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Other Assets
 3 Months Ended
Mar. 31, 2021
Other Assets [Abstract]  
Other Assets

The following items comprised other assets:

 

(in thousands)   March 31,     December 31,  
    2021     2020  
Furniture and fixtures, net of accumulated depreciation   $ 33     $ 34  
Lik project equipment, net of accumulated depreciation     25       30  
Office lease asset     97       7  
Vendetta warrants     46       49  
Exploration bonds and other assets     4       4  
Total other   $ 205     $ 124  

 

Vendetta Warrants

 

On July 31, 2019, Solitario purchased 3,450,000 Vendetta units for a total of $233,000. Each Vendetta unit consisted of one share of Vendetta common stock and one Vendetta warrant (the “Vendetta Warrants”). Each Vendetta Warrant entitles the holder to purchase one additional share of Vendetta common stock for a purchase price of Cdn$0.13 per share for a period of three years. On the purchase date Solitario recorded marketable equity securities of $165,000 for the Vendetta shares acquired and $68,000 for the Vendetta Warrants based upon an allocation of the purchase price of the Vendetta units, based upon (i) the fair value of the Vendetta common shares received, based upon the quoted market price for Vendetta common shares and (ii) the fair value of Vendetta Warrants based upon a Black Scholes model. During the three months ended March 31, 2021 and 2020, Solitario charged loss on derivative instruments $3,000 and $7,000, respectively, for the change in the fair value of the Vendetta Warrants based on a Black Scholes model.