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Derivative Instruments
 12 Months Ended
Dec. 31, 2023
Derivative Instruments  
Derivative Instruments

7. Derivative Instruments:

 

Covered call options:

 

From time-to-time Solitario has sold covered call options against its holdings of shares of common stock of Kinross included in Marketable Equity Securities. The business purpose of selling covered calls is to provide additional income on a limited portion of shares of Kinross that Solitario may sell in the near term, which is generally defined as less than one year and any changes in the fair value of its covered calls are recognized in the statement of operations in the period of the change. During 2023, Solitario sold covered calls against its holdings of Kinross for cash proceeds of $31,000 all of which expired unexercised.

 

Warrants:

 

During 2022, Solitario recorded a loss of $4,000 related to certain Vendetta warrants it held, which expired unexercised during 2022.