Inventories

9 Months Ended

Sep. 30, 2023

Inventories

Inventories

7. Inventories

Inventories at the Velardeña Properties were as follows:

	September 30,		December 31,
	2023		2022
	(in thousands)
Doré inventory	$	39	$	230
In-process inventory		—		572
Material and supplies, net		266		569
	$	305	$	1,371

Doré and in-process inventories, recorded at book value, include approximately $2,000 and $28,000 of capitalized depreciation and amortization at September 30, 2023 and December 31, 2022, respectively. Doré inventory at September 30, 2023 consists of 21 payable ounces of gold and 58 payable ounces of silver. Doré inventory at December 31, 2022 consists of 157 payable ounces of gold and 652 payable ounces of silver.

The materials and supplies inventories are primarily related to the Velardeña operation and are reduced by a $0.3 million obsolescence reserve at September 30, 2023 and December 31, 2022.