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Marketable Equity Securities

6 Months Ended

Jun. 30, 2020

Investments, Debt and Equity Securities [Abstract]

Solitario's investments in marketable equity securities are carried at fair value, which is based upon quoted prices of the securities owned. The cost of marketable equity securities sold is determined by the specific identification method. Changes in market value are recorded in the condensed consolidated statement of operations. During the three and six months ended June 30, 2020, Solitario recorded an unrealized gain on marketable equity securities of $484,000 and $251,000, respectively. During the three and six months ended June 30, 2019, Solitario recorded an unrealized loss on marketable equity securities of $63,000 and $389,000, respectively.

The following tables summarize Solitario’s marketable equity securities and adjustments to fair value:

(in thousands)	June 30, 2020			December 31, 2019
Marketable equity securities at cost	$	2,122		$	1,879
Cumulative unrealized loss on marketable equity securities		(589	)		(840	)
Marketable equity securities at fair value	$	1,533		$	1,039

The following table represents changes in marketable equity securities:

(in thousands)	Three months ended June 30,					Six months ended June 30,
	2020		2019			2020			2019
Cost of marketable equity securities sold	$	-	$	-		$	51		$	-
Realized gain on marketable equity securities sold		-		-			25			-
Proceeds from the sale of marketable equity securities sold		-		-			(76	)		-
Net gain (loss) on marketable equity securities		484		(63	)		276			(389	)
Additions to marketable equity securities		294		-			294			-
Change in marketable equity securities at fair value	$	778	$	(63	)	$	494		$	(389	)

The following table represents the realized and unrealized gain (loss) on marketable equity securities:

(in thousands)	Three months ended June 30,					Six months ended June 30,
	2020		2019			2020		2019
Unrealized gain (loss) on marketable securities	$	484	$	(63	)	$	251	$	(389	)
Realized gain on marketable equity securities sold		-		-			25		-
Net gain (loss) on marketable securities	$	484	$	(63	)	$	276	$	(389	)

Solitario sold 2,000,000 shares of Vendetta Mining Corp. (“Vendetta”) common stock during the six months ended June 30, 2020 for proceeds of $76,000 and recorded a gain on sale of $25,000 on the date of sale. Solitario did not sell any marketable equity securities during the three months ended June 30, 2020 or June 30, 2019 nor during the six months ended June 30, 2019. The change in the fair value of marketable equity securities during the three and six months ended June 30, 2019 was related entirely to the unrealized loss on marketable equity securities related to their fair values based upon quoted market prices for the marketable equity securities held by Solitario during that period.

On May 19, 2020, Solitario received 137,255 shares of Vox upon conversion of the SilverStream Note, discussed above, valued at $294,000.