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Long-Term Investments | 12 Months Ended
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Dec. 31, 2011
Long-Term Investments [Abstract] |
Long-Term Investments | 7. Long-Term Investments Midas Gold Corp. Combination In April 2011, Vista completed a combination (the “Combination”) with Midas Gold, Inc. As part of the Combination, each party contributed their respective interests in gold assets in the Yellow Pine-Stibnite District in Idaho to a new Canadian private company named Midas Gold Corp. (“Midas Gold”). In exchange for the contribution of its equity interests in Idaho Gold Holding Company, Vista US was issued 30,402,615 common shares in the capital of Midas Gold (“Midas Gold Shares”). Concurrently with the Combination, Midas Gold completed a private placement of 6,129,800 Midas Gold Shares at a purchase price of C$2.50 ($2.59 based on the exchange rate on April 6, 2011) per share to raise gross proceeds of C$15,325 ($15,876 based on the exchange rate on April 6, 2011) (the “Private Placement”). We purchased 1,400,000 Midas Gold Shares through the Private Placement for an aggregate purchase price of C$3,500 ($3,632 based on the exchange rate on April 6, 2011). Following completion of the Combination and the Private Placement, Vista and Vista US together held 31,802,615 Midas Gold Shares representing as at April 6, 2011 approximately 37.4% (basic) and 34.2% (fully diluted basis) of the issued and outstanding Midas Gold Shares. On July 14, 2011, Midas Gold successfully completed an initial public offering (“IPO”), issuing 13,930,855 Midas Gold Shares. Midas Gold Shares began trading on the Toronto Stock Exchange (“TSX”) under the symbol “MAX.” As of September 30, 2011, Midas had 105,241,936 common shares outstanding of which Vista owns 31,802,615 common shares or 30.2% of the issued and outstanding Midas Gold Shares. Upon initial recognition of its investment in the Midas Gold Shares, Vista elected to apply the fair value option, and as such, the investment is recorded at fair value in the Consolidated Balance Sheet. Subsequent changes in fair value are recorded in the Consolidated Statement of Income/(Loss) in the period in which they occur. The difference between the fair value of the 30,402,615 Midas Gold Shares and the carrying value of our Yellow Pine assets has been recorded as a gain on disposal of mineral property given that Vista ceased to have a controlling financial interest in the Yellow Pine gold project upon completion of the Combination. The Midas Gold Shares are currently subject to a contractual restriction on transfer from the date of Midas Gold's IPO, which was July 14, 2011. Because management intends on holding this investment for the long term, we have classified our investment in the Midas Gold Shares as a long-term investment. Summarized financial information for Midas as of September 30, 2011 and for the twelve months then ended, which represents Midas Gold's latest available financial data as of the filing date of this annual report, prepared in accordance with International Financial Reporting Standards for interim financial statements is as follows. The Company will file an amendment to this annual report once the annual financial information for Midas Gold is available.
|  | September 30, 2011 |
Assets |  |  |
Current assets |  |  |
Cash and cash equivalents |  | $ | 51,250 |
Prepaid and other assets |  |  | 293 |
Total current assets |  |  | 51,543 |
Non-current assets |  |  |  |
Buildings and equipment |  |  | 1,302 |
Exploraiton and evaluation assets |  |  | 102,019 |
Other non-current assets |  |  | 18 |
Total non-current assets |  |  | 103,339 |
Total assets |  | $ | 154,882 |
Liabilities and Shareholders' Equity |  |  |  |
Current liabilities |  |  |  |
Accounts payable |  | $ | 3,058 |
Current portion of notes payable |  |  | 178 |
Accrued interest |  |  | 9 |
Total current liabilities |  |  | 3,245 |
Long-term portion of notes payable |  |  | 566 |
Shareholders' equity |  |  |  |
Share capital |  |  | 155,482 |
Equity reserve |  |  | 7,574 |
Deficit |  |  | (11,985 | )
Total shareholders' equity |  |  | 151,071 |
Total liabilities and shareholders' equity |  | $ | 154,882 |
|  | Three Months Ended |
|  | September 30, |  |  | June 30, |  |  | March 30, |  |  | December 31, |
|  | 2011 |  |  | 2011 |  |  | 2011 |  |  | 2010 |
Operating income/(expense) |  | $ | (2,988 | ) |  | $ | (3,349 | ) |  | $ | (982 | ) |  | $ | (188 | )
Other income/(expense) |  |  | (3,768 | ) |  |  | (52 | ) |  |  | 5 |  |  |  | 4 |
Net loss |  | $ | (6,756 | ) |  | $ | (3,401 | ) |  | $ | (977 | ) |  | $ | (184 | )
Net loss per share, basic and diluted |  | $ | (0.07 | ) |  | $ | (0.04 | ) |  | $ | (0.02 | ) |  | $ | (0.00 | )
Weighted average number of shares outstanding, basic and diluted |  |  | 102,557,000 |  |  |  | 86,903,000 |  |  |  | 43,848,000 |  |  |  | 43,807,000 |

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- Definition The entire disclosure for equity investment, or group of investments, for which combined disclosure is appropriate, including: (a) the name of each investee and percentage of ownership of common stock, (b) accounting policies for investments in common stock, (c) difference between the amount at which the investment is carried and the amount of underlying equity in net assets and the accounting treatment of the difference, (d) the total fair value of each identified investment for which a market value is available, (e) summarized information as to assets, liabilities, and results of operations of the investees (for investments in unconsolidated subsidiaries, common stock of joint ventures, or other investments using the equity method), and (f) material effects of possible conversions, exercises, or contingent issuances of the investee. Other disclosures include (a) the names of any investee in which the investor owns 20 percent or more of the voting stock and investment is not accounted for using the equity method, and the reasons why not, and (b) the names of any investee in which the investor owns less than 20 percent of the voting stock and the investment is accounted for using the equity method, and the reasons why it is. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6382943&loc=d3e33918-111571 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 35 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6903645&loc=d3e32787-111569 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 18 -Paragraph 20 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.12) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 35 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6903645&loc=d3e32847-111569 + Details
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