XML 18 R8.htm IDEA: XBRL DOCUMENT v3.5.0.2

Mineral Property

6 Months Ended

Jun. 30, 2016

Property, Plant and Equipment [Abstract]

Mineral Property

2.        Mineral Property

The following table details Solitario’s investment in Mineral Property:

(in thousands)	June 30,	December 31,
	201	2015
Exploration
La Promesa (Peru)	$  6	$  6
Montana royalty property	40	-
Canta Colorado (Peru)	3	3
Norcan (Mexico)	-	5
Aconchi (Mexico)	-	5
Total exploration mineral property	$49	$19

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. During the three and six months ended June 30, 2016 Solitario acquired certain net smelter royalty, previously owned by Atna Resources Ltd., for $40,000.

Discontinued projects

During the three and six months ended June 30, 2016, Solitario closed its exploration office in Mexico. Solitario sold its Norcan and Aconchi exploration projects in Mexico for a retained a 1% royalty on both the Norcan and Aconchi properties. Solitario recorded a mineral property write-down of $10,000 related to the Norcan and Aconchi properties during the three and six months ended June 30, 2016. In addition Solitario recorded a loss on other assets in Mexico of $14,000 related to the exit from its exploration activities in Mexico during the three and six months ended June 30, 2016.

Solitario did not record any mineral property write-downs during the three and six months ended June 30, 2015.

Capitalization of Mt. Hamilton cost during 2015

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 Mt. Hamilton. Solitario sold its interest in the Mt. Hamilton project on August 25, 2015 through the Transaction. Capitalization of costs for the three and six months ended June 30, 2015, prior to the Transaction, is detailed in the following table

(in thousands)	Three months ended June 30,	Six months ended June 30,
	2015	2015
Development expenditures	$335	$491
Capitalized interest	170	339
Property payments	190	190
Capitalized depreciation	3	5
Total capitalized costs	$ 698	$ 1,025

Exploration expense

The following items comprised exploration expense:

(in thousands)	Three months ended June 30,		Six months ended June 30,
	2016	2015	2016	2015
Geologic and field expenses	$172	$(3)	$248	$15
Administrative	48	10	94	17
Total exploration costs	$ 220	$ 7	$ 342	$ 32

X

- References

No definition available.

+ Details

Name:	us-gaap_PropertyPlantAndEquipmentAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(13))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name:	us-gaap_PropertyPlantAndEquipmentTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration