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Other Investments
9 Months Ended
Sep. 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 (“Midas Gold Shares”). Concurrently with the Combination, we purchased 1,400,000 Midas Gold 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 24.9%  of the total Midas Gold Shares outstanding based on the latest Midas Gold Corp financial information available).

 

During the three and nine months ended September 30, 2013, we recorded an unrealized gain on the Midas Gold Shares of $4,547 and an unrealized loss of $42,775, respectively with a corresponding U.S. tax expense of $1,670 and tax benefit of $15,701, respectively. As of September 30, 2013, the fair value of the Midas Gold Shares we hold was $26,714.