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Other Investments
6 Months Ended
Jun. 30, 2013
Other Investments [Abstract]  
Other Investments

5. Other 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 form 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, the holding company in which we held our assets in the Yellow Pine-Stibnite District, Vista Gold U.S., Inc. (“Vista US”) was issued 30,402,615 common shares in the capital of Midas Gold. Concurrently with the Combination, we purchased 1,400,000 Midas Gold commons shares for an aggregate purchase price of $3,632 as part of a Midas Gold private placement. Following completion of these transactions, Vista holds a total of 31,802,615 Midas Gold shares, or 27.7%  of the total Midas Gold shares outstanding at March 31, 2013.

 

During the three and six months ended June 30, 2013, we recorded an unrealized loss on the Midas Gold shares of $18,541 and $47,322 with a corresponding US tax benefit of $6,806 and $17,371. As of June 30, 2013, the fair value of the Midas Gold shares we hold was $22,167.