Inventories, net

12 Months Ended

Dec. 31, 2021

Inventories, net

Inventories, net

5. Inventories

Inventories at the Velardeña Properties were as follows:

	December 31,		December 31,
	2021		2020
	(in thousands)
Doré inventory	$	446	$	0
In-process inventory		668		0
Material and supplies	$	459	$	284
	$	1,573	$	284

Doré and in-process inventories, recorded at book value, include approximately $21,000 of capitalized depreciation and amortization. Doré inventory at December 31, 2021 consists of 626 payable ounces of gold and 1,958 payable ounces of silver.

The materials and supplies inventories at December 31, 2021 and December 31, 2020 are primarily related to the Rodeo operation and are reduced by a $0.3 million and $0.2 million obsolescence reserve, respectively.