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Derivative Instruments
 12 Months Ended
Dec. 31, 2024
Derivative Instruments  
Derivative Instruments

7. Derivative Instruments:

 

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 2024, Solitario sold covered calls against its holdings of Kinross for net proceeds of $38,000, recorded an unrecognized loss of $29,000 during the year ended December 31, 2024 and recorded a liability for its outstanding covered call at December 31, 2024 of $67,000.  At December 31, 2024 Solitario has outstanding covered calls against all of its holdings of Kinross common stock with an exercise price of $10.00 per share with an exercise date of May 16, 2025.  During 2023, Solitario sold covered calls against its holdings of Kinross for cash proceeds of $31,000 all of which expired unexercised.