<SEC-DOCUMENT>0000919574-25-007045.txt : 20251114
<SEC-HEADER>0000919574-25-007045.hdr.sgml : 20251114
<ACCEPTANCE-DATETIME>20251114180019
ACCESSION NUMBER:		0000919574-25-007045
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20251112
FILED AS OF DATE:		20251114
DATE AS OF CHANGE:		20251114

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			SUN VALLEY GOLD LLC
		CENTRAL INDEX KEY:			0001280493
		ORGANIZATION NAME:           	
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-09025
		FILM NUMBER:		251488551

	BUSINESS ADDRESS:	
		STREET 1:		620 SUN VALLEY ROAD
		STREET 2:		P.O. BOX 2759
		CITY:			SUN VALLEY
		STATE:			ID
		ZIP:			83353
		BUSINESS PHONE:		208-726-2327

	MAIL ADDRESS:	
		STREET 1:		620 SUN VALLEY ROAD
		STREET 2:		P.O. BOX 2759
		CITY:			SUN VALLEY
		STATE:			ID
		ZIP:			83353

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Palmedo Peter F.
		CENTRAL INDEX KEY:			0001508389
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-09025
		FILM NUMBER:		251488550

	MAIL ADDRESS:	
		STREET 1:		620 SUN VALLEY ROAD
		STREET 2:		BOX 2759
		CITY:			SUN VALLEY
		STATE:			ID
		ZIP:			83353

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			VISTA GOLD CORP
		CENTRAL INDEX KEY:			0000783324
		STANDARD INDUSTRIAL CLASSIFICATION:	GOLD & SILVER ORES [1040]
		ORGANIZATION NAME:           	01 Energy & Transportation
		EIN:				980542444
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		8310 S. VALLEY HWY, SUITE 300
		CITY:			ENGLEWOOD
		STATE:			CO
		ZIP:			80112
		BUSINESS PHONE:		720-981-1185

	MAIL ADDRESS:	
		STREET 1:		8310 S. VALLEY HWY, SUITE 300
		CITY:			ENGLEWOOD
		STATE:			CO
		ZIP:			80112

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GRANGES INC
		DATE OF NAME CHANGE:	19950602

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GRANGES EXPLORATION LTD
		DATE OF NAME CHANGE:	19890619
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>ownership.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0508</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2025-11-12</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000783324</issuerCik>
        <issuerName>VISTA GOLD CORP</issuerName>
        <issuerTradingSymbol>VGZ</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001280493</rptOwnerCik>
            <rptOwnerName>SUN VALLEY GOLD LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>620 SUN VALLEY ROAD</rptOwnerStreet1>
            <rptOwnerStreet2>2ND FLOOR, PO BOX 2211</rptOwnerStreet2>
            <rptOwnerCity>KETCHUM</rptOwnerCity>
            <rptOwnerState>ID</rptOwnerState>
            <rptOwnerZipCode>83340</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001508389</rptOwnerCik>
            <rptOwnerName>Palmedo Peter F.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O SUN VALLEY GOLD LLC</rptOwnerStreet1>
            <rptOwnerStreet2>620 SUN VALLEY ROAD, 2ND FL, PO BOX 2211</rptOwnerStreet2>
            <rptOwnerCity>KETCHUM</rptOwnerCity>
            <rptOwnerState>ID</rptOwnerState>
            <rptOwnerZipCode>83340</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>0</aff10b5One>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Shares</value>
            </securityTitle>
            <transactionDate>
                <value>2025-11-12</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>1242469</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>1.74</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>13728729</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See footnote</value>
                    <footnoteId id="F1"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">The Common Shares are held in the accounts of advisory clients of Sun Valley Gold LLC and may be deemed to be beneficially owned by Sun Valley Gold LLC. Sun Valley Gold LLC disclaims beneficial ownership of the reported securities except to the extent of his or its pecuniary interest therein, and affirmatively disclaim being a &quot;group&quot; for purposes of Section 16 of the Securities Exchange Act of 1934, as amended.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Sun Valley Gold LLC, By: Peter F. Palmedo, as Managing Member, /s/ Peter F. Palmedo</signatureName>
        <signatureDate>2025-11-14</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>Peter F. Palmedo, /s/ Peter F. Palmedo</signatureName>
        <signatureDate>2025-11-14</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
