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Mineral Property
 9 Months Ended
Sep. 30, 2015
Property, Plant and Equipment [Abstract]  
Mineral Property

2.        Mineral Property

 

The following table details Solitario’s investment in exploration mineral property:

(in thousands)  September 30,  December 31,
   2015  2014
Exploration          
   La Promesa (Peru)   5    5 
   Norcan (Mexico)   6    6 
   Aconchi (Mexico)   5    5 
   Canta Colorado (Peru)   3    3 
     Total exploration mineral property  $19   $19 

 

Mt. Hamilton

 

On February 22, 2012, Solitario earned an 80% interest in MH-LLC as a result of the completion of a feasibility study on the Mt. Hamilton project (the “Feasibility Study”) prepared by SRK Consulting (US), Inc. of Lakewood, Colorado (“SRK”). In October 2014, SRK, on behalf of Solitario completed an updated feasibility study on the Mt. Hamilton project (the “Updated Feasibility Study”).

 

Solitario sold its interest in the Mt. Hamilton project on August 25, 2015 through the Transaction. Mt. Hamilton capitalized costs are included in discontinued operations at December 31, 2014.

 

Capitalized costs

Solitario began capitalizing its development costs incurred at its Mt. Hamilton project subsequent to the completion of the Feasibility Study. Capitalization of costs for the three and nine months ended September, 2015 and 2014 is detailed in the following table:

 

(in thousands)  Three months ended
September 30,		  Nine months ended
September 30,
   2015  2014  2015  2014
Development expenditures  $201   $543   $692   $1,383 
Capitalized interest   154    161    493    463 
Property payments   —      —      190    100 
Capitalized depreciation   2    4    7    20 
  Total capitalized costs  $357   $708   $1,382   $1,966 

 

All exploration costs on our other exploration properties, none of which have proven and probable reserves, including any additional costs incurred for subsequent lease payments or exploration activities related to our projects are expensed as incurred.

 

Mineral property write-down on exploration projects

 

Solitario did not record any mineral property write-downs to its exploration projects during the three and nine months ended September 30, 2015 and no mineral property write-downs to its exploration projects during the three months ended September 30, 2014. Solitario recorded $20,000 of mineral property write-downs during the nine months ended September 30, 2014 related to its Pachuca silver exploration property in Mexico.

 

During the nine months ended September 30 2015, Solitario terminated its joint venture with Anglo Platinum Ltd., “(Anglo”) on Pedra Branca Mineracao, Ltd. (“PBM”), the owner of the Pedra Branca exploration project in Brazil. Solitario had accounted for its interest in PBM on the equity method and had no remaining recorded value in PBM as of December 31, 2014 and September 30, 2015. Solitario retained a 1% royalty on the Pedra Branca project, for which Solitario has no other ownership interest. Solitario has no capital cost recorded with regard to Pedra Branca as of September 30, 2015 or December 31, 2014.

 

Exploration expense

 

The following items comprised exploration expense:

 

(in thousands)  Three months ended
September 30,		  Nine months ended
September 30,
   2015  2014  2015  2014
Geologic and field expenses  $9   $38   $24   $176 
Administrative   7    20    24    66 
Total exploration costs  $16   $58   $48   $242