Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2021 | Feb. 14, 2022 | Jun. 30, 2021 | |
Cover [Abstract] | |||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Transition Report | false | ||
Document Period End Date | Dec. 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, no par value | ||
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 | ||
ICFR Auditor Attestation Flag | false | ||
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 | FY | ||
Entity Central Index Key | 0000783324 | ||
Amendment Flag | false | ||
Entity Public Float | $ 85,760,855 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Auditor Name | Plante & Moran, PLLC | ||
Auditor Firm ID | 166 | ||
Auditor Location | Denver, Colorado |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Current assets: | ||
Cash and cash equivalents | $ 12,757 | $ 7,762 |
Short-term investments (Note 3) | 384 | 400 |
Other investments, at fair value (Note 3) | 0 | 293 |
Other current assets | 811 | 952 |
Total current assets | 13,952 | 9,407 |
Non-current assets: | ||
Mineral properties (Note 4) | 2,146 | 2,146 |
Plant and equipment, net (Note 5) | 233 | 5,643 |
Right-of-use assets | 12 | 34 |
Total non-current assets | 2,391 | 7,823 |
Total assets | 16,343 | 17,230 |
Current liabilities: | ||
Accounts payable | 566 | 356 |
Accrued liabilities and other | 839 | 702 |
Deferred option gain (Note 4) | 383 | 68 |
Total current liabilities | 1,788 | 1,126 |
Non-current liabilities: | ||
Provision for environmental liability (Note 12) | 240 | 240 |
Other liabilities | 21 | 13 |
Total non-current liabilities | 261 | 253 |
Total liabilities | 2,049 | 1,379 |
Commitments and contingencies (Note 7) | ||
Shareholders' equity: | ||
Common shares, no par value - unlimited shares authorized; shares outstanding: 2021 - 117,189,232 and 2020 - 103,171,904 (Note 6) | 474,181 | 460,501 |
Accumulated deficit | (459,887) | (444,650) |
Total shareholders' equity | 14,294 | 15,851 |
Total liabilities and shareholders' equity | $ 16,343 | $ 17,230 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares | 12 Months Ended | |
Dec. 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 | 117,189,232 | 103,171,904 |
CONSOLIDATED STATEMENTS OF INCO
CONSOLIDATED STATEMENTS OF INCOME (LOSS) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Operating income/(expense): | ||
Gain on disposal of mineral property interests, net (Note 4) | $ 2,100 | $ 6,108 |
Exploration, property evaluation and holding costs | (7,942) | (4,545) |
Corporate administration | (3,945) | (3,777) |
Depreciation and amortization | (49) | (48) |
Write-down of plant and equipment (Note 5) | (5,500) | |
Total operating expense | (15,336) | (2,262) |
Non-operating income: | ||
Gain on other investments (Note 3) | 46 | 2,405 |
Interest income | 3 | 16 |
Other income | 50 | 261 |
Total non-operating income | 99 | 2,682 |
Income/(loss) before income taxes | (15,237) | 420 |
Net income/(loss) | $ (15,237) | $ 420 |
Basic: | ||
Weighted average number of shares outstanding (in shares) | 110,263,237 | 101,814,139 |
Net income/(loss) per share | $ (0.14) | $ 0 |
Diluted: | ||
Weighted average number of shares outstanding (in shares) | 110,263,237 | 104,478,920 |
Net income/(loss) per share | $ (0.14) | $ 0 |
CONSOLIDATED STATEMENTS OF SHAR
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) | $ 1,959 | 1,959 | |
Shares issued, net of offering costs (Note 6) (in shares) | 2,028,334 | ||
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 | 50,000 | |
Stock-based compensation (Note 6) | $ 913 | $ 913 | |
Net income (loss) | 420 | 420 | |
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 | ||
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) | $ 887 | 887 | |
Net income (loss) | (15,237) | (15,237) | |
Balances, end of period at Dec. 31, 2021 | $ 474,181 | $ (459,887) | $ 14,294 |
Balances, end of period (in shares) at Dec. 31, 2021 | 117,189,232 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Cash flows from operating activities: | ||
Net income/(loss) | $ (15,237) | $ 420 |
Adjustments to reconcile net income/(loss) to net cash used in operations: | ||
Depreciation and amortization | 49 | 48 |
Stock-based compensation | 887 | 913 |
Gain on disposal of mineral property interests, net | (2,100) | (6,108) |
Write-down of plant and equipment | 5,500 | |
Gain on other investments | (46) | (2,405) |
Change in working capital account items: | ||
Other current assets | (50) | (279) |
Accounts payable, accrued liabilities and other | 377 | 456 |
Net cash used in operating activities | (10,620) | (6,955) |
Cash flows from investing activities: | ||
Proceeds from sales of marketable securities | 339 | 5,788 |
Disposition of short-term investments, net | 16 | 2,860 |
Additions to plant and equipment | (139) | (68) |
Proceeds from option/sale agreements, net | 2,415 | 3,048 |
Net cash provided by investing activities | 2,631 | 11,628 |
Cash flows from financing activities: | ||
Proceeds from equity financing, net | 13,385 | 1,768 |
Payment of taxes from withheld shares | (401) | (124) |
Proceeds from exercise of stock options | 37 | |
Net cash provided by financing activities | 12,984 | 1,681 |
Net increase in cash and cash equivalents | 4,995 | 6,354 |
Cash and cash equivalents, beginning of period | 7,762 | 1,408 |
Cash and cash equivalents, end of period | $ 12,757 | $ 7,762 |
Nature of Operations
Nature of Operations | 12 Months Ended |
Dec. 31, 2021 | |
Nature of Operations | |
Nature Of Operations | 1. Nature of Operations Vista Gold Corp. and its subsidiaries (collectively, “Vista,” the “Company,” “we,” “our,” or “us”) operate in the gold mining industry. We are focused 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. Mt Todd is the largest undeveloped gold project in Australia. With the approval of the Mining Management Plan in June 2021, all major operating and environmental permits for Mt Todd have been received. Since acquiring Mt Todd in 2006, we have invested substantial financial resources to systematically explore, evaluate, engineer, permit and de-risk the Project. In February 2022, we completed a feasibility study for Mt Todd and are evaluating a potential partners, investors and lenders as we pursue a range of development alternatives. |
Significant Accounting Policies
Significant Accounting Policies and Estimates | 12 Months Ended |
Dec. 31, 2021 | |
Significant Accounting Policies and Estimates | |
Significant Accounting Policies and Estimates | 2. Significant Accounting Policies and Estimates Principles of Consolidation The Consolidated Financial Statements include the accounts of Vista and its subsidiaries, all of which are more-than-50% owned subsidiaries and under Vista’s control. All significant intercompany balances and transactions have been eliminated. The Consolidated Financial Statements have been prepared in accordance with U.S. GAAP. Use of Estimates Preparation of the Company’s Consolidated Financial Statements requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, income and expenses during the reporting period. The more significant areas requiring the use of management estimates and assumptions are: asset impairments, the fair value and accounting treatment of financial instruments including warrants; useful lives of assets for asset depreciation purposes; valuation allowances for deferred tax assets; the fair value and accounting treatment of stock-based compensation; and the provision for environmental liabilities. Management based its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. Accordingly, actual results will likely differ from amounts estimated in these financial statements. Cash and Cash Equivalents Cash and cash equivalents include cash on hand and government securities with original maturities of 90 days or less when purchased. Because of the short maturity of these investments, carrying amounts approximate their fair values. Foreign Currency Transactions Our functional currency is the U.S. dollar. Foreign currency transactions denominated in currency other than the functional currency are recorded at the approximate rate of exchange at the transaction date and any gains/(losses) resulting therefrom are recorded in other expense. For each of the years ended December 31, 2021 and 2020, net foreign currency gains/(losses) were insignificant. Short-term Investments Short-term investments consist of securities with original maturity dates greater than 90 days and less than one year. These securities are typically United States or Australian government treasury bills and/or notes. Short-term investments are recorded at amortized cost and are classified as debt securities held-to-maturity as the Company has the intention and ability to hold these instruments until their original maturity date at the time of purchase. Mineral Properties Mineral property acquisition costs, including directly related costs, are capitalized when incurred, and mineral property exploration costs are expensed as incurred. Capitalized costs will be depleted using the units-of-production method over the estimated life of the proven and probable reserves. If mineral properties are subsequently sold or abandoned, any un-depleted costs will be charged to expense in that period. The recoverability of the carrying values of our mineral properties is dependent upon economic reserves being discovered or developed on the properties, permitting, financing, start-up, and commercial production from, or the sale/lease of, or other strategic transactions related to these properties. Development and/or start-up of any of these projects will depend on, among other things, management’s ability to raise sufficient capital for these purposes. Proceeds received from option or sale agreements are ascribed to recovery of the carrying value of the related project until the carrying value reaches zero. Thereafter, any additional proceeds received are recognized as a contract liability (deferred option gain) until control has transferred to the buyer or the related contract terminates. We assess the carrying value of mineral properties for impairment whenever information or circumstances indicate the potential for impairment. This would include events and circumstances such as our inability to obtain all the necessary permits, changes in the legal status of our mineral properties, government actions, the results of exploration activities and technical evaluations and changes in economic conditions, including the price of gold and other commodities or input prices. Such evaluations compare estimated future net cash flows with our carrying costs and future obligations on an undiscounted basis. If it is determined that the estimated future undiscounted cash flows are less than the carrying value of the property, a write-down to the estimated fair value will then be reported in our Consolidated Statement of Income/(Loss) for the period. Where estimates of future net cash flows are not determinable and where other conditions indicate the potential for impairment, management uses available market information and/or third-party valuation experts to assess if the carrying value can be recovered and to estimate fair value. Impairment Carrying values of long-lived assets, other than mineral properties, are evaluated for impairment at such time that information becomes available indicating that the carrying value may not be recoverable. If it is determined that the fair value is less than the carrying value an impairment charge equal to the difference between the fair value and the carrying value will be recorded in our Consolidated Statements of Income/(Loss). Stock-Based Compensation Under our stock option, long-term incentive, and deferred share unit plans, the Company can grant stock incentive options, restricted share units, and deferred share units to executives, employees, consultants and non-employee directors as applicable. Compensation expense for such grants is recorded in the Consolidated Statements of Income/(Loss) as a component of exploration, property evaluation and holding costs and corporate administration, with a corresponding increase to Common Shares in the Consolidated Balance Sheets. The fair value of option grants is calculated using the Black-Scholes option pricing model. The fair value of restricted and deferred share units is based on the closing price of our Common Shares on the grant date, and in certain cases, adjusted by a Brownian motion price model. The expense is based on the fair value of the grant on the grant date and is recognized over the vesting period specified for each grant. Forfeitures of unvested awards for all stock-based compensation result in expense reversal upon forfeiture. Financial Instruments Accounting Standards Codification Topic 820, Fair Value Measurements and Disclosures (“ASC 820”) of the Financial Accounting Standards Board (“FASB”) requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 establishes a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used to measure fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. ASC 820 prioritizes the inputs into three levels that may be used to measure fair value: ● Level 1 – Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. ● Level 2 – Observable inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data by correlation or other means. ● Level 3 – Prices or valuation techniques requiring inputs that are both significant to the fair value measurement and unobservable. Our financial instruments include cash and cash equivalents, marketable securities, short-term investments, accounts payable and certain other current assets and liabilities. Due to the short-term nature of our cash and cash equivalents, short-term investments, accounts payable and certain other current assets and liabilities, we believe that their carrying amounts approximate fair value. Our other investments are accounted for at fair value based on quoted market prices in an active market and are included in Level 1 of the fair value hierarchy. Recent Accounting Pronouncements Government Assistance In November 2021, the FASB issued ASU No. 2021-10 Government Assistance (Topic 832) Disclosures by Business Entities About Government Assistance |
Other Investments
Other Investments | 12 Months Ended |
Dec. 31, 2021 | |
Other Investments | |
Other Investments | 3. Other Investments Short-term investments As of December 31, 2021 and 2020, the amortized cost basis of our short-term investments was $384 and $400, respectively. The amortized cost basis approximates fair value at December 31, 2021 and 2020. Short-term investments at December 31, 2021 and 2020 are comprised of Australian or U.S. Government instruments, all of which have maturity dates greater than 90 days but less than one year. Other investments The Company held 1,333,334 shares of Nusantara Resources Limited (“Nusantara Resources”) as of December 31, 2020. On September 22, 2021, the shareholders of Nusantara Resources approved a scheme of arrangement whereby PT Indika Mineral Investindo (“Indika”) offered to acquire all issued shares of Nusantara Resources for A$0.35 per share. The transaction closed on October 6, 2021, resulting in Vista receiving $339 upon tendering its Nusantara Resources shares. Investments in marketable securities are recorded at fair value in the Consolidated Balance Sheets. Subsequent changes in fair value are recorded in the Consolidated Statements of Income/(Loss) in the period in which they occur. During the year ended December 31, 2020, the Company sold its common shares of Midas Gold Corp. (“Midas Gold Shares”) for net proceeds of $5,788 at a gain of $2,574 The following table summarizes our investments in marketable securities as of December 31, 2021 and 2020. December 31, 2021 December 31, 2020 Fair value at beginning of period $ 293 $ 3,676 Midas Gold Shares sold — (5,788) Nusantara Resources shares sold (339) — Realized gain 46 2,405 Fair value at end of period $ — $ 293 |
Mineral Properties
Mineral Properties | 12 Months Ended |
Dec. 31, 2021 | |
Mineral Properties | |
Mineral Properties | 4. Mineral Properties Mt Todd, Northern Territory, Australia Capitalized mineral property values were: At December 31, 2020 At December 31, 2019 Mt Todd, Australia $ 2,146 $ 2,146 Guadalupe de los Reyes, Sinaloa, Mexico In July 2020, the Company received the final $1,500 payment from Prime Mining Corporation (“Prime Mining”) for sale of the Guadalupe de los Reyes gold and silver project in Sinaloa, Mexico (“Los Reyes”). Upon receipt of final payment and transfer of the Los Reyes project to Prime Mining during the three months ended September 30, 2020, Vista recognized an operating gain of $3,540, inclusive of previously deferred option gain of $2,892 and net of associated closing costs. As part of 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 year ended December 31, 2021. Awak Mas, Sulawesi, Indonesia Vista held a net smelter return royalty (“NSR”) on the Awak Mas project in Indonesia. During 2019, Vista and the holder of Awak Mas, Nusantara Resources, 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. The Nusantara Resources 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 Resources 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 year ended December 31, 2021 for extension fees. In October 2021, Nusantara Resources was acquired by Indika, which became the holder of Awak Mas. Indika made the final $2,500 payment on January 28, 2022. In 2022, the Company will recognize a gain for this amount plus $383 that is carried as deferred option gain as of December 31, 2021. |
Plant and Equipment
Plant and Equipment | 12 Months Ended |
Dec. 31, 2021 | |
Plant and Equipment | |
Plant and Equipment | 5. Plant and Equipment December 31, 2021 December 31, 2020 Accumulated Accumulated Cost Depreciation Net Cost Depreciation Net Mt Todd, Australia $ 5,359 $ 5,126 $ 233 $ 5,306 $ 5,163 $ 143 Corporate, United States 333 333 — 333 333 — Used mill equipment, Canada — — — 5,500 — 5,500 $ 5,692 $ 5,459 $ 233 $ 11,139 $ 5,496 $ 5,643 During the year ended December 31, 2021, the Company reduced the carrying value of the used mill equipment to $nil to reflect management’s estimate of recoverability. The Company recorded this reduction as an operating loss of $5,500 in our Consolidated Statements of Income/(Loss). The inputs used in the valuing the used mill equipment included the duration this equipment has been actively marketed by an independent broker and the current competitive market conditions for used equipment yielding no sales. These inputs used in valuing the used mill equipment involved a high degree of subjectivity and resulted in management not having the ability to estimate recoverable sales proceeds with sufficient certainty. The used mill equipment continues to be marketed by the independent broker. |
Common Shares
Common Shares | 12 Months Ended |
Dec. 31, 2021 | |
Common Shares | |
Common Shares | 6. Common Shares Equity Financing During July 2021, we closed a public offering of 12,272,730 units (the “Units”) for net proceeds of $12,323 (the “2021 Offering”). The stock issuance costs associated with the 2021 Offering were $1,177 . Each Unit consisted of one common share of the Company (each a “Common Share”) and one-half of one Common Share purchase warrant (each full warrant, a “Warrant”). A total of 7,408,101 Warrants were issued, including 920,454 Warrants purchased by the underwriters pursuant to an overallotment option and 351,282 broker Warrants issued to the underwriters as compensation. Each Warrant entitles the holder thereof to purchase one Common Share at a price of $1.25 per Common Share (subject to adjustment in certain circumstances) and is exercisable for a period of 36 months from the closing of the 2021 Offering. The Warrants, which are classified as equity, had an aggregate relative fair value of $1,991 upon the issuance thereof on the closing date. The relative fair value of Warrants was estimated at the grant date using the Black-Scholes option pricing model using the following assumptions: 1) expected volatility of 70.6% , 2) risk-free rate of 0.43% , 3) contractual term of 3 years, and 4) stock price on the closing date of $0.89 per Common Share. A relative fair value of $11,509 was allocated to the Common Shares. Vista was party to an at-the-market offering agreement (the “ATM Agreement”) with H. C. Wainwright & Co., LLC (“Wainwright”), under which the Company had the right, but was not obligated, to issue and sell Common Shares through Wainwright for aggregate sales proceeds of up to $10,000 (the “ATM Program”). No securities could 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 year ended December 31, 2020 the Company sold 2,028,334 Common Shares for net proceeds of $1,959 under the ATM Program, Vista subsequently filed for and received notice of effectiveness of a new shelf registration statement in November 2021 with the Securities and Exchange Commission. In December 2021, the Company renewed the ATM Agreement on substantially the same terms, to provide for aggregate sales proceeds up to $10,000 Other Share Issuances During the years ended December 31, 2021 and 2020 we issued 946,328 and 445,446 Common Shares, respectively, in connection with vesting of restricted share units (“RSUs”) and/or stock option exercises. Warrants Warrant activity is summarized in the following table. Intrinsic value is the aggregate value of warrants that were in the money at the end of the period. The warrants are subject to standard anti-dilution provisions. 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 December 31, 2021 7,408,101 $ 1.25 2.5 Stock-Based Compensation The Company’s stock-based compensation plans include: RSUs currently outstanding under 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 for the years ended December 31, 2021 and 2020 was: Year Ended December 31, 2021 2020 RSUs $ 672 $ 643 DSUs 212 209 Stock Options 3 61 $ 887 $ 913 Phantom units $ 26 $ 98 As of December 31, 2021, unrecognized compensation expense for RSUs was $312 , 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 - December 31, 2021 1,998,339 $ 0.53 During the years ended December 31, 2021 and 2020, the Company withheld shares equivalent to the value of employee withholding tax obligations which resulted from RSUs vesting in the period. Shares withheld are considered cancelled/forfeited. Under the LTIP, a portion of the RSU awards vest on a fixed future date providing the recipient continues to be affiliated with Vista on that date. Other RSU awards vest subject to achievement of certain performance and market criteria, including the accomplishment of certain corporate objectives and the Company’s share price performance. Of the unvested RSUs, approximately 35% will vest based on fixed future dates, and approximately 11% and 54% will vest on performance and share-price criteria, respectively. The minimum vesting period for RSUs is one year . 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 of DSU expense. In March 2020, the Board granted 360,000 DSUs and the Company recognized $209 of 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 - December 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 - December 31, 2021 1,367,000 $ 0.71 1.64 $ 38 Exercisable - December 31, 2021 1,367,000 $ 0.71 1.64 $ 38 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 - December 31, 2021 — $ — — The fair value of stock options granted during the year ended December 31, 2020 to employees, directors and consultants was estimated at the grant date using the Black-Scholes option pricing model using the following weighted-average assumptions: 2020 Expected volatility 64.1 % Risk-free interest rate 0.3 % Expected life (years) 2.6 Dividend yield 0 % Forfeiture assumption 0 % Option pricing models require the input of highly subjective assumptions, including the expected price volatility. Expected price volatility is based on the historical volatility of our Common Shares. Changes in the subjective input assumptions can materially affect the fair value estimate. The expected term of the options granted represents the period of time that the options granted are expected to be outstanding using the simplified approach. The risk-free rate for the periods within the contractual term of the option is based on the U.S. Treasury yield curve in effect at the date of grant. Phantom Units The value of each phantom unit is equal to the Company’s share price on the vesting date and is payable in cash. Phantom units vest on fixed future dates provided the recipient continues to be affiliated with Vista on those dates. The Company accounts for these units as awards classified as liabilities with $39 included in current liabilities as of December 31, 2020. The Company recognized $26 and $98 of compensation expense for these units in the years ended December 31, 2021 and 2020, respectively. The Company paid $65 for phantom units which vested during the year ended December 31, 2021. The Company paid $86 for phantom units which vested during the year ended December 31, 2020. A summary of unvested phantom units is set forth in the following table: 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 - December 31, 2021 — — Weighted Average Common Shares At December 31, 2021 2020 Basic Common Shares 110,263,237 101,814,139 Effect of dilutive stock-based awards — 2,664,781 Diluted Common Shares 110,263,237 104,478,920 Unvested RSUs representing 1,998,339 Common Shares, stock options to purchase 1,367,000 Common Shares, warrants to purchase 7,408,101 Common Shares, and vested DSUs representing 930,000 unissued Common Shares were outstanding at December 31, 2021 but were not included in the computation of diluted weighted average Common Shares outstanding because their effect would have been anti-dilutive. Stock options to purchase 50,000 Common Shares were outstanding at December 31, 2020 but were not included in the computation of diluted weighted average Common Shares outstanding because their effect would have been anti-dilutive. The effect of dilutive stock-based awards was calculated using the treasury stock method, based on the remaining RSUs, DSUs, and stock options outstanding as of December 31, 2020. |
Commitments And Contingencies
Commitments And Contingencies | 12 Months Ended |
Dec. 31, 2021 | |
Commitments And Contingencies | |
Commitments And Contingencies | 7. Commitments and Contingencies Our exploration and development activities are subject to various laws and regulations governing the protection of the environment. These laws and regulations are continually changing and are generally becoming more restrictive. As such, future expenditures that may be required for compliance with these laws and regulations cannot be predicted. We conduct our operations in a manner to minimize effects on the environment and believe our operations are in compliance with applicable laws and regulations in all material respects. The Mt Todd site was not reclaimed by the predecessor owners when the mine closed in 2000. Liability for the reclamation of the environmental conditions at Mt Todd existing prior to the 2006 commencement of Vista’s involvement with the Project is presently the responsibility of the NT Government. After we provide notice to the NT Government that we intend to proceed with development the Company will then assume these historical rehabilitation liabilities currently estimated by the NT Government at approximately A$73 million. In November 2020, we modified our agreement with the Jawoyn Association Aboriginal Corporation (the “Jawoyn”) with respect to the Project. The modified agreement provides the Jawoyn 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 Mt Todd. The modified agreement did not affect the previously agreed 1.0% GPR. The combined GPR range is now from 1.125% to 3.0%. |
Fair Value Accounting
Fair Value Accounting | 12 Months Ended |
Dec. 31, 2021 | |
Fair Value Accounting | |
Fair Value Accounting | 8. Fair Value Accounting The following table sets forth the Company’s assets measured at fair value by level within the fair value hierarchy. As required by accounting guidance, assets are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Fair Value at December 31, 2021 Total Level 1 Level 3 Other investments $ — $ — $ — Used mill equipment (non-recurring) $ — $ — $ — Fair Value at December 31, 2020 Total Level 1 Level 3 Other investments $ 293 $ 293 $ — Our marketable securities and investment Nusantara Resources shares were classified as Level 1 of the fair value hierarchy as they are valued at quoted market prices in an active market. Marketable securities are included in Other Investments on the Consolidated Balance Sheets for each period presented. The used mill equipment was classified as Level 3 of the fair value hierarchy. The management estimate of fair value at December 31, 2021 was $nil using a market approach. See Note 5 regarding inputs used for the Level 3 valuation of the used mill equipment. There were no material transfers between levels nor were there any changes in valuation methods in 2021. |
Supplemental Cash Flow Informat
Supplemental Cash Flow Information and Material Non-Cash Transactions | 12 Months Ended |
Dec. 31, 2021 | |
Supplemental Cash Flow Information and Material Non-Cash Transactions | |
Supplemental Cash Flow Information and Material Non-Cash Transactions | 9. Supplemental Cash Flow Information and Material Non-Cash Transactions As of December 31, 2021 and 2020, all of our cash was held in liquid bank deposits and/or government instruments in the United States or Australia. There were no significant non-cash transactions for the years ended December 31, 2021 and 2020. |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2021 | |
Income Taxes | |
Income Taxes | 10. Income Taxes The Company’s U.S. and foreign source income/(loss) were: Years Ended December 31, 2021 2020 U.S. $ (136) $ 1,879 Canada (7,155) (308) Other foreign, net (7,946) (1,151) $ (15,237) $ 420 During the years ended December 31, 2021 and 2020, the Company recognized $nil current and deferred income tax expense or benefit in each of the U.S., Canada, and other foreign jurisdictions, due to full valuation allowances within each jurisdiction. Rate Reconciliation Reconciliations between the Company’s combined income taxes at statutory rates and the U.S. effective income tax (benefit)/expense were: Years Ended December 31, 2021 2020 Income taxed at statutory rates $ (3,743) $ 36 Increase (decrease) in taxes from: State Tax (21) 66 Stock-based compensation 33 50 Imputed interest 1 9 Other adjustments — (1) Mining concessions disposition — 853 Inflation adjustment (2) (254) Prior year provision to actual adjustments (493) 885 Change in U.S. tax rate — 29 Change in foreign tax rate — 100 Differentials in foreign tax rates (186) (52) Changes in foreign exchange rates 911 (1,236) Changes in valuation allowances affecting income tax expense or benefit 3,500 (485) Income tax (benefit)/expense $ — $ — Income tax benefit of $326 relating to deductible share offering costs were recorded directly in equity, offset by a corresponding valuation allowance. Deferred Taxes Deferred income taxes reflect the net effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Components of the Company’s deferred tax assets and liabilities were: December 31, 2021 2020 Deferred income tax assets Excess tax basis over book basis of property, plant and equipment $ 7,225 $ 7,776 Marketable securities 103 — Operating loss carryforwards 40,620 36,965 Capital loss carryforwards 14,065 13,778 Capital expenditures 374 374 Stock compensation 179 164 VAT recoverable 145 150 Unrealized foreign exchange gain/loss 116 117 Environmental liability 65 65 Offering costs 305 46 Accrued vacation 26 22 Other 4 5 Total future tax assets 63,227 59,462 Valuation allowance for future tax assets (63,227) (59,401) — 61 Deferred income tax liabilities Other investments — 61 — 61 Total Deferred Taxes $ — $ — Valuation Allowance on Canadian and Foreign Tax Assets We establish a valuation allowance against income tax assets if, based on available information, it is more likely than not that all of the assets will not be realized. The valuation allowances of $63,227 and $59,401 at December 31, 2021 and 2020, respectively, related mainly to operating loss carryforwards where utilization is not more likely than not. The Company periodically assesses both positive and negative evidence to determine whether it is more likely than not that deferred tax assets can be realized prior to expiration. Loss Carryforwards The Company’s tax loss carryforwards expire as follows: Noncapital Canada U.S. Mexico Barbados Total 2021 — — — 4 4 2022 — — 1,602 6 1,608 2023 — — 373 6 379 2024 — — — 6 6 2025 — — 80 6 86 2026 1,027 — 822 5 1,854 2027 847 — — 7 854 2028 5,245 — — 7 5,252 2029 4,022 — — — 4,022 2030 5,032 1,748 — — 6,780 2031 3,806 3,407 72 — 7,285 2032 6,397 2,323 — — 8,720 2033 6,185 3,098 — — 9,283 2034 4,420 — — — 4,420 2035 3,729 2 — — 3,731 2036 2,799 2,655 — — 5,454 2037 1,916 2,482 — — 4,398 2038 2,666 — — — 2,666 2039 3,338 — — — 3,338 2040 2,829 — — — 2,829 2041 5,370 — — — 5,370 $ 59,628 $ 15,715 $ 2,949 $ 47 $ 78,339 U.S. loss carryforwards for tax years beginning in 2018 through 2021 of $2,686, Canadian capital loss carryforwards of $104,184 and Australian NOLs of $63,795, which do not expire, are not included in the previous table. Accounting for uncertainty in taxes Accounting Standards Codification Topic 740 (“ASC 740”) requires the Company to evaluate its income tax positions and recognize a liability for uncertain tax positions that are not more likely than not to be sustained by tax authorities. As of December 31, 2021 and 2020, the Company believes it had no income tax uncertainties that required recognition of a liability. If the Company were to determine that uncertain tax positions meet the criteria of ASC 740, an estimated liability and related interest and penalties would be recognized as income tax expense. Tax statute of limitations The Company files income tax returns in Canada, U.S. federal and state jurisdictions, and other foreign jurisdictions. There are currently no tax examinations underway for these jurisdictions. Furthermore, the Company is no longer subject to Canadian tax examinations by the Canadian Revenue Agency for years ended on or before December 31, 2017 or U.S. federal income tax examinations by the Internal Revenue Service for years ended on or before December 31, 2017. Some U.S. state and other foreign jurisdictions are still subject to tax examination for years ended on or before December 31, 2016. Although certain tax years are closed under the statute of limitations, tax authorities can still adjust losses being carried forward to open years. |
Geographic and Segment informat
Geographic and Segment information | 12 Months Ended |
Dec. 31, 2021 | |
Geographic and Segment information | |
Geographic And Segment Information | 11. Geographic and Segment information The Company has one reportable operating segment, consisting of evaluation, acquisition, and exploration activities. 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 years ended December 31, 2021 or 2020. Geographic location of mineral properties and plant and equipment is provided in Notes 4 and 5, respectively. |
Provision for Environmental Lia
Provision for Environmental Liability | 12 Months Ended |
Dec. 31, 2021 | |
Provision for Environmental Liability | |
Provision for Environmental Liability | 12. Provision for Environmental Liability Vista maintains a $240 provision for potential reclamation costs attributable to certain mining claims previously held by the Company should no other responsible or potentially responsible parties be identified. |
Subsequent Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2021 | |
Subsequent Events | |
Subsequent Events | 13. Subsequent Events The holder of Awak Mas, Indika, made the final $2,500 royalty cancellation payment on January 28, 2022. The Company canceled the remaining 1% NSR and 1.25% NSR and does not have any remaining interest in Awak Mas. In 2022, the Company will recognize a gain for the $2,500 payment plus $383 that is carried as deferred option gain as of December 31, 2021. There have been no other material events subsequent to December 31, 2021. |
Significant Accounting Polici_2
Significant Accounting Policies and Estimates (Policies) | 12 Months Ended |
Dec. 31, 2021 | |
Significant Accounting Policies and Estimates | |
Principles of Consolidation | Principles of Consolidation The Consolidated Financial Statements include the accounts of Vista and its subsidiaries, all of which are more-than-50% owned subsidiaries and under Vista’s control. All significant intercompany balances and transactions have been eliminated. The Consolidated Financial Statements have been prepared in accordance with U.S. GAAP. |
Use of Estimates | Use of Estimates Preparation of the Company’s Consolidated Financial Statements requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, income and expenses during the reporting period. The more significant areas requiring the use of management estimates and assumptions are: asset impairments, the fair value and accounting treatment of financial instruments including warrants; useful lives of assets for asset depreciation purposes; valuation allowances for deferred tax assets; the fair value and accounting treatment of stock-based compensation; and the provision for environmental liabilities. Management based its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. Accordingly, actual results will likely differ from amounts estimated in these financial statements. |
Cash and Cash Equivalents | Cash and Cash Equivalents Cash and cash equivalents include cash on hand and government securities with original maturities of 90 days or less when purchased. Because of the short maturity of these investments, carrying amounts approximate their fair values. |
Foreign Currency Translations | Foreign Currency Transactions Our functional currency is the U.S. dollar. Foreign currency transactions denominated in currency other than the functional currency are recorded at the approximate rate of exchange at the transaction date and any gains/(losses) resulting therefrom are recorded in other expense. For each of the years ended December 31, 2021 and 2020, net foreign currency gains/(losses) were insignificant. |
Short-term Investments | Short-term Investments Short-term investments consist of securities with original maturity dates greater than 90 days and less than one year. These securities are typically United States or Australian government treasury bills and/or notes. Short-term investments are recorded at amortized cost and are classified as debt securities held-to-maturity as the Company has the intention and ability to hold these instruments until their original maturity date at the time of purchase. |
Mineral Properties | Mineral Properties Mineral property acquisition costs, including directly related costs, are capitalized when incurred, and mineral property exploration costs are expensed as incurred. Capitalized costs will be depleted using the units-of-production method over the estimated life of the proven and probable reserves. If mineral properties are subsequently sold or abandoned, any un-depleted costs will be charged to expense in that period. The recoverability of the carrying values of our mineral properties is dependent upon economic reserves being discovered or developed on the properties, permitting, financing, start-up, and commercial production from, or the sale/lease of, or other strategic transactions related to these properties. Development and/or start-up of any of these projects will depend on, among other things, management’s ability to raise sufficient capital for these purposes. Proceeds received from option or sale agreements are ascribed to recovery of the carrying value of the related project until the carrying value reaches zero. Thereafter, any additional proceeds received are recognized as a contract liability (deferred option gain) until control has transferred to the buyer or the related contract terminates. We assess the carrying value of mineral properties for impairment whenever information or circumstances indicate the potential for impairment. This would include events and circumstances such as our inability to obtain all the necessary permits, changes in the legal status of our mineral properties, government actions, the results of exploration activities and technical evaluations and changes in economic conditions, including the price of gold and other commodities or input prices. Such evaluations compare estimated future net cash flows with our carrying costs and future obligations on an undiscounted basis. If it is determined that the estimated future undiscounted cash flows are less than the carrying value of the property, a write-down to the estimated fair value will then be reported in our Consolidated Statement of Income/(Loss) for the period. Where estimates of future net cash flows are not determinable and where other conditions indicate the potential for impairment, management uses available market information and/or third-party valuation experts to assess if the carrying value can be recovered and to estimate fair value. |
Impairment | Impairment Carrying values of long-lived assets, other than mineral properties, are evaluated for impairment at such time that information becomes available indicating that the carrying value may not be recoverable. If it is determined that the fair value is less than the carrying value an impairment charge equal to the difference between the fair value and the carrying value will be recorded in our Consolidated Statements of Income/(Loss). |
Stock-Based Compensation | Stock-Based Compensation Under our stock option, long-term incentive, and deferred share unit plans, the Company can grant stock incentive options, restricted share units, and deferred share units to executives, employees, consultants and non-employee directors as applicable. Compensation expense for such grants is recorded in the Consolidated Statements of Income/(Loss) as a component of exploration, property evaluation and holding costs and corporate administration, with a corresponding increase to Common Shares in the Consolidated Balance Sheets. The fair value of option grants is calculated using the Black-Scholes option pricing model. The fair value of restricted and deferred share units is based on the closing price of our Common Shares on the grant date, and in certain cases, adjusted by a Brownian motion price model. The expense is based on the fair value of the grant on the grant date and is recognized over the vesting period specified for each grant. Forfeitures of unvested awards for all stock-based compensation result in expense reversal upon forfeiture. |
Financial Instruments | Financial Instruments Accounting Standards Codification Topic 820, Fair Value Measurements and Disclosures (“ASC 820”) of the Financial Accounting Standards Board (“FASB”) requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 establishes a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used to measure fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. ASC 820 prioritizes the inputs into three levels that may be used to measure fair value: ● Level 1 – Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. ● Level 2 – Observable inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data by correlation or other means. ● Level 3 – Prices or valuation techniques requiring inputs that are both significant to the fair value measurement and unobservable. Our financial instruments include cash and cash equivalents, marketable securities, short-term investments, accounts payable and certain other current assets and liabilities. Due to the short-term nature of our cash and cash equivalents, short-term investments, accounts payable and certain other current assets and liabilities, we believe that their carrying amounts approximate fair value. Our other investments are accounted for at fair value based on quoted market prices in an active market and are included in Level 1 of the fair value hierarchy. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements Government Assistance In November 2021, the FASB issued ASU No. 2021-10 Government Assistance (Topic 832) Disclosures by Business Entities About Government Assistance |
Other Investments (Tables)
Other Investments (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Other Investments | |
Summary of investment in Midas Gold Shares | December 31, 2021 December 31, 2020 Fair value at beginning of period $ 293 $ 3,676 Midas Gold Shares sold — (5,788) Nusantara Resources shares sold (339) — Realized gain 46 2,405 Fair value at end of period $ — $ 293 |
Mineral Properties (Tables)
Mineral Properties (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Mineral Properties | |
Schedule of Mineral Properties | At December 31, 2020 At December 31, 2019 Mt Todd, Australia $ 2,146 $ 2,146 |
Plant and Equipment (Tables)
Plant and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Plant and Equipment | |
Schedule Of Plant And Equipment | December 31, 2021 December 31, 2020 Accumulated Accumulated Cost Depreciation Net Cost Depreciation Net Mt Todd, Australia $ 5,359 $ 5,126 $ 233 $ 5,306 $ 5,163 $ 143 Corporate, United States 333 333 — 333 333 — Used mill equipment, Canada — — — 5,500 — 5,500 $ 5,692 $ 5,459 $ 233 $ 11,139 $ 5,496 $ 5,643 |
Common Shares (Tables)
Common Shares (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Common Shares | |
Summary of outstanding warrants | 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 December 31, 2021 7,408,101 $ 1.25 2.5 |
Summary of stock-based compensation expense | Year Ended December 31, 2021 2020 RSUs $ 672 $ 643 DSUs 212 209 Stock Options 3 61 $ 887 $ 913 Phantom units $ 26 $ 98 |
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 - December 31, 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 - December 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 - December 31, 2021 1,367,000 $ 0.71 1.64 $ 38 Exercisable - December 31, 2021 1,367,000 $ 0.71 1.64 $ 38 |
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 - December 31, 2021 — $ — — |
Summary of stock option assumptions | 2020 Expected volatility 64.1 % Risk-free interest rate 0.3 % Expected life (years) 2.6 Dividend yield 0 % Forfeiture assumption 0 % |
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 - December 31, 2021 — — |
Schedule of weighted average common shares | At December 31, 2021 2020 Basic Common Shares 110,263,237 101,814,139 Effect of dilutive stock-based awards — 2,664,781 Diluted Common Shares 110,263,237 104,478,920 |
Fair Value Accounting (Tables)
Fair Value Accounting (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Fair Value Accounting | |
Schedule of assets measured at fair value | Fair Value at December 31, 2021 Total Level 1 Level 3 Other investments $ — $ — $ — Used mill equipment (non-recurring) $ — $ — $ — Fair Value at December 31, 2020 Total Level 1 Level 3 Other investments $ 293 $ 293 $ — |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Income Taxes | |
Schedule of income/(loss) before income tax, domestic and foreign | Years Ended December 31, 2021 2020 U.S. $ (136) $ 1,879 Canada (7,155) (308) Other foreign, net (7,946) (1,151) $ (15,237) $ 420 |
Schedule of effective income tax rate reconciliation | Years Ended December 31, 2021 2020 Income taxed at statutory rates $ (3,743) $ 36 Increase (decrease) in taxes from: State Tax (21) 66 Stock-based compensation 33 50 Imputed interest 1 9 Other adjustments — (1) Mining concessions disposition — 853 Inflation adjustment (2) (254) Prior year provision to actual adjustments (493) 885 Change in U.S. tax rate — 29 Change in foreign tax rate — 100 Differentials in foreign tax rates (186) (52) Changes in foreign exchange rates 911 (1,236) Changes in valuation allowances affecting income tax expense or benefit 3,500 (485) Income tax (benefit)/expense $ — $ — |
Schedule of deferred tax assets and liabilities | December 31, 2021 2020 Deferred income tax assets Excess tax basis over book basis of property, plant and equipment $ 7,225 $ 7,776 Marketable securities 103 — Operating loss carryforwards 40,620 36,965 Capital loss carryforwards 14,065 13,778 Capital expenditures 374 374 Stock compensation 179 164 VAT recoverable 145 150 Unrealized foreign exchange gain/loss 116 117 Environmental liability 65 65 Offering costs 305 46 Accrued vacation 26 22 Other 4 5 Total future tax assets 63,227 59,462 Valuation allowance for future tax assets (63,227) (59,401) — 61 Deferred income tax liabilities Other investments — 61 — 61 Total Deferred Taxes $ — $ — |
Summary of expiring loss carryforwards | Noncapital Canada U.S. Mexico Barbados Total 2021 — — — 4 4 2022 — — 1,602 6 1,608 2023 — — 373 6 379 2024 — — — 6 6 2025 — — 80 6 86 2026 1,027 — 822 5 1,854 2027 847 — — 7 854 2028 5,245 — — 7 5,252 2029 4,022 — — — 4,022 2030 5,032 1,748 — — 6,780 2031 3,806 3,407 72 — 7,285 2032 6,397 2,323 — — 8,720 2033 6,185 3,098 — — 9,283 2034 4,420 — — — 4,420 2035 3,729 2 — — 3,731 2036 2,799 2,655 — — 5,454 2037 1,916 2,482 — — 4,398 2038 2,666 — — — 2,666 2039 3,338 — — — 3,338 2040 2,829 — — — 2,829 2041 5,370 — — — 5,370 $ 59,628 $ 15,715 $ 2,949 $ 47 $ 78,339 U.S. loss carryforwards for tax years beginning in 2018 through 2021 of $2,686, Canadian capital loss carryforwards of $104,184 and Australian NOLs of $63,795, which do not expire, are not included in the previous table. |
Nature of Operations (Details)
Nature of Operations (Details) | 12 Months Ended |
Dec. 31, 2021 | |
Mt Todd, Australia | |
Property, Plant and Equipment [Line Items] | |
Percentage of ownership in project | 100.00% |
Significant Accounting Polici_3
Significant Accounting Policies and Estimates (Details) | Dec. 31, 2021 |
Minimum | |
Significant Accounting Policies | |
Ownership percentage | 50.00% |
Other Investments - Short-term
Other Investments - Short-term (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Short-term investments | ||
Available-for-sale Debt Securities, Amortized Cost Basis | $ 384 | $ 400 |
Other Investments - Summary (De
Other Investments - Summary (Details) $ in Thousands | Oct. 06, 2021USD ($) | Dec. 31, 2021USD ($) | Dec. 31, 2020USD ($)shares | Sep. 22, 2021$ / shares |
Other Investments | ||||
Proceeds from Sale and Maturity of Marketable Securities | $ 339 | $ 5,788 | ||
Fair value at beginning of period | 293 | 3,676 | ||
Realized gain | 46 | 2,405 | ||
Fair value at end of period | 0 | 293 | ||
Midas Gold Shares [Member] | ||||
Other Investments | ||||
Marketable Securities Cumulative Gain (Loss) | (11,841) | |||
Marketable Securities Cumulative Gain (Loss), Recognized As Unrealized In Previous Periods | (14,415) | |||
Proceeds from Sale and Maturity of Marketable Securities | 5,788 | |||
Marketable Securities, Realized Gain (Loss) | 2,574 | |||
Realized change | 0 | $ (5,788) | ||
Nusantara Resources | ||||
Other Investments | ||||
Shares owned | shares | 1,333,334 | |||
Proceeds from Sale and Maturity of Marketable Securities | $ 339 | |||
Realized change | $ (339) | $ 0 | ||
Nusantara Resources | ||||
Other Investments | ||||
Sale of Stock, Price Per Share | $ / shares | $ 0.35 |
Mineral Properties - Properties
Mineral Properties - Properties (Details) - USD ($) $ in Thousands | Dec. 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 |
Mineral Properties - Guadalupe
Mineral Properties - Guadalupe (Details) - USD ($) $ in Thousands | 1 Months Ended | 3 Months Ended | 12 Months Ended | ||||
Jun. 30, 2021 | Jan. 31, 2021 | Jul. 31, 2020 | Sep. 30, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | Jun. 30, 2020 | |
Property, Plant and Equipment [Line Items] | |||||||
Deferred option gain | $ 383 | $ 68 | |||||
Gain (Loss) On Disposal Of Mineral Property Interests, Net | 2,100 | $ 6,108 | |||||
Guadalupe De Los Reyes, Mexico | Option Agreement Two | |||||||
Property, Plant and Equipment [Line Items] | |||||||
Sale price of gold/silver project | $ 1,500 | ||||||
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 | |||||
Deferred option gain | $ 2,892 | ||||||
Gain (Loss) On Disposal Of Mineral Property Interests, Net | $ 3,540 | $ 2,100 |
Mineral Properties - Awak Mas (
Mineral Properties - Awak Mas (Details) $ in Thousands | Jan. 28, 2022USD ($) | May 05, 2020USD ($) | Nov. 01, 2019USD ($)oz | Apr. 30, 2021USD ($) | Dec. 31, 2021USD ($) | Dec. 31, 2020USD ($) | May 04, 2020USD ($) |
Property, Plant and Equipment [Line Items] | |||||||
Gain (Loss) On Disposal Of Mineral Property Interests, Net | $ 2,100 | $ 6,108 | |||||
Awak Mas | Subsequent Event [Member] | |||||||
Property, Plant and Equipment [Line Items] | |||||||
NSR Cancellation Proceeds | $ 2,500 | ||||||
Awak Mas | First 1,250,000 Ounces Produced | Subsequent Event [Member] | |||||||
Property, Plant and Equipment [Line Items] | |||||||
NSR Royalty Cancellation, Percentage | 1.00% | ||||||
Awak Mas | Next 1,250,000 Ounces Produced | Subsequent Event [Member] | |||||||
Property, Plant and Equipment [Line Items] | |||||||
NSR Royalty Cancellation, Percentage | 1.25% | ||||||
PT Masmindo Dwi Area | Awak Mas | |||||||
Property, Plant and Equipment [Line Items] | |||||||
NSR Cancellation Proceeds | $ 2,400 | ||||||
Amount received for extension of Properties | 315 | ||||||
Disposal Group, Deferred Gain on Disposal | $ 383 | $ 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 | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Property, Plant and Equipment [Line Items] | ||
Cost | $ 5,692 | $ 11,139 |
Accumulated depreciation | 5,459 | 5,496 |
Net | 233 | 5,643 |
Impairment charge | 5,500 | |
Mt Todd, Australia | ||
Property, Plant and Equipment [Line Items] | ||
Cost | 5,359 | 5,306 |
Accumulated depreciation | 5,126 | 5,163 |
Net | 233 | 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 | 0 | 5,500 |
Accumulated depreciation | 0 | 0 |
Net | $ 0 | $ 5,500 |
Common Shares - Equity Financin
Common Shares - Equity Financing (Details) $ in Thousands | 1 Months Ended | 12 Months Ended | |||
Jul. 31, 2021USD ($)$ / sharesYshares | Jan. 31, 2021USD ($) | Jun. 30, 2020USD ($) | Dec. 31, 2021USD ($)securityshares | Dec. 31, 2020USD ($)shares | |
Subsidiary, Sale of Stock [Line Items] | |||||
Proceeds from Issuance of Common Stock | $ | $ 13,385 | $ 1,768 | |||
Warrants Not Settleable in Cash, Fair Value Disclosure | $ | $ 1,991 | ||||
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 | $ / shares | 0.89 | ||||
Capital Units [Member] | |||||
Subsidiary, Sale of Stock [Line Items] | |||||
Stock Issued During Period, Shares, New Issues | 12,272,730 | ||||
Proceeds from Issuance of Common Stock | $ | $ 12,323 | ||||
Payments of Stock Issuance Costs | $ | $ 1,177 | ||||
Number Of Shares Converted By Each Unit | 1 | ||||
Number Of Shares Converted By Each Warrant | 0.5 | ||||
Warrants Issued | 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 | 1 | ||||
Exercise Price Of Warrants Or Rights | $ / shares | $ 1.25 | ||||
Common Stock, Fair Value Disclosure | $ | $ 11,509 | ||||
Underwriter [Member] | Capital Units [Member] | |||||
Subsidiary, Sale of Stock [Line Items] | |||||
Warrants Issued | 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 | $ 10,000 | |||
Stock Issued During Period, Shares, New Issues | 798,270 | 2,028,334 | |||
Proceeds from Issuance of Common Stock | $ | $ 191 | $ 871 | $ 1,959 | ||
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 | 920,454 |
Common Shares - Share Issuances
Common Shares - Share Issuances (Details) - shares | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Common Shares | ||
Shares issued (RSUs vested and options (in shares) | 946,328 | 445,446 |
Common Shares - Warrants (Detai
Common Shares - Warrants (Details) - Warrants [Member] - $ / shares | 12 Months Ended | |
Dec. 31, 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 6 months | 0 years |
Common Shares - Stock-Based Com
Common Shares - Stock-Based Compensation (Details) - USD ($) $ in Thousands | 1 Months Ended | 12 Months Ended | |||
Feb. 28, 2021 | Mar. 31, 2020 | Dec. 31, 2021 | Dec. 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 | $ 887 | $ 913 | |||
Stock Options [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Stock-based compensation expense | 3 | 61 | |||
Restricted Stock Units (RSUs) [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Stock-based compensation expense | 672 | 643 | |||
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 | $ 26 | $ 98 |
Common Shares - Unrecognized Co
Common Shares - Unrecognized Compensation (Details) - Restricted Stock Units (RSUs) [Member] $ in Thousands | 12 Months Ended |
Dec. 31, 2021USD ($) | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Unrecognized compensation expense related to unvested awards | $ 312 |
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) - Restricted Stock Units (RSUs) [Member] - $ / shares | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
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 |
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 |
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 |
Fixed future date | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Vesting (as a percent) | 35.00% | |
Performance criteria | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Vesting (as a percent) | 11.00% | |
Market criteria | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Vesting (as a percent) | 54.00% | |
Minimum | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Vesting period | 1 year |
Common Shares - Summary Of Defe
Common Shares - Summary Of Deferred Share Units Activity (Details) $ / shares in Units, $ in Thousands | 1 Months Ended | 12 Months Ended | ||
Feb. 28, 2021USD ($)shares | Mar. 31, 2020USD ($)shares | Dec. 31, 2021USD ($)$ / sharesshares | Dec. 31, 2020USD ($)$ / sharesshares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Allocated Share-based Compensation Expense | $ | $ 887 | $ 913 | ||
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 | ||
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 | ||
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 | 12 Months Ended | ||
Dec. 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) | 1,367,000 | ||
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 7 months 20 days | 2 years 7 months 17 days | 3 years 5 months 26 days |
Weighted average remaining contractual term, Exercisable | 1 year 7 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) | 38 | $ 507 | $ 35 |
Aggregate intrinsic value, Options, Exercisable | $ 38 |
Common Shares - Summary Of The
Common Shares - Summary Of The Status Of Unvested Stock Options (Details) - $ / shares | 12 Months Ended | ||
Dec. 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) | (33,333) | (530,671) | |
Unvested, Number of options, end of period (in shares) | 0 | 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 | $ 0.31 | $ 0.40 |
Weighted average remaining amortization period | 0 years | 3 months | 7 months 9 days |
Common Shares - Stock Options A
Common Shares - Stock Options Assumptions (Details) - Stock Options [Member] | 12 Months Ended |
Dec. 31, 2020 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Expected volatility (as a percent) | 64.10% |
Risk-free interest rate (as a percent) | 0.30% |
Expected life (years) | 2 years 7 months 6 days |
Dividend yield | 0.00% |
Forfeiture assumption (as a percent) | 0.00% |
Common Shares - Summary Of Phan
Common Shares - Summary Of Phantom Units Activity (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Liabilities, Current | $ 1,788 | $ 1,126 | |
Stock-based compensation expense | 887 | 913 | |
Phantom Share Units (PSUs) | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Liabilities, Current | 39 | ||
Stock-based compensation expense | 26 | 98 | |
Payments for Share Based Compensation | $ 65 | $ 86 | |
Unvested, Number of units, beginning of period (in shares) | 72,000 | 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 | 72,000 | 144,000 |
Weighted average remaining contractual term | 0 years | 6 months | 1 year |
Common Shares - Weighted Averag
Common Shares - Weighted Average (Details) - shares | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Common Shares | ||
Basic Common Shares | 110,263,237 | 101,814,139 |
Effect of dilutive stock-based awards | 0 | 2,664,781 |
Diluted Common Shares | 110,263,237 | 104,478,920 |
Common Shares - Anti-dilutive (
Common Shares - Anti-dilutive (Details) - shares | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Stock Options [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Anti-dilutive shares outstanding | 1,367,000 | 50,000 |
Restricted Stock Units (RSUs) [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Anti-dilutive shares outstanding | 1,998,339 | |
Warrants [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Class of Warrant or Right, Number of Securities | 7,408,101 | |
Deferred Stock Units (DSU) [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Anti-dilutive shares outstanding | 930,000 |
Commitments And Contingencies (
Commitments And Contingencies (Details) - Mt Todd, Australia - AUD ($) $ in Millions | 1 Months Ended | 12 Months Ended |
Nov. 30, 2020 | Dec. 31, 2021 | |
Loss Contingencies [Line Items] | ||
Percentage of ownership in project | 100.00% | |
Scenario, Plan | ||
Loss Contingencies [Line Items] | ||
Mine Reclamation and Closing Liability, Noncurrent | $ 73 | |
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 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Fair Value Accounting | |||
Other investments, at fair value | $ 0 | $ 293 | $ 3,676 |
Fair Value Transfers Between Levels | 0 | ||
Fair Value, Inputs, Level 3 [Member] | Used mill equipment, Canada | |||
Fair Value Accounting | |||
Used mill equipment (non-recurring) | |||
Recurring | |||
Fair Value Accounting | |||
Other investments, at fair value | 0 | 293 | |
Recurring | Fair Value, Inputs, Level 1 [Member] | |||
Fair Value Accounting | |||
Other investments, at fair value | 0 | 293 | |
Recurring | Fair Value, Inputs, Level 3 [Member] | |||
Fair Value Accounting | |||
Other investments, at fair value | 0 | $ 0 | |
Non-recurring | Used mill equipment, Canada | |||
Fair Value Accounting | |||
Used mill equipment (non-recurring) | 0 | ||
Non-recurring | Fair Value, Inputs, Level 1 [Member] | Used mill equipment, Canada | |||
Fair Value Accounting | |||
Used mill equipment (non-recurring) | 0 | ||
Non-recurring | Fair Value, Inputs, Level 3 [Member] | Used mill equipment, Canada | |||
Fair Value Accounting | |||
Used mill equipment (non-recurring) | $ 0 |
Supplemental Cash Flow Inform_2
Supplemental Cash Flow Information and Material Non-Cash Transactions (Details) | Dec. 31, 2020shares |
Nusantara Resources | |
Shares owned | 1,333,334 |
Income Taxes - Source of Income
Income Taxes - Source of Income (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Income/(loss) before income taxes | $ (15,237) | $ 420 |
U.S. | ||
Income (loss) before income taxes, domestic | (136) | 1,879 |
Canada | ||
Income (loss) before income taxes, foreign | (7,155) | (308) |
Other Foreign | ||
Income (loss) before income taxes, foreign | $ (7,946) | $ (1,151) |
Income Taxes - Deferred Tax Exp
Income Taxes - Deferred Tax Expense (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
U.S. | ||
Current income tax expense (benefit) | ||
Deferred income tax expense (benefit) | ||
Canada | ||
Current income tax expense (benefit) | ||
Deferred income tax expense (benefit) | ||
Other Foreign | ||
Current income tax expense (benefit) | ||
Deferred income tax expense (benefit) |
Income Taxes - Rate Reconciliat
Income Taxes - Rate Reconciliation (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Effective Income Tax Rate Reconciliation, Percent [Abstract] | ||
Income taxed at statutory rates | $ (3,743) | $ 36 |
State Tax | (21) | 66 |
Stock-based compensation | 33 | 50 |
Imputed interest | 1 | 9 |
Other adjustments | 0 | (1) |
Mining concessions disposition | 0 | 853 |
Inflation adjustment | (2) | (254) |
Prior year provision to actual adjustments | (493) | 885 |
Change in U.S. tax rate | 0 | 29 |
Change in foreign tax rate | 0 | 100 |
Differentials in foreign tax rates | (186) | (52) |
Changes in foreign exchange rates | 911 | (1,236) |
Changes in valuation allowances affecting income tax expense or benefit | 3,500 | (485) |
Income tax (benefit)/expense | 0 | $ 0 |
Effective Income Tax Rate Reconciliation, Other Reconciling Items, Amount | $ 326 |
Income Taxes - Deferred Tax Ass
Income Taxes - Deferred Tax Assets Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Components of Deferred Tax Assets and Liabilities [Abstract] | ||
Excess tax basis over book basis of property, plant, and equipment | $ 7,225 | $ 7,776 |
Marketable securities | 103 | 0 |
Operating loss carryforwards | 40,620 | 36,965 |
Capital loss carryforwards | 14,065 | 13,778 |
Capital expenditures | 374 | 374 |
Stock compensation | 179 | 164 |
VAT recoverable | 145 | 150 |
Unrealized foreign exchange gain/loss | 116 | 117 |
Environmental liability | 65 | 65 |
Offering costs | 305 | 46 |
Accrued vacation | 26 | 22 |
Other | 4 | 5 |
Total future tax assets | 63,227 | 59,462 |
Valuation allowance for future tax assets | (63,227) | (59,401) |
Total income tax assets | 0 | 61 |
Other investments | 0 | 61 |
Total deferred income tax liabilities | 0 | 61 |
Total Deferred Taxes | $ 0 | $ 0 |
Income Taxes - Operating Loss C
Income Taxes - Operating Loss Carryforward Expirations (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2018 | |
Operating Loss Carryforwards [Line Items] | ||
Total | $ 78,339 | |
Canada | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring noncapital loss carryforwards | 59,628 | |
Capital loss carryforwards | $ 104,184 | |
U.S. | ||
Operating Loss Carryforwards [Line Items] | ||
Operating loss carryforwards | 2,686 | |
Expiring net operating loss carryforwards | 15,715 | |
Mexico | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring net operating loss carryforwards | 2,949 | |
Barbados | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring net operating loss carryforwards | 47 | |
Australia | ||
Operating Loss Carryforwards [Line Items] | ||
Operating loss carryforwards | $ 63,795 | |
Tax Year 2021 | ||
Operating Loss Carryforwards [Line Items] | ||
Total | 4 | |
Tax Year 2021 | Canada | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring noncapital loss carryforwards | 0 | |
Tax Year 2021 | U.S. | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring net operating loss carryforwards | 0 | |
Tax Year 2021 | Mexico | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring net operating loss carryforwards | 0 | |
Tax Year 2021 | Barbados | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring net operating loss carryforwards | 4 | |
Tax Year 2022 | ||
Operating Loss Carryforwards [Line Items] | ||
Total | 1,608 | |
Tax Year 2022 | Canada | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring noncapital loss carryforwards | 0 | |
Tax Year 2022 | U.S. | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring net operating loss carryforwards | 0 | |
Tax Year 2022 | Mexico | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring net operating loss carryforwards | 1,602 | |
Tax Year 2022 | Barbados | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring net operating loss carryforwards | 6 | |
Tax Year 2023 | ||
Operating Loss Carryforwards [Line Items] | ||
Total | 379 | |
Tax Year 2023 | Canada | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring noncapital loss carryforwards | 0 | |
Tax Year 2023 | U.S. | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring net operating loss carryforwards | 0 | |
Tax Year 2023 | Mexico | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring net operating loss carryforwards | 373 | |
Tax Year 2023 | Barbados | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring net operating loss carryforwards | 6 | |
Tax Year 2024 | ||
Operating Loss Carryforwards [Line Items] | ||
Total | 6 | |
Tax Year 2024 | Canada | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring noncapital loss carryforwards | 0 | |
Tax Year 2024 | U.S. | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring net operating loss carryforwards | 0 | |
Tax Year 2024 | Mexico | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring net operating loss carryforwards | 0 | |
Tax Year 2024 | Barbados | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring net operating loss carryforwards | 6 | |
Tax Year 2025 | ||
Operating Loss Carryforwards [Line Items] | ||
Total | 86 | |
Tax Year 2025 | Canada | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring noncapital loss carryforwards | 0 | |
Tax Year 2025 | U.S. | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring net operating loss carryforwards | 0 | |
Tax Year 2025 | Mexico | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring net operating loss carryforwards | 80 | |
Tax Year 2025 | Barbados | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring net operating loss carryforwards | 6 | |
Tax Year 2026 | ||
Operating Loss Carryforwards [Line Items] | ||
Total | 1,854 | |
Tax Year 2026 | Canada | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring noncapital loss carryforwards | 1,027 | |
Tax Year 2026 | U.S. | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring net operating loss carryforwards | 0 | |
Tax Year 2026 | Mexico | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring net operating loss carryforwards | 822 | |
Tax Year 2026 | Barbados | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring net operating loss carryforwards | 5 | |
Tax Year 2027 | ||
Operating Loss Carryforwards [Line Items] | ||
Total | 854 | |
Tax Year 2027 | Canada | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring noncapital loss carryforwards | 847 | |
Tax Year 2027 | U.S. | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring net operating loss carryforwards | 0 | |
Tax Year 2027 | Mexico | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring net operating loss carryforwards | 0 | |
Tax Year 2027 | Barbados | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring net operating loss carryforwards | 7 | |
Tax Year 2028 | ||
Operating Loss Carryforwards [Line Items] | ||
Total | 5,252 | |
Tax Year 2028 | Canada | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring noncapital loss carryforwards | 5,245 | |
Tax Year 2028 | U.S. | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring net operating loss carryforwards | 0 | |
Tax Year 2028 | Mexico | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring net operating loss carryforwards | 0 | |
Tax Year 2028 | Barbados | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring net operating loss carryforwards | 7 | |
Tax Year 2029 | ||
Operating Loss Carryforwards [Line Items] | ||
Total | 4,022 | |
Tax Year 2029 | Canada | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring noncapital loss carryforwards | 4,022 | |
Tax Year 2029 | U.S. | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring net operating loss carryforwards | 0 | |
Tax Year 2029 | Mexico | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring net operating loss carryforwards | 0 | |
Tax Year 2029 | Barbados | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring net operating loss carryforwards | 0 | |
Tax Year 2030 | ||
Operating Loss Carryforwards [Line Items] | ||
Total | 6,780 | |
Tax Year 2030 | Canada | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring noncapital loss carryforwards | 5,032 | |
Tax Year 2030 | U.S. | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring net operating loss carryforwards | 1,748 | |
Tax Year 2030 | Mexico | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring net operating loss carryforwards | 0 | |
Tax Year 2030 | Barbados | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring net operating loss carryforwards | 0 | |
Tax Year 2031 | ||
Operating Loss Carryforwards [Line Items] | ||
Total | 7,285 | |
Tax Year 2031 | Canada | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring noncapital loss carryforwards | 3,806 | |
Tax Year 2031 | U.S. | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring net operating loss carryforwards | 3,407 | |
Tax Year 2031 | Mexico | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring net operating loss carryforwards | 72 | |
Tax Year 2031 | Barbados | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring net operating loss carryforwards | 0 | |
Tax Year 2032 | ||
Operating Loss Carryforwards [Line Items] | ||
Total | 8,720 | |
Tax Year 2032 | Canada | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring noncapital loss carryforwards | 6,397 | |
Tax Year 2032 | U.S. | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring net operating loss carryforwards | 2,323 | |
Tax Year 2032 | Mexico | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring net operating loss carryforwards | 0 | |
Tax Year 2032 | Barbados | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring net operating loss carryforwards | 0 | |
Tax Year 2033 | ||
Operating Loss Carryforwards [Line Items] | ||
Total | 9,283 | |
Tax Year 2033 | Canada | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring noncapital loss carryforwards | 6,185 | |
Tax Year 2033 | U.S. | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring net operating loss carryforwards | 3,098 | |
Tax Year 2033 | Mexico | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring net operating loss carryforwards | 0 | |
Tax Year 2033 | Barbados | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring net operating loss carryforwards | 0 | |
Tax Year 2034 | ||
Operating Loss Carryforwards [Line Items] | ||
Total | 4,420 | |
Tax Year 2034 | Canada | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring noncapital loss carryforwards | 4,420 | |
Tax Year 2034 | U.S. | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring net operating loss carryforwards | 0 | |
Tax Year 2034 | Mexico | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring net operating loss carryforwards | 0 | |
Tax Year 2034 | Barbados | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring net operating loss carryforwards | 0 | |
Tax year 2035 | ||
Operating Loss Carryforwards [Line Items] | ||
Total | 3,731 | |
Tax year 2035 | Canada | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring noncapital loss carryforwards | 3,729 | |
Tax year 2035 | U.S. | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring net operating loss carryforwards | 2 | |
Tax year 2035 | Mexico | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring net operating loss carryforwards | 0 | |
Tax year 2035 | Barbados | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring net operating loss carryforwards | 0 | |
Tax Year 2036 | ||
Operating Loss Carryforwards [Line Items] | ||
Total | 5,454 | |
Tax Year 2036 | Canada | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring noncapital loss carryforwards | 2,799 | |
Tax Year 2036 | U.S. | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring net operating loss carryforwards | 2,655 | |
Tax Year 2036 | Mexico | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring net operating loss carryforwards | 0 | |
Tax Year 2036 | Barbados | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring net operating loss carryforwards | 0 | |
Tax Year 2037 | ||
Operating Loss Carryforwards [Line Items] | ||
Total | 4,398 | |
Tax Year 2037 | Canada | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring noncapital loss carryforwards | 1,916 | |
Tax Year 2037 | U.S. | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring net operating loss carryforwards | 2,482 | |
Tax Year 2037 | Mexico | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring net operating loss carryforwards | 0 | |
Tax Year 2037 | Barbados | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring net operating loss carryforwards | 0 | |
Tax Year 2038 | ||
Operating Loss Carryforwards [Line Items] | ||
Total | 2,666 | |
Tax Year 2038 | Canada | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring noncapital loss carryforwards | 2,666 | |
Tax Year 2038 | U.S. | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring net operating loss carryforwards | 0 | |
Tax Year 2038 | Mexico | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring net operating loss carryforwards | 0 | |
Tax Year 2038 | Barbados | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring net operating loss carryforwards | 0 | |
Tax Year 2039 | ||
Operating Loss Carryforwards [Line Items] | ||
Total | 3,338 | |
Tax Year 2039 | Canada | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring noncapital loss carryforwards | 3,338 | |
Tax Year 2039 | U.S. | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring net operating loss carryforwards | 0 | |
Tax Year 2039 | Mexico | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring net operating loss carryforwards | 0 | |
Tax Year 2039 | Barbados | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring net operating loss carryforwards | 0 | |
Tax Year 2040 | ||
Operating Loss Carryforwards [Line Items] | ||
Total | 2,829 | |
Tax Year 2040 | Canada | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring noncapital loss carryforwards | 2,829 | |
Tax Year 2040 | U.S. | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring net operating loss carryforwards | 0 | |
Tax Year 2040 | Mexico | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring net operating loss carryforwards | 0 | |
Tax Year 2040 | Barbados | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring net operating loss carryforwards | 0 | |
Tax Year 2041 | ||
Operating Loss Carryforwards [Line Items] | ||
Total | 5,370 | |
Tax Year 2041 | Canada | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring noncapital loss carryforwards | 5,370 | |
Tax Year 2041 | U.S. | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring net operating loss carryforwards | 0 | |
Tax Year 2041 | Mexico | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring net operating loss carryforwards | 0 | |
Tax Year 2041 | Barbados | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring net operating loss carryforwards | $ 0 |
Geographic And Segment Inform_2
Geographic And Segment Information (Details) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021USD ($)segment | Dec. 31, 2020USD ($) | |
Geographic and Segment information | ||
Number of reportable segments | segment | 1 | |
Revenues | $ | $ 0 | $ 0 |
Provision for Environmental L_2
Provision for Environmental Liability (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Provision for Environmental Liability | ||
Provision for environmental liability | $ 240 | $ 240 |
Subsequent Events (Details)
Subsequent Events (Details) - USD ($) $ in Thousands | Jan. 28, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Subsequent Event [Line Items] | ||||
Gain on disposal of mineral property interests, net (Note 4) | $ 2,100 | $ 6,108 | ||
Deferred option gain (Note 4) | 383 | $ 68 | ||
Awak Mas | ||||
Subsequent Event [Line Items] | ||||
Deferred option gain (Note 4) | $ 383 | |||
Awak Mas | Forecast | ||||
Subsequent Event [Line Items] | ||||
Gain on disposal of mineral property interests, net (Note 4) | $ 2,500 | |||
Subsequent Event [Member] | Awak Mas | ||||
Subsequent Event [Line Items] | ||||
NSR Cancellation Proceeds | $ 2,500 | |||
Subsequent Event [Member] | Awak Mas | First 1,250,000 Ounces Produced | ||||
Subsequent Event [Line Items] | ||||
NSR Royalty Cancellation, Percentage | 1.00% | |||
Subsequent Event [Member] | Awak Mas | Next 1,250,000 Ounces Produced | ||||
Subsequent Event [Line Items] | ||||
NSR Royalty Cancellation, Percentage | 1.25% |