Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | |||
Dec. 31, 2023 | Dec. 31, 2022 | Mar. 07, 2024 | Jun. 30, 2023 | |
Cover [Abstract] | ||||
Document Type | 10-K | |||
Document Annual Report | true | |||
Document Transition Report | false | |||
Document Period End Date | Dec. 31, 2023 | |||
Entity File Number | 001-09025 | |||
Entity Registrant Name | VISTA GOLD CORP. | |||
Entity Incorporation, State or Country Code | A1 | |||
Entity Tax Identification Number | 98-0542444 | |||
Entity Address, Address Line One | 8310 S Valley Hwy, Suite 300 | |||
Entity Address, City or Town | Englewood | |||
Entity Address, State or Province | CO | |||
Entity Address, Postal Zip Code | 80112 | |||
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 Well-known Seasoned Issuer | No | |||
Entity Voluntary Filers | No | |||
Entity Current Reporting Status | Yes | |||
Entity Interactive Data Current | Yes | |||
Entity Filer Category | Non-accelerated Filer | |||
Entity Small Business | true | |||
Entity Emerging Growth Company | false | |||
ICFR Auditor Attestation Flag | false | |||
Document Financial Statement Error Correction Flag | false | |||
Entity Shell Company | false | |||
Entity Public Float | $ 62,966,000 | |||
Entity Common Stock, Shares Outstanding | 121,534,045 | |||
Auditor Name | Davidson & Company LLP | Plante & Moran, PLLC | ||
Auditor Firm ID | 731 | 166 | ||
Auditor Location | Vancouver, Canada | Denver, Colorado | ||
Entity Central Index Key | 0000783324 | |||
Current Fiscal Year End Date | --12-31 | |||
Document Fiscal Year Focus | 2023 | |||
Document Fiscal Period Focus | FY | |||
Amendment Flag | false |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Current assets: | ||
Cash and cash equivalents | $ 6,069 | $ 8,110 |
Other current assets | 446 | 537 |
Total current assets | 6,515 | 8,647 |
Non-current assets: | ||
Mineral properties (Note 3) | 2,146 | 2,146 |
Plant and equipment, net (Note 4) | 204 | 193 |
Other non-current assets | 69 | |
Total non-current assets | 2,419 | 2,339 |
Total assets | 8,934 | 10,986 |
Current liabilities: | ||
Accounts payable | 190 | 169 |
Accrued liabilities and other (Note 5) | 749 | 764 |
Total current liabilities | 939 | 933 |
Non-current liabilities: | ||
Deferred gain on grant of royalty (Note 6) | 3,000 | |
Other liabilities | 44 | 24 |
Total non-current liabilities | 3,044 | 24 |
Total liabilities | 3,983 | 957 |
Commitments and contingencies (Note 8) | ||
Shareholders' equity: | ||
Common shares, no par value - unlimited shares authorized; shares outstanding: 2023 - 121,088,494 and 2022 - 118,480,878 (Note 7) | 476,354 | 474,847 |
Accumulated deficit | (471,403) | (464,818) |
Total shareholders' equity | 4,951 | 10,029 |
Total liabilities and shareholders' equity | $ 8,934 | $ 10,986 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Shareholders' equity: | ||
Common Shares, par value | $ 0 | $ 0 |
Common Stock, Shares Authorized, Unlimited [Fixed List] | Unlimited | Unlimited |
Common shares outstanding | 121,088,494 | 118,480,878 |
CONSOLIDATED STATEMENTS OF INCO
CONSOLIDATED STATEMENTS OF INCOME/(LOSS) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Operating income/(expense): | ||
Gain on disposal of mineral property interests | $ 2,883 | |
Exploration, property evaluation and holding costs | $ (3,262) | (4,522) |
Corporate administration | (3,462) | (3,767) |
Depreciation and amortization | (40) | (45) |
Total operating expense, net | (6,764) | (5,451) |
Non-operating income: | ||
Interest income | 263 | 111 |
Other income/(expense) | (84) | 409 |
Total non-operating income | 179 | 520 |
Loss before income taxes | (6,585) | (4,931) |
Net loss | $ (6,585) | $ (4,931) |
Basic: | ||
Weighted average number of shares outstanding (in shares) | 120,471,317 | 118,005,490 |
Net loss per share | $ (0.05) | $ (0.04) |
Diluted: | ||
Weighted average number of shares outstanding (in shares) | 120,471,317 | 118,005,490 |
Net loss per share | $ (0.05) | $ (0.04) |
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, 2021 | $ 474,181 | $ (459,887) | $ 14,294 |
Balances, beginning of period (in shares) at Dec. 31, 2021 | 117,189,232 | ||
Shares issued, net of offering costs | $ 244 | 244 | |
Shares issued, net of offering costs (in shares) | 401,884 | ||
Shares issued (RSUs vested, net of shares withheld) | $ (357) | (357) | |
Shares issued (RSUs vested, net of shares withheld) (in shares) | 889,762 | ||
Stock-based compensation | $ 779 | 779 | |
Net loss | (4,931) | (4,931) | |
Balances, end of period at Dec. 31, 2022 | $ 474,847 | (464,818) | 10,029 |
Balances, end of period (in shares) at Dec. 31, 2022 | 118,480,878 | ||
Shares issued, net of offering costs | $ 1,013 | 1,013 | |
Shares issued, net of offering costs (in shares) | 1,710,068 | ||
Shares issued (RSUs vested, net of shares withheld) | $ (142) | $ (142) | |
Shares issued (RSUs vested, net of shares withheld) (in shares) | 412,548 | ||
Shares issued (DSUs vested) (in shares) | 485,000 | 485,000 | |
Stock-based compensation | $ 636 | $ 636 | |
Net loss | (6,585) | (6,585) | |
Balances, end of period at Dec. 31, 2023 | $ 476,354 | $ (471,403) | $ 4,951 |
Balances, end of period (in shares) at Dec. 31, 2023 | 121,088,494 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Cash flows from operating activities: | ||
Net loss | $ (6,585) | $ (4,931) |
Adjustments to reconcile net loss to net cash used in operations: | ||
Depreciation and amortization | 40 | 45 |
Stock-based compensation | 636 | 779 |
Gain on disposal of mineral property interests, net | (2,883) | |
Reduction of provision for environmental liability | (240) | |
Change in working capital account items: | ||
Other current assets | 91 | 274 |
Accounts payable, accrued liabilities and other | (43) | (457) |
Net cash used in operating activities | (5,861) | (7,413) |
Cash flows from investing activities: | ||
Maturities of short-term investments, net | 384 | |
Additions to plant and equipment | (51) | (5) |
Proceeds from grant of royalty interest | 3,000 | |
Proceeds from disposition of royalty interest, net | 2,500 | |
Net cash provided by investing activities | 2,949 | 2,879 |
Cash flows from financing activities: | ||
Proceeds from equity financing, net | 1,013 | 244 |
Payment of taxes from withheld shares | (142) | (357) |
Net cash provided by/(used in) financing activities | 871 | (113) |
Net decrease in cash and cash equivalents | (2,041) | (4,647) |
Cash and cash equivalents, beginning of year | 8,110 | 12,757 |
Cash and cash equivalents, end of year | $ 6,069 | $ 8,110 |
Nature of Operations
Nature of Operations | 12 Months Ended |
Dec. 31, 2023 | |
Nature of Operations | |
Nature Of Operations | 1. Nature of Operations Vista Gold Corp. and its subsidiaries operate in the gold mining industry. We are focused on acquisition, exploration and advancement of gold exploration and potential development projects, which may lead to gold production or value-adding strategic transactions such as 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 recurring positive 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. In March 2024, we completed an updated feasibility study for Mt Todd and are evaluating alternative development strategies, including a staged development approach. In March 2022, we appointed CIBC Capital Markets as our strategic advisor, and we are advancing a strategic process to seek a partner or other form of transaction for Mt Todd. References to $ are to United States dollars and A$ are to Australian dollars. |
Significant Accounting Policies
Significant Accounting Policies and Estimates | 12 Months Ended |
Dec. 31, 2023 | |
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 100%-owned subsidiaries, either directly or indirectly through a subsidiary, 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: gain recognition, asset impairments, the fair value and accounting treatment of financial instruments including warrants; 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. 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, 2023 and 2022, 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. After acquisition of a mineral property, associated exploration and evaluation costs are expensed as incurred until mineral reserves Capitalized costs associated with a mineral property will be amortized using the units-of-production method over the estimated life of mineral reserves once sustainable production is achieved. If mineral properties are subsequently sold or abandoned, any unamortized 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 profitable commercial production from, or the sale/lease of, or other strategic transactions related to these properties. Development and/or start-up of mineral properties will depend on, among other things, management’s ability to raise sufficient capital for these purposes. Proceeds received from option or conveyance agreements for unproved properties 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 and substantial obligations of the Company have been met, or the related contract terminates. Gains on disposal and grant of royalty interests are recognized in operating income when the Company has completed its significant obligations. We assess the carrying value of mineral properties for impairment whenever information or circumstances indicate the potential for impairment. 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. Impairment Carrying values of long-lived assets, other than mineral properties, are evaluated for impairment when information becomes available that indicates 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, or, in certain cases, amounts determined by a Brownian motion pricing 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. Accounting for Income Taxes We account for income taxes by recognizing deferred tax assets and liabilities for differences between the financial statement and tax bases of assets and liabilities at enacted tax rates in effect for the year in which the differences are expected to reverse. Changes in enacted tax rates are recognized in the period that includes the enactment date. Valuation allowances are recorded to reduce deferred tax assets to net amounts estimated to be more likely than not of being realized. The Company evaluates its income tax positions and recognizes a liability for uncertain tax positions that are not more likely than not to be sustained by tax authorities. If the Company were to determine that uncertain tax positions meet the criteria for recognition, an estimated liability and related interest and penalties would be recognized as income tax expense. Fair Value of Financial Instruments Our financial instruments include cash and cash equivalents, accounts payable, and certain other current assets and liabilities. Due to the short-term nature of these financial instruments, carrying amounts approximate fair value. Recent Accounting Pronouncements In November 2023, the Financial Accounting Standards Board issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures |
Mineral Properties
Mineral Properties | 12 Months Ended |
Dec. 31, 2023 | |
Mineral Properties | |
Mineral Properties | 3. Mineral Properties Mt Todd, Northern Territory, Australia Capitalized mineral property values were: At December 31, 2023 At December 31, 2022 Mt Todd, Australia $ 2,146 $ 2,146 |
Plant and Equipment
Plant and Equipment | 12 Months Ended |
Dec. 31, 2023 | |
Plant and Equipment | |
Plant and Equipment | 4. Plant and Equipment December 31, 2023 December 31, 2022 Accumulated Accumulated Cost Depreciation Net Cost Depreciation Net Mt Todd, Australia $ 5,415 $ 5,211 $ 204 $ 5,364 $ 5,171 $ 193 Corporate, United States 303 303 — 333 333 — Used mill equipment, Canada — — — — — — $ 5,718 $ 5,514 $ 204 $ 5,697 $ 5,504 $ 193 |
Other Current Liabilities
Other Current Liabilities | 12 Months Ended |
Dec. 31, 2023 | |
Other Current Liabilities | |
Other Current Liabilities | 5. Other Current Liabilities The following table sets forth the Company’s accrued liabilities and other at December 31, 2023 and December 31, 2022: At December 31, 2023 At December 31, 2022 Accrued accounts payable $ 152 $ 112 Accrued employee compensation and benefits 597 652 $ 749 $ 764 |
Deferred Gain on Grant of Royal
Deferred Gain on Grant of Royalty | 12 Months Ended |
Dec. 31, 2023 | |
Deferred Gain on Grant of Royalty | |
Deferred Gain on Grant of Royalty | 6. Deferred Gain on Grant of Royalty On December 13, 2023, Vista Gold Australia Pty. Ltd. (“Vista Gold Australia”), a wholly owned subsidiary of the Company, entered into a Royalty Agreement (the “Royalty Agreement”) with Wheaton Precious Metals (Cayman) Co., an affiliate of Wheaton Precious Metals Corp. (“Wheaton”) in relation to Mt Todd. Pursuant to the terms of the Royalty Agreement, Wheaton agreed to provide Vista with $20,000 of cash to advance Mt Todd and for general corporate purposes, excluding direct expenditures for any project other than Mt Todd. The Royalty is at a rate of 1% of gross revenue from the Project if the completion objectives for the Project are achieved by April 1, 2028. Beginning April 1, 2028, if the completion objectives for the Project are not achieved, the Royalty shall increase annually at a rate of up to 0.13% to a maximum Royalty rate of 2% . Any annual increases beginning April 1, 2028 shall be reduced on a pro rata basis to the extent that Mt Todd has initiated operations but has yet to achieve a completion test at an average daily processing rate of 15,000 tonnes per day. The Royalty rate, the annual increase percentage, and maximum Royalty rate can each be reduced by one-third upon the occurrence of one of the following events: (i) a change of control of Vista Gold Australia occurs prior to April 1, 2028 and Vista Gold Australia provides timely notice and payment to Wheaton of certain amounts; or (ii) payment to Wheaton of the applicable Royalty associated with Vista Gold Australia delivering 3.47 million gold ounces to a third party. The Royalty is payable on production from both the Mt Todd mining and exploration licenses. Wheaton has also been granted a right of first refusal on any royalties, streams or pre-pays pertaining to Mt Todd. The Royalty Agreement provides for Vista Gold Australia to receive a total of $20,000 in three installments. The first installment of $3,000 was received in December 2023. This amount was recorded as a deferred gain on grant of royalty as of December 31, 2023. The second instalment of $7,000 was received from Wheaton after having received approval from the Australian government Foreign Investment Review Board, registration of a secured interest in favor of Wheaton, and satisfaction of other conditions. The secured interest provides for, among other things, a mortgage on the mineral tenements that comprise Mt Todd. The final installment of $10,000 is to be received six months from the date of the first installment provided that Vista Gold Australia has commenced a 6,000 -meter drilling program at Mt Todd and satisfied customary conditions, representations, and warranties. |
Common Shares
Common Shares | 12 Months Ended |
Dec. 31, 2023 | |
Common Shares | |
Common Shares | 7. Common Shares Equity Financing Vista is party to an at-the-market offering agreement (the “ATM Agreement”) with H. C. Wainwright & Co., LLC (“Wainwright”), under which the Company has 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 can be offered in Canada under the ATM Agreement. As of December 31, 2023, $8,702 remained available under the ATM Program. During the year ended December 31, 2023 the Company sold 1,710,068 Common Shares for net proceeds of $1,013 under the ATM Program. During the year ended December 31, 2022 the Company sold 401,884 Common Shares for net proceeds of $244 under the ATM Program. Each sale under the ATM Agreement was made pursuant to an “at the market offering” as defined in Rule 415 under the United States Securities Act of 1933, as amended. Other Share Issuances During the years ended December 31, 2023 and 2022, we issued 412,548 and 889,762 Common Shares, respectively, in connection with vesting of restricted share units (“RSUs”). During the year ended December 31, 2023, we issued 485,000 Common Shares in exchange for deferred share units (“DSUs”) held by directors of the Company who retired in 2023. 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 were issued as part of a July 2021 public offering and are subject to standard anti-dilution provisions. Weighted Weighted Average Average Warrants Exercise Price Remaining Life Outstanding Per Share (Years) As of December 31, 2021 7,408,101 $ 1.25 2.5 As of December 31, 2022 7,408,101 $ 1.25 1.5 As of December 31, 2023 7,408,101 $ 1.25 0.5 Stock-Based Compensation The Company’s stock-based compensation plans include: RSUs currently outstanding under the Company’s long-term equity incentive plan (“LTIP”), DSUs issuable pursuant to the Company’s deferred share unit plan (“DSU Plan”) and stock options (“Stock Options”) issuable under the Company’s stock option plan. Stock-based compensation may be issued to our directors, officers, employees and consultants. The maximum number of Common Shares that may be reserved for issuance under the combined stock-based compensation plans is a variable number equal to 10% of the issued and outstanding Common Shares on a non-diluted basis at any one time. Stock-based compensation may be granted from time to time at the discretion of the Board of Directors of the Company (the “Board of Directors”), with vesting provisions as determined by the Board of Directors. Stock-based compensation expense for the years ended December 31, 2023 and 2022 was: Year Ended December 31, 2023 2022 RSUs $ 392 $ 507 DSUs 244 272 $ 636 $ 779 As of December 31, 2023, unrecognized compensation expense for RSUs was $293 , 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, 2021 1,998,339 $ 0.53 Granted 759,000 0.59 Cancelled/forfeited (395,569) 0.51 Vested, net of shares withheld (889,762) 0.49 Unvested - December 31, 2022 1,472,008 $ 0.60 Granted 1,163,000 0.37 Cancelled/forfeited (335,786) 0.58 Vested, net of shares withheld (412,548) 0.60 Unvested - December 31, 2023 1,886,674 $ 0.46 During the years ended December 31, 2023 and 2022, 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 33% will vest based on fixed future dates, and approximately 67% will vest on share-price criteria. 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. During the year ended December 31, 2023, the Board of Directors granted 420,000 DSUs and the Company recognized $244 of DSU expense. During the year ended December 31, 2022, the Board of Directors granted 324,000 DSUs and the Company recognized $272 of DSU expense. The following table summarizes DSU activity: Weighted Average Number of Grant-Date Fair DSUs Value per DSU Outstanding - December 31, 2021 930,000 $ 0.68 Granted 324,000 0.84 Outstanding - December 31, 2022 1,254,000 $ 0.72 Granted 420,000 0.58 Shares issued to participants (485,000) 0.69 Outstanding - December 31, 2023 1,189,000 $ 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, 2021 1,367,000 $ 0.71 1.64 $ 38 Outstanding - December 31, 2022 1,367,000 $ 0.71 0.64 $ — Expired (967,000) 0.71 Outstanding - December 31, 2023 400,000 $ 0.70 0.47 $ — Exercisable - December 31, 2023 400,000 $ 0.70 0.47 $ — Weighted Average Common Shares At December 31, 2023 2022 Basic Common Shares 120,471,317 118,005,490 Effect of dilutive stock-based awards — — Diluted Common Shares 120,471,317 118,005,490 Unvested RSUs representing 1,886,674 Common Shares, Stock Options to purchase 400,000 Common Shares, warrants to purchase 7,408,101 Common Shares, and vested DSUs representing 1,189,000 unissued Common Shares were outstanding at December 31, 2023 but were not included in the computation of diluted weighted average Common Shares outstanding because their effect would have been anti-dilutive. |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2023 | |
Commitments and Contingencies | |
Commitments and Contingencies | 8. Commitments and Contingencies The Mt Todd site was not reclaimed by the predecessor owners when the mine closed in 2000. Reclamation obligations associated with this period and prior to Vista’s acquisition in 2006 are presently the responsibility of the Government of the Northern Territory, Australia (the “NT Government”). At such time as we provide notice to the NT Government that we intend to proceed with development, the Company will then assume these historical rehabilitation liabilities currently stated by the NT Government at A$73 million. Under an agreement with the Jawoyn Association Aboriginal Corporation with respect to Mt Todd, we have agreed to a gross proceeds royalty (“GPR”) ranging between 0.125% and 2.0%, depending on prevailing gold prices and foreign exchange rates, and a 1.0% GPR not tied to gold price or foreign exchange rates. The combined GPR range is 1.125% to 3.0%. Mt Todd is also subject to the Royalty Agreement with Wheaton; see Note 6. 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. Future expenditures that may be required for compliance with these laws and regulations cannot be predicted. If the Company determines that it is probable that an obligation exists and the amount can be reasonably estimated, a provision for environmental liability would be recorded. This may include reclamation costs attributable to mining claims previously held by the Company should no other responsible or potentially responsible parties be identified. We conduct our operations in a manner designed to minimize effects on the environment and believe our operations comply with applicable laws and regulations in all material respects. During 2022, the Company reviewed the provision for environmental liability for a previously held non-core property and the associated contingent liability and determined that the reclamation costs were neither probable nor could be reasonably estimated. The Company reversed its provision for environmental liability, which resulted in a $240 gain in other income/(loss). |
Supplemental Cash Flow Informat
Supplemental Cash Flow Information and Material Non-Cash Transactions | 12 Months Ended |
Dec. 31, 2023 | |
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, 2023 and 2022, all 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, 2023 and 2022. |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2023 | |
Income Taxes | |
Income Taxes | 10. Income Taxes The Company’s U.S. and foreign source income/(loss) were: Years Ended December 31, 2023 2022 U.S. $ (154) $ (95) Canada (3,097) (272) Other foreign, net (3,334) (4,564) $ (6,585) $ (4,931) During the years ended December 31, 2023 and 2022, 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, 2023 2022 Income taxed at statutory rates $ (1,383) $ (1,035) Increase (decrease) in taxes from: State Tax 5 (2) Stock-based compensation 117 120 Meals and Entertainment 1 1 Imputed interest 60 16 Other adjustments (7) (16) Expiring NOLs 137 504 Inflation adjustment — — Prior year provision to actual adjustments 580 472 Change in U.S. tax rate — 5 Differentials in foreign tax rates (484) (426) Changes in foreign exchange rates (77) 1,421 Changes in valuation allowances affecting income tax expense or benefit 1,051 (1,060) Income tax (benefit)/expense $ — $ — 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, 2023 2022 Deferred income tax assets Excess tax basis over book basis of property, plant and equipment $ 7,225 $ 7,225 Operating loss carryforwards 40,817 39,709 Capital loss carryforwards 14,394 14,394 Capital expenditures 366 374 Stock compensation 54 55 VAT recoverable 176 152 Unrealized foreign exchange gain/loss 7 — Offering costs 157 229 Accrued vacation 22 29 Other — — Total future tax assets 63,218 62,167 Valuation allowance for future tax assets (63,218) (62,167) — — Deferred income tax liabilities Other investments — — — — 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 $63,218 and $62,167 at December 31, 2023 and 2022, 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 2024 — — — 6 6 2025 — — 97 6 103 2026 1,027 — 995 5 2,027 2027 847 — — 7 854 2028 5,245 — — 7 5,252 2029 4,022 — — 2 4,024 2030 5,032 1,648 — 12 6,692 2031 3,806 3,407 87 — 7,300 2032 6,397 2,323 60 — 8,780 2033 6,185 3,098 56 — 9,339 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 3,195 — — — 3,195 2042 734 — — — 734 2043 2,964 — — — 2,964 $ 61,151 $ 15,615 $ 1,295 $ 45 $ 78,106 U.S. loss carryforwards for tax years beginning in 2018 through 2022 of $2,372, Canadian capital loss carryforwards of $106,623 and Australian net operating losses of $66,759, which do not expire, are not included in the previous table. 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, 2019 or U.S. federal income tax examinations by the Internal Revenue Service for years ended on or before December 31, 2019. Some U.S. state and other foreign jurisdictions are still subject to tax examination for years ended on or before December 31, 2018. 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, 2023 | |
Geographic and Segment Information | |
Geographic And Segment Information | 11. Geographic and Segment Information The Company has one reportable operating segment, consisting of advancement and development of Mt Todd, 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, 2023 or 2022. Geographic location of mineral properties and plant and equipment is provided in Notes 3 and 4, respectively. |
Subsequent Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2023 | |
Subsequent Events | |
Subsequent Events | 12. Subsequent Events On February 27, 2024, the Company received the second instalment of $7,000 from Wheaton under the Royalty Agreement after having received approval from the Australian government Foreign Investment Review Board, registration of a secured interest in favor of Wheaton, and satisfaction of other conditions. The secured interest provides for, among other things, a mortgage on the mineral tenements that comprise Mt Todd. |
Significant Accounting Polici_2
Significant Accounting Policies and Estimates (Policies) | 12 Months Ended |
Dec. 31, 2023 | |
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 100%-owned subsidiaries, either directly or indirectly through a subsidiary, 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: gain recognition, asset impairments, the fair value and accounting treatment of financial instruments including warrants; 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. |
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, 2023 and 2022, 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. After acquisition of a mineral property, associated exploration and evaluation costs are expensed as incurred until mineral reserves Capitalized costs associated with a mineral property will be amortized using the units-of-production method over the estimated life of mineral reserves once sustainable production is achieved. If mineral properties are subsequently sold or abandoned, any unamortized 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 profitable commercial production from, or the sale/lease of, or other strategic transactions related to these properties. Development and/or start-up of mineral properties will depend on, among other things, management’s ability to raise sufficient capital for these purposes. Proceeds received from option or conveyance agreements for unproved properties 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 and substantial obligations of the Company have been met, or the related contract terminates. Gains on disposal and grant of royalty interests are recognized in operating income when the Company has completed its significant obligations. We assess the carrying value of mineral properties for impairment whenever information or circumstances indicate the potential for impairment. 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. |
Impairment | Impairment Carrying values of long-lived assets, other than mineral properties, are evaluated for impairment when information becomes available that indicates 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, or, in certain cases, amounts determined by a Brownian motion pricing 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. |
Accounting for Income Taxes | Accounting for Income Taxes We account for income taxes by recognizing deferred tax assets and liabilities for differences between the financial statement and tax bases of assets and liabilities at enacted tax rates in effect for the year in which the differences are expected to reverse. Changes in enacted tax rates are recognized in the period that includes the enactment date. Valuation allowances are recorded to reduce deferred tax assets to net amounts estimated to be more likely than not of being realized. The Company evaluates its income tax positions and recognizes a liability for uncertain tax positions that are not more likely than not to be sustained by tax authorities. If the Company were to determine that uncertain tax positions meet the criteria for recognition, an estimated liability and related interest and penalties would be recognized as income tax expense. |
Fair Value of Financial Instruments | Fair Value of Financial Instruments Our financial instruments include cash and cash equivalents, accounts payable, and certain other current assets and liabilities. Due to the short-term nature of these financial instruments, carrying amounts approximate fair value. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements In November 2023, the Financial Accounting Standards Board issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures |
Mineral Properties (Tables)
Mineral Properties (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Mineral Properties | |
Schedule of Mineral Properties | At December 31, 2023 At December 31, 2022 Mt Todd, Australia $ 2,146 $ 2,146 |
Plant and Equipment (Tables)
Plant and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Plant and Equipment | |
Schedule Of Plant And Equipment | December 31, 2023 December 31, 2022 Accumulated Accumulated Cost Depreciation Net Cost Depreciation Net Mt Todd, Australia $ 5,415 $ 5,211 $ 204 $ 5,364 $ 5,171 $ 193 Corporate, United States 303 303 — 333 333 — Used mill equipment, Canada — — — — — — $ 5,718 $ 5,514 $ 204 $ 5,697 $ 5,504 $ 193 |
Other Current Liabilities (Tabl
Other Current Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Other Current Liabilities | |
Schedule of accrued liabilities | At December 31, 2023 At December 31, 2022 Accrued accounts payable $ 152 $ 112 Accrued employee compensation and benefits 597 652 $ 749 $ 764 |
Common Shares (Tables)
Common Shares (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Common Shares | |
Summary of outstanding warrants | Weighted Weighted Average Average Warrants Exercise Price Remaining Life Outstanding Per Share (Years) As of December 31, 2021 7,408,101 $ 1.25 2.5 As of December 31, 2022 7,408,101 $ 1.25 1.5 As of December 31, 2023 7,408,101 $ 1.25 0.5 |
Summary of stock-based compensation expense | Year Ended December 31, 2023 2022 RSUs $ 392 $ 507 DSUs 244 272 $ 636 $ 779 |
Summary of restricted stock unit activity | Weighted Average Number Grant-Date Fair of RSUs Value Per RSU Unvested - December 31, 2021 1,998,339 $ 0.53 Granted 759,000 0.59 Cancelled/forfeited (395,569) 0.51 Vested, net of shares withheld (889,762) 0.49 Unvested - December 31, 2022 1,472,008 $ 0.60 Granted 1,163,000 0.37 Cancelled/forfeited (335,786) 0.58 Vested, net of shares withheld (412,548) 0.60 Unvested - December 31, 2023 1,886,674 $ 0.46 |
Summary of deferred stock units | Weighted Average Number of Grant-Date Fair DSUs Value per DSU Outstanding - December 31, 2021 930,000 $ 0.68 Granted 324,000 0.84 Outstanding - December 31, 2022 1,254,000 $ 0.72 Granted 420,000 0.58 Shares issued to participants (485,000) 0.69 Outstanding - December 31, 2023 1,189,000 $ 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, 2021 1,367,000 $ 0.71 1.64 $ 38 Outstanding - December 31, 2022 1,367,000 $ 0.71 0.64 $ — Expired (967,000) 0.71 Outstanding - December 31, 2023 400,000 $ 0.70 0.47 $ — Exercisable - December 31, 2023 400,000 $ 0.70 0.47 $ — |
Schedule of weighted average common shares | At December 31, 2023 2022 Basic Common Shares 120,471,317 118,005,490 Effect of dilutive stock-based awards — — Diluted Common Shares 120,471,317 118,005,490 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Income Taxes | |
Schedule of income/(loss) before income tax, domestic and foreign | Years Ended December 31, 2023 2022 U.S. $ (154) $ (95) Canada (3,097) (272) Other foreign, net (3,334) (4,564) $ (6,585) $ (4,931) |
Schedule of effective income tax rate reconciliation | Years Ended December 31, 2023 2022 Income taxed at statutory rates $ (1,383) $ (1,035) Increase (decrease) in taxes from: State Tax 5 (2) Stock-based compensation 117 120 Meals and Entertainment 1 1 Imputed interest 60 16 Other adjustments (7) (16) Expiring NOLs 137 504 Inflation adjustment — — Prior year provision to actual adjustments 580 472 Change in U.S. tax rate — 5 Differentials in foreign tax rates (484) (426) Changes in foreign exchange rates (77) 1,421 Changes in valuation allowances affecting income tax expense or benefit 1,051 (1,060) Income tax (benefit)/expense $ — $ — |
Schedule of deferred tax assets and liabilities | December 31, 2023 2022 Deferred income tax assets Excess tax basis over book basis of property, plant and equipment $ 7,225 $ 7,225 Operating loss carryforwards 40,817 39,709 Capital loss carryforwards 14,394 14,394 Capital expenditures 366 374 Stock compensation 54 55 VAT recoverable 176 152 Unrealized foreign exchange gain/loss 7 — Offering costs 157 229 Accrued vacation 22 29 Other — — Total future tax assets 63,218 62,167 Valuation allowance for future tax assets (63,218) (62,167) — — Deferred income tax liabilities Other investments — — — — Total Deferred Taxes $ — $ — |
Summary of expiring loss carryforwards | The Company’s tax loss carryforwards expire as follows: Noncapital Canada U.S. Mexico Barbados Total 2024 — — — 6 6 2025 — — 97 6 103 2026 1,027 — 995 5 2,027 2027 847 — — 7 854 2028 5,245 — — 7 5,252 2029 4,022 — — 2 4,024 2030 5,032 1,648 — 12 6,692 2031 3,806 3,407 87 — 7,300 2032 6,397 2,323 60 — 8,780 2033 6,185 3,098 56 — 9,339 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 3,195 — — — 3,195 2042 734 — — — 734 2043 2,964 — — — 2,964 $ 61,151 $ 15,615 $ 1,295 $ 45 $ 78,106 |
Nature of Operations (Details)
Nature of Operations (Details) | 12 Months Ended |
Dec. 31, 2023 | |
Mt Todd, Australia | |
Property, Plant and Equipment [Line Items] | |
Percentage of ownership in project | 100% |
Significant Accounting Polici_3
Significant Accounting Policies and Estimates (Details) | 12 Months Ended |
Dec. 31, 2023 segment | |
Significant Accounting Policies and Estimates | |
Number of reportable segments | 1 |
Mineral Properties - Mt. Todd,
Mineral Properties - Mt. Todd, Northern Territory, Australia (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
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 |
Plant and Equipment (Details)
Plant and Equipment (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Property, Plant and Equipment [Line Items] | ||
Cost | $ 5,718 | $ 5,697 |
Accumulated depreciation | 5,514 | 5,504 |
Net | 204 | 193 |
Mt Todd, Australia | ||
Property, Plant and Equipment [Line Items] | ||
Cost | 5,415 | 5,364 |
Accumulated depreciation | 5,211 | 5,171 |
Net | 204 | 193 |
Corporate, United States | ||
Property, Plant and Equipment [Line Items] | ||
Cost | 303 | 333 |
Accumulated depreciation | 303 | 333 |
Net | 0 | 0 |
Used mill equipment, Canada | ||
Property, Plant and Equipment [Line Items] | ||
Cost | 0 | 0 |
Accumulated depreciation | 0 | 0 |
Net | $ 0 | $ 0 |
Other Current Liabilities - Acc
Other Current Liabilities - Accrued Liabilities and Other (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Other Current Liabilities | ||
Accrued accounts payable | $ 152 | $ 112 |
Accrued employee compensation and benefits | 597 | 652 |
Accrued Liabilities, Current, Total | $ 749 | $ 764 |
Deferred Gain on Grant of Roy_2
Deferred Gain on Grant of Royalty (Details) - Vista Australia - Wheaton - Mt Todd oz in Thousands | 1 Months Ended | ||
Dec. 13, 2023 USD ($) installment oz t | Dec. 31, 2023 USD ($) | Feb. 27, 2024 USD ($) | |
Deferred Gain on Grant of Royalty [Line Items] | |||
Cash advance | $ 20,000,000 | ||
Royalty rate | 1% | ||
Increase in royalty rate per annum | 0.13% | ||
Threshold limit of average daily processing rate per day | t | 15,000 | ||
Reduction in royalty rate upon occurrence of events | 33.33% | ||
Royalty Agreement Deliverable Benchmark, Commodity Amount | oz | 3,470 | ||
Consideration eligible to receive | $ 20,000,000 | ||
Number of installments for consideration | installment | 3 | ||
First installment amount received | $ 3,000,000 | ||
Period considered for third installment from the date of first installment | 6 months | ||
Size of drilling program | 6,000 | ||
Subsequent Event [Member] | |||
Deferred Gain on Grant of Royalty [Line Items] | |||
Second installment amount | $ 7,000,000 | ||
Scenario, Plan | |||
Deferred Gain on Grant of Royalty [Line Items] | |||
Third installment amount | $ 10,000 | ||
Maximum | |||
Deferred Gain on Grant of Royalty [Line Items] | |||
Royalty rate | 2% |
Common Shares - Equity Financin
Common Shares - Equity Financings (Details) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 USD ($) security shares | Dec. 31, 2022 USD ($) shares | |
Subsidiary, Sale of Stock [Line Items] | ||
Proceeds from issuance of common shares | $ 1,013 | $ 244 |
At-The-Market Offering Agreement [Member] | H. C. Wainwright And Co., LLC [Member] | ||
Subsidiary, Sale of Stock [Line Items] | ||
Number of shares issued | shares | 1,710,068 | 401,884 |
Proceeds from issuance of common shares | $ 1,013 | $ 244 |
Threshold of aggregate sales proceeds | 10,000 | |
Remaining threshold of aggregate sales proceeds | $ 8,702 | |
Offers or sales of common shares under Agreement to be made in Canada | security | 0 |
Common Shares - Share Issuances
Common Shares - Share Issuances (Details) - shares | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Common Shares | ||
Shares issued (RSUs vested and options (in shares) | 412,548 | 889,762 |
Shares issued (DSUs vested) (in shares) | 485,000 |
Common Shares - Warrants (Detai
Common Shares - Warrants (Details) - Warrants [Member] - $ / shares | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Class of Warrant or Right [Line Items] | |||
Warrants outstanding, beginning of period (in shares) | 7,408,101 | 7,408,101 | |
Warrants outstanding, end of period (in shares) | 7,408,101 | 7,408,101 | 7,408,101 |
Weighted average exercise price per share, Beginning of the period | $ 1.25 | $ 1.25 | |
Weighted average exercise price per share, End of the period | $ 1.25 | $ 1.25 | $ 1.25 |
Weighted average remaining life, warrants outstanding | 6 months | 1 year 6 months | 2 years 6 months |
Common Shares - Stock-Based Com
Common Shares - Stock-Based Compensation (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Percentage of issued and outstanding Common Shares | 10% | |
Stock-based compensation expense | $ 636 | $ 779 |
Restricted Stock Units (RSUs) [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Stock-based compensation expense | 392 | 507 |
Deferred Stock Units (DSU) [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Stock-based compensation expense | $ 244 | $ 272 |
Common Shares - Unrecognized Co
Common Shares - Unrecognized Compensation (Details) - Restricted Stock Units (RSUs) [Member] $ in Thousands | 12 Months Ended |
Dec. 31, 2023 USD ($) | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Unrecognized compensation expense related to unvested awards | $ 293 |
Weighted average unrecognized compensation recognition period | 1 year 2 months 12 days |
Common Shares - Summary Of Rest
Common Shares - Summary Of Restricted Stock Units Activity (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Payment of taxes from withheld shares | $ 142 | $ 357 |
Restricted Stock Units (RSUs) [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Unvested, Number of units, beginning of period (in shares) | 1,472,008 | 1,998,339 |
Granted, Number of units (in shares) | 1,163,000 | 759,000 |
Cancelled/forfeited, Number of units (in shares) | (335,786) | (395,569) |
Vested, net of shares withheld, Number of units (in shares) | (412,548) | (889,762) |
Unvested, Number of units, end of period (in shares) | 1,886,674 | 1,472,008 |
Outstanding, weighted average fair value, beginning of period (in dollars per share) | $ 0.60 | $ 0.53 |
Granted, Weighted average fair value (in dollars per share) | 0.37 | 0.59 |
Cancelled/forfeited, Weighted average fair value (in dollars per share) | 0.58 | 0.51 |
Vested, net of shares withheld, Weighted average fair value (in dollars per share) | 0.60 | 0.49 |
Unvested, weighted average fair value, end of period (in dollars per share) | $ 0.46 | $ 0.60 |
Restricted Stock Units (RSUs) [Member] | Fixed future date | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Vesting (as a percent) | 33% | |
Restricted Stock Units (RSUs) [Member] | Market criteria | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Vesting (as a percent) | 67% | |
Restricted Stock Units (RSUs) [Member] | 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 | 12 Months Ended | |
Dec. 31, 2023 USD ($) $ / shares shares | Dec. 31, 2022 USD ($) $ / shares shares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Allocated Share-based Compensation Expense | $ | $ 636 | $ 779 |
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 | 1,254,000 | 930,000 |
Granted, Number of units (in shares) | shares | 420,000 | 324,000 |
Shares issued to participants | shares | (485,000) | |
Unvested, Number of units, end of period (in shares) | shares | 1,189,000 | 1,254,000 |
Outstanding, weighted average fair value, beginning of period (in dollars per share) | $ / shares | $ 0.72 | $ 0.68 |
Granted, Weighted average fair value (in dollars per share) | $ / shares | 0.58 | 0.84 |
Shares issued to participants, Weighted average grant-date fair value (in dollars per share) | $ / shares | 0.69 | |
Unvested, weighted average fair value, end of period (in dollars per share) | $ / shares | $ 0.68 | $ 0.72 |
Allocated Share-based Compensation Expense | $ | $ 244 | $ 272 |
Common Shares - Summary Of Opti
Common Shares - Summary Of Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Common Shares | |||
Number of options, beginning of period (in shares) | 1,367,000 | 1,367,000 | |
Number of options, Expired (in shares) | (967,000) | ||
Number of options, end of period (in shares) | 400,000 | 1,367,000 | 1,367,000 |
Number of options, Exercisable (in shares) | 400,000 | ||
Weighted average exercise price per option, beginning of period (in dollars per share) | $ 0.71 | $ 0.71 | |
Weighted average exercise price per option, Expired (in dollars per share) | 0.71 | ||
Weighted average exercise price per option, end of period (in dollars per share) | 0.70 | $ 0.71 | $ 0.71 |
Weighted average exercise price, Exercisable (in dollars per share) | $ 0.70 | ||
Weighted average remaining contractual term, Outstanding | 5 months 19 days | 7 months 20 days | 1 year 7 months 20 days |
Weighted average remaining contractual term, Exercisable | 5 months 19 days | ||
Aggregate intrinsic value, Outstanding, beginning of period (in dollars) | $ 38 | ||
Aggregate intrinsic value, Outstanding, end of period (in dollars) | $ 38 |
Common Shares - Weighted Averag
Common Shares - Weighted Average (Details) - shares | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Common Shares | ||
Basic Common Shares | 120,471,317 | 118,005,490 |
Effect of dilutive stock-based awards | 0 | 0 |
Diluted Common Shares | 120,471,317 | 118,005,490 |
Common Shares - Anti-dilutive (
Common Shares - Anti-dilutive (Details) | 12 Months Ended |
Dec. 31, 2023 shares | |
Stock Options [Member] | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |
Anti-dilutive shares outstanding | 400,000 |
Restricted Stock Units (RSUs) [Member] | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |
Anti-dilutive shares outstanding | 1,886,674 |
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 | 1,189,000 |
Commitments and Contingencies (
Commitments and Contingencies (Details) - 12 months ended Dec. 31, 2023 $ in Thousands, $ in Millions | USD ($) | AUD ($) |
Loss Contingencies [Line Items] | ||
Accrual for Environmental Loss Contingencies, Revision in Estimates | $ 240 | |
Mt Todd, Australia | Scenario, Plan | ||
Loss Contingencies [Line Items] | ||
Mine Reclamation and Closing Liability, Noncurrent | $ 73 | |
Mt Todd, Australia | Scenario, Plan | Jawoyn Association Aboriginal Corporation | ||
Loss Contingencies [Line Items] | ||
Percentage of royalty on gold | 1% | |
Mt Todd, Australia | 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% | |
Mt Todd, Australia | Scenario, Plan | Maximum | Jawoyn Association Aboriginal Corporation | ||
Loss Contingencies [Line Items] | ||
Gross Proceeds Royalty, Additional Contingent Gross Proceeds Royalty, Percent | 2% | |
Gross Proceeds Royalty, Including Contingent Additional Gross Proceeds Royalty, Percent | 3% |
Income Taxes - Source of Income
Income Taxes - Source of Income (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Loss before income taxes | $ (6,585) | $ (4,931) |
U.S. | ||
Income (loss) before income taxes, domestic | (154) | (95) |
Canada | ||
Income (loss) before income taxes, foreign | (3,097) | (272) |
Other Foreign | ||
Income (loss) before income taxes, foreign | $ (3,334) | $ (4,564) |
Income Taxes - Deferred Tax Exp
Income Taxes - Deferred Tax Expense (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
U.S. | ||
Current income tax expense (benefit) | ||
Deferred income tax expense (benefit) | ||
Canada | ||
Current income tax expense (benefit) | ||
Deferred income tax expense (benefit) | ||
Other Foreign | ||
Current income tax expense (benefit) | ||
Deferred income tax expense (benefit) |
Income Taxes - Rate Reconciliat
Income Taxes - Rate Reconciliation (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Effective Income Tax Rate Reconciliation, Percent [Abstract] | ||
Income taxed at statutory rates | $ (1,383) | $ (1,035) |
State Tax | 5 | (2) |
Stock-based compensation | 117 | 120 |
Meals and Entertainment | 1 | 1 |
Imputed interest | 60 | 16 |
Other adjustments | (7) | (16) |
Expiration of NOLs | 137 | 504 |
Inflation adjustment | 0 | 0 |
Prior year provision to actual adjustments | 580 | 472 |
Change in U.S. tax rate | 0 | 5 |
Differentials in foreign tax rates | (484) | (426) |
Changes in foreign exchange rates | (77) | 1,421 |
Changes in valuation allowances affecting income tax expense or benefit | 1,051 | (1,060) |
Income tax (benefit)/expense | $ 0 | $ 0 |
Income Taxes - Deferred Tax Ass
Income Taxes - Deferred Tax Assets Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Components of Deferred Tax Assets and Liabilities [Abstract] | ||
Excess tax basis over book basis of property, plant, and equipment | $ 7,225 | $ 7,225 |
Operating loss carryforwards | 40,817 | 39,709 |
Capital loss carryforwards | 14,394 | 14,394 |
Capital expenditures | 366 | 374 |
Stock compensation | 54 | 55 |
VAT recoverable | 176 | 152 |
Unrealized foreign exchange gain/loss | 7 | 0 |
Offering costs | 157 | 229 |
Accrued vacation | 22 | 29 |
Other | 0 | 0 |
Total future tax assets | 63,218 | 62,167 |
Valuation allowance for future tax assets | (63,218) | (62,167) |
Total income tax assets | 0 | 0 |
Other investments | 0 | 0 |
Total deferred income tax liabilities | 0 | 0 |
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, 2023 | Dec. 31, 2018 | |
Operating Loss Carryforwards [Line Items] | ||
Total | $ 78,106 | |
Canada | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring noncapital loss carryforwards | 61,151 | |
Capital loss carryforwards | $ 106,623 | |
U.S. | ||
Operating Loss Carryforwards [Line Items] | ||
Operating loss carryforwards | 2,372 | |
Expiring net operating loss carryforwards | 15,615 | |
Mexico | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring net operating loss carryforwards | 1,295 | |
Barbados | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring net operating loss carryforwards | 45 | |
Australia | ||
Operating Loss Carryforwards [Line Items] | ||
Operating loss carryforwards | $ 66,759 | |
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 | 103 | |
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 | 97 | |
Tax Year 2025 | Barbados | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring net operating loss carryforwards | 6 | |
Tax Year 2026 | ||
Operating Loss Carryforwards [Line Items] | ||
Total | 2,027 | |
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 | 995 | |
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 | 4,024 | |
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 | 2 | |
Tax Year 2030 | ||
Operating Loss Carryforwards [Line Items] | ||
Total | 6,692 | |
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 | 1,648 | |
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 | 12 | |
Tax Year 2031 | ||
Operating Loss Carryforwards [Line Items] | ||
Total | 7,300 | |
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 | 87 | |
Tax Year 2031 | Barbados | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring net operating loss carryforwards | 0 | |
Tax Year 2032 | ||
Operating Loss Carryforwards [Line Items] | ||
Total | 8,780 | |
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 | 60 | |
Tax Year 2032 | Barbados | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring net operating loss carryforwards | 0 | |
Tax Year 2033 | ||
Operating Loss Carryforwards [Line Items] | ||
Total | 9,339 | |
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 | 56 | |
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 | 3,195 | |
Tax Year 2041 | Canada | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring noncapital loss carryforwards | 3,195 | |
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 | |
Tax Year 2042 | ||
Operating Loss Carryforwards [Line Items] | ||
Total | 734 | |
Tax Year 2042 | Canada | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring noncapital loss carryforwards | 734 | |
Tax Year 2042 | U.S. | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring net operating loss carryforwards | 0 | |
Tax Year 2042 | Mexico | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring net operating loss carryforwards | 0 | |
Tax Year 2042 | Barbados | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring net operating loss carryforwards | 0 | |
Tax Year 2043 | ||
Operating Loss Carryforwards [Line Items] | ||
Total | 2,964 | |
Tax Year 2043 | Canada | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring noncapital loss carryforwards | 2,964 | |
Tax Year 2043 | U.S. | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring net operating loss carryforwards | 0 | |
Tax Year 2043 | Mexico | ||
Operating Loss Carryforwards [Line Items] | ||
Expiring net operating loss carryforwards | 0 | |
Tax Year 2043 | 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, 2023 USD ($) segment | Dec. 31, 2022 USD ($) | |
Geographic and Segment Information | ||
Number of reportable segments | segment | 1 | |
Revenues | $ | $ 0 | $ 0 |
Subsequent Events (Details)
Subsequent Events (Details) $ in Thousands | Feb. 27, 2024 USD ($) |
Subsequent Event [Member] | Vista Australia | Wheaton | Mt Todd | |
Subsequent Event [Line Items] | |
Second installment amount | $ 7,000 |
Pay vs Performance Disclosure
Pay vs Performance Disclosure - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Pay vs Performance Disclosure | ||
Net Income (Loss) | $ (6,585) | $ (4,931) |
Insider Trading Arrangements
Insider Trading Arrangements | 12 Months Ended |
Dec. 31, 2023 | |
Trading Arrangements, by Individual | |
Rule 10b5-1 Arrangement Adopted | false |
Non-Rule 10b5-1 Arrangement Adopted | false |
Rule 10b5-1 Arrangement Terminated | false |
Non-Rule 10b5-1 Arrangement Terminated | false |