Marketable Equity Securities

9 Months Ended

Sep. 30, 2024

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 September 30, 2024 and December 31, 2023 Solitario owned the following marketable equity securities:

	September 30, 2024				December 31, 2023
	Shares		Fair value (000’s)		Shares		Fair value (000’s)
Kinross Gold Corp.		100,000	$	936		100,000	$	605
Vendetta Mining Corp.		7,750,000		57		7,750,000		118
Vox Royalty Corp.		134,055		405		134,055		276
Highlander Silver Corp.		-		-		100,000		33
Total			$	1,398			$	1,032

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

(in thousands)	September 30, 2024			December 31, 2023
Marketable equity securities at cost	$	1,440		$	1,440
Cumulative unrealized loss on marketable equity securities		(42	)		(408	)
Marketable equity securities at fair value	$	1,398		$	1,032

The following table represents changes in marketable equity securities:

(in thousands)	Three months ended September 30,					Nine months ended September 30,
	2024		2023			2024			2023
Cost of marketable equity securities sold	$	-	$	-		$	-		$	-
Realized gain on marketable equity securities sold		-		-			54			-
Proceeds from the sale of marketable equity securities sold		-		-			(54	)		-
Net (loss) gain on marketable equity securities		110		(141	)		420			(39	)
Change in marketable equity securities at fair value	$	110	$	(141	)	$	366		$	(39	)

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

(in thousands)	Three months ended September 30,					Nine months ended September 30,
	2024		2023			2024			2023
Unrealized gain (loss) on marketable equity securities	$	110	$	(141	)	$	420		$	(39	)
Realized (gain) on marketable equity securities sold		-		-			(54	)		-
Net gain (loss) on marketable equity securities	$	110	$	(141	)	$	366		$	(39	)

During the nine months ended September 30, 2024, Solitario sold 100,000 shares of Highlander Silver Corp. (“Highlander”) common stock for proceeds of $54,000 and recorded a gain on sale of $54,000 on the date of sale. Solitario did not sell any marketable equity securities during the three months ended September 30, 2024.

During the three and nine months ended September 30, 2023, Solitario did not sell any marketable equity securities.