Vista Gold Corp 2026年季度报告

VISTA GOLD CORP.FORM10-Q PagePART I – FINANCIAL INFORMATIONITEM 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS3ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIALCONDITION AND RESULTS OF OPERATIONS13ITEM 4. CONTROLS AND PROCEDURES25PART II – OTHER INFORMATIONITEM 1. LEGAL PROCEEDINGS25ITEM 1A. RISK FACTORS26ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OFPROCEEDS26ITEM 3. DEFAULTS UPON SENIOR SECURITIES26ITEM 4. MINE SAFETY DISCLOSURE26ITEM 5. OTHER INFORMATION26ITEM 6. EXHIBITS27SIGNATURES PART I VISTA GOLD CORP.UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS)(Dollar amounts in U.S. dollars and in thousands, except per share data) VISTA GOLD CORP. VISTA GOLD CORP.UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS VISTA GOLD CORP.NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS(Dollar amounts in U.S. dollars and in thousands, except share-related amounts) 1.Overview of Operations and Basis of Presentation Vista Gold Corp. and its subsidiaries (collectively, “Vista,” the “Company,” “we,” “our,” or “us”) operateas a development-stage company in the gold mining industry. The Company’s flagship asset is its 100%owned Mt Todd gold project (“Mt Todd” or the “Project”) in Northern Territory, Australia. Since acquiringMt Todd in 2006, we have invested substantial financial resources to systematically explore, evaluate, The interim Condensed Consolidated Financial Statements (“interim statements”) of the Company areunaudited. In the opinion of management, all adjustments, reclassifications, and disclosures necessary for afair presentation of these interim statements are included. The results reported in these interim statementsare not necessarily indicative of the results that may be reported for the entire year. These interimstatements should be read in conjunction with the Company’s Consolidated Financial Statements for theyear ended December 31, 2025 as filed with the United States Securities and Exchange Commission and Theseinterim statements have been prepared on the going concern basis of accounting,whichcontemplates Vista having the ability to meet its obligations when due in the normal course of business forthe foreseeable future. Because the Company does not have recurring cash inflows from operations orinvestments, we rely on other sources of financing to fund operations. Such funding sources may includesales of non-core assets, equity issuances, royalty or stream agreements, convertible instruments, and debt References to $ are to United States dollars and A$ are to Australian dollars. 2.Significant Accounting Policies Significant accounting policies are included in the 2025 Financial Statements. 3.Mineral Properties Mt Todd, Northern Territory, Australia The capitalized mineral property values are as follows: Mt Todd, Australia Vista acquired Mt Todd in March 2006. Since then, the Company has systematically advanced the Projectthrough exploration, metallurgical testing, engineering, environmental/operational permitting activities, Mineral resource development costs are capitalized for an ore body where proven and probable reservesexist, and the activities are directed at obtaining additional information about the ore body or convertingmeasured, indicated, and inferred resources to proven and probable reserves. All other property-relatedcosts are expensed as incurred. Capitalized mineral property development costs totaled $nil and $150 in 4.Plant and Equipment 5.Other Current Liabilities The following table sets forth the Company’s accrued liabilities and other at March 31, 2026 andDecember 31, 2025: 6.Common Shares Equity Financing On March 9, 2026, Vista closed a public offering of 17,940,000 common shares in the capital of theCompany (each a “Common Share”), inclusive of the underwriters’ exercise of their 15% overallotmentoption, at a price of $2.50 per Common Share (the “March 2026 Offering”). Aggregate gross proceedstotaled $44,850. After deductions for underwriting discounts, commissions and other costs, net proceeds Vista is party to an at-the-market offering agreement (the “ATM Agreement”) with H. C. Wainwright &Co., LLC (“Wainwright”), under which the Company has the right, but is not obligated, to issue and sellCommon Shares through Wainwright (the “ATM Program”). In connection with the March 2026 Offering,we suspended the ATM Agreement and terminated the continuous offering by us under the associated During the three months ended March 31, 2026 and 2025, the Company realized net proceeds under theATM Program of $nil and $269, respectively. At the time the ATM Agreement was suspended, $3,379 Stock-Based Compensation The Company’s stock-based compensation plans include restricted share units (“RSUs”) issuable pursuantto the Company’s long-term equity incentive plan, deferred share units (“DSUs”) issuable pursuant to theCompany’s deferred share unit plan (“DSU Plan”), and stock options (“Stock Options”) issuable under t