Vista Gold (VGZ) 10-Q 2 May 24 2024 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2024	Apr. 24, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2024
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 Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		121,754,045
Entity Central Index Key	0000783324
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 11,913	$ 6,069
Other current assets	455	446
Total current assets	12,368	6,515
Non-current assets:
Mineral properties (Note 3)	2,650	2,146
Plant and equipment, net (Note 4)	243	204
Other non-current assets	69	69
Total non-current assets	2,962	2,419
Total assets	15,330	8,934
Current liabilities:
Accounts payable	354	190
Accrued liabilities and other (Note 5)	814	749
Total current liabilities	1,168	939
Non-current liabilities:
Deferred gain on grant of royalty (Note 6)	10,000	3,000
Other liabilities	25	44
Total non-current liabilities	10,025	3,044
Total liabilities	11,193	3,983
Commitments and contingencies (Note 8)
Shareholders' equity:
Common shares, no par value - unlimited shares authorized; shares outstanding: 2024 - 121,634,045 and 2023 - 121,088,494 (Note 7)	476,613	476,354
Accumulated deficit	(472,476)	(471,403)
Total shareholders' equity	4,137	4,951
Total liabilities and shareholders' equity	$ 15,330	$ 8,934

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	3 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Shareholders' equity:
Common Shares, par value	$ 0	$ 0
Common Stock, Shares Authorized, Unlimited [Fixed List]	Unlimited	Unlimited
Common shares outstanding	121,634,045	121,088,494

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME/(LOSS) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Operating income/(expense):
Exploration, property evaluation and holding costs	$ (765)	$ (804)
Corporate administration	(1,243)	(1,168)
Depreciation and amortization	(12)	(10)
Gain on sale of plant and equipment, net (Note 4)	802
Total operating income/(expense), net	(1,218)	(1,982)
Non-operating income:
Interest income	103	69
Other income/(expense)	42	(58)
Total non-operating income	145	11
Loss before income taxes	(1,073)	(1,971)
Net loss	$ (1,073)	$ (1,971)
Basic:
Weighted average number of shares outstanding (in shares)	121,217,992	119,041,318
Net loss per share	$ (0.01)	$ (0.02)
Diluted:
Weighted average number of shares outstanding (in shares)	121,217,992	119,041,318
Net loss per share	$ (0.01)	$ (0.02)

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Common Stock [Member]	Accumulated Deficit [Member]	Total
Balances, beginning of period at Dec. 31, 2022	$ 474,847	$ (464,818)	$ 10,029
Balances, beginning of period (in shares) at Dec. 31, 2022	118,480,878
Shares issued, net of offering costs	$ 453		453
Shares issued, net of offering costs (in shares)	834,146
Shares issued (RSUs vested, net of shares withheld)	$ (142)		(142)
Shares issued (RSUs vested, net of shares withheld) (in shares)	412,548
Stock-based compensation	$ 179		179
Net loss		(1,971)	(1,971)
Balances, end of period at Mar. 31, 2023	$ 475,337	(466,789)	8,548
Balances, end of period (in shares) at Mar. 31, 2023	119,727,572
Balances, beginning of period at Dec. 31, 2023	$ 476,354	(471,403)	4,951
Balances, beginning of period (in shares) at Dec. 31, 2023	121,088,494
Shares issued, net of offering costs	$ 53		53
Shares issued, net of offering costs (in shares)	100,000
Shares issued (RSUs vested, net of shares withheld)	$ (85)		(85)
Shares issued (RSUs vested, net of shares withheld) (in shares)	445,551
Stock-based compensation	$ 291		291
Net loss		(1,073)	(1,073)
Balances, end of period at Mar. 31, 2024	$ 476,613	$ (472,476)	$ 4,137
Balances, end of period (in shares) at Mar. 31, 2024	121,634,045

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cash flows from operating activities:
Net loss	$ (1,073)	$ (1,971)
Adjustments to reconcile net loss to net cash used in operations:
Depreciation and amortization	12	10
Stock-based compensation	291	179
Gain on sale of plant and equipment	(900)
Change in working capital account items:
Other current assets	44	91
Accounts payable, accrued liabilities and other	210	(85)
Net cash used in operating activities	(1,416)	(1,776)
Cash flows from investing activities:
Proceeds from grant of royalty interest	7,000
Proceeds from sale of plant and equipment	900
Additions to plant and equipment	(51)
Capitalized mineral property development costs	(504)
Net cash provided by investing activities	7,345
Cash flows from financing activities:
Proceeds from equity financing, net		453
Payment of taxes from withheld shares	(85)	(142)
Net cash provided by/(used in) financing activities	(85)	311
Net increase/(decrease) in cash and cash equivalents	5,844	(1,465)
Cash and cash equivalents, beginning of period	6,069	8,110
Cash and cash equivalents, end of period	$ 11,913	$ 6,645

Overview of Operations and Basi

Overview of Operations and Basis of Presentation	3 Months Ended
	Mar. 31, 2024
Overview of Operations and Basis of Presentation
Overview of Operations and Basis of Presentation	1. Overview of Operations and Basis of Presentation ​ Vista Gold Corp. and its subsidiaries (collectively, “Vista,” the “Company,” “we,” “our,” or “us”) operate in the gold mining industry. The Company’s flagship asset is its 100% owned Mt Todd gold project (“Mt Todd” or the “Project”) in Northern Territory, Australia. Since acquiring Mt Todd in 2006, we have invested substantial financial resources to systematically explore, evaluate, engineer, permit, and de-risk the Project. ​ The interim Condensed Consolidated Financial Statements (“interim statements”) of the Company are unaudited. In the opinion of management, all adjustments and disclosures necessary for a fair presentation of these interim statements have been included. The results reported in these interim statements are not necessarily indicative of the results that may be reported for the entire year. These interim statements should be read in conjunction with the Company’s Consolidated Financial Statements for the year ended December 31, 2023 as filed with the United States Securities and Exchange Commission and Canadian securities regulatory authorities on Form 10-K (the “2023 Financial Statements”). The balance sheet as of December 31, 2023 as presented herein was derived from the Company’s audited financial statements and, in accordance with the instructions to Form 10-Q, certain information and footnote disclosures required by United States generally accepted accounting principles have been condensed or omitted. ​ These interim statements have been prepared on the going concern basis of accounting, which contemplates Vista having the ability to meet its obligations when due in the normal course of business for the foreseeable future. Because the Company does not have recurring cash inflows from operations or investments, we rely on other sources of financing to fund operations. Such funding sources may include sales of non-core assets, equity issuances, royalty or stream agreements, convertible instruments, and debt facilities. Although management estimates the Company has access to sufficient cash flows for the next twelve months, there can be no assurance that the Company will be able to obtain adequate funding, or that such funding will be on terms acceptable to the Company, to meet future operational needs which may result in the delay, reduction, or discontinuation of ongoing programs. ​ References to $ are to United States dollars and A$ are to Australian dollars. ​

Significant Accounting Policies

Significant Accounting Policies	3 Months Ended
	Mar. 31, 2024
Significant Accounting Policies
Significant Accounting Policies	2. Significant Accounting Policies Significant accounting policies are included in the 2023 Financial Statements. ​

Mineral Properties

Mineral Properties	3 Months Ended
	Mar. 31, 2024
Mineral Properties
Mineral Properties	3. Mineral Properties ​ Mt Todd, Northern Territory, Australia ​ The capitalized mineral property values are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ At March 31, 2024 At December 31, 2023 ​ Mt Todd, Australia ​ $ 2,650 ​ $ 2,146 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Vista acquired Mt Todd in March 2006. The purchase price and related transaction costs of $2,146 were capitalized as mineral properties. Since 2006, the Company has systematically advanced the Project through exploration, metallurgical testing, engineering, environmental/operational permitting activities, and ongoing site management activities. Costs associated with these and other related activities were charged to expense as incurred. ​ Drilling and related costs are capitalized for an ore body where proven and probable reserves exist, and the activities are directed at obtaining additional information about the ore body or converting measured, indicated, and inferred resources to proven and probable reserves. All other drilling and related costs are expensed as incurred. Capitalized mineral property development drilling costs totaled $504 in the three months ended March 31, 2024. See Note 8 for a discussion of commitments and contingencies associated with Mt Todd.

Plant and Equipment

Plant and Equipment	3 Months Ended
	Mar. 31, 2024
Plant and Equipment
Plant and Equipment	4. Plant and Equipment ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2024 ​ December 31, 2023 ​ ​ ​ ​ ​ ​ Accumulated ​ ​ ​ ​ ​ ​ ​ Accumulated ​ ​ ​ ​ ​ Cost Depreciation Net Cost Depreciation Net Mt Todd, Australia ​ $ 5,466 ​ $ 5,223 ​ $ 243 ​ $ 5,415 ​ $ 5,211 ​ $ 204 ​ Corporate, United States ​ ​ 303 ​ ​ 303 ​ ​ — ​ ​ 303 ​ ​ 303 ​ ​ — ​ Used mill equipment, Canada ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ ​ $ 5,769 ​ $ 5,526 ​ $ 243 ​ $ 5,718 ​ $ 5,514 ​ $ 204 ​ ​ In March 2024, the Company recorded a gain of $802 upon sale of certain components of our used mill equipment. Gross proceeds totaled $900 and were offset by selling expense of $98. ​

Other Current Liabilities

Other Current Liabilities	3 Months Ended
	Mar. 31, 2024
Other Current Liabilities
Other Current Liabilities	5. Other Current Liabilities ​ The following table sets forth the Company’s accrued liabilities and other at March 31, 2024 and December 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At March 31, 2024 At December 31, 2023 ​ Accrued accounts payable ​ $ 310 ​ $ 152 ​ Accrued employee compensation and benefits ​ ​ 504 ​ ​ 597 ​ ​ ​ $ 814 ​ $ 749 ​ ​

Deferred Gain on Grant of Royal

Deferred Gain on Grant of Royalty	3 Months Ended
	Mar. 31, 2024
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 cash to advance Mt Todd and for general corporate purposes, excluding direct expenditures for any project other than Mt Todd, in exchange for payments of a portion of the gross revenue from Mt Todd (the “Royalty”). 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 ​ 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. The second instalment of $7,000 was received from Wheaton in February 2024 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. These two amounts were recorded as a deferred gain on grant of royalty as of March 31, 2024. 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. ​ A security interest was granted by Vista Gold Australia to Wheaton. The security includes, among other things, a mortgage over the Mt Todd tenements and a collateralized interest in the assets, rights and interests of Vista Gold Australia.

Common Shares

Common Shares	3 Months Ended
	Mar. 31, 2024
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 is not obligated, to sell and issue common shares in the capital of the Company (each a “Common Share”) through Wainwright for aggregate gross proceeds of up to $10,000 (the “ATM Program”). ​ During the three months ended March 31, 2024, the Company sold 100,000 Common Shares for net proceeds of $53, which was settled in April 2024, under the ATM Program. During the three months ended March 31, 2023, the Company realized net proceeds of $453 under the ATM Program. As of March 31, 2024, $8,647 remained available under the ATM Program. ​ Warrants ​ Warrant activity is summarized in the following table. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ Weighted ​ ​ ​ ​ ​ Average ​ Average ​ ​ ​ Warrants ​ Exercise Price ​ Remaining Life ​ ​ Outstanding Per Share (Years) As of December 31, 2022 ​ 7,408,101 ​ $ 1.25 ​ 1.5 ​ As of December 31, 2023 ​ 7,408,101 ​ $ 1.25 ​ 0.5 ​ As of March 31, 2024 ​ 7,408,101 ​ $ 1.25 ​ 0.3 ​ ​ Stock-Based Compensation ​ The Company’s stock-based compensation plans include: restricted share units (“RSUs”) issuable pursuant to the Company’s long-term equity incentive plan, deferred share units (“DSUs”) issuable pursuant to the Company’s deferred share unit plan (“DSU Plan”), and stock options (“Stock Options”) issuable under the Company’s stock option plan. Stock-based compensation may be issued to our directors, officers, employees, and consultants. The maximum number of Common Shares that may be reserved for issuance under the combined stock-based compensation plans is a variable number equal to 10% of the issued and outstanding Common Shares on a non-diluted basis at any particular time. Stock-based compensation may be granted from time to time at the discretion of the Board of Directors of the Company (the “Board”), with vesting provisions as determined by the Board. ​ Stock-based compensation expense was: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ 2024 2023 RSUs ​ $ 83 ​ $ 76 ​ DSUs ​ ​ 208 ​ ​ 103 ​ ​ ​ $ 291 ​ $ 179 ​ ​ As of March 31, 2024, unrecognized compensation expense for RSUs was $549, which is expected to be recognized over a weighted average period of 1.6 years. ​ Restricted Share Units ​ The following table summarizes RSU activity: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Average ​ ​ ​ Number ​ Grant-Date Fair ​ ​ of RSUs Value Per RSU ​ 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 Granted ​ 1,630,000 ​ ​ 0.24 ​ Cancelled/forfeited ​ (403,782) ​ ​ 0.50 ​ Vested, net of shares withheld ​ (445,551) ​ ​ 0.59 ​ Unvested - March 31, 2024 ​ 2,667,341 ​ $ 0.30 ​ ​ During the three months ended March 31, 2024 and 2023, the Company withheld Common Shares with an equivalent value to meet employee withholding tax obligations of $85 and $142, respectively, which resulted from the vesting of RSUs during these periods. Common Shares withheld are considered cancelled/forfeited. ​ Deferred Share Units ​ The DSU Plan provides for granting of DSUs to non-employee directors. DSUs vest immediately; however, the Company will issue one Common Share for each DSU only when the non-employee director ceases to be a director of the Company. During the three months ended March 31, 2024, the Board granted 612,000 DSUs and the Company recognized $208 in DSU expense. During the three months ended March 31, 2023, the Board granted 197,000 DSUs and the Company recognized $103 in DSU expense. ​ The following table summarizes DSU activity: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Average ​ ​ ​ Number of ​ ​ Grant-Date Fair ​ ​ DSUs ​ Value per DSU 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 ​ Granted ​ 612,000 ​ ​ 0.34 ​ Outstanding - March 31, 2024 ​ 1,801,000 ​ $ 0.57 ​ ​ Stock Options ​ The following table summarizes option activity for vested awards: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Average ​ ​ ​ ​ ​ ​ ​ Weighted Average ​ Remaining ​ Aggregate ​ ​ ​ Number of ​ Exercise Price ​ Contractual Term ​ Intrinsic ​ ​ Options Per Option (Years) Value 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 ​ $ — ​ Outstanding - March 31, 2024 ​ 400,000 ​ $ 0.70 ​ 0.25 ​ $ 3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Exercisable - March 31, 2024 ​ 400,000 ​ $ 0.70 ​ 0.25 ​ $ 3 ​ ​

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2024
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 the period before Vista’s purchase of Mt Todd are presently the responsibility of the Government of the Northern Territory, Australia (the “NT Government”). Vista may, but is not obligated to, give notice to the NT Government that it wishes to commence mining activities at Mt Todd. As a result of any such notice by the Company, the NT Government will transfer a) certain assets to the Company upon terms and conditions to be agreed or determined by an independent valuer and b) the rehabilitation, management and operational activities being carried out by the Territory. The historical rehabilitation liabilities to be transferred to Vista are currently stated by the NT Government at approximately 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 ranges from 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 and our interactions with community stakeholders, among others. 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 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.

Geographic and Segment Informat

Geographic and Segment Information	3 Months Ended
	Mar. 31, 2024
Geographic and Segment Information
Geographic And Segment Information	9. Geographic and Segment Information ​ The Company has one reportable operating segment. We seek to advance and develop 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 three ended March 31, 2024 and 2023. The geographic location of mineral properties and plant and equipment is provided in Notes 3 and 4, respectively.

Mineral Properties (Tables)

Mineral Properties (Tables)	3 Months Ended
	Mar. 31, 2024
Mineral Properties
Schedule of Mineral Properties	The capitalized mineral property values are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ At March 31, 2024 At December 31, 2023 ​ Mt Todd, Australia ​ $ 2,650 ​ $ 2,146 ​ ​ ​ ​ ​ ​ ​ ​ ​

Plant and Equipment (Tables)

Plant and Equipment (Tables)	3 Months Ended
	Mar. 31, 2024
Plant and Equipment
Schedule Of Plant And Equipment	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2024 ​ December 31, 2023 ​ ​ ​ ​ ​ ​ Accumulated ​ ​ ​ ​ ​ ​ ​ Accumulated ​ ​ ​ ​ ​ Cost Depreciation Net Cost Depreciation Net Mt Todd, Australia ​ $ 5,466 ​ $ 5,223 ​ $ 243 ​ $ 5,415 ​ $ 5,211 ​ $ 204 ​ Corporate, United States ​ ​ 303 ​ ​ 303 ​ ​ — ​ ​ 303 ​ ​ 303 ​ ​ — ​ Used mill equipment, Canada ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ ​ $ 5,769 ​ $ 5,526 ​ $ 243 ​ $ 5,718 ​ $ 5,514 ​ $ 204 ​

Other Current Liabilities (Tabl

Other Current Liabilities (Tables)	3 Months Ended
	Mar. 31, 2024
Other Current Liabilities
Schedule of accrued liabilities	The following table sets forth the Company’s accrued liabilities and other at March 31, 2024 and December 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At March 31, 2024 At December 31, 2023 ​ Accrued accounts payable ​ $ 310 ​ $ 152 ​ Accrued employee compensation and benefits ​ ​ 504 ​ ​ 597 ​ ​ ​ $ 814 ​ $ 749 ​ ​

Common Shares (Tables)

Common Shares (Tables)	3 Months Ended
	Mar. 31, 2024
Common Shares
Summary of outstanding warrants	Warrant activity is summarized in the following table. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ Weighted ​ ​ ​ ​ ​ Average ​ Average ​ ​ ​ Warrants ​ Exercise Price ​ Remaining Life ​ ​ Outstanding Per Share (Years) As of December 31, 2022 ​ 7,408,101 ​ $ 1.25 ​ 1.5 ​ As of December 31, 2023 ​ 7,408,101 ​ $ 1.25 ​ 0.5 ​ As of March 31, 2024 ​ 7,408,101 ​ $ 1.25 ​ 0.3 ​
Summary of stock-based compensation expense	Stock-based compensation expense was: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ 2024 2023 RSUs ​ $ 83 ​ $ 76 ​ DSUs ​ ​ 208 ​ ​ 103 ​ ​ ​ $ 291 ​ $ 179 ​
Summary of restricted stock unit activity	The following table summarizes RSU activity: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Average ​ ​ ​ Number ​ Grant-Date Fair ​ ​ of RSUs Value Per RSU ​ 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 Granted ​ 1,630,000 ​ ​ 0.24 ​ Cancelled/forfeited ​ (403,782) ​ ​ 0.50 ​ Vested, net of shares withheld ​ (445,551) ​ ​ 0.59 ​ Unvested - March 31, 2024 ​ 2,667,341 ​ $ 0.30 ​
Summary of deferred stock units	The following table summarizes DSU activity: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Average ​ ​ ​ Number of ​ ​ Grant-Date Fair ​ ​ DSUs ​ Value per DSU 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 ​ Granted ​ 612,000 ​ ​ 0.34 ​ Outstanding - March 31, 2024 ​ 1,801,000 ​ $ 0.57 ​
Summary of option activity	The following table summarizes option activity for vested awards: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Average ​ ​ ​ ​ ​ ​ ​ Weighted Average ​ Remaining ​ Aggregate ​ ​ ​ Number of ​ Exercise Price ​ Contractual Term ​ Intrinsic ​ ​ Options Per Option (Years) Value 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 ​ $ — ​ Outstanding - March 31, 2024 ​ 400,000 ​ $ 0.70 ​ 0.25 ​ $ 3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Exercisable - March 31, 2024 ​ 400,000 ​ $ 0.70 ​ 0.25 ​ $ 3 ​ ​

Overview of Operations and Ba_2

Overview of Operations and Basis of Presentation (Details)	3 Months Ended
	Mar. 31, 2024
Mt Todd, Australia
Property, Plant and Equipment [Line Items]
Percentage of ownership in project	100%

Mineral Properties - Mt. Todd,

Mineral Properties - Mt. Todd, Northern Territory, Australia (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended
	Mar. 31, 2006	Mar. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Mineral Properties, Net		$ 2,650	$ 2,146
Capitalization of mine development costs		504
Mt Todd, Australia
Property, Plant and Equipment [Line Items]
Mineral Properties, Net		$ 2,650	$ 2,146
Acquisition Costs, Period Cost	$ 2,146

Plant and Equipment (Details)

Plant and Equipment (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Cost	$ 5,769	$ 5,718
Accumulated depreciation	5,526	5,514
Net	243	204
Gain on sale of plant and equipment, net	802
Proceeds from sale of plant and equipment	900
Mt Todd, Australia
Property, Plant and Equipment [Line Items]
Cost	5,466	5,415
Accumulated depreciation	5,223	5,211
Net	243	204
Corporate, United States
Property, Plant and Equipment [Line Items]
Cost	303	303
Accumulated depreciation	303	303
Net	0	0
Used mill equipment, Canada
Property, Plant and Equipment [Line Items]
Cost	0	0
Accumulated depreciation	0	0
Net	0	$ 0
Gain on sale of plant and equipment, net	802
Proceeds from sale of plant and equipment	900
Selling costs of plant and equipment	$ 98

Other Current Liabilities - Acc

Other Current Liabilities - Accrued Liabilities and Other (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Other Current Liabilities
Accrued accounts payable	$ 310	$ 152
Accrued employee compensation and benefits	504	597
Accrued Liabilities, Current, Total	$ 814	$ 749

Deferred Gain on Grant of Roy_2

Deferred Gain on Grant of Royalty (Details) oz in Thousands, $ in Thousands		1 Months Ended		3 Months Ended
	Dec. 13, 2023 USD ($) installment oz t m³	Feb. 29, 2024 USD ($)	Dec. 31, 2023 USD ($)	Mar. 31, 2024 USD ($)
Deferred Gain on Grant of Royalty [Line Items]
Proceeds from grant of royalty interest				$ 7,000
Vista Australia | Wheaton | Mt Todd
Deferred Gain on Grant of Royalty [Line Items]
Cash advance	$ 20,000
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
Number of installments for consideration | installment	3
Proceeds from grant of royalty interest		$ 7,000	$ 3,000
Third installment amount	$ 10,000
Period considered for third installment from the date of first installment	6 months
Size of drilling program | m³	6,000
Vista Australia | Wheaton | Maximum | Mt Todd
Deferred Gain on Grant of Royalty [Line Items]
Royalty rate	2%

Common Shares - Equity Financin

Common Shares - Equity Financings (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended
	Apr. 30, 2024	Mar. 31, 2024	Mar. 31, 2023
Subsidiary, Sale of Stock [Line Items]
Proceeds from issuance of common shares			$ 453
At-The-Market Offering Agreement [Member] | H. C. Wainwright And Co., LLC [Member]
Subsidiary, Sale of Stock [Line Items]
Number of shares issued		100,000
Proceeds from issuance of common shares			$ 453
Threshold of aggregate sales proceeds		$ 10,000
Remaining threshold of aggregate sales proceeds		$ 8,647
At-The-Market Offering Agreement [Member] | H. C. Wainwright And Co., LLC [Member] | Subsequent Event [Member]
Subsidiary, Sale of Stock [Line Items]
Proceeds from issuance of common shares	$ 53

Common Shares - Warrants (Detai

Common Shares - Warrants (Details) - Warrants [Member] - $ / shares	3 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
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	3 months 18 days	6 months	1 year 6 months

Common Shares - Stock-Based Com

Common Shares - Stock-Based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of issued and outstanding Common Shares	10%
Stock-based compensation expense	$ 291	$ 179
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	83	76
Deferred Stock Units (DSU) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 208	$ 103

Common Shares - Unrecognized Co

Common Shares - Unrecognized Compensation (Details) - Restricted Stock Units (RSUs) [Member] $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense related to unvested awards	$ 549
Weighted average unrecognized compensation recognition period	1 year 7 months 6 days

Common Shares - Summary Of Rest

Common Shares - Summary Of Restricted Stock Units Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payment of taxes from withheld shares	$ 85	$ 142
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)	1,886,674	1,472,008	1,472,008
Granted, Number of units (in shares)	1,630,000		1,163,000
Cancelled/forfeited, Number of units (in shares)	(403,782)		(335,786)
Vested, net of shares withheld, Number of units (in shares)	(445,551)		(412,548)
Unvested, Number of units, end of period (in shares)	2,667,341		1,886,674
Outstanding, weighted average fair value, beginning of period (in dollars per share)	$ 0.46	$ 0.60	$ 0.60
Granted, Weighted average fair value (in dollars per share)	0.24		0.37
Cancelled/forfeited, Weighted average fair value (in dollars per share)	0.50		0.58
Vested, net of shares withheld, Weighted average fair value (in dollars per share)	0.59		0.60
Unvested, weighted average fair value, end of period (in dollars per share)	$ 0.30		$ 0.46
Payment of taxes from withheld shares	$ 85	$ 142

Common Shares - Summary Of Defe

Common Shares - Summary Of Deferred Share Units Activity (Details) $ / shares in Units, $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2024 USD ($) $ / shares shares	Mar. 31, 2023 USD ($) $ / shares shares	Dec. 31, 2023 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated Share-based Compensation Expense | $	$ 291	$ 179
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	1,189,000	1,254,000	1,254,000
Granted, Number of units (in shares) | shares	612,000	197,000	420,000
Shares issued to participants | shares			(485,000)
Unvested, Number of units, end of period (in shares) | shares	1,801,000		1,189,000
Outstanding, weighted average fair value, beginning of period (in dollars per share) | $ / shares	$ 0.68	$ 0.72	$ 0.72
Granted, Weighted average fair value (in dollars per share) | $ / shares	0.34		0.58
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	$ 0.57		$ 0.68
Allocated Share-based Compensation Expense | $	$ 208	$ 103

Common Shares - Summary Of Opti

Common Shares - Summary Of Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Common Shares
Number of options, beginning of period (in shares)	400,000	1,367,000
Number of options, Expired (in shares)		(967,000)
Number of options, end of period (in shares)	400,000	400,000	1,367,000
Number of options, Exercisable (in shares)	400,000
Weighted average exercise price per option, beginning of period (in dollars per share)	$ 0.70	$ 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	$ 0.70	$ 0.71
Weighted average exercise price, Exercisable (in dollars per share)	$ 0.70
Weighted average remaining contractual term, Outstanding	3 months	5 months 19 days	7 months 20 days
Weighted average remaining contractual term, Exercisable	3 months
Aggregate intrinsic value, Outstanding, end of period (in dollars)	$ 3
Aggregate intrinsic value, Options, Exercisable	$ 3

Commitments and Contingencies (

Commitments and Contingencies (Details) - Mt Todd, Australia - Scenario, Plan $ in Millions	3 Months Ended
	Mar. 31, 2024 AUD ($)
Loss Contingencies [Line Items]
Mine Reclamation and Closing Liability, Noncurrent	$ 73
Jawoyn Association Aboriginal Corporation
Loss Contingencies [Line Items]
Percentage of royalty on gold	1%
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%
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%

Geographic and Segment Inform_2

Geographic and Segment Information (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($) segment	Mar. 31, 2023 USD ($)
Geographic and Segment Information
Number of reportable segments | segment	1
Revenues | $	$ 0	$ 0

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ (1,073)	$ (1,971)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Mar. 31, 2024
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