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Marketable Equity Securities

6 Months Ended

Jun. 30, 2021

Marketable Equity Securities

3. Marketable Equity Securities

3. 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 and six months ended June 30, 2021, Solitario recorded an unrealized loss on marketable equity securities of $148,000 and $270,000, respectively. 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.

At June 30, 2021 and December 31, 2020 Solitario owns the following marketable equity securities:

		June 30, 2021								December 31, 2020
		shares				Fair value (000’s)				shares				Fair value (000’s)
Kinross Gold Corp			100,000			$	635				100,000			$	734
Vendetta Mining Corp.			10,540,000				383				11,550,000				544
Vox Royalty Corp.			134,055				263				137,255				323
TNR Gold Corp.			-				-				430,000				19
Total						$	1,281							$	1,620

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

(in thousands)		June 30, 2021				December 31, 2020
Marketable equity securities at cost		$	2,031			$	2,099
Cumulative unrealized loss on marketable equity securities			(750	)			(479	)
Marketable equity securities at fair value		$	1,281			$	1,620

The following table represents changes in marketable equity securities:

(in thousands)		Three months ended June 30,								Six months ended June 30,
		2021				2020				2021				2020
Cost of marketable equity securities sold		$	4			$	-			$	69			$	51
Realized gain on marketable equity securities sold			6				-				19				25
Proceeds from the sale of marketable equity securities sold			(10	)			-				(88	)			(76	)
Net (loss) gain on marketable equity securities			(142	)			484				(251	)			276
Additions to marketable equity securities			-				294				-				294
Change in marketable equity securities at fair value		$	(152	)		$	778			$	(339	)		$	494

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

(in thousands)		Three months ended June 30,								Six months ended June 30,
		2021				2020				2021				2020
Unrealized (loss) gain on marketable securities		$	(148	)		$	484			$	(270	)		$	251
Realized gain on marketable equity securities sold			6				-				19				25
Net (loss) gain on marketable securities		$	(142	)		$	484			$	(251	)		$	276

During the three months ended June 30, 2021, Solitario sold 143,000 shares of TNR Gold Corp. common stock for proceeds of $10,000 and recorded a gain on sale of $6,000. During the six months ended June 30, 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) 430,000 shares of TNR Gold Corp. common stock for proceeds of $28,000 and recorded a gain on sale of $19,000 and (iii) 3,200 shares of Vox for proceeds of $9,000 and recorded a gain on sale of $2,000.

Solitario sold 2,000,000 shares of 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.

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