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Marketable Equity Securities

3 Months Ended

Mar. 31, 2023

Marketable Equity Securities

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.

At March 31, 2023 and December 31, 2022 Solitario owns the following marketable equity securities:

		March 31 2023								December 31 2022
		shares				Fair value (000’s)				Shares				Fair value (000’s)
Kinross Gold Corp			100,000			$	471				100,000			$	409
Vendetta Mining Corp.			7,750,000				373				7,750,000				229
Vox Royalty Corp.			134,055				412				134,055				311
Highlander Silver Corp			200,000				22				200,000				-
Total						$	1,278							$	949

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

(in thousands)		March 31, 2023				December 31, 2022
Marketable equity securities at cost		$	1,440			$	1,440
Cumulative unrealized loss on marketable equity securities			(162	)			(491	)
Marketable equity securities at fair value		$	1,278			$	949

The following table represents changes in marketable equity securities during the three months ended March 31, 2023 and 2022:

(in thousands)		Three months ended March 31,
		2023				2022
Cost of marketable equity securities sold		$	-			$	107
Realized loss on marketable equity securities sold			-				(81	)
Proceeds from the sale of marketable equity securities sold			-				(26	)
Net gain on marketable equity securities			329				132
Change in marketable equity securities at fair value		$	329			$	106

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

(in thousands)		Three months ended March 31,
		2023				2022
Unrealized gain on marketable securities		$	329			$	213
Realized loss on marketable equity securities sold			-				(81	)
Net gain on marketable securities		$	329			$	132

Solitario did not sell any marketable equity securities during the three months ended March 31, 2023. During the three months ended March 31, 2022, Solitario sold 500,000 shares of Vendetta Mining Corp. (“Vendetta”) common stock for proceeds of $26,000 and recorded a loss on sale of $81,000 on the date of sale.

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- Definition

The entire disclosure for investments in certain debt and equity securities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 320
-URI https://asc.fasb.org/subtopic&trid=2209399

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 946
-SubTopic 320
-URI https://asc.fasb.org/subtopic&trid=2324412

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-URI https://asc.fasb.org/topic&trid=2196928

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 940
-SubTopic 320
-URI https://asc.fasb.org/subtopic&trid=2176304

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher SEC
-Name Regulation S-K (SK)
-Number 229
-Section 1403
-Paragraph (b)

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