Other Liabilities

12 Months Ended

Dec. 31, 2019

Other Liabilities

Other Liabilities

14.Other Liabilities

Other Current Liabilities

The following table sets forth the Company’s other current liabilities at December 31, 2019 and 2018:

	Year Ended
	December 31,
	2019		2018
	(in thousands)
Autlán refundable deposit	$	1,251	$	—
Premium financing		455		—
Office lease liability		118		12
	$	1,824	$	12

The Autlán refundable deposit at December 31, 2019 is the remaining principal plus interest liability related to the deposit received for the proposed sale of our Velardeña Properties and other mineral concessions to Autlán (see Note 1). As a result of termination of the Agreement, the Company is required to repay the original $1.5 million deposit amount by making monthly payments of $257,000, commencing on December 9, 2019, until the deposit amount is repaid with interest at approximately 11% per annum. Through December 31, 2019 the Company paid Autlán approximately $0.3 million against the original $1.5 million deposit, including interest of approximately $11,000, leaving a balance due at December 31, 2019 of approximately $1.3 million, including accrued interest. The Company recorded approximately $19,000 of interest expense for the year ended December 31, 2019 related to the Autlán refundable deposit.

The premium financing at December 31, 2019 consists of the remaining balance, plus accrued interest, related to premiums payable for the Company’s directors and officers insurance and general liability insurance. In June 2019 the company financed $151,000 of its premium for general liability insurance. The premium is payable in twelve equal payments at an interest rate of 5.74% per annum. At December 31, 2019, the remaining balance, plus accrued interest, was approximately $51,000. In December 2019 the company financed $482,000 of its premium for directors and officers insurance. The premium is payable in twelve equal payments at an interest rate of 5.74% per annum. At December 31, 2019 the remaining balance, plus accrued interest, was approximately $404,000.

The office lease liability is related to lease liabilities for office space at the Company’s principal headquarters in Golden, Colorado and in Mexico and Argentina (see Note 5).

Other Long-Term Liabilities

Other long-term liabilities of $0.5 million for the period ended December 31, 2019 are primarily related to lease liabilities for office space at the Company’s principal headquarters in Golden Colorado and in Mexico and Argentina (see Note 5).