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Fair Value
 9 Months Ended
Sep. 30, 2019
Fair Value Disclosures [Abstract]  
Fair Value

Solitario accounts for its financial instruments under ASC 820. For certain of Solitario’s financial instruments, including cash and cash equivalents and payables, the carrying amounts approximate fair value due to their short-term maturities. Solitario’s short-term investments in USTS, marketable equity securities and Kinross calls are carried at their estimated fair value primarily based on quoted market prices. The Vendetta Warrants are carried at their fair value based upon a Black-Scholes model. During the three and nine months ended September 30, 2019 there were no reclassifications in financial assets or liabilities between Level 1, 2 or 3 categories.

 

The following is a listing of Solitario’s financial assets and liabilities required to be measured at fair value on a recurring basis and where they are classified within the hierarchy as of September 30, 2019:

 

(in thousands)   Level 1      Level 2      Level 3     Total   
Assets                        
  Short-term investments   $ 7,318     $ -     $ -     $ 7,318  
  Marketable equity securities   $ 1,014     $ -       -     $ 1,014  
  Vendetta Warrants   $ -     $ 27     $ -     $ 27  
Liabilities                                
  Kinross calls   $ -     $ 4     $ -     $ 4  

 

The following is a listing of Solitario’s financial assets and liabilities required to be measured at fair value on a recurring basis and where they are classified within the hierarchy as of December 31, 2018:

 

(in thousands)   Level 1     Level 2     Level 3     Total  
Assets                        
  Short-term investments   $ 10,223     $ -     $ -     $ 10,223  
  Marketable equity securities   $ 1,585     $ -     $ -     $ 1,585