XML 23 R13.htm IDEA: XBRL DOCUMENT v3.25.3
Derivative Instruments
 9 Months Ended
Sep. 30, 2025
Derivative Instruments  
Derivative Instruments

7. Derivative Instruments

 

From time-to-time Solitario sold covered call options against its holdings of shares of Kinross common stock included in marketable equity securities. The business purpose of selling covered calls was to provide additional income on a limited portion of shares of Kinross that Solitario may have elected to sell in the near term, which is generally defined as less than one year. Any changes in the fair value of its covered calls are recognized in the statement of operations in the period of the change. In August 2024, Solitario sold covered calls against its holdings of Kinross common stock for net proceeds of $39,000. During three and the nine months ended September 30, 2025, Solitario recorded a loss on derivative instruments of $0 and $336,000, respectively. Solitario settled the covered calls against its holdings of Kinross upon the sale of all of its shares of Kinross common stock for gross proceeds of $1,401,000 which was netted against the settlement of the Kinross calls of $403,000 for net cash proceeds of $998,000 after fees and commissions.