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Other Assets
 9 Months Ended
Sep. 30, 2016
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Other Assets

4.        Other Assets

 

The following items comprised other assets:

 

(in thousands)  September 30, December 31,
  2016 2015
Furniture and Fixtures, net of accumulated depreciation   $   33    $ 41 
Vendetta Warrants 412  -  
Exploration bonds and other assets   4    4 
Total other assets $ 449  $ 45 

 

During the nine months ended September 30, 2016 Solitario purchased 7,240,000 units of Vendetta for aggregate consideration of $289,000. Each unit included one common share of Vendetta and one purchase warrant which allows the holder to purchase one share of Vendetta common stock at a price of Cdn$0.10 per share for a period of two years (the “Vendetta Warrants”). As of September 30, 2016, the common shares of Vendetta are carried at their fair value and included in marketable equity securities; see Note 3 “Marketable Equity Securities,” above. The Vendetta Warrants are carried at their fair value, based upon a Black-Scholes valuation model. During the three and nine months ended September 30, 2016, Solitario recorded a gain on derivative instruments of $91,000 and $306,000, respectively, related to the Vendetta Warrants, see Note 6, “Derivative Instruments,” below.