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Other Assets

3 Months Ended

Mar. 31, 2022

5. Other Assets

The following items comprised other assets:

(in thousands)	March 31,		December 31,
	2022		2021
Furniture and fixtures, net of accumulated depreciation	$	64	$	65
Lik project equipment, net of accumulated depreciation		5		10
Office lease asset		61		72
Vendetta warrants		2		3
Exploration bonds and other assets		4		4
Total other	$	136	$	154

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, 2022 and 2021, Solitario charged loss on derivative instruments $1,000 and $3,000, respectively, for the change in the fair value of the Vendetta Warrants based upon a Black Scholes model.