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Vista Gold Corp. is the issuer named in an amended ownership report stating that investment adviser Kopernik Global Investors, LLC and its controlling member and Co-Chief Investment Officer, David B. Iben, report aggregate beneficial ownership of 15,064,087 Common Shares, or 10.32%. The percentage is based on 145,971,346 Common Shares outstanding as of November 4, 2026. They report shared voting power over 14,605,486 shares and shared dispositive power over 15,064,087 shares, while stating none of the securities are held by them.
Key Figures
Aggregate beneficial ownership:15,064,087 Common SharesPercent of class:10.32%Shared voting power:14,605,486 Common Shares+2 more
5 metrics
Aggregate beneficial ownership15,064,087 Common SharesKopernik Global Investors, LLC and David B. Iben, in aggregate
Percent of class10.32%Based on Common Shares outstanding as of November 4, 2026
Shared voting power14,605,486 Common SharesReported by the reporting persons
Shared dispositive power15,064,087 Common SharesReported by the reporting persons
Common Shares outstanding145,971,346 sharesAs of November 4, 2026
Key Terms
beneficially own, Shared Voting Power, Shared Dispositive Power
3 terms
beneficially ownregulatory
"The Reporting Persons beneficially own, in the aggregate, 15,064,087 Common Shares."
Beneficially own means having the economic rights and risks of a security—such as the right to receive dividends, sell the shares, or profit from price changes—whether or not your name appears on the official share register. Think of it like renting a car: you use it and reap the benefits even if the title lists someone else. Investors care because beneficial ownership determines who truly controls value, must be disclosed under securities rules, and can signal potential influence or trading activity that affects a stock’s price.
Shared Voting Powerregulatory
"Shared Voting Power 14,605,486.00"
Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.
Shared Dispositive Powerregulatory
"Shared Dispositive Power 15,064,087.00"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How many VGZ shares do Kopernik Global Investors and David B. Iben report owning?
Kopernik Global Investors, LLC and David B. Iben report aggregate beneficial ownership of 15,064,087 Vista Gold Corp. Common Shares, or 10.32% of the class. The percentage is based on 145,971,346 Common Shares outstanding as of November 4, 2026.
How many VGZ shares can Kopernik Global Investors and David B. Iben vote or dispose of?
They report shared voting power over 14,605,486 Common Shares and shared dispositive power over 15,064,087 Common Shares. They report zero sole voting power and zero sole dispositive power.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 1)
Vista Gold Corp.
(Name of Issuer)
Common Shares, no par value
(Title of Class of Securities)
927926303
(CUSIP Number)
10/31/2026
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
schemaVersion:
SCHEDULE 13G
CUSIP Number(s):
927926303
1
Names of Reporting Persons
Kopernik Global Investors, LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
14,605,486.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
15,064,087.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
15,064,087.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
10.32 %
12
Type of Reporting Person (See Instructions)
IA
Comment for Type of Reporting Person: Based on 145,971,346 common shares outstanding as of November 4, 2026 as set forth on the Toronto Stock Exchange under the symbol "VGZ."
SCHEDULE 13G
CUSIP Number(s):
927926303
1
Names of Reporting Persons
David B. Iben
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
14,605,486.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
15,064,087.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
15,064,087.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
10.32 %
12
Type of Reporting Person (See Instructions)
HC
Comment for Type of Reporting Person: Based on 145,971,346 common shares outstanding as of November 4, 2026, as set forth on the Toronto Stock Exchange under the symbol "VGZ."
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Vista Gold Corp.
(b)
Address of issuer's principal executive offices:
Suite 300 - 8310 S Valley Hwy, Englewood, CO 8011
Item 2.
(a)
Name of person filing:
This Schedule 13G is jointly filed by Kopernik Global Investors, LLC ("Kopernik Global Investors") and
David B. Iben (collectively, the "Reporting Persons"). Kopernik Global Investors is an investment adviser. Mr. Iben is the controlling member and Co-Chief Investment Officer of Kopernik Global Investors.
(b)
Address or principal business office or, if none, residence:
2502 N. Rocky Point Dr. Suite 300
Tampa, FL 33607
(c)
Citizenship:
Kopernik Global Investors is a limited liability company organized under the laws of Delaware. Mr. Iben is a citizen of the United States of America.
(d)
Title of class of securities:
Common Shares, no par value
(e)
CUSIP No.:
927926303
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
The Reporting Persons beneficially own, in the aggregate, 15,064,087 Common Shares. None of the securities are held by the Reporting Persons. The filing of this statement shall not be construed as an admission that either of the Reporting Persons is the beneficial owner of any of the securities covered by this Schedule 13G for any other purpose.
(b)
Percent of class:
The number of Common Shares beneficially owned by the Reporting Persons represents 10.32% of the Issuer's outstanding Common Shares based on 145,971,346 common shares outstanding as of November 4, 2026 as set forth on the Toronto Stock Exchange under the symbol "VGZ."
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
0
(ii) Shared power to vote or to direct the vote:
14,605,486
(iii) Sole power to dispose or to direct the disposition of:
0
(iv) Shared power to dispose or to direct the disposition of:
15,064,087
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
Not Applicable
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Kopernik Global Investors, LLC
Signature:
/s/ Sarah L. Bertrand
Name/Title:
Sarah L. Bertrand, General Counsel and Chief Compliance Officer
Date:
11/04/2026
David B. Iben
Signature:
/s/ David B. Iben by Sarah L. Bertrand, power of attorney
Name/Title:
/s/ David B. Iben by Sarah L. Bertrand, power of attorney
Date:
11/04/2026
Exhibit Information
99.1 Joint Filing Agreement, dated May 14, 2026, by and between Kopernik Global Investors, LLC and David B. Iben is incorporated herein by reference to Exhibit 99.1 of Schedule 13G filed with the SEC via EDGAR Accession No. 0000930413-26-001602 on May 14, 2026.
99.2 Power of Attorney appointing Sarah L. Bertrand, dated October 25, 2024, signed by David B. Iben is incorporated herein by reference to Exhibit 99.2 of Schedule 13G filed with the SEC via EDGAR Accession No. 0000930413-26-001602 on May 14, 2026.
