XML 69 R19.htm IDEA: XBRL DOCUMENT

Mineral Property (Tables)

9 Months Ended

Sep. 30, 2013

Notes to Financial Statements

Mineral Property Investment in Mineral Property

(in thousands)	September 30,	December 31,
	2013	2012
Development (United States)
Mt. Hamilton	$11,399	$9,275
Exploration
Pachuca (Mexico)	20	20
Norcan (Mexico)	6	6
Aconchi (Mexico)	5	5
Canta Colorado (Peru)	3	3
La Promesa (Peru)	5	5
Cerro Azul (Peru)	-	3
Atico (Peru)	-	5
Jaripo (Mexico)	-	5
Total exploration	39	52
Total mineral property	$11,438	$9,327

Mineral Property Capitalized Development

(in thousands)	Three months ended September 30,		Nine months ended September 30,
	2013	2012	2013	2012
Development expenditures	$ 601	$ 1,448	$ 1,369	$ 2,211
Capitalized interest	184	-	557	-
Property payments	75	50	175	325
Capitalized depreciation	7	12	23	18
Total capitalized costs	$ 867	$ 1,510	$ 2,124	$ 2,554

Mineral Property Lease Modification

	June 1, 2013	June 1, 2014	June 1, 2015(1)	Remaining years (2)
Solitario common stock shares	35,000	35,000	66,500	-
Target value of Solitario shares (3)(4)	$ 50,000	$ 50,000	$ 95,000	$ -
Cash	50,000	50,000	75,000	190,000
Minimum lease payment value	$100,000	$100,000	$170,000	$190,000
Annual work commitments	-	-	-	$150,000
(1) The leases may be terminated after June 1, 2015. (2) The annual payments accelerate $2,000 per year after June 1, 2016. (3) The target value is determined based upon the 20-day average price on the NYSE-MKT prior to the relevant payment date. (4) To the extent the market value of the shares delivered is below the target value, the difference is paid in cash.

Mineral Property Exploration Expense

(in thousands)	Three months ended September 30,		Nine months ended September 30,
	2013	2012	2013	2012
Geologic and field expenses	$ 28	$432	$ 521	$1,003
Administrative	48	81	253	274
Mt. Hamilton exploration and development	-	(6)	-	308
Total exploration costs	$ 76	$ 507	$774	$1,585