XML 147 R9.htm IDEA: XBRL DOCUMENT

Marketable Equity Securities

12 Months Ended

Dec. 31, 2021

Marketable Equity Securities

Marketable Equity Securities

3. Marketable Equity Securities

During 2021, Solitario sold (i) 2,550,000 shares of Vendetta Mining Corp. (“Vendetta”) for proceeds of $112,000 and recorded a realized loss on the sale of $269,000; (ii) 430,000 shares of TNR Gold Corp. (“TNR”) for proceeds of $27,000 and recorded a realized gain on the sale of $19,000; and (iii) 3,200 shares of Vox for proceeds of $8,000 and recorded a realized gain on the sale of $2,000. During 2020 Solitario sold 2,900,000 shares of Vendetta common stock for proceeds of $123,000 and recorded a realized gain on sale of $50,000. During 2020, Solitario received 137,255 shares of Vox upon conversion of the SilverStream Note valued at $294,000.

On July 31, 2019, Solitario purchased 3,450,000 Vendetta units for aggregate consideration of $233,000. Each unit consisted of one share of Vendetta common stock and one warrant which allows the holder to purchase one additional share of Vendetta common stock at a purchase price of Cdn$0.13 per share for a period of three years (the “Vendetta Warrants”). The purchase of the units increased Solitario’s holdings of Vendetta common shares to 14,450,000 shares. During 2021, Solitario charged loss on derivative instruments of $46,000 for the change in the value of the Vendetta Warrants. During 2020, Solitario charged gain on derivative instruments of $29,000 for the change in the value of the Vendetta Warrants.

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

		Year ended December 31, 2021
		shares				Fair value (000’s)
Kinross Gold Corp			100,000			$	581
Vendetta Mining Corp.			9,000,000				356
Vox Royalty Corp.			134,055				370
Total						$	1,307

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

(in thousands)		Year ended December 31,
		2021				2020
Marketable equity securities at cost		$	1,704			$	2,099
Cumulative unrealized (loss) gain on marketable equity securities			(397	)			(479	)
Marketable equity securities at fair value		$	1,307			$	1,620

The following table represents changes in marketable equity securities:

(in thousands)		Year ended December 31,
		2021				2020
Cost of marketable equity securities sold		$	395			$	73
Realized (loss) gain on marketable equity securities sold			(248	)			50
Proceeds from the sale of marketable equity securities sold			(147	)			(123	)
Net gain (loss) on marketable equity securities			(166	)			410
Additions to marketable equity securities			-				294
Change in marketable equity securities at fair value		$	(313	)		$	581

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

(in thousands)		Year ended December 31,
		2021				2020
Unrealized gain on marketable equity securities		$	82			$	360
Realized (loss) gain on marketable equity securities sold			(248	)			50
Net (loss) gain on marketable equity securities		$	(166	)		$	410