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Marketable Equity Securities
 12 Months Ended
Dec. 31, 2023
Marketable Equity Securities  
Marketable Equity Securities

3. Marketable Equity Securities

 

During 2022 Solitario sold 1,250,000 shares of Vendetta common stock for proceeds of $63,000 and recorded a realized loss on sale of $201,000. Solitario did not sell any of its marketable equity securities during 2023.

 

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

 

 

 

As of

December 31, 2023

 

 

As of

December 31, 2022

 

 

 

shares

 

 

Fair value

(000’s)

 

 

shares

 

 

Fair value

(000’s)

 

Kinross Gold Corp

 

 

100,000

 

 

$605

 

 

 

100,000

 

 

$409

 

Vendetta Mining Corp.

 

 

7,750,000

 

 

 

118

 

 

 

7,750,000

 

 

 

229

 

Vox Royalty Corp.

 

 

134,055

 

 

 

276

 

 

 

134,055

 

 

 

311

 

Highlander Silver Corp.

 

 

200,000

 

 

 

33

 

 

 

200,000

 

 

 

-

 

Total

 

 

 

 

 

$1,032

 

 

 

 

 

 

$949

 

 

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

 

(in thousands)

 

Year ended

December 31,

 

 

 

2023

 

 

2022

 

Marketable equity securities at cost

 

$1,440

 

 

$1,440

 

Cumulative unrealized loss on marketable equity securities

 

 

(408)

 

 

(491)

Marketable equity securities at fair value

 

$1,032

 

 

$949

 

 

The following table represents changes in marketable equity securities:

 

(in thousands)

 

Year ended

December 31,

 

 

 

2023

 

 

2022

 

Cost of marketable equity securities sold

 

$-

 

 

$264

 

Realized loss on marketable equity securities sold

 

 

-

 

 

 

(201)

Proceeds from the sale of marketable equity securities sold

 

 

-

 

 

 

(63)

Net gain (loss) on marketable equity securities

 

 

83

 

 

 

(295)

Change in marketable equity securities at fair value

 

$83

 

 

$(358)

 

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

 

(in thousands)

 

Year ended

December 31,

 

 

 

2023

 

 

2022

 

Unrealized gain (loss) on marketable equity securities

 

$83

 

 

$(94)

Realized loss on marketable equity securities sold

 

 

-

 

 

 

(201)

Net gain (loss) on marketable equity securities

 

$83

 

 

$(295)

 

Other Income

 

During 2022, Solitario sold rights to certain exploration data on a non-owned mineral property upon which Solitario had previously done exploration activities. The data was sold to Highlander Silver Corp., a Canadian exploration company (“Highlander”) for $20,000 cash and 200,000 shares of Highlander common stock. On the date of sale, the Highlander common stock carried a restrictive legend. The shares were not available for trade on the date of sale and at December 31, 2022 and no value has been assigned to the common stock as of December 31, 2022. Solitario recorded $20,000 of other income on the date of the sale. The change to the value of the Highlander common stock owned by Solitario during 2023 was included in the changes in value of marketable equity securities.