X0202 SCHEDULE 13G 0001599814 XXXXXXXX LIVE Common Shares, no par value 03/31/2026 0000783324 VISTA GOLD CORP 927926303 8310 S. VALLEY HWY, SUITE 300 ENGLEWOOD CO 80112 Rule 13d-1(b) Kopernik Global Investors, LLC b DE 0.00 13632349.00 0.00 14090950.00 14090950.00 N 9.65 IA Based on 145,971,346 common shares outstanding as of March 31, 2026 as set forth in the Issuer's Interim Condensed Consolidated Financial Statements for the three-month period ended March 31, 2026 filed by the Issuer on Form 10-Q with the Securities and Exchange Commission on April 30, 2026. David B. Iben b X1 0.00 13632349.00 0.00 14090950.00 14090950.00 N 9.65 HC Based on 145,971,346 common shares outstanding as of March 31, 2026 as set forth in the Issuer's Interim Condensed Consolidated Financial Statements for the three-month period ended March 31, 2026 filed by the Issuer on Form 10-Q with the Securities and Exchange Commission on April 30, 2026. VISTA GOLD CORP Suite 300 - 8310 S Valley Hwy, Englewood, CO 80112 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. 2502 N. Rocky Point Dr. Suite 300 Tampa, FL 33607 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. N IA HC The Reporting Persons beneficially own, in the aggregate, 14,090,950 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. The number of Common Shares beneficially owned by the Reporting Persons represents 9.65% of the Issuer's outstanding Common Shares based on 145,971,346 common shares outstanding as of March 31, 2026 as set forth in the Issuer's Interim Condensed Consolidated Financial Statements for the three month period ended March 31, 2026 filed by the Issuer on Form 10-Q with the Securities and Exchange Commission on April 30, 2026. 0 13,632,349 0 14,090,950 Y N Securities reported on this Schedule 13G are beneficially owned by investment advisory clients which may include investment companies registered under the Investment Company Act and/or other separately managed accounts. No such person beneficially owns over 5%. Y Y Y N 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. 99.1 Joint Filing Agreement, dated May 14, 2026, by and between Kopernik Global Investors, LLC and David B. Iben. 99.2 Power of Attorney appointing Sarah L. Bertrand, dated October 25, 2024, signed by David B. Iben. Kopernik Global Investors, LLC /s/Sarah L. Bertrand 05/14/2026 David B. Iben /s/ David B. Iben by Sarah L. Bertrand, power of attorney 05/14/2026