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Other Investments

12 Months Ended

Dec. 31, 2016

Investments, All Other Investments [Abstract]

Other Investments

3. Other Investments

Short-term investments

As of December 31, 2016 and 2015, the amortized cost basis of our short-term investments was $21,975 and $11,990, respectively. The amortized cost basis approximates fair value at December 31, 2016 and 2015. Short-term investments at December 31, 2016 are comprised of U.S. government treasury bills and/or notes, while short-term investments at December 31, 2015 were comprised of U.S. government and Australian treasury bills and/or notes, all of which have maturity dates greater than 90 days but less than one year.

Other investments - Midas Gold Shares

During February 2014, we sold 16,000,000 Midas Gold Shares at a price of C$0.80 ($0.73) per Midas Gold Share for net proceeds of $10,560 reducing the total of our Midas Gold Shares to 15,802,615 or approximately 11.2% of the outstanding Midas Gold Shares outstanding, on a non-dilutive basis, at that time.  This sale resulted in a realized gain on other investments of $155 based on the realized value at the time of the sale compared to the fair value of the Midas Gold Shares at December 31, 2013, net of costs to sell.

During March 2015, we sold 8,000,000 Midas Gold Shares, at a price of C$0.46 ($0.36) per Midas Gold Share, for net proceeds of $2,772, reducing the total Midas Gold Shares we own to 7,802,615 or approximately 4.4% of the Midas Gold Shares outstanding, on a non-dilutive basis. This sale resulted in a realized loss on other investments of $348 based on the realized value at the time of the sale compared to the fair value of the Midas Gold Shares at December 31, 2014, net of costs to sell.  

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 Sheets.  Subsequent changes in fair value are recorded in the Consolidated Statements of Income/(Loss) and Comprehensive Income/(Loss) in the period in which they occur. 

The following table summarizes our investment in Midas Gold Shares as at December 31, 2016 and 2015.

		December 31, 2016			December 31, 2015
Fair value at beginning of period		$	1,798		$	6,163
Sale of Midas Gold Shares, net of costs to sell			—			(2,772)
Gain/(loss) during the period			3,196			(1,593)
Fair value at end of period		$	4,994		$	1,798
Midas Gold Shares held at the end of the period			7,802,615			7,802,615

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- Definition

The entire disclosure for investments accounted for under the cost-method. The carrying amount of such investments may be adjusted, for example, distributions in excess of cost (return of capital) or for other-than-temporary impairments. The cost method and lower-of-cost or market, an adaptation of the cost method, is generally followed for most investments in noncontrolled corporations, in some corporate joint ventures, and to a lesser extent in unconsolidated subsidiaries in which the entity does not have the ability to exercise significant influence.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 325
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6872867&loc=d3e40691-111596

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- References

No definition available.

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