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Marketable Equity Securities

3 Months Ended

Mar. 31, 2021

Investments, Debt and Equity Securities [Abstract]

Marketable Equity Securities

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 months ended March 31, 2021, Solitario recorded an unrealized loss on marketable equity securities of $122,000. During the three months ended March 31, 2020, Solitario recorded an unrealized loss on marketable equity securities of $233,000.

At March 31, 2021 and December 31, 2020 Solitario owns the following marketable equity securities:

		March 31 2021								December 31 2020
		shares				Fair value (000’s)				shares				Fair value (000’s)
Kinross Gold Corp			100,000			$	667				100,000			$	734
Vendetta Mining Corp.			10,540,000				503				11,550,000				544
Vox Royalty Corp.			134,055				256				137,255				323
TNR Gold Corp.			143,000				7				430,000				19
Total						$	1,433							$	1,620

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

(in thousands)		March 31, 2021				December 31, 2020
Marketable equity securities at cost		$	2,034			$	2,099
Cumulative unrealized loss on marketable equity securities			(601	)			(479	)
Marketable equity securities at fair value		$	1,433			$	1,620

The following table represents changes in marketable equity securities during the three months ended March 31, 2021 and 2020:

(in thousands)		Three months ended March 31,
		2021				2020
Cost of marketable equity securities sold		$	65			$	51
Realized gain on marketable equity securities sold			13				25
Proceeds from the sale of marketable equity securities sold			(78	)			(76	)
Net loss on marketable equity securities			(109	)			(208	)
Change in marketable equity securities at fair value		$	(187	)		$	(284	)

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

(in thousands)		Three months ended March 31,
		2021				2020
Unrealized loss on marketable securities		$	(122	)		$	(233	)
Realized gain on marketable equity securities sold			13				25
Net loss on marketable securities		$	(109	)		$	(208	)

During the three months ended March 31, 2021, Solitario sold (i) 1,010,000 shares of Vendetta Mining Corp. (“Vendetta) common stock for proceeds of $51,000 and recorded a loss on sale of $2,000; (ii) 287,000 shares of TNR Gold Corp. common stock for proceeds of $18,000 and recorded a gain on sale of $13,000 and (iii) 3,200 shares of Vox for proceeds of $9,000 and recorded a gain on sale of $2,000. During the three months ended March 31, 2020, Solitario sold 2,000,000 shares of Vendetta common stock for proceeds of $76,000 and recorded a gain on sale of $25,000 on the date of sale.