MARKETABLE SECURITIES (Tables)

9 Months Ended

Sep. 30, 2023

Cash and Cash Equivalents [Abstract]

The following table summarizes our marketable securities by significant investment categories as of September 30, 2023:


	Cost Basis		Gross Unrealized Losses		Gross Unrealized Gains		Fair Value
Marketable debt securities(1)	$	68,981	$	—	$	437	$	69,418
Convertible note(2)	39,638		—		6,972		46,610
Marketable equity securities	2,876		(1,671)		—		1,205
Total marketable securities	$	111,495	$	(1,671)	$	7,409	$	117,233

(1) Marketable debt securities are comprised primarily of U.S. Treasury Bills and Government Agency Bonds and mutual funds.

(2) The Convertible Note was received as partial consideration in the Alta Mesa Transaction (defined in Note 5 – Property, Plant and Equipment and Mineral Properties) and is valued using a binomial lattice model using Level 3 inputs. As of September 30, 2023, the enCore share price was above the Conversion Option (defined below) resulting in an unrealized gain. During the three and nine months ended September 30, 2023, enCore redeemed $20.00 million of the principal amount of the Convertible Note. See Note 5 – Property, Plant and Equipment and Mineral Properties and Note 13 – Fair Value Accounting for more information.

The following table summarizes our marketable securities by significant investment categories as of December 31, 2022:


	Cost Basis		Gross Unrealized Losses		Gross Unrealized Gains		Fair Value
Marketable debt securities(1)	$	11,435	$	(310)	$	—	$	11,125
Marketable equity securities	2,876		(1,809)		—		1,067
Total marketable securities	$	14,311	$	(2,119)	$	—	$	12,192

(1) Marketable debt securities are comprised primarily of U.S. government agency bonds.