VISTA GOLD CORP (VGZ) SEC Filings & Earnings Calls
EquiReason read 11 VISTA GOLD CORP SEC filings in the last 12 months. Latest: 8-K on 2026-09-21 — Artemis Gold Inc. agrees to acquire Vista Gold Corp. for ~US$427M in stock, a 29% premium to 20-day VWAP. Transaction adds Mt Todd gold project in Australia, preserves Blackwater m.
Source: SEC EDGAR filings · figures as of 2026-06-30 · read by EquiReason
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Every filing, read
last 12 months · SECWhat happened, the numbers inside, guidance and risks. The original is one click away.
21 Sep 20268-K · 1.01, 7.01Artemis Gold Inc. agrees to acquire Vista Gold Corp. for ~US$427M in stock, a 29% premium to 20-day VWAP. Transaction adds Mt Todd gold project in Australia, preserves Blackwater mine priority.being acquiredopen
Risks flagged
Execution risk on Mt Todd development timeline; reliance on Blackwater cash flows
“Mt Todd construction expected to advance following completion of EP2; no specific timeline for Mt Todd development spend”
29 Jul 202610-QQuarterly update with feasibility study highlights and equity offeringopen
Figures in the filing · each found in the filing text
| Initial capital requirements · Mt Todd Project · FY2025 | $425M | -59% y/y |
| Average annual gold production (years 1-15) · Mt Todd Project · FY2025 | 153,000 | |
| After-tax NPV 5% · Mt Todd Project · FY2025 | $1.10B | |
| Internal rate of return · Mt Todd Project · FY2025 | 27.8% | |
| All-in Sustaining Cost (years 1-15) · Mt Todd Project · FY2025 | $1449.00 |
Risks flagged
Water management and extreme rainfall risk
“During the 2025–2026 wet season, rainfall at Mt Todd was approximately 50% above historical averages, resulting in greater-than-expected water accumulation and prompting us to pursue additional alternatives for water removal” · word for word
29 Jul 20268-K · 2.02Vista Gold reports Q2 2026 net loss of $3.0M, cash $49.5M, no debt; progress on Mt Todd project permitting and engineering.earningsopen
Figures in the filing · each found in the filing text
| Net loss · Q2-2026 | $-3M | +25% y/y |
| Cash and cash equivalents · 2026-06-30 | $50M | +264% y/y |
Risks flagged
Net loss increased year-over-year; no revenue yet as project is pre-production.
“Net loss of $3.0M in Q2 2026 vs $2.4M in Q2 2025.”
30 Apr 202610-QVista Gold Corp. completed a $44.85M public equity offering to fund advancement of the Mt Todd gold project.open
Figures in the filing · each found in the filing text
| Net Loss · Q1-2026 | $-3M | +16% y/y |
| Cash and Cash Equivalents · 2026-03-31 | $53M | |
| Working Capital · 2026-03-31 | $51M | |
| Proven & Probable Gold Mineral Reserves · 2025-07-25 | $5M | |
| Initial Capital Requirements · 2025-07-29 | $425M | |
| After-tax NPV 5% · 2025-07-29 | $1.10B | |
| After-tax IRR · 2025-07-29 | 27.8% | |
| Average Annual Gold Production (Years 1-15) · 2025-07-29 | $153000.00 | |
| Net Proceeds from March 2026 Offering · 2026-03-09 | $42M |
Risks flagged
Development-stage company with no revenue
“Vista does not currently generate cash flows from mining operations.” · word for word
Substantial capital required for development
“Should the Company accelerate portions of its Mt Todd development plans, additional equity issuances or other forms of financing will be required to meet Working Capital requirements.” · word for word
Gold price volatility
“fluctuations in the price of gold” · word for word
Permitting risk
“our ability to obtain, renew or maintain the necessary licenses, authorizations and permits for Mt Todd, including its development plans and operating activities” · word for word
PFIC classification risk
“Vista believes it is possible the Company may be classified as a “passive foreign investment company”” · word for word
30 Apr 20268-K · 2.02Vista Gold reported Q1 2026 net loss of $3.1M vs $2.7M loss a year ago; cash $52.7M up from $13.6M; no revenue; no debt; advancing Mt Todd project with permit modifications expected in 2027.earningsopen
Figures in the filing · each found in the filing text
| Cash and cash equivalents · Q1-2026 | $53M | +288% y/y |
| Net loss · Q1-2026 | $-3M | +15% y/y |
Risks flagged
Permit modification approval timeline uncertain; final approval expected in 2027, which could delay project development.
“Management anticipates that the approval of these modifications will take place over time, with the final approval expected in 2027.” · word for word
No revenue generation; pre-production stage with ongoing net losses; dependent on financing and project execution.
“Vista reported a consolidated net loss of $3.1 million... no revenue mentioned.”
17 Mar 2026DEF 14AProxy statement (DEF 14A) filed; includes say-on-pay vote, stock option plan amendment, and executive compensation details.open
Figures in the filing · each found in the filing text
| Net income (loss) · FY2025 | $-7M | -167% y/y |
| Total Shareholder Return (TSR) on $100 investment · FY2025 | $394.00 | +252% y/y |
Risks flagged
Development stage company risk
“We are not a production stage mining company, we did not have any revenue from continuing operations during the periods presented.” · word for word
11 Mar 20268-K · 2.02Vista Gold reported FY2025 net loss of $7.5M vs net income of $11.2M in FY2024; cash $13.6M; no debt; equity raise of $44.85M closed March 2026; focus on Mt Todd feasibility study and permitting.earningsopen
Figures in the filing · each found in the filing text
| Net loss · FY2025 | $-8M | -167% y/y |
| Cash and cash equivalents · 2025-12-31 | $14M | -20% y/y |
Risks flagged
Development-stage gold project with no production; execution risk on permitting and construction.
“Modifications of our existing key permits are underway... We have started building our Australian-based team... targeting first gold production after ~27-month construction period.”
11 Mar 202610-KAnnual report filing with no material event.open
Figures in the filing · each found in the filing text
| Proven & Probable Mineral Reserves · FY2025 | 5,190,000 | |
| Average annual gold production · FY2025 | 146,000 |
12 Nov 20258-K · 2.02Vista Gold reported Q3 2025 net loss of $0.7M vs $1.6M loss a year ago; cash $13.7M; no debt; highlighted Mt Todd feasibility study with after-tax NPV 5% $1.1B, IRR 27.8% at $2,500/oz gold.earningsopen
Figures in the filing · each found in the filing text
| Net loss · Q3-2025 | $-700000.00 | -56% y/y |
| Cash and cash equivalents · 2025-09-30 | $14M | -19% y/y |
Risks flagged
Development-stage project with no revenue; cash burn may require future financing.
“Cash declined from $16.9M to $13.7M; company has no revenue from operations.”
12 Nov 202510-QVista Gold announced results of new feasibility study for Mt Todd with lower initial capital and robust economics.open
Figures in the filing · each found in the filing text
| Net loss · Q3-2025 | $-723000.00 | -56% y/y |
| Cash and cash equivalents · 2025-09-30 | $14M | -19% y/y |
| Working capital · 2025-09-30 | $13M | -22% y/y |
Risks flagged
No revenue, development-stage
“Vista does not currently generate cash flows from mining operations.” · word for word
Reclamation liability transfer
“The historical rehabilitation liabilities to be transferred to Vista are currently stated by the NT Government at approximately A$ 73 million.” · word for word
VISTA GOLD CORP — questions
- What did VISTA GOLD CORP file recently?
- 11 SEC filings in the last 12 months. Latest: 8-K on 2026-09-21 — Artemis Gold Inc. agrees to acquire Vista Gold Corp. for ~US$427M in stock, a 29% premium to 20-day VWAP. Transaction adds Mt Todd gold project in Australia, preserves Blackwater mine priority.
Every figure on this page comes from VISTA GOLD CORP's own SEC filings — see them on SEC EDGAR. Price data is licensed and shown only inside the product.
How these figures are read: methodology · EquiReason.