<SEC-DOCUMENT>0000912282-12-000776.txt : 20120928
<SEC-HEADER>0000912282-12-000776.hdr.sgml : 20120928
<ACCEPTANCE-DATETIME>20120928171233
ACCESSION NUMBER:		0000912282-12-000776
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20120928
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20120928
DATE AS OF CHANGE:		20120928

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			VISTA GOLD CORP
		CENTRAL INDEX KEY:			0000783324
		STANDARD INDUSTRIAL CLASSIFICATION:	GOLD & SILVER ORES [1040]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			B0
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-09025
		FILM NUMBER:		121117543

	BUSINESS ADDRESS:	
		STREET 1:		7961 SHAFFER PKWY
		CITY:			LITTLETON
		STATE:			CO
		ZIP:			80127
		BUSINESS PHONE:		720-981-1185

	MAIL ADDRESS:	
		STREET 1:		7961 SHAFFER PKWY
		CITY:			LITTLETON
		STATE:			CO
		ZIP:			80127

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GRANGES INC
		DATE OF NAME CHANGE:	19950602

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GRANGES EXPLORATION LTD
		DATE OF NAME CHANGE:	19890619
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>vista8k_09282012.htm
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<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">UNITED STATES</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><a name="A012"><!--EFPlaceholder--></a>Item 8.01. Other Events, Financial Statements and Exhibits</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Vista Gold Corp. (the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Registrant</font>&#8221;) is filing this Current Report on Form 8-K to provide a copy of the legal opinion of Macdonald &amp; Company LLP relating to the legality of the shares of the Registrant&#8217;s common stock (the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Compensation Option Shares</font>&#8221;) issuable upon the exercise of 225,000 compensation options of the Registrant granted to certain underwriters in connection with the public offering of 9,000,000 shares of the Registrant&#8217;s common stock that closed on April 20, 2011.&#160;&#160;The Compensation Option Shares are to be issued by the Registrant pursuant the Registrant&#8217;s Registration Statement on Form S-3 (File No.<font style="DISPLAY: inline; FONT-SIZE: 10pt">&#160;</font>333-180154) filed with the Securities and Exchange Commission on April 19, 2012 and the related prospectus supplement filed with the Securities and Exchange Commission on September 28, 2012.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Dated:&#160;September 28, 2012</font></font></div>
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<td width="50%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">By:&#160; <font style="TEXT-DECORATION: underline">/s/ John Engele<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font></font></font></td>
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<td width="50%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">John Engele</font></td>
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<td width="50%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Chief Financial Officer</font></td>
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<td width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">5.1</font></td>
<td width="91%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">Opinion of Macdonald &amp; Company LLP*</font></td>
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<div style="TEXT-ALIGN: right"><font style="FONT-WEIGHT: bold">EXHIBIT 5.1</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Gareth C. Howells</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">204 Lambert Street</font></div>

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<div align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Registration Statement on Form S-3 (the "Registration Statement")<br>
Our File: 20120402</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">We have acted as Yukon counsel to Vista Gold Corp., a Yukon Territory corporation (the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Company</font>&#8221;), with respect to certain legal matters in connection with the registration by the Company, under the U.S. <font style="FONT-STYLE: italic; DISPLAY: inline">Securities Act of 1933</font>, as amended (the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Securities Act</font>&#8221;) of 225,000 common shares in the capital of the Company (subject to adjustment) (the "<font style="DISPLAY: inline; FONT-WEIGHT: bold">Compensation Option Shares"</font>) issuable upon the exercise of 225,000 compensation options of the Company (the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Compensation Options</font>&#8221;) (the Compensation Option Shares and Compensation Options are collectively referred to herein as the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Securities</font>&#8221;);</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The Compensation Options were granted to GMP Securities L.P. and Wellington West Capital Markets Inc., as underwriters, in connection with the public offering 9,000,000 common shares in the capital of the Company that closed on April 20, 2011.&#160;&#160;The Registration Statement relates to the issuance by the Company of the Compensation Option Shares upon exercise of the Compensation Options.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block"><font style="FONT-WEIGHT: bold">MACDONALD &amp; CO</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">We have also assumed the legal capacity for all purposes relevant hereto of all natural persons and, with respect to all parties to agreements or instruments relevant hereto other than the Company, that such parties had the requisite power and authority (corporate or otherwise) to execute, deliver and perform such agreements or instruments, that such agreements or instruments have been duly authorized by all requisite action (corporate or otherwise), executed and delivered by such parties and that such agreements or instruments are the legal, valid, binding and enforceable obligations of such parties.&#160;&#160;As to questions of fact material to our opinions, we have relied upon certificates of officers of the Company and of public officials.<font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font>We have not undertaken any independent investigation to verify the accuracy or completeness of any of the foregoing assumptions.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">For purposes of this opinion letter, we have also assumed that (a) the Registration Statement, and any amendments thereto (including post-effective amendments), will have become effective and such effectiveness will not have been terminated or rescinded, (b) all Securities will be or have been offered, issued and sold in compliance with applicable United States federal and state securities laws and in the manner stated in the Registration Statement, (c) any definitive purchase, finder, agency, underwriting or similar agreement with respect to any Securities will have been or has been duly authorized and validly executed and delivered by the Company and the other parties thereto, (d) at the time of issuance of the Compensation Option Shares, the Company validly exists and is duly qualified and in good standing under the laws of its jurisdiction of incorporation, and has the necessary corporate power for such issuance, (e) at the time of issuance of the Compensation Option Shares, the Articles of Incorporation and then operative bylaws of the Company are in full force and effect and have not been amended, restated, supplemented or otherwise altered, and there has been no authorization of any such amendment, restatement, supplement or other alteration, in either case since the date hereof, and (f) that the terms, execution and delivery of the Securities (A) do not result in breaches of, or defaults under, agreements or instruments to which the Company is bound or violations of applicable statutes, rules, regulations or court or governmental orders, and (B) comply with any applicable requirement or restriction imposed by any court or governmental body having jurisdiction over the Company. We have not undertaken any independent investigation to verify the accuracy or completeness of any of the foregoing assumptions.</font></div>

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<div align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">the Compensation Option Shares upon due exercise of the Compensation Options have been duly authorized and approved, and when issued and delivered and upon payment therefore in accordance with their terms, the Compensation Option Shares will be validly issued and outstanding as fully paid and non-assessable shares in the capital of the Company.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block"><font style="TEXT-DECORATION: underline">/s/ Gareth C. Howells<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font></font><br>
<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Gareth C. Howells</font></div>

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