Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2020

Schedule of Liabilities Measured on Recurring Basis

The following table presents our assets at June 30, 2020, measured at fair value on a recurring basis:



			Fair Value Measurements at
			June 30, 2020
	Total		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Convertible preferred shares of Tonogold (Note 19)	$	7,935,000	$	—	$	—	$	7,935,000
Common shares of Tonogold (Note 19)	2,461,656		2,461,656		—		—
Contingent forward asset	2,646,334		—		—		2,646,334
Total Assets	$	13,042,990	$	2,461,656	$	—	$	10,581,334

The following table presents our assets and liabilities at December 31, 2019, measured at fair value on a recurring basis:



			Fair Value Measurements at
			December 31, 2019
	Total		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Convertible preferred shares of Tonogold (Note 19)	$	9,080,000	$	—	$	—	$	9,080,000
Total Assets	$	9,080,000	$	—	$	—	$	9,080,000

Liabilities:
Accrued make-whole for Pelen LLC (Note 18)	$	222,602	$	—	$	222,602	$	—
Accrued make-whole for Mercury Clean Up LLC (Note 18)	452,740		—		452,740		—
Total Liabilities	$	675,342	$	—	$	675,342	$	—

Schedule of Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation

The following tables provide reconciliation between the beginning and ending balance of investments measured at fair value on a recurring basis using significant unobservable inputs (Level 3).



	Three Months Ended June 30,					Six Months Ended June 30,
	2020			2019		2020			2019
Beginning balance	$	11,090,243		$	—	$	9,080,000		$	—
Total gains or losses recognized in earnings	591,091			—		1,368,382			—
Additions				4,995,000		1,232,952			4,995,000
Transfers to Level 1	(1,100,000		)	—		(1,100,000		)	—
Ending balance	$	10,581,334		$	4,995,000	$	10,581,334		$	4,995,000