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Short-term and Other Investments
6 Months Ended
Jun. 30, 2020
Short-term and Other Investments  
Short-term and Other Investments

3. Short-term and Other Investments

Short-term investments

As of June 30, 2020, and December 31, 2019, the amortized cost basis of our short-term investments was $3,294 and $3,260, respectively, which approximates fair value. Short-term investments at June 30, 2020 and December 31, 2019 were comprised of U.S. and Australian 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 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 June 30, 2020, and December 31, 2019, the Company held 4,667,615 and 6,882,115 Midas Gold Shares, respectively. The Company also held 1,333,334 Nusantara Shares as of June 30, 2020 and December 31, 2019. The fair value of other investments was $2,692 and $3,676 as of June 30, 2020 and December 31, 2019, respectively. During the three months ended June 30, 2020, the Company sold 1,572,500 Midas Gold Shares for net proceeds of $654, at a gain of $135 based on the most recent measurement period of March 31, 2020. During the six months ended June 30, 2020, the Company sold 2,214,500 Midas Gold Shares for net proceeds of $954, at a gain of $120 based on the most recent measurement periods of March 31, 2020 and December 31, 2019. Cumulative realized loss since acquisition of these Midas Gold Shares in April 2011 was $4,730, of which $4,850 was recognized in previous periods as unrealized loss, net. No Midas Gold Shares were sold during the three and six months ended June 30, 2019.