Short-term and Other Investments |
9 Months Ended |
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Sep. 30, 2020 | |
Short-term and Other Investments | |
Short-term and Other Investments | 3. Short-term and Other Investments Short-term investments As of September 30, 2020, and December 31, 2019, the amortized cost basis of our short-term investments was $4,049 and $3,260, respectively, which approximates fair value. Short-term investments at September 30, 2020 and December 31, 2019 were comprised of U.S. government treasury securities and certificates of deposit, all of which had maturity dates on the date of purchase greater than 90 days but less than one year. Investments with maturity dates of 90 days or less are included in cash and cash equivalents. Other investments The Company’s investments in common shares of Midas Gold Corp. (“Midas Gold Shares”) and Nusantara Resources Limited shares (“Nusantara Shares”) were recorded at fair value in the Condensed Consolidated Balance Sheets. Subsequent changes in fair value were recorded in the Condensed Consolidated Statements of Comprehensive Income/(Loss) in the period in which they occurred. As of September 30, 2020, and December 31, 2019, the Company held nil and 6,882,115 Midas Gold Shares, respectively. The Company also held 1,333,334 Nusantara Shares as of September 30, 2020 and December 31, 2019. The fair value of other investments was $295 and $3,676 as of September 30, 2020 and December 31, 2019, respectively. During the three months ended September 30, 2020, the Company sold its remaining 4,667,615 Midas Gold Shares for net proceeds of $4,835, at a gain of $2,454 based on the most recent measurement period of June 30, 2020. During the nine months ended September 30, 2020, the Company sold 6,882,115 Midas Gold Shares for net proceeds of $5,788, at a gain of $2,574 based on the most recent measurement periods of June 30, 2020, March 31, 2020, and December 31, 2019. Cumulative realized loss since acquisition of these Midas Gold Shares in April 2011 was $11,841, of which $14,415 was recognized in previous periods as unrealized loss, net. No Midas Gold Shares were sold during the three and nine months ended September 30, 2019.
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