Be very wary of a company like this. No income and no inventory. The company holds alot of real estate mines but the company bought these from other big gold mine companies that have mined and combed every inch of the land and discovered little or no gold. Unless Vista Gold has a unique way of finding gold, you will see that the company will discover little or no gold as well.
Another concern is the stock offering. The offering will be to insiders only and at a price of $6.00 to $7.00 per share. As you can see, the insiders will be in the money immediately and will profit off of the little guys who bought at $12 per share.
What you say is not 100% true! VGZ operate Hycroft in the past and before they start the buying expansion plan they own already a few mines/concession. It is highly possible that they find a deposit deep underground in Hycroft or in other Nevada claims. When VGZ start to buy other mine to other compagnies the GOLD was at 350/400$ and the GOLD is now at +600$. The value of these deposit is more important now.
I am not older of VGZ anymore but I have hold some in the past(a lot in fact)and my first buy was at 1,4$. The company had only 3,3 millions shares(split adjusted). I am not ready to buy at this price, the potential and perspective are not clear enough and I start to find the company a little expensive. After all, they still have no clear plan to open any mine yet!
...also take a look into Mexico, nice surprise sitting there with what they're in at. Top geologists, gold hoarder..very few of those around and VGZ is one of them. Why mine now when you can become the mine....if you know what I mean...