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Subsequent Event
 12 Months Ended
Dec. 31, 2012
Subsequent Events [Abstract]  
Subsequent Event

13. Subsequent event

 

          In March 2013 Solitario signed a binding Letter of Intent (“LOI”) related to its Pachuca project in Mexico with Minera Hochschild Mexico S.A. de C.V. (“Hochschild”), a wholly owned subsidiary of Hochschild Mining plc. The LOI provides for Hochschild to earn a 51% interest in the Pachuca project by funding the following exploration commitments from the signing of a definitive agreement:

 

Due Dates Expenditures (US$)
18 months $ 2,000,000
36 months $ 3,000,000
60 months $ 5,000,000
Total $ 10,000,000

 

Hochschild will have the option to earn an additional 19% (total interest 70%) in the project by funding all project expenditures necessary to complete a positive feasibility study. Hochschild will manage the operations and has the right to terminate the joint venture at any time. Currently, we are working on negotiating a definitive joint venture agreement with Hochschild. There can be no assurance that such an agreement will ultimately be signed.