SCHEDULE 13G

CUSIP No.

927926303

Names of Reporting Persons

Sun Valley Gold LLC

Check the appropriate box if a member of a Group (see instructions)

(a)

(b)

Sec Use Only

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 16,498,327.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 16,498,327.00

Aggregate Amount Beneficially Owned by Each Reporting Person

16,498,327.00

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

Checkbox not checked

Percent of class represented by amount in row (9)

13.2 %

Type of Reporting Person (See Instructions)

SCHEDULE 13G

CUSIP No.

927926303

Names of Reporting Persons

Pamedo Holdings LLLP

Check the appropriate box if a member of a Group (see instructions)

(a)

(b)

Sec Use Only

Citizenship or Place of Organization

NEVADA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 16,498,327.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 16,498,327.00

Aggregate Amount Beneficially Owned by Each Reporting Person

16,498,327.00

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

Checkbox not checked

Percent of class represented by amount in row (9)

13.2 %

Type of Reporting Person (See Instructions)

SCHEDULE 13G

CUSIP No.

927926303

Names of Reporting Persons

Sun Valley Gold Master Fund, Ltd.

Check the appropriate box if a member of a Group (see instructions)

(a)

(b)

Sec Use Only

Citizenship or Place of Organization

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 13,728,729.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 13,728,729.00

Aggregate Amount Beneficially Owned by Each Reporting Person

13,728,729.00

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

Checkbox not checked

Percent of class represented by amount in row (9)

11.0 %

Type of Reporting Person (See Instructions)

SCHEDULE 13G

CUSIP No.

927926303

Names of Reporting Persons

Peter F. Palmedo

Check the appropriate box if a member of a Group (see instructions)

(a)

(b)

Sec Use Only

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 16,498,327.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 16,498,327.00

Aggregate Amount Beneficially Owned by Each Reporting Person

16,498,327.00

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

Checkbox not checked

Percent of class represented by amount in row (9)

13.2 %

Type of Reporting Person (See Instructions)

SCHEDULE 13G

Item 1.

(a)

Name of issuer:

Vista Gold Corp.

(b)

Address of issuer's principal executive offices:

8310 S. Valley Hwy, Suite 300, Englewood, Colorado 80112

Item 2.

(a)

Name of person filing:

Sun Valley Gold LLC Palmedo Holdings LLLP Sun Valley Gold Master Fund, Ltd. Peter F. Palmedo

(b)

Address or principal business office or, if none, residence:

Sun Valley Gold LLC 620 Sun Valley Road, 2nd Floor P.O. Box 2211 Ketchum, ID 83340 Palmedo Holdings LLLP 620 Sun Valley Road, 2nd Floor P.O. Box 2211 Ketchum, ID 83340 Sun Valley Gold Master Fund, Ltd. 620 Sun Valley Road, 2nd Floor P.O. Box 2211 Ketchum, ID 83340 Peter F. Palmedo 620 Sun Valley Road, 2nd Floor P.O. Box 2211 Ketchum, ID 83340

(c)

Citizenship:

Sun Valley Gold LLC - Delaware Palmedo Holdings LLLP - Other - Nevada Sun Valley Gold Master Fund, Ltd. - Cayman Islands Peter F. Palmedo - United States

(d)

Title of class of securities:

Common Shares without 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:

Sun Valley Gold LLC - 16,498,327 Palmedo Holdings LLLP - 16,498,327 Sun Valley Gold Master Fund, Ltd. - 13,728,729 Peter F. Palmedo - 16,498,327

(b)

Percent of class:

Sun Valley Gold LLC - 13.2% Palmedo Holdings LLLP - 13.2% Sun Valley Gold Master Fund, Ltd. - 11.0% Peter F. Palmedo - 13.2%

(c)

Number of shares as to which the person has:

(i) Sole power to vote or to direct the vote:

Sun Valley Gold LLC - 0 Palmedo Holdings LLLP - 0 Sun Valley Gold Master Fund, Ltd. - 0 Peter F. Palmedo - 0

(ii) Shared power to vote or to direct the vote:

Sun Valley Gold LLC - 16,498,327 Palmedo Holdings LLLP - 16,498,327 Sun Valley Gold Master Fund, Ltd. - 13,728,729 Peter F. Palmedo - 16,498,327

(iii) Sole power to dispose or to direct the disposition of:

Sun Valley Gold LLC - 0 Palmedo Holdings LLLP - 0 Sun Valley Gold Master Fund, Ltd. - 0 Peter F. Palmedo - 0

(iv) Shared power to dispose or to direct the disposition of:

Sun Valley Gold LLC - 16,498,327 Palmedo Holdings LLLP - 16,498,327 Sun Valley Gold Master Fund, Ltd. - 13,728,729 Peter F. Palmedo - 16,498,327

Item 5.

Ownership of 5 Percent or Less of a Class.

Item 6.

Ownership of more than 5 Percent on Behalf of Another Person.

If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required.

All of the securities reported in this Schedule 13G are directly owned by advisory clients of Sun Valley Gold LLC. None of those advisory clients, other than Sun Valley Gold Master Fund, Ltd., may be deemed to beneficially own more than 5% of the Common Shares without par value.

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 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.

Sun Valley Gold LLC

Signature:	/s/ Peter F. Palmedo
Name/Title:	Peter F. Palmedo/Managing Member
Date:	08/13/2025

Pamedo Holdings LLLP

Signature:	/s/ Peter F. Palmedo
Name/Title:	Peter F. Palmedo/General Partner
Date:	08/13/2025

Sun Valley Gold Master Fund, Ltd.

Signature:	/s/ Peter F. Palmedo
Name/Title:	Peter F. Palmedo/Director
Date:	08/13/2025

Peter F. Palmedo

Signature:	/s/ Peter F. Palmedo
Name/Title:	Peter F. Palmedo
Date:	08/13/2025

Comments accompanying signature: * Each Reporting Person disclaims beneficial ownership of the reported securities except to the extent of his, her or its pecuniary interest therein, and this report shall not be deemed an admission that such Reporting Person is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose. To the extent that "ownership of 5 percent or less of a class" was indicated in Item 5, such response only applies to the Reporting Person(s) that indicated elsewhere herein that it beneficially owns five percent (5%) or less of the class.

Exhibit Information

Exhibit A - Joint Filing Agreement