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Long Term Debt
 3 Months Ended
Mar. 31, 2012
Notes to Financial Statements  
Long Term Debt

4.       Long-term debt

 

          The following is the schedule of debt payments due Augusta Resources Corporation ("Augusta") as of March 31, 2012 and December 31, 2011:

 

Payment date

March 31,

2011

December 31,

2011

June 1, 2012 $750,000  750,000 
June 1, 2013 750,000  750,000 
June 1, 2014 750,000  750,000 
June 1, 2015 1,000,000  1,000,000 
Unamortized discount (395,000) (448,000)
Total 2,855,000  2,802,000 
Current portion 741,000  727,000 
Long-term debt $2,114,000  $2,075,000 

 

 

          During the three months ended March 31, 2012 and 2011, Solitario recorded $53,000 and $64,000, respectively, of interest expense for accretion of the debt discount related to MH-LLC long-term debt due to Augusta. During the three months ended March 31, 2011 Solitario made a payment of $500,000 of principal on the long-term debt to DHI-US, which in turn was paid to Augusta.