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Marketable Equity Securities

3 Months Ended

Mar. 31, 2025

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.

At March 31, 2025 and December 31, 2024, Solitario owned the following marketable equity securities:

		March 31, 2025								December 31, 2024
		shares				Fair value (000’s)				shares				Fair value (000’s)
Kinross Gold Corp.			100,000			$	1,261				100,000			$	927
Vendetta Mining Corp.			7,750,000				54				7,750,000				81
Vox Royalty Corp.			134,055				391				134,055				314
Total						$	1,706							$	1,322

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

(in thousands)		March 31, 2025				December 31, 2024
Marketable equity securities at cost		$	1,440			$	1,440
Cumulative unrealized loss on marketable equity securities			266				(118	)
Marketable equity securities at fair value		$	1,706			$	1,322

During the three months ended March 31, 2025 and 2024, Solitario did not sell any marketable equity securities, and the increase in the fair value in its marketable equity securities of $385,000 and $8,000, respectively during the three months ended March 31, 2025 and 2024 was related to unrealized gain on marketable equity securities.

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- Definition

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

+ References

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