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Marketable Equity Securities

9 Months Ended

Sep. 30, 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 fair value are recorded in the condensed consolidated statement of operations.

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Table of Contents

At September 30, 2023 and December 31, 2022, Solitario owns the following marketable equity securities:

		September 30, 2023								December 31, 2022
		shares				Fair value (000’s)				Shares				Fair value (000’s)
Kinross Gold Corp			100,000			$	456				100,000			$	409
Vendetta Mining Corp.			7,750,000				172				7,750,000				229
Vox Royalty Corp.			134,055				271				134,055				311
Highlander Silver Corp.			200,000				11				200,000				-
Total						$	910							$	949

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

(in thousands)		September 30, 2023				December 31, 2022
Marketable equity securities at cost		$	1,440			$	1,440
Cumulative unrealized loss on marketable equity securities			(530	)			(491	)
Marketable equity securities at fair value		$	910			$	949

The following table represents changes in marketable equity securities:

(in thousands)		Three months ended September 30,								Nine months ended September 30,
		2023				2022				2023				2022
Cost of marketable equity securities sold		$	-			$	-			$	-			$	212
Realized (loss) on marketable equity securities sold			-				-				-				(159	)
Proceeds from the sale of marketable equity securities sold			-				-				-				(53	)
Net (loss) gain on marketable equity securities			(141	)			13				(39	)			(301	)
Change in marketable equity securities at fair value		$	(141	)		$	13			$	(39	)		$	(354	)

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

(in thousands)		Three months ended September 30,								Nine months ended September 30,
		2023				2022				2023				2022
Unrealized (loss) gain on marketable securities		$	(141	)		$	13			$	(39	)		$	(142	)
Realized (loss) on marketable equity securities sold			-				-				-				(159	)
Net loss on marketable securities		$	(141	)		$	13			$	(39	)		$	(301	)

During the three and nine months ended September 30, 2023, Solitario did not sell any marketable equity securities.

During the three months ended September 30, 2022, Solitario did not sell any marketable equity securities. During the nine months ended September 30, 2022, Solitario sold 1,000,000 shares of Vendetta Mining Corp. (“Vendetta”) common stock for proceeds of $53,000 and recorded a loss on sale of $159,000 on the date of sale.

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

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