 34 |
Total non-current assets | 7,877 | 7,823 |
Total assets | 24,690 | 17,230 |
Current liabilities: | ||
Accounts payable | 555 | 356 |
Accrued liabilities and other | 1,035 | 702 |
Deferred option gain (Note 4) | 383 | 68 |
Total current liabilities | 1,973 | 1,126 |
Non-current liabilities: | ||
Provision for environmental liability (Note 7) | 240 | 240 |
Other liabilities | 27 | 13 |
Total non-current liabilities | 267 | 253 |
Total liabilities | 2,240 | 1,379 |
Commitments and contingencies (Note 8) | ||
Shareholders' equity: | ||
Common shares, no par value - unlimited shares authorized; shares outstanding: 2021 - 117,189,232 and 2020 - 103,171,904 (Note 6) | 474,021 | 460,501 |
Accumulated deficit | (451,571) | (444,650) |
Total shareholders' equity | 22,450 | 15,851 |
Total liabilities and shareholders' equity | $ 24,690 | $ 17,230 |
UNAUDITED CONDENSED CONSOLIDA_2
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
Shareholders' equity: | ||
Common Shares, par value | $ 0 | $ 0 |
Common Stock, Shares Authorized, Unlimited [Fixed List] | Unlimited | Unlimited |
Common shares outstanding | 117,189,232 | 103,171,904 |
UNAUDITED CONDENSED CONSOLIDA_3
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME/(LOSS) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Operating income/(expense): | ||||
Gain on disposal of mineral property interests, net (Note 4) | $ 3,540 | $ 2,100 | $ 6,108 | |
Exploration, property evaluation and holding costs | $ (2,269) | (1,034) | (6,006) | (2,942) |
Corporate administration | (818) | (891) | (3,064) | (3,144) |
Depreciation and amortization | (13) | (11) | (36) | (34) |
Total operating income/(expense) | (3,100) | 1,604 | (7,006) | (12) |
Non-operating income: | ||||
Gain/(loss) on other investments (Note 3) | (6) | 2,437 | 41 | 2,407 |
Interest income | 1 | 1 | 2 | 15 |
Other income | 36 | 178 | 42 | 212 |
Total non-operating income | 31 | 2,616 | 85 | 2,634 |
Income/(loss) before income taxes | (3,069) | 4,220 | (6,921) | 2,622 |
Net income/(loss) | $ (3,069) | $ 4,220 | $ (6,921) | $ 2,622 |
Basic: | ||||
Weighted average number of shares outstanding (in shares) | 115,586,268 | 102,368,232 | 107,929,202 | 101,482,849 |
Net income/(loss) per share | $ (0.02) | $ 0.05 | $ (0.06) | $ 0.03 |
Diluted: | ||||
Weighted average number of shares outstanding (in shares) | 115,586,268 | 105,504,340 | 107,929,202 | 103,992,868 |
Net income/(loss) per share | $ (0.02) | $ 0.05 | $ (0.06) | $ 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 | ||
Shares issued, net of offering costs (Note 6) | $ 1,436 | 1,436 | |
Shares issued, net of offering costs (Note 6) (in shares) | 1,541,134 | ||
Shares issued (RSUs vested, net of shares withheld) (Note 6) | $ (124) | (124) | |
Shares issued (RSUs vested, net of shares withheld) (Note 6) (in shares) | 395,446 | ||
Shares issued (exercise of stock options) | $ 37 | 37 | |
Shares issued (exercise of stock options) (in shares) | 50,000 | ||
Stock-based compensation (Note 6) | $ 757 | 757 | |
Net income (loss) | 2,622 | 2,622 | |
Balances, end of period at Sep. 30, 2020 | $ 459,822 | (442,448) | 17,374 |
Balances, end of period (in shares) at Sep. 30, 2020 | 102,684,704 | ||
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 | ||
Shares issued (exercise of stock options) (in shares) | 50,000 | ||
Balances, end of period at Dec. 31, 2020 | $ 460,501 | (444,650) | $ 15,851 |
Balances, end of period (in shares) at Dec. 31, 2020 | 103,171,904 | ||
Balances, beginning of period at Jun. 30, 2020 | $ 459,055 | (446,668) | 12,387 |
Balances, beginning of period (in shares) at Jun. 30, 2020 | 102,096,256 | ||
Shares issued, net of offering costs (Note 6) | $ 629 | 629 | |
Shares issued, net of offering costs (Note 6) (in shares) | 509,315 | ||
Shares issued (RSUs vested, net of shares withheld) (Note 6) | $ (27) | (27) | |
Shares issued (RSUs vested, net of shares withheld) (Note 6) (in shares) | 79,133 | ||
Stock-based compensation (Note 6) | $ 165 | 165 | |
Net income (loss) | 4,220 | 4,220 | |
Balances, end of period at Sep. 30, 2020 | $ 459,822 | (442,448) | 17,374 |
Balances, end of period (in shares) at Sep. 30, 2020 | 102,684,704 | ||
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) | $ 13,194 | 13,194 | |
Shares issued, net of offering costs (Note 6) (in shares) | 13,071,000 | ||
Shares issued (RSUs vested, net of shares withheld) (Note 6) | $ (401) | (401) | |
Shares issued (RSUs vested, net of shares withheld) (Note 6) (in shares) | 946,328 | ||
Stock-based compensation (Note 6) | $ 727 | 727 | |
Net income (loss) | (6,921) | (6,921) | |
Balances, end of period at Sep. 30, 2021 | $ 474,021 | (451,571) | 22,450 |
Balances, end of period (in shares) at Sep. 30, 2021 | 117,189,232 | ||
Balances, beginning of period at Jun. 30, 2021 | $ 461,560 | (448,502) | 13,058 |
Balances, beginning of period (in shares) at Jun. 30, 2021 | 104,909,837 | ||
Shares issued, net of offering costs (Note 6) | $ 12,323 | 12,323 | |
Shares issued, net of offering costs (Note 6) (in shares) | 12,272,730 | ||
Shares issued (RSUs vested, net of shares withheld) (Note 6) | $ (5) | (5) | |
Shares issued (RSUs vested, net of shares withheld) (Note 6) (in shares) | 6,665 | ||
Stock-based compensation (Note 6) | $ 143 | 143 | |
Net income (loss) | (3,069) | (3,069) | |
Balances, end of period at Sep. 30, 2021 | $ 474,021 | $ (451,571) | $ 22,450 |
Balances, end of period (in shares) at Sep. 30, 2021 | 117,189,232 |
UNAUDITED CONDENSED CONSOLIDA_5
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Cash flows from operating activities: | |||
Net income/(loss) | $ (6,921) | $ 2,622 | |
Adjustments to reconcile net income/(loss) to net cash used in operations: | |||
Depreciation and amortization | $ 11 | 36 | 34 |
Stock-based compensation | 727 | 757 | |
Gain on disposal of mineral property | (3,540) | (2,100) | (6,108) |
Gain on other investments | (2,437) | (41) | (2,407) |
Change in working capital account items: | |||
Other current assets | 300 | 292 | |
Accounts payable, accrued liabilities and other | 561 | 112 | |
Net cash used in operating activities | (7,438) | (4,698) | |
Cash flows from investing activities: | |||
Proceeds from sales of marketable securities | 5,788 | ||
Disposition/(acquisitions) of short-term investments, net | 400 | (789) | |
Additions to plant and equipment | (105) | ||
Proceeds from option/sale agreements, net | 2,415 | 3,048 | |
Net cash provided by investing activities | 2,710 | 8,047 | |
Cash flows from financing activities: | |||
Proceeds from equity financing, net | 13,385 | 1,436 | |
Payment of taxes from withheld shares | (401) | (124) | |
Proceeds from exercise of stock options | 37 | ||
Net cash provided by financing activities | 12,984 | 1,349 | |
Net increase in cash and cash equivalents | 8,256 | 4,698 | |
Cash and cash equivalents, beginning of period | 7,762 | 1,408 | |
Cash and cash equivalents, end of period | $ 6,106 | $ 16,018 | $ 6,106 |
Nature of Operations and Basis
Nature of Operations and Basis of Presentation | 9 Months Ended |
Sep. 30, 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 demonstrating the economic and technical feasibility of our projects. 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 September 30, 2021, including royalty interests in the United States and Indonesia, mill equipment not in use and listed for sale, and listed 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 the Company’s 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 and A$ are to Australian dollars. |
Significant Accounting Policies
Significant Accounting Policies | 9 Months Ended |
Sep. 30, 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 | 9 Months Ended |
Sep. 30, 2021 | |
Short-term and Other Investments | |
Short-term and Other Investments | 3. Short-term and Other Investments Short-term investments As of September 30, 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, 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 investment in 1,333,334 common shares of Nusantara Resources Limited (“Nusantara” and “Nusantara Shares”) was recorded at fair value in the Unaudited Condensed Consolidated Balance Sheet at September 30, 2021 and December 31, 2020. Vista also held common shares of Midas Gold Corp. (“Midas Gold Shares”) during a portion of 2020; all Midas Gold Shares were sold prior to 2021. The fair value of other investments was $334 and $293 at September 30, 2021 and December 31, 2020, respectively. Changes in fair value of the Nusantara Shares and Midas Gold Shares, representing unrealized gains (losses), were recorded in the Unaudited Condensed Consolidated Statements of Income/(Loss) in the period in which the changes occurred. No listed securities in other investments were sold during the three and nine months ended September 30, 2021. During the three months ended September 30, 2020, the Company sold its remaining 4,667,615 Midas Gold Shares for net proceeds of $4,835, at a gain of $2,454 based on the most recent measurement period of June 30, 2020. During the nine months ended September 30, 2020, the Company sold 6,882,115 Midas Gold Shares for net proceeds of $5,788, at a gain of $2,574 based on the most recent measurement periods of June 30, 2020, March 31, 2020 and December 31, 2019. On September 22, 2021, the shareholders of Nusantara approved a scheme of arrangement whereby PT Indika Mineral Investindo offered to acquire all issued shares of Nusantara for A$0.35 per share. The transaction closed on October 6, 2021, resulting in Vista receiving $339 upon tendering its Nusantara Shares. |
Mineral Properties
Mineral Properties | 9 Months Ended |
Sep. 30, 2021 | |
Mineral Properties | |
Mineral Properties | 4. Mineral Properties Mt Todd, Northern Territory, Australia The capitalized mineral property values are as follows: At September 30, 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 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 (“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 in June 2021. Having received these payments as scheduled, Vista has no remaining right to be granted the royalties and back-in right, and Vista recognized a gain on disposal of mineral property interests of $2,100 during the three months ended June 30, 2021. Awak Mas, Sulawesi, Indonesia Vista holds a net smelter return royalty (“NSR”) on the Awak Mas project. 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. The holder of Awak Mas is a subsidiary of Nusantara. 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. The Nusantara subsidiary or a nominated party also had the right to cancel the remaining 1% NSR and 1.25% NSR for an additional payment of $2,500 by April 30, 2021. Vista and the Nusantara subsidiary 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. Vista received $315 during the nine months ended September 30, 2021 for extension fees. The gain associated with these fees was deferred until the final royalty payment is received or the extension expires and will be recognized as income at that time. If the holder does not make the final $2,500 payment by not later than January 31, 2022, Vista will retain the remaining royalty interests. See Note 3 regarding the Company’s tender of its Nusantara Shares in connection with the sale of Nusantara. This transaction had no effect on the terms of the agreement between Vista and the Nusantara subsidiary. |
Plant And Equipment
Plant And Equipment | 9 Months Ended |
Sep. 30, 2021 | |
Plant and Equipment | |
Plant And Equipment | 5. Plant and Equipment September 30, 2021 December 31, 2020 Accumulated Accumulated Cost Depreciation Net Cost Depreciation Net Mt Todd, Australia $ 5,411 $ 5,199 $ 212 $ 5,306 $ 5,163 $ 143 Corporate, United States 333 333 — 333 333 — Used mill equipment, Canada 5,500 — 5,500 5,500 — 5,500 $ 11,244 $ 5,532 $ 5,712 $ 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. Management estimated the value of the mill equipment by considering an appraisal as of December 31, 2020 prepared by an independent valuation specialist, recent listings and sales of similar equipment, and general industry and economic conditions. |
Common Shares
Common Shares | 9 Months Ended |
Sep. 30, 2021 | |
Common Shares | |
Common Shares | 6. Common Shares Equity Financing On July 12, 2021, we closed a public offering of 12,272,730 units (the “Units”) for net proceeds of $12,323 (the “2021 Offering”). Each Unit consisted of one common share in the capital of the Company (each a “Common Share’) and one-half of one Vista is a party to 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 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 and nine months ended September 30, 2021 the Company sold nil and 798,270 Common Shares, respectively, under the ATM Program for net proceeds of $nil and $871, respectively. During the three and nine months ended September 30, 2020 the Company sold 509,315 and 1,541,134 Common Shares, respectively, under the ATM Program for net proceeds of $629 and $1,436, respectively. 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. In July 2021, the ATM Program was suspended in conjunction with the public offering of shares. Vista could use the ATM Program in the future following filing and effectiveness of a new shelf registration statement with the Securities and Exchange Commission. Warrants Warrant activity is summarized in the following table. Weighted Weighted average average Warrants exercise price remaining life outstanding per share (yrs.) As of December 31, 2020 — $ — — Issued 7,408,101 1.25 3.0 As of September 30, 2021 7,408,101 $ 1.25 2.8 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, 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. 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 particular 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 was: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 RSUs $ 143 $ 158 $ 512 $ 489 DSUs — — 212 209 Stock Options — 7 3 59 $ 143 $ 165 $ 727 $ 757 Phantom units $ (24) $ 45 $ 26 $ 79 As of September 30, 2021, unrecognized compensation expense for RSUs was $458 which is expected to be recognized over a weighted average period of 1.2 years. 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 (413,335) 0.48 Vested, net of shares withheld (946,328) 0.46 Unvested - September 30, 2021 1,998,339 $ 0.53 During the nine months ended September 30, 2021 and 2020, the Company withheld Common Shares with an equivalent value to meet employee withholding tax obligations of $401 and $124, respectively, that resulted upon vesting of RSUs during the period. 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 - September 30, 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 - September 30, 2021 1,367,000 $ 0.71 1.89 $ 45 Exercisable - September 30, 2021 1,367,000 $ 0.71 1.89 $ 45 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 Vested (33,333) 0.31 Unvested - September 30, 2021 — $ — — 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 1.0 Vested (72,000) Unvested - December 31, 2020 72,000 0.5 Vested (72,000) Unvested - September 30, 2021 — — |
Provision for Environmental Lia
Provision for Environmental Liability | 9 Months Ended |
Sep. 30, 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 | 9 Months Ended |
Sep. 30, 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 | 9 Months Ended |
Sep. 30, 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 September 30, 2021 Total Level 1 Level 3 Other investments $ 334 $ 334 $ — Fair Value at December 31, 2020 Total Level 1 Level 3 Other investments $ 293 $ 293 $ — At September 30, 2021 and December 31, 2020, our investment in Nusantara Shares was classified as Level 1 of the fair value hierarchy as they were valued at quoted market prices in an active, liquid, and visible market, which included the Nusantara shareholder-approved purchase price for the acquisition of Nusantara at September 30, 2021. See Note 3 regarding the Company’s tender of its Nusantara Shares in connection with the sale of Nusantara. 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 | 9 Months Ended |
Sep. 30, 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 and nine months ended September 30, 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) | 9 Months Ended |
Sep. 30, 2021 | |
Mineral Properties | |
Schedule of Mineral Properties | At September 30, 2021 At December 31, 2020 Mt Todd, Australia $ 2,146 $ 2,146 |
Plant and Equipment (Tables)
Plant and Equipment (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Plant and Equipment | |
Schedule Of Plant And Equipment | September 30, 2021 December 31, 2020 Accumulated Accumulated Cost Depreciation Net Cost Depreciation Net Mt Todd, Australia $ 5,411 $ 5,199 $ 212 $ 5,306 $ 5,163 $ 143 Corporate, United States 333 333 — 333 333 — Used mill equipment, Canada 5,500 — 5,500 5,500 — 5,500 $ 11,244 $ 5,532 $ 5,712 $ 11,139 $ 5,496 $ 5,643 |
Common Shares (Tables)
Common Shares (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Common Shares | |
Summary of outstanding warrants | Warrant activity is summarized in the following table. Weighted Weighted average average Warrants exercise price remaining life outstanding per share (yrs.) As of December 31, 2020 — $ — — Issued 7,408,101 1.25 3.0 As of September 30, 2021 7,408,101 $ 1.25 2.8 |
Summary of stock-based compensation expense | Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 RSUs $ 143 $ 158 $ 512 $ 489 DSUs — — 212 209 Stock Options — 7 3 59 $ 143 $ 165 $ 727 $ 757 Phantom units $ (24) $ 45 $ 26 $ 79 |
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 (413,335) 0.48 Vested, net of shares withheld (946,328) 0.46 Unvested - September 30, 2021 1,998,339 $ 0.53 |
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 - September 30, 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 - September 30, 2021 1,367,000 $ 0.71 1.89 $ 45 Exercisable - September 30, 2021 1,367,000 $ 0.71 1.89 $ 45 |
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 Vested (33,333) 0.31 Unvested - September 30, 2021 — $ — — |
Summary of phantom units | Weighted Average Remaining Number of Vesting Term Phantom Units (Years) Unvested - December 31, 2019 144,000 1.0 Vested (72,000) Unvested - December 31, 2020 72,000 0.5 Vested (72,000) Unvested - September 30, 2021 — — |
Fair Value Accounting (Tables)
Fair Value Accounting (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Fair Value Accounting | |
Schedule of assets measured at fair value | Fair Value at September 30, 2021 Total Level 1 Level 3 Other investments $ 334 $ 334 $ — 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) | 9 Months Ended |
Sep. 30, 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 | Sep. 30, 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) $ in Thousands | Oct. 06, 2021USD ($) | Sep. 30, 2020USD ($)shares | Sep. 30, 2020USD ($)shares | Sep. 30, 2021USD ($)shares | Sep. 22, 2021$ / shares | Dec. 31, 2020USD ($)shares |
Other Investments | ||||||
Proceeds from Sale and Maturity of Marketable Securities | $ 5,788 | |||||
Other investments, at fair value | $ 334 | $ 293 | ||||
Midas Gold Shares [Member] | ||||||
Other Investments | ||||||
Number Marketable Securities Sold | shares | 4,667,615 | 6,882,115 | ||||
Proceeds from Sale and Maturity of Marketable Securities | $ 4,835 | $ 5,788 | ||||
Marketable Securities, Realized Gain (Loss) | $ 2,454 | $ 2,574 | ||||
Nusantara Resources | ||||||
Other Investments | ||||||
Shares owned | shares | 1,333,334 | 1,333,334 | ||||
Nusantara Resources | ||||||
Other Investments | ||||||
Sale of Stock, Price Per Share | $ / shares | $ 0.35 | |||||
Subsequent Event [Member] | Nusantara Resources | ||||||
Other Investments | ||||||
Proceeds from Sale and Maturity of Marketable Securities | $ 339 |
Mineral Properties - Properties
Mineral Properties - Properties (Details) - USD ($) $ in Thousands | 1 Months Ended | ||
Mar. 31, 2006 | Sep. 30, 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 | 3 Months Ended | 6 Months Ended | 9 Months Ended | |||||
Jun. 30, 2021 | Jan. 31, 2021 | Jun. 30, 2021 | Sep. 30, 2020 | Jun. 30, 2021 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | Jun. 30, 2020 | |
Property, Plant and Equipment [Line Items] | |||||||||
Mineral properties, Net | $ 2,146 | $ 2,146 | |||||||
Deferred option gain | 383 | $ 68 | |||||||
Gain (Loss) On Disposal Of Mineral Property Interests, Net | $ 3,540 | $ 2,100 | $ 6,108 | ||||||
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 | $ 1,000 | $ 1,100 | |||||||
Gain (Loss) On Disposal Of Mineral Property Interests, Net | $ 2,100 | $ 2,100 |
Mineral Properties - Awak Mas (
Mineral Properties - Awak Mas (Details) $ in Thousands | May 05, 2020USD ($) | Nov. 01, 2019USD ($)oz | Apr. 30, 2021USD ($) | Sep. 30, 2020USD ($) | Sep. 30, 2021USD ($) | Sep. 30, 2020USD ($) | May 04, 2020USD ($) |
Property, Plant and Equipment [Line Items] | |||||||
Gain (Loss) On Disposal Of Mineral Property Interests, Net | $ 3,540 | $ 2,100 | $ 6,108 | ||||
PT Masmindo Dwi Area | Awak Mas | |||||||
Property, Plant and Equipment [Line Items] | |||||||
NSR Cancellation Proceeds | $ 2,400 | ||||||
Disposal Group, Deferred Gain on Disposal | $ 315 | $ 168 | |||||
Gain (Loss) On Disposal Of Mineral Property Interests, Net | 2,568 | ||||||
PT Masmindo Dwi Area | Awak Mas | 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 | ||||||
PT Masmindo Dwi Area | Awak Mas | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-31 | |||||||
Property, Plant and Equipment [Line Items] | |||||||
NSR Cancellation Proceeds | $ 2,500 | ||||||
PT Masmindo Dwi Area | Awak Mas | 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% | ||||||
PT Masmindo Dwi Area | Awak Mas | First 1,250,000 Ounces Produced | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-04-30 | |||||||
Property, Plant and Equipment [Line Items] | |||||||
NSR Cancellation Receivable | $ 2,400 | ||||||
PT Masmindo Dwi Area | Awak Mas | 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% |
Plant and Equipment (Details)
Plant and Equipment (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Property, Plant and Equipment [Line Items] | ||
Cost | $ 11,244 | $ 11,139 |
Accumulated depreciation | 5,532 | 5,496 |
Net | 5,712 | 5,643 |
Mt Todd, Australia | ||
Property, Plant and Equipment [Line Items] | ||
Cost | 5,411 | 5,306 |
Accumulated depreciation | 5,199 | 5,163 |
Net | 212 | 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 - Equity Financin
Common Shares - Equity Financing (Details) | Jul. 12, 2021USD ($)Y$ / sharesshares | Jun. 30, 2020USD ($) | Sep. 30, 2021shares | Sep. 30, 2020USD ($)shares | Sep. 30, 2021USD ($)securityshares | Sep. 30, 2020USD ($)shares |
Subsidiary, Sale of Stock [Line Items] | ||||||
Proceeds from Issuance of Common Stock | $ 13,385,000 | $ 1,436,000 | ||||
Warrants Not Settleable in Cash, Fair Value Disclosure | $ 2,074,000 | |||||
Measurement Input, Option Volatility [Member] | ||||||
Subsidiary, Sale of Stock [Line Items] | ||||||
Warrants and Rights Outstanding, Measurement Input | 70.6 | |||||
Measurement Input, Risk Free Interest Rate [Member] | ||||||
Subsidiary, Sale of Stock [Line Items] | ||||||
Warrants and Rights Outstanding, Measurement Input | 0.43 | |||||
Measurement Input, Expected Term [Member] | ||||||
Subsidiary, Sale of Stock [Line Items] | ||||||
Warrants and Rights Outstanding, Measurement Input | Y | 3 | |||||
Measurement Input, Share Price [Member] | ||||||
Subsidiary, Sale of Stock [Line Items] | ||||||
Warrants and Rights Outstanding, Measurement Input | 0.89 | |||||
Capital Units [Member] | ||||||
Subsidiary, Sale of Stock [Line Items] | ||||||
Stock Issued During Period, Shares, New Issues | shares | 12,272,730 | |||||
Proceeds from Issuance of Common Stock | $ 12,323,000 | |||||
Number Of Shares Converted By Each Unit | shares | 1 | |||||
Number Of Shares Converted By Each Warrant | shares | 0.5 | |||||
Warrants Issued | shares | 7,408,101 | |||||
Class of Warrant or Right, Exercisable Term | 36 months | |||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right | shares | 1 | |||||
Exercise Price Of Warrants Or Rights | $ / shares | $ 1.25 | |||||
Common Stock, Fair Value Disclosure | $ 11,426,000 | |||||
Underwriter [Member] | Capital Units [Member] | ||||||
Subsidiary, Sale of Stock [Line Items] | ||||||
Warrants Issued | shares | 351,282 | |||||
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 | 0 | 509,315 | 798,270 | 1,541,134 | ||
Proceeds from Issuance of Common Stock | $ 629,000 | $ 871,000 | $ 1,436,000 | |||
Offers or sales of common shares under Agreement to be made in Canada | security | 0 | |||||
Over-Allotment Option | Underwriter [Member] | Capital Units [Member] | ||||||
Subsidiary, Sale of Stock [Line Items] | ||||||
Warrants Issued | shares | 920,454 |
Common Shares - Warrants (Detai
Common Shares - Warrants (Details) - Warrants [Member] - $ / shares | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
Class of Warrant or Right [Line Items] | ||
Warrants outstanding (in shares) | 7,408,101 | 0 |
Warrants issued | 7,408,101 | |
Weighted average exercise price of warrants outstanding (in dollars per share) | $ 1.25 | $ 0 |
Weighted average exercise price of warrants issued (in dollars per share) | $ 1.25 | |
Weighted average remaining life, warrants issued | 3 years | |
Weighted average remaining life, warrants outstanding | 2 years 9 months 18 days | 0 years |
Common Shares - Stock-Based Com
Common Shares - Stock-Based Compensation (Details) - USD ($) $ in Thousands | 1 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Feb. 28, 2021 | Mar. 31, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 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 | $ 143 | $ 165 | $ 727 | $ 757 | |||
Stock Options [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Stock-based compensation expense | 7 | 3 | 59 | ||||
Restricted Stock Units (RSUs) [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Stock-based compensation expense | 143 | 158 | 512 | 489 | |||
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 | $ (24) | $ 45 | $ 26 | $ 79 |
Common Shares - Unrecognized Co
Common Shares - Unrecognized Compensation (Details) - Restricted Stock Units (RSUs) [Member] $ in Thousands | 9 Months Ended |
Sep. 30, 2021USD ($) | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Unrecognized compensation expense related to unvested awards | $ 458 |
Weighted average unrecognized compensation recognition period | 1 year 2 months 12 days |
Common Shares - Summary Of Rest
Common Shares - Summary Of Restricted Stock Units Activity (Details) - USD ($) $ / shares in Units, $ in Thousands | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Payments Related to Tax Withholding for Share-based Compensation | $ 401 | $ 124 | |
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) | (413,335) | (237,853) | |
Vested, net of shares withheld, Number of units (in shares) | (946,328) | (395,446) | |
Unvested, Number of units, end of period (in shares) | 1,998,339 | 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) | 0.48 | 0.60 | |
Vested, Weighted average fair value (in dollars per share) | 0.46 | 0.63 | |
Unvested, weighted average fair value, end of period (in dollars per share) | $ 0.53 | $ 0.42 | |
Payments Related to Tax Withholding for Share-based Compensation | $ 401 | $ 124 |
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 | 9 Months Ended | 12 Months Ended | |||
Feb. 28, 2021USD ($)shares | Mar. 31, 2020USD ($)shares | Sep. 30, 2021USD ($)$ / sharesshares | Sep. 30, 2020USD ($) | Sep. 30, 2021USD ($)$ / sharesshares | Sep. 30, 2020USD ($)$ / sharesshares | Dec. 31, 2020$ / sharesshares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Allocated Share-based Compensation Expense | $ | $ 143 | $ 165 | $ 727 | $ 757 | |||
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 | 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 | $ 0.68 | $ 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 | 9 Months Ended | 12 Months Ended | |
Sep. 30, 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) | 1,367,000 | ||
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 | 1 year 10 months 20 days | 2 years 7 months 17 days | 3 years 5 months 26 days |
Weighted average remaining contractual term, Exercisable | 1 year 10 months 20 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) | 45 | $ 507 | $ 35 |
Aggregate intrinsic value, Options, Exercisable | $ 45 |
Common Shares - Summary Of The
Common Shares - Summary Of The Status Of Unvested Stock Options (Details) - $ / shares | 9 Months Ended | 12 Months Ended | |
Sep. 30, 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) | (33,333) | (530,671) | |
Unvested, Number of options, end of period (in shares) | 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) | $ 0.31 | 0.38 | |
Unvested, Weighted average grant date fair value per option, end of period (in dollars per share) | $ 0.31 | $ 0.40 | |
Weighted average remaining amortization period | 0 years | 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 | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Liabilities, Current | $ 1,973 | $ 1,973 | $ 1,126 | |||
Stock-based compensation expense | $ 143 | $ 165 | $ 727 | $ 757 | ||
Earnings Per Share, Basic | $ (0.02) | $ 0.05 | $ (0.06) | $ 0.03 | ||
Phantom Share Units (PSUs) | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Stock-based compensation expense | $ (24) | $ 45 | $ 26 | $ 79 | ||
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) | (72,000) | ||||
Unvested, Number of units, end of period (in shares) | 0 | 0 | 72,000 | 144,000 | ||
Weighted average remaining contractual term | 0 years | 6 months | 1 year |
Provision for Environmental L_2
Provision for Environmental Liability (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Provision for Environmental Liability | ||
Provision for environmental liability | $ 240 | $ 240 |
Commitments And Contingencies (
Commitments And Contingencies (Details) - Mt Todd, Australia | 1 Months Ended | 9 Months Ended |
Nov. 30, 2020 | Sep. 30, 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 | Sep. 30, 2021 | Dec. 31, 2020 |
Fair Value Accounting | ||
Other investments, at fair value | $ 334 | $ 293 |
Fair Value Transfers Between Levels | 0 | |
Recurring | ||
Fair Value Accounting | ||
Other investments, at fair value | 334 | 293 |
Recurring | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value Accounting | ||
Other investments, at fair value | 334 | 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 | 9 Months Ended | ||
Sep. 30, 2021USD ($) | Sep. 30, 2020USD ($) | Sep. 30, 2021USD ($)segment | Sep. 30, 2020USD ($) | |
Geographic and Segment information | ||||
Number of reportable segments | segment | 1 | |||
Revenues | $ | $ 0 | $ 0 | $ 0 | $ 0 |