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Other Investments

12 Months Ended

Dec. 31, 2019

Other Investments

Other Investments

3. Other Investments

Short-term investments

As of December 31, 2019 and 2018, the amortized cost basis of our short-term investments was $3,260 and $6,997, respectively. The amortized cost basis approximates fair value at December 31, 2019 and 2018. Short-term investments at December 31, 2019 and 2018 are comprised of U.S. Government treasury bills and/or notes, all of which have maturity dates greater than 90 days but less than one year.

Other investments

Investments in marketable securities are recorded at fair value in the Consolidated Balance Sheets.  Subsequent changes in fair value are recorded in the Consolidated Statements of Income/(Loss) and Comprehensive Income/(Loss) in the period in which they occur. Most of our other investments are our investment in Midas Gold. We held 7,802,615 shares of Midas Gold at December 31, 2018. During the year ended December 31, 2019, the Company sold 920,500 Midas Gold Shares for net proceeds of $413 and a loss of $2 compared to the most recent measurement period. Cumulative realized loss since acquisition of these Midas shares was $1,975, of which $1,973 was recognized in previous periods as unrealized loss, net. We held 6,882,115 shares of Midas Gold at December 31, 2019. The Company also held 1,333,334 shares of Nusantara Resources Limited (“Nusantara Resources”) as of December 31, 2019. Of the $1,643 unrealized loss in 2019, $230 related to the 920,500 Midas Gold shares sold in 2019 and $1,413 related to the remaining Midas Gold and Nusantara Resources shares held at December 31, 2019.

The following table summarizes our investments in marketable securities as at December 31, 2019 and 2018.

		December 31, 2019			December 31, 2018
Fair value at beginning of period		$	5,462		$	3,746
Midas Gold Shares sold			(415)			—
Nusantara Resources shares			272			—
Unrealized gain/(loss)			(1,643)			1,716
Fair value at end of period		$	3,676		$	5,462

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