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Derivative Instruments | 12 Months Ended
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Dec. 31, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Derivative Instruments | 6. Derivative Instruments: Covered call options From time to time Solitario has sold covered call options against its holdings of Kinross. The business purpose of selling covered calls is to provide additional income on a limited portion of shares of Kinross that Solitario may sell in the near term, which is generally defined as less than one year. Solitario has not designated its covered calls as hedging instruments as described in ASC 815, “Derivatives and Hedging,” and any changes in the fair value of its covered calls are recognized in the statement of operations in the period of the change. As of December 31 2017, all of the covered calls had expired unexercised and there were no liabilities related to those calls entered during the year. As of December 31, 2016, Solitario had two covered calls against its holdings of Kinross common stock, which had a fair value of $2,000. Vendetta Warrants All of the Vendetta Warrants were exercised during 2017 and there is no remaining asset value as of December 31, 2017 for the Vendetta Warrants; see Note 4, “Other Assets” above. Solitario recorded the following gain on derivative instruments:
(in thousands) | Year ended December 31,
| 2017 | 2016
Gain on Kinross calls | $ 55 | $ 43
Gain on Vendetta Warrants | 216 | 629
| $271 | $672
The following table provides the location and amount of the fair values of Solitario's derivative instruments presented in the consolidated balance sheets as of December 31, 2017 and 2016:
| Derivatives
(in thousands) | Balance Sheet Location | 2017 | 2016
Vendetta warrants | Other assets | $ - | $735
Kinross calls | Other current liabilities | $ - | $ 2

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- Definition The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -URI http://asc.fasb.org/topic&trid=2229140 + Details
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