Inventories, net

3 Months Ended

Mar. 31, 2021

5. Inventories, net

Inventories at the Rodeo operation at March 31, 2021 and December 31, 2020 consist of the following:


	March 31,		December 31,
	2021		2020
	(in thousands)
Doré inventory	$	832	$	0
In-process inventory		516		0
Material and supplies	$	492	$	284
	$	1,840	$	284

The Company records its doré and in-process inventories at the lower of cost or net realizable value. At March 31, 2021, the Company had written down its doré inventory to net realizable value including a charge to the cost of metals sold of approximately $17,000. Doré and in-process inventories also include $58,000 of capitalized depreciation and amortization.

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