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Mineral Properties

12 Months Ended

Dec. 31, 2021

Mineral Properties

Mineral Properties

4. Mineral Properties

Mt Todd, Northern Territory, Australia

Capitalized mineral property values were:


		At December 31, 2020			At December 31, 2019
Mt Todd, Australia		$	2,146		$	2,146

Guadalupe de los Reyes, Sinaloa, Mexico

In July 2020, the Company received the final $1,500 payment from Prime Mining Corporation (“Prime Mining”) for sale of the Guadalupe de los Reyes gold and silver project in Sinaloa, Mexico (“Los Reyes”). Upon receipt of final payment and transfer of the Los Reyes project to Prime Mining during the three months ended September 30, 2020, Vista recognized an operating gain of $3,540, inclusive of previously deferred option gain of $2,892 and net of associated closing costs. As part of the terms of sale, Prime Mining was required to make additional payments to Vista of $2,100 in lieu of Vista being granted certain royalty and back-in rights. Prime Mining paid $1,100 in January 2021 and $1,000 in June 2021. Having received these payments as scheduled, Vista has no remaining right to be granted the royalties and back-in right, and Vista recognized a gain on disposal of mineral property interests of $2,100 during the year ended December 31, 2021.

Awak Mas, Sulawesi, Indonesia

Vista held a net smelter return royalty (“NSR”) on the Awak Mas project in Indonesia. During 2019, Vista and the holder of Awak Mas, Nusantara Resources, amended the original royalty agreement to allow the holder or a nominated party to make a $2,400 payment to Vista by April 30, 2020 to cancel a 1% NSR on the first 1,250,000 ounces produced at Awak Mas and a 1.25% NSR on the next 1,250,000 ounces produced. On May 5, 2020, the Company received $2,400 to cancel the related 1% NSR and 1.25% NSR. The gain recognized upon receipt of this payment was $2,568, which included the $2,400 payment plus $168 of previously deferred option gain.

The Nusantara Resources subsidiary or a nominated party also had the right to cancel the remaining 1% NSR and 1.25% NSR for an additional payment of $2,500 by April 30, 2021. Vista and the Nusantara Resources subsidiary agreed in April 2021 to extend the payment date for the remaining $2,500 to not later than January 31, 2022 upon payment of certain extension fees. Vista received $315 during the year ended December 31, 2021 for extension fees. In October 2021, Nusantara Resources was acquired by Indika, which became the holder of Awak Mas. Indika made the final $2,500 payment on January 28, 2022. In 2022, the Company will recognize a gain for this amount plus $383 that is carried as deferred option gain as of December 31, 2021.