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Derivative Instruments

9 Months Ended

Sep. 30, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments

5.        Derivative Instruments

Vendetta Warrants

During the three and nine months ended September 30, 2017, Solitario exercised its remaining Vendetta Warrants, discussed above in Note 3, “Marketable Equity Securities.” As a result, as of September 30, 2017, Solitario owned no Vendetta Warrants. During the three and nine months ended September 30, 2017, Solitario recorded a (loss) / gain on derivative instruments of $(31,000) and $215,000, respectively, related to the Vendetta Warrants, prior to the date of their exercise. Solitario owned no Vendetta Warrants as of September 30, 2018.

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 liquidity 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 and records gains or loss on the covered call in the period of the change.

Solitario recorded the following gain on derivative instruments:

(in thousands)	Three months ended September 30,		Nine months ended September 30,
	2018	2017	2018	2017
Gain on Kinross calls	$  -	$  13	$  -	$  52
Gain on Vendetta Warrants	-	(31)	-	215
	$  -	$(18)	$  -	$267

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- References

No definition available.

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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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-URI http://asc.fasb.org/topic&trid=2229140

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