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Mineral Properties
 3 Months Ended
Mar. 31, 2024
Mineral Properties  
Mineral Properties

3. Mineral Properties

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Mt Todd, Northern Territory, Australia

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The capitalized mineral property values are as follows:

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At March 31, 2024

    

At December 31, 2023

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Mt Todd, Australia

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$

2,650

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$

2,146

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Vista acquired Mt Todd in March 2006. The purchase price and related transaction costs of $2,146 were capitalized as mineral properties. Since 2006, the Company has systematically advanced the Project through exploration, metallurgical testing, engineering, environmental/operational permitting activities, and ongoing site management activities. Costs associated with these and other related activities were charged to expense as incurred.

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Drilling and related costs are capitalized for an ore body where proven and probable reserves exist, and the activities are directed at obtaining additional information about the ore body or converting measured, indicated, and inferred resources to proven and probable reserves. All other drilling and related costs are expensed as incurred. Capitalized mineral property development drilling costs totaled $504 in the three months ended March 31, 2024. See Note 8 for a discussion of commitments and contingencies associated with Mt Todd.