Solitario Zinc (XPL) 10-Q4 Nov 242024 Q3 Quarterly reportFinancial data

Company Profile

Cover

Cover - shares	9 Months Ended
Cover - shares	Sep. 30, 2024	Nov. 04, 2024
Cover [Abstract]
Entity Registrant Name	SOLITARIO RESOURCES CORP.
Entity Central Index Key	0000917225
Document Type	10-Q
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Small Business	true
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Current Reporting Status	Yes
Document Period End Date	Sep. 30, 2024
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2024
Entity Common Stock Shares Outstanding		81,438,418
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	001-39278
Entity Incorporation State Country Code	CO
Entity Tax Identification Number	84-1285791
Entity Address Address Line 1	4251 Kipling St
Entity Address City Or Town	Wheat Ridge
Entity Address State Or Province	CO
Entity Address Postal Zip Code	80033
City Area Code	303
Local Phone Number	534-1030
Security 12b Title	Common Stock, $0.01 par value
Trading Symbol	XPL
Security Exchange Name	NYSEAMER
Entity Interactive Data Current	Yes
Entity Address Address Line 2	Suite 390

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 86	$ 200
Short-term investments	6,398	8,436
Investments in marketable equity securities, at fair value	1,398	1,032
Prepaid expenses and other	102	273
Total current assets	7,984	9,941
Mineral properties	16,701	16,646
Restricted cash - Golden Crest reclamation	100	0
Other assets	134	170
Total assets	24,919	26,757
Current liabilities:
Accounts payable	638	593
Kinross call option	82	0
Operating lease liability	42	39
Total current liabilities	762	632
Long-term liabilities
Operating lease liability - long-term	18	50
Asset retirement obligation and reclamation liabilities	145	125
Total long-term liabilities	163	175
Shareholders' equity:
Preferred stock, $0.01 par value, authorized 10,000,000 shares (none issued and outstanding at September 30, 2024 and December 31, 2023)	0	0
Common stock, $0.01 par value, authorized 100,000,000 shares (81,638,418 and 79,586,358 shares, respectively, issued and outstanding at September 30, 2024 and December 31, 2023)	816	796
Additional paid-in capital	84,588	82,796
Accumulated deficit	(61,410)	(57,642)
Total shareholders' equity	23,994	25,950
Total liabilities and shareholders' equity	$ 24,919	$ 26,757

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2024	Dec. 31, 2023
CONDENSED CONSOLIDATED BALANCE SHEETS
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	81,638,418	79,586,358
Common stock, shares outstanding	81,638,418	79,586,358

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Operating expense:
Exploration expense	$ 2,067	$ 918	$ 2,908	$ 1,748
Depreciation	8	7	21	19
General and administrative	383	282	1,511	1,073
Total operating expense	2,458	1,207	4,440	2,840
Other income (loss)
Interest and dividend income	94	35	295	88
(Loss) gain on derivative instruments	(22)	7	(43)	30
Gain on sale of marketable equity securities	0	0	54	0
Unrealized gain on short-term investments	0	14	0	49
Unrealized gain (loss) on marketable equity securities	110	(141)	366	(39)
Total other income (loss)	182	(85)	672	128
Net loss	$ (2,276)	$ (1,292)	$ (3,768)	$ (2,712)
Loss per common share:
Basic and diluted	$ (0.03)	$ (0.02)	$ (0.05)	$ (0.04)
Weighted average shares outstanding:
Basic and diluted	81,597	67,752	80,790	67,625

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Operating activities:
Net loss	$ (3,768)	$ (2,712)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	21	19
Amortization of right of use lease asset	31	30
Unrealized (gain) loss on marketable equity securities	(366)	39
Unrealized (gain) loss on short-term investments	0	(49)
Stock-based compensation expense	540	184
(Gain) on sale of marketable equity securities	(54)	0
Loss (gain) on derivative instruments	43	(30)
Increase in asset retirement and reclamation liabilities	20	0
Changes in operating assets and liabilities:
Prepaid expenses and other	171	(199)
Accounts payable and other current liabilities	12	34
Net cash used in operating activities	(3,350)	(2,684)
Investing activities:
Sale of short-term investments, net	2,038	36
Purchase of mineral property	(55)	0
Purchase of other assets	(12)	(12)
Cash from sale of marketable equity securities	54	0
Sale of derivative instruments	39	31
Net cash provided by investing activities	2,064	55
Financing activities:
Issuance of common stock - net of issuing costs	1,218	2,422
Issuance of common stock upon exercise of stock options	54	59
Net cash provided by financing activities	1,272	2,481
Net decrease in cash and cash equivalents	(14)	(148)
Cash, cash equivalents and restricted cash, beginning of period	200	316
Cash, cash equivalents and restricted cash, end of period	186	168
Supplemental Cash Flow information:
Acquisition of right to use asset	$ 0	$ 87

Business and Significant Accoun

Business and Significant Accounting Policies	9 Months Ended
Business and Significant Accounting Policies	Sep. 30, 2024
Business and Significant Accounting Policies
Business and Significant Accounting Policies	1. Business and Significant Accounting Policies Business and company formation Solitario Resources Corp. (“Solitario,” or the “Company”) is an exploration stage company as defined by rules issued by the United States Securities and Exchange Commission (“SEC”). Solitario was incorporated in the state of Colorado on November 15, 1984 as a wholly owned subsidiary of Crown Resources Corporation ("Crown"). In July 1994, Solitario became a publicly traded company on the Toronto Stock Exchange through its initial public offering. Solitario has been actively involved in mineral exploration since 1993. Solitario’s primary business is to acquire exploration mineral properties or royalties and/or discover economic deposits on its mineral properties and advance these deposits, either on its own or through joint ventures, up to the development stage. At or prior to development, Solitario would likely attempt to sell its mineral properties, pursue their development either on its own or through a joint venture with a partner that has expertise in mining operations, or create a royalty with a third party that continues to advance the property. Solitario has never developed a property. Solitario is primarily focused on the acquisition and exploration of precious metal, zinc and other base metal exploration mineral properties. In addition to focusing on its mineral exploration properties and the evaluation of mineral properties for acquisition, Solitario from time to time also evaluates potential strategic transactions for the acquisition of new precious and base metal properties and assets with exploration potential or business combinations that Solitario determines to be favorable to Solitario. Solitario has recorded revenue in the past from the sale of mineral properties, including the sale of certain mineral royalties. Revenues and / or proceeds from the sale or joint venture of properties or assets, although potentially significant when they occur, have not been a consistent annual source of cash and would only occur in the future, if at all, on an infrequent basis. Solitario currently considers its carried interest in the Florida Canyon zinc project in Peru (the “Florida Canyon Project”), its interest in the Lik zinc project in Alaska (the “Lik Project”), and its Golden Crest project in South Dakota (the “Golden Crest Project”) to be its core mineral property assets. Nexa Resources, Ltd. (“Nexa”), Solitario’s joint venture partner, is continuing the exploration and furtherance of the Florida Canyon Project and Solitario is monitoring progress at the Florida Canyon Project. Solitario is working with its 50% joint venture partner in the Lik Project, Teck American Incorporated, a wholly owned subsidiary of Teck Resources Limited (both companies are referred to as “Teck”), to further the exploration and evaluate potential development plans for the Lik Project. During the nine months ended September 30, 2024, Solitario began work on a new early-stage project, the Cat Creek project in Colorado (the “Cat Creek Project”). Solitario is conducting mineral exploration on its Golden Crest Project and the Cat Creek Project on its own. Solitario anticipates using its cash and short-term investments, in part, to fund costs and activities to further the exploration of its core mineral projects, the Florida Canyon Project, Lik Project and Golden Crest Project, as well as its Cat Creek Project, and to potentially acquire additional mineral property assets. The fluctuations in precious metal and other commodity prices contribute to a challenging environment for mineral exploration and development, which has created opportunities as well as challenges for the potential acquisition of early-stage and advanced mineral exploration projects or other related assets at potentially attractive terms. The accompanying interim condensed consolidated financial statements of Solitario for the three and nine months ended September 30, 2024 are unaudited and are prepared in accordance with accounting principles generally accepted in the United States of America (“generally accepted accounting principles”). They do not include all disclosures required by generally accepted accounting principles for annual financial statements, but in the opinion of management, include all adjustments necessary for a fair presentation. Interim results are not necessarily indicative of results which may be achieved in the future or for the full year ending December 31, 2024. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto which are included in Solitario’s Annual Report on Form 10-K for the year ended December 31, 2023 filed with the SEC on March 22, 2024 (the “2023 Annual Report”). The accounting policies set forth in those annual financial statements are the same as the accounting policies utilized in the preparation of these condensed consolidated financial statements, except as modified for appropriate interim financial statement presentation. Recent accounting pronouncements In August 2023, the FASB issued Accounting Standards Update (“ASU”) 2023-05, Business Combinations - Joint Venture Formations (Subtopic 805-60): Recognition and Initial Measurement, which clarifies the business combination accounting for joint venture formations. The amendments in the ASU seek to reduce diversity in practice that has resulted from a lack of authoritative guidance regarding the accounting for the formation of joint ventures in separate financial statements. The amendments also seek to clarify the initial measurement of joint venture net assets, including businesses contributed to a joint venture. The guidance is applicable to all entities involved in the formation of a joint venture. The amendments are effective for all joint venture formations with a formation date on or after January 1, 2025. Early adoption and retrospective application of the amendments are permitted. Solitario does not anticipate early adoption. Solitario is evaluating the new guidance and has not yet determined the impact of ASU 2023-05 on its condensed consolidated financial statements. In November 2023, the FASB issued ASU 2023-07 which improves disclosures about a public entity’s reportable segments and addresses requests from investors and other allocators of capital for additional, more detailed information about a reportable segment’s expenses. The ASU applies to all public entities that are required to report segment information in accordance with ASC 280 and is effective starting in annual periods beginning after December 15, 2023. The adoption is not expected to have a material impact on the Company's consolidated financial statements or disclosures. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, amending income tax disclosure requirements for the effective tax rate reconciliation and income taxes paid. The amendments in ASU 2023-09 are effective for public business entities for fiscal years beginning after December 15, 2024 and are applied prospectively. Early adoption and retrospective application of the amendments are permitted. Solitario does not anticipate early adoption. Solitario does not expect the adoption of ASU No. 2023-09 to have a material impact on its consolidated financial position or results of operations. Risks and Uncertainties Solitario is subject to various risks and uncertainties that are specific to the nature of its business and the exploration of its mineral properties. Solitario also faces various macro-economic risks and uncertainties, such as risks related to health epidemics, pandemics, and other outbreaks or resurgences of communicable diseases, the occurrence of natural disasters, rising geopolitical tension and instability, acts of war or terrorism, global economic uncertainty, inflationary pressures, increased interest rates, and volatility and disruption in national and international financial markets. These risks and uncertainties could significantly disrupt Solitario’s operations and may materially and adversely affect its business and financial condition. Certain of these risks and uncertainties are discussed under the heading “Risk Factors” in Part I, Item 1A of our 2023 Annual Report and under the heading “Forward-Looking Statements” in Item 2(l) of Part I of this report. Financial reporting The condensed consolidated financial statements include the accounts of Solitario and its wholly owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation. The condensed consolidated financial statements are prepared in accordance with generally accepted accounting principles and are expressed in US dollars. Cash equivalents Cash equivalents include investments in highly liquid money-market securities with original maturities of three months or less when purchased. As of September 30, 2024, $21,000 of Solitario’s cash is held in brokerage accounts and foreign banks, which are not covered under the Federal Deposit Insurance Corporation (“FDIC”) rules for the United States. Money Market Funds Solitario invests in money market funds that seek to maintain a stable net asset value. These funds invest in high-quality, short-term, diversified money market instruments, short-term treasury bills, federal agency securities, certificates of deposits, and commercial paper. Solitario includes its money market funds in short-term investments. Solitario believes the redemption value of these funds is likely to be the fair value, which is represented by the net asset value. Redemption is permitted daily without written notice. Solitario’s money market funds of $6,398,000 and $7,738,000, respectively, at September 30, 2024 and December 31, 2023 are included in short-term investments. Restricted Cash Solitario’s restricted cash represents investments in certificates of deposit and are restricted primarily for reclamation funding or surety bonds. Restricted cash and cash equivalents balances are carried at fair value. Non-current restricted cash is reported in a separate line on the condensed consolidated balance sheets and totaled $100,000 at September 30, 2024. There were no restricted cash amounts at December 31, 2023. Cash, excluding restricted cash, at September 30, 2024 and December 31, 2023 was $86,000 and $200,000, respectively. Short-term investments Solitario’s short-term investments at September 30, 2024 consists of its investment of $6,398,000 in a money market account held in a brokerage firm. At December 31, 2023 Solitario’s short term investments included a money market account of $7,738,000 and United States Treasury Securities (“USTS”) of $698,000 with maturities between one and two months. Earnings per share The calculation of basic and diluted earnings (loss) per share is based on the weighted average number of shares of common stock outstanding during the three and nine months ended September 30, 2024 and 2023. Potentially dilutive shares related to outstanding common stock options of 5,348,500 and 3,828,500, respectively, for the three and nine months ended September 30, 2024 and outstanding common stock options of 5,195,000 and 5,390,000, respectively, for the three and nine months ended September 30, 2023 were excluded from the calculation of diluted loss per share because the effects were anti-dilutive.

Mineral Properties

Mineral Properties	9 Months Ended
Mineral Properties	Sep. 30, 2024
Mineral Properties
Mineral Properties	2. Mineral Properties The following table details Solitario’s investment in Mineral Properties: (in thousands) September 30, December 31, 2024 2023 Exploration Lik (Alaska – US) $ 15,611 $ 15,611 Golden Crest (South Dakota – US) 1,078 1,035 Cat Creek (Colorado – US) 12 - Total exploration mineral properties $ 16,701 $ 16,646 During the nine months ended September 30, 2024, Solitario added a new area to its existing Golden Crest Project, covering approximately 98 claims. The initial cost for staking and recording these claims of $43,000 was capitalized as mineral properties. In addition, during the nine months ended September 30, 2024, Solitario acquired a new early-stage exploration project, the Cat Creek Project, and capitalized its initial lease acquisition cost of $12,000. Solitario did not add any new exploration properties or projects during the three months ended September 30, 2024 nor the three and nine months ended September 30, 2023. All exploration costs on our exploration properties, none of which have proven and probable reserves, including any additional costs incurred for subsequent lease payments or exploration activities related to our projects, are expensed as incurred. Exploration expense The following items comprised exploration expense: (in thousands) Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 Geologic and field expenses $ 1,977 $ 895 $ 2,628 $ 1,630 Administrative 90 23 280 118 Total exploration costs $ 2,067 $ 918 $ 2,908 $ 1,748 Asset Retirement Obligation and Reclamation liabilities Solitario recorded an asset retirement obligation of $125,000 at September 30, 2024 for Solitario’s estimated reclamation cost of the existing disturbance at the Lik Project. This disturbance consists of an exploration camp including certain drill sites and access roads at the camp. The estimate was based upon estimated cash costs for reclamation as determined by Solitario and its joint venture partner Teck and is supported by a permitting bond required by the State of Alaska, for which Solitario has purchased a reclamation bond insurance policy in the event Solitario or Teck, do not complete required reclamation. Solitario has not applied a discount rate to the recorded asset retirement obligation as the estimated time frame for reclamation is not currently known, as completion reclamation is not expected to occur until the end of the related project life, which would follow future development and operations, the start of which cannot be estimated or assured at this time. Additionally, no depreciation will be recorded on the related asset for the asset retirement obligation until the Lik Project goes into operation, which cannot be assured. Solitario is also involved in certain matters concerning its current drilling program remediation at its Golden Crest Project. Generally, the remediation at Golden Crest is carried out concurrently with drilling activities, with only ongoing contouring and reseeding of drill sites upon completion of drilling. At September 30, 2024, Solitario recorded a reclamation liability of $20,000, included in asset retirement and reclamation liabilities related to the Golden Crest Project.

Marketable Equity Securities

Marketable Equity Securities	9 Months Ended
Marketable Equity Securities	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.

Leases

Leases	9 Months Ended
Leases	Sep. 30, 2024
Leases
Leases	4. Leases Solitario leases one facility, its Wheat Ridge, Colorado office, that has a term of more than one year. Solitario has no other material operating lease costs. During the nine months ended September 30, 2023, Solitario entered into an extension of the lease as a new lease for the same facility (both the prior lease and new lease are referred to as the “WR Lease”) and recorded a net increase in the related asset and liability of $87,000. The WR Lease is classified as an operating lease and has a term of 17 months at September 30, 2024, with no renewal option. At September 30, 2024 and December 31, 2023, the right-of-use office lease asset for the WR Lease is classified as other long-term assets and the related liability as current and long-term operating lease liabilities in the condensed consolidated balance sheet. The amortization of right of use lease asset expense is recognized over the lease term, with variable lease payments recognized in the period those payments are incurred. During the three and nine months ended September 30, 2024, cash lease payments of $11,000 and $33,000, respectively, were made on the WR Lease. During the three and nine months ended September 30, 2023, cash lease payments of $11,000 and $33,000, respectively, were made on the WR Lease. During the three and nine months ended September 30, 2024, Solitario recognized $10,000 and $31,000, respectively, of non-cash amortization of right of use lease asset expense for the WR Lease included in general and administrative expense. During the three and nine months ended September 30, 2023, Solitario recognized $10,000 and $30,000, respectively, of non-cash amortization of right of use lease asset expense for the WR Lease included in general and administrative expense. These cash payments, less imputed interest for each period, reduced the related liability on the WR Lease. Upon the extension of the WR Lease during 2023, the discount rate within the WR Lease was not determinable and Solitario applied a discount rate of 7% based upon Solitario’s estimate of its cost of capital to determine the asset and liability. The maturities of Solitario’s lease liability for its WR Lease are as follows at September 30, 2024: Future lease payments (in thousands) Remaining payments 2024 $ 11 2025 45 2026 7 Total lease payments 63 Less amount of payments representing interest (3 ) Present value of lease payments $ 60

Other Assets

Other Assets	9 Months Ended
Other Assets	Sep. 30, 2024
Other Assets
Other Assets	5 Other Assets The following items comprised other assets: (in thousands) September 30, December 31, 2024 2023 Furniture and fixtures, net of accumulated depreciation $ 74 $ 83 Office lease asset 56 83 Other assets 4 4 Total other $ 134 $ 170

Derivative Instruments

Derivative Instruments	9 Months Ended
Derivative Instruments	Sep. 30, 2024
Derivative Instruments
Derivative Instruments	6. Derivative Instruments Covered call options From time-to-time Solitario has sold covered call options against its holdings of shares of common stock of Kinross Gold Corporation (“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. At September 30, 2024, Solitario has recorded a liability related to covered calls outstanding on its holdings of Kinross of $82,000. During the nine months ended September 30, 2024 and 2023, Solitario sold covered calls against its holdings of Kinross for cash proceeds of $39,000 and $31,000, respectively. During the three and nine months ended September 30, 2024, Solitario recorded a loss on derivative instruments related to those covered calls of $22,000 and $43,000, respectively. During the three and nine months ended September 30, 2023, Solitario recorded a gain on derivative instruments related to those covered calls of $7,000 and $30,000, respectively.

Fair Value

Fair Value	9 Months Ended
Fair Value	Sep. 30, 2024
Fair Value
Fair Value	7. Fair Value Solitario accounts for its financial instruments under ASC 820 Fair Value Measurement The following is a listing of Solitario’s financial assets and liabilities required to be measured at fair value on a recurring basis and where they are classified within the hierarchy as of September 30, 2024: (in thousands) Level 1 Level 2 Level 3 Total Assets Short-term investments $ 6,398 $ - $ - $ 6,398 Marketable equity securities $ 1,398 $ - $ - $ 1,398 Liabilities Kinross call options $ 82 $ - $ - $ 82 The following is a listing of Solitario’s financial assets and liabilities required to be measured at fair value on a recurring basis and where they are classified within the hierarchy as of December 31, 2023: (in thousands) Level 1 Level 2 Level 3 Total Assets Short-term investments $ 8,436 $ - $ - $ 8,436 Marketable equity securities $ 1,032 $ - $ - $ 1,032

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 30, 2024
Commitments and Contingencies
Commitments and Contingencies	8. Commitments and Contingencies Solitario has recorded an asset retirement and reclamation liability obligation of $145,000 related to its Lik and Golden Crest projects. See Note 2, “Mineral Properties,” above. Solitario leases office space under a non-cancelable operating lease for the Wheat Ridge, Colorado office which provides for future total minimum rent payments as of September 30, 2024 of $63,000 through February 2026.

Income Taxes

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2024
Income Taxes
Income Taxes	9. Income Taxes Solitario accounts for income taxes in accordance with ASC 740 Income Taxes At both September 30, 2024 and December 31, 2023, a valuation allowance has been recorded, which fully offsets Solitario’s net deferred tax assets, because it is more likely than not that the Company will not realize some portion or all of its deferred tax assets. The Company continually assesses both positive and negative evidence to determine whether it is more likely than not that the deferred tax assets can be realized prior to their expiration. During the three and nine months ended September 30, 2024 and 2023, Solitario recorded no deferred tax expense.

Employee Stock Compensation Pla

Employee Stock Compensation Plans	9 Months Ended
Employee Stock Compensation Plans	Sep. 30, 2024
Employee Stock Compensation Plans
Employee Stock Compensation Plans	10. Employee Stock Compensation Plans 2013 Plan On June 18, 2013, Solitario’s shareholders approved the 2013 Solitario Exploration & Royalty Corp. Omnibus Stock and Incentive Plan, as amended (the “2013 Plan”), which expired in April 2023. Under the terms of the 2013 Plan, a total of 5,750,000 shares of Solitario common stock were reserved for awards to directors, officers, employees and consultants. Awards granted under the 2013 Plan permitted the Board of Directors of the Company (the “Board of Directors”) or a committee appointed by the Board of Directors to grant awards in the form of stock options, stock appreciation rights, restricted stock, and restricted stock units. From the date of its expiration no additional awards may be granted under the 2013 Plan, although awards made prior to the 2013 Plan’s expiration will remain outstanding in accordance with their terms. The outstanding awards under the 2013 Plan are detailed below. As of September 30, 2024 and December 31, 2023, there were granted options outstanding under the 2013 Plan to acquire 3,173,500 and 3,778,500 shares, respectively, of Solitario common stock. Of these, as of September 30, 2024 and December 31, 2023, there were options that are vested and exercisable to acquire 2,171,000 and 2,563,500, respectively, shares of Solitario common stock, with exercise prices between $0.20 and $0.69 per share. As of September 30, 2024, the outstanding stock options under the 2013 Plan have an intrinsic value of $718,000 and a weighted average life of 2.09 years. During the three and nine months ended September 30, 2024, options previously granted under the 2013 Plan for 200,000 and 250,000 shares were exercised with exercise prices between $0.20 per share and $0.28 per share, for proceeds of $40,000 and $54,000, respectively, which had intrinsic values of $132,000 and $144,000, respectively, on the dates of exercise. During the three and nine months ended September 30, 2023, options for 145,000 and 195,000 shares, respectively, were exercised with exercise prices between $0.28 and $0.31 per share for proceeds of $45,000 and $59,000, respectively, which had intrinsic values of $37,000 and $52,000, respectively, on the date of exercise. 2023 Plan On June 20, 2023, Solitario’s shareholders approved the 2023 Solitario Stock and Incentive Plan (the “2023 Plan”). Under the terms of the 2023 Plan a total of 5,000,000 shares of Solitario common stock are reserved for awards to directors, officers, employees and consultants. Awards may take the form of stock options, stock appreciation rights, restricted stock and restricted stock units. The terms and conditions of the awards are pursuant to the 2023 Plan and are granted by the Board of Directors or a committee appointed by the Board of Directors. The 2023 Plan has a term of 10 years from the date of its adoption. As of September 30, 2024 and December 31, 2023, there were options for 2,175,000 and 50,000 shares, respectively, of Solitario common stock outstanding under the 2023 Plan of which there are options that are vested and exercisable to acquire 543,750 and 12,500, shares, respectively, of Solitario common stock with exercise prices between $0.51 and $0.85 per share. As of September 30, 2024, the outstanding stock options under the 2023 Plan have an intrinsic value of $10,000 and a weighted average life of 4.67 years. During the nine months ended September 30, 2024, under the 2023 Plan Solitario granted options with a five-year life to purchase an aggregate of 2,125,000 shares of Solitario common stock, with an exercise price of $0.85 per share, a five-year term, which vest 25% on the date of grant and 25% on each anniversary date for the next three years and have a grant date fair value of $1,120,000 based upon a five-year life, volatility of 71.5% and risk-free interest rate of 4.3%. During the three months ended September 30, 2024 and during the three and nine months ended September 30, 2023, Solitario did not grant any options under the 2023 Plan. Stock-based compensation expense During the three and nine months ended September 30, 2024, Solitario recorded stock-based compensation expense of $125,000 and $540,000, respectively, included in general and administrative expense. During the three and nine months ended September 30, 2023, Solitario recorded stock-based compensation expense of $58,000 and $184,000, respectively, included in general and administrative expense. At September 30, 2024, the total unrecognized stock-based compensation expense related to non-vested options was $966,000 and is expected to be recognized over a period of 27 months.

Shareholders Equity

Shareholders Equity	9 Months Ended
Shareholders Equity	Sep. 30, 2024
Shareholders Equity
Shareholders' Equity	11. Shareholders’ Equity Shareholders’ Equity for the nine months ended September 30, 2024: (in thousands, except Share amounts) Common Common Additional Total Stock Stock Paid-in Accumulated Shareholders’ Shares Amount Capital Deficit Equity Balance at December 31, 2023 79,586,358 $ 796 $ 82,796 $ (57,642 ) $ 25,950 Stock-based compensation expense - - 59 - 59 Issuance of shares- option exercises 50,000 - 14 - 14 Net loss - - - (730 ) (730 ) Balance at March 31, 2024 79,636,358 $ 796 $ 82,869 $ (58,372 ) $ 25,293 Stock-based compensation expense - - 356 - 356 Issuance of shares for cash - ATM 1,802,060 18 1,200 - 1,218 Net loss - - - (762 ) (762 ) Balance at June 30, 2024 81,438,418 $ 814 $ 84,425 $ (59,134 ) $ 26,105 Stock-based compensation expense - - 125 - 125 Issuance of shares- option exercises 200,000 2 38 - 40 Net loss - - - (2,276 ) (2,276 ) Balance at September 30, 2024 81,638,418 $ 816 $ 84,588 $ (61,410 ) $ 23,994 Shareholders’ Equity for the nine months ended September 30, 2023: (in thousands, except Share amounts) Common Common Additional Total Stock Stock Paid-in Accumulated Shareholders’ Shares Amount Capital Deficit Equity Balance at December 31, 2022 64,801,373 $ 648 $ 74,886 $ (53,888 ) $ 21,646 Stock-based compensation expense - - 67 - 67 Net loss - - - (380 ) (380 ) Balance at March 31, 2023 64,801,373 $ 648 $ 74,953 $ (54,268 ) $ 21,333 Stock-based compensation expense - - 59 - 59 Issuance of shares - option exercises 50,000 1 13 - 14 Net loss - - - (1,040 ) (1,040 ) Balance at June 30, 2023 64,851,373 $ 649 $ 75,025 $ (55,308 ) $ 20,366 Stock-based compensation expense - - 58 - 58 Issuance of shares - option exercises 145,000 1 44 - 45 Private placement 4,166,667 42 2,380 2,422 Net loss - - - (1,292 ) (1,292 ) Balance at September 30, 2023 69,163,040 $ 692 $ 77,507 $ (56,600 ) $ 21,599 At the Market Offering Agreement On December 19, 2023, Solitario entered into an amendment to its at-the-market offering agreement that was originally entered into in 2021 (the “ATM Agreement”) with H. C. Wainwright & Co., LLC (“Wainwright”), under which Solitario may, from time to time, issue and sell shares of Solitario’s common stock through Wainwright as sales manager in an at-the-market offering under a prospectus supplement for aggregate sales proceeds of up to $10.0 million (the “ATM Program”). The common stock is distributed at the market prices prevailing at the time of sale. As a result, prices of the common stock sold under the ATM Program may vary as between purchasers and during the period of distribution. The ATM Agreement provides that Wainwright is entitled to compensation for its services at a commission rate of 3.0% of the gross sales price per share of common stock sold. During the nine months ended September 30, 2024, Solitario sold an aggregate of 1,802,060 shares of common stock under the ATM Agreement at an average price of $0.70 per share for net proceeds of $1,218,000, after commissions and sale expenses. During the three months ended September 30, 2024, and during the three and nine months ended September 30, 2023, Solitario did not sell any shares under the ATM Program. Private Placement On July 31, 2023, Solitario entered into a Stock Purchase Agreement (the “SPA”) with Newmont Overseas Exploration Ltd. (“Newmont”), for the purchase and sale of 4,166,667 shares of Solitario common stock (the “Shares”), at a price of $0.60 per share for net proceeds of $2,422,000 after certain legal and regulatory offering costs of $78,000. In connection with the sale of the Shares Solitario and Newmont entered into an Investor Rights Agreement, which granted Newmont certain additional rights, including a preemptive right, certain anti-dilution protections and certain other rights related to Solitario’s Golden Crest mineral property assets.

Business and Significant Acco_2

Business and Significant Accounting Policies (Policies)	9 Months Ended
Business and Significant Accounting Policies (Policies)	Sep. 30, 2024
Business and Significant Accounting Policies
Business and company formation	Solitario Resources Corp. (“Solitario,” or the “Company”) is an exploration stage company as defined by rules issued by the United States Securities and Exchange Commission (“SEC”). Solitario was incorporated in the state of Colorado on November 15, 1984 as a wholly owned subsidiary of Crown Resources Corporation ("Crown"). In July 1994, Solitario became a publicly traded company on the Toronto Stock Exchange through its initial public offering. Solitario has been actively involved in mineral exploration since 1993. Solitario’s primary business is to acquire exploration mineral properties or royalties and/or discover economic deposits on its mineral properties and advance these deposits, either on its own or through joint ventures, up to the development stage. At or prior to development, Solitario would likely attempt to sell its mineral properties, pursue their development either on its own or through a joint venture with a partner that has expertise in mining operations, or create a royalty with a third party that continues to advance the property. Solitario has never developed a property. Solitario is primarily focused on the acquisition and exploration of precious metal, zinc and other base metal exploration mineral properties. In addition to focusing on its mineral exploration properties and the evaluation of mineral properties for acquisition, Solitario from time to time also evaluates potential strategic transactions for the acquisition of new precious and base metal properties and assets with exploration potential or business combinations that Solitario determines to be favorable to Solitario. Solitario has recorded revenue in the past from the sale of mineral properties, including the sale of certain mineral royalties. Revenues and / or proceeds from the sale or joint venture of properties or assets, although potentially significant when they occur, have not been a consistent annual source of cash and would only occur in the future, if at all, on an infrequent basis. Solitario currently considers its carried interest in the Florida Canyon zinc project in Peru (the “Florida Canyon Project”), its interest in the Lik zinc project in Alaska (the “Lik Project”), and its Golden Crest project in South Dakota (the “Golden Crest Project”) to be its core mineral property assets. Nexa Resources, Ltd. (“Nexa”), Solitario’s joint venture partner, is continuing the exploration and furtherance of the Florida Canyon Project and Solitario is monitoring progress at the Florida Canyon Project. Solitario is working with its 50% joint venture partner in the Lik Project, Teck American Incorporated, a wholly owned subsidiary of Teck Resources Limited (both companies are referred to as “Teck”), to further the exploration and evaluate potential development plans for the Lik Project. During the nine months ended September 30, 2024, Solitario began work on a new early-stage project, the Cat Creek project in Colorado (the “Cat Creek Project”). Solitario is conducting mineral exploration on its Golden Crest Project and the Cat Creek Project on its own. Solitario anticipates using its cash and short-term investments, in part, to fund costs and activities to further the exploration of its core mineral projects, the Florida Canyon Project, Lik Project and Golden Crest Project, as well as its Cat Creek Project, and to potentially acquire additional mineral property assets. The fluctuations in precious metal and other commodity prices contribute to a challenging environment for mineral exploration and development, which has created opportunities as well as challenges for the potential acquisition of early-stage and advanced mineral exploration projects or other related assets at potentially attractive terms. The accompanying interim condensed consolidated financial statements of Solitario for the three and nine months ended September 30, 2024 are unaudited and are prepared in accordance with accounting principles generally accepted in the United States of America (“generally accepted accounting principles”). They do not include all disclosures required by generally accepted accounting principles for annual financial statements, but in the opinion of management, include all adjustments necessary for a fair presentation. Interim results are not necessarily indicative of results which may be achieved in the future or for the full year ending December 31, 2024. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto which are included in Solitario’s Annual Report on Form 10-K for the year ended December 31, 2023 filed with the SEC on March 22, 2024 (the “2023 Annual Report”). The accounting policies set forth in those annual financial statements are the same as the accounting policies utilized in the preparation of these condensed consolidated financial statements, except as modified for appropriate interim financial statement presentation.
Recent accounting pronouncements	In August 2023, the FASB issued Accounting Standards Update (“ASU”) 2023-05, Business Combinations - Joint Venture Formations (Subtopic 805-60): Recognition and Initial Measurement, which clarifies the business combination accounting for joint venture formations. The amendments in the ASU seek to reduce diversity in practice that has resulted from a lack of authoritative guidance regarding the accounting for the formation of joint ventures in separate financial statements. The amendments also seek to clarify the initial measurement of joint venture net assets, including businesses contributed to a joint venture. The guidance is applicable to all entities involved in the formation of a joint venture. The amendments are effective for all joint venture formations with a formation date on or after January 1, 2025. Early adoption and retrospective application of the amendments are permitted. Solitario does not anticipate early adoption. Solitario is evaluating the new guidance and has not yet determined the impact of ASU 2023-05 on its condensed consolidated financial statements. In November 2023, the FASB issued ASU 2023-07 which improves disclosures about a public entity’s reportable segments and addresses requests from investors and other allocators of capital for additional, more detailed information about a reportable segment’s expenses. The ASU applies to all public entities that are required to report segment information in accordance with ASC 280 and is effective starting in annual periods beginning after December 15, 2023. The adoption is not expected to have a material impact on the Company's consolidated financial statements or disclosures. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, amending income tax disclosure requirements for the effective tax rate reconciliation and income taxes paid. The amendments in ASU 2023-09 are effective for public business entities for fiscal years beginning after December 15, 2024 and are applied prospectively. Early adoption and retrospective application of the amendments are permitted. Solitario does not anticipate early adoption. Solitario does not expect the adoption of ASU No. 2023-09 to have a material impact on its consolidated financial position or results of operations.
Risks and Uncertainties	Solitario is subject to various risks and uncertainties that are specific to the nature of its business and the exploration of its mineral properties. Solitario also faces various macro-economic risks and uncertainties, such as risks related to health epidemics, pandemics, and other outbreaks or resurgences of communicable diseases, the occurrence of natural disasters, rising geopolitical tension and instability, acts of war or terrorism, global economic uncertainty, inflationary pressures, increased interest rates, and volatility and disruption in national and international financial markets. These risks and uncertainties could significantly disrupt Solitario’s operations and may materially and adversely affect its business and financial condition. Certain of these risks and uncertainties are discussed under the heading “Risk Factors” in Part I, Item 1A of our 2023 Annual Report and under the heading “Forward-Looking Statements” in Item 2(l) of Part I of this report.
Financial reporting	The condensed consolidated financial statements include the accounts of Solitario and its wholly owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation. The condensed consolidated financial statements are prepared in accordance with generally accepted accounting principles and are expressed in US dollars.
Cash equivalents	Cash equivalents include investments in highly liquid money-market securities with original maturities of three months or less when purchased. As of September 30, 2024, $21,000 of Solitario’s cash is held in brokerage accounts and foreign banks, which are not covered under the Federal Deposit Insurance Corporation (“FDIC”) rules for the United States.
Money market funds	Solitario invests in money market funds that seek to maintain a stable net asset value. These funds invest in high-quality, short-term, diversified money market instruments, short-term treasury bills, federal agency securities, certificates of deposits, and commercial paper. Solitario includes its money market funds in short-term investments. Solitario believes the redemption value of these funds is likely to be the fair value, which is represented by the net asset value. Redemption is permitted daily without written notice. Solitario’s money market funds of $6,398,000 and $7,738,000, respectively, at September 30, 2024 and December 31, 2023 are included in short-term investments.
Restricted Cash	Solitario’s restricted cash represents investments in certificates of deposit and are restricted primarily for reclamation funding or surety bonds. Restricted cash and cash equivalents balances are carried at fair value. Non-current restricted cash is reported in a separate line on the condensed consolidated balance sheets and totaled $100,000 at September 30, 2024. There were no restricted cash amounts at December 31, 2023. Cash, excluding restricted cash, at September 30, 2024 and December 31, 2023 was $86,000 and $200,000, respectively.
Short-term investments	Solitario’s short-term investments at September 30, 2024 consists of its investment of $6,398,000 in a money market account held in a brokerage firm. At December 31, 2023 Solitario’s short term investments included a money market account of $7,738,000 and United States Treasury Securities (“USTS”) of $698,000 with maturities between one and two months.
Earnings per share	The calculation of basic and diluted earnings (loss) per share is based on the weighted average number of shares of common stock outstanding during the three and nine months ended September 30, 2024 and 2023. Potentially dilutive shares related to outstanding common stock options of 5,348,500 and 3,828,500, respectively, for the three and nine months ended September 30, 2024 and outstanding common stock options of 5,195,000 and 5,390,000, respectively, for the three and nine months ended September 30, 2023 were excluded from the calculation of diluted loss per share because the effects were anti-dilutive.

Mineral Property (Tables)

Mineral Property (Tables)	9 Months Ended
Mineral Property (Tables)	Sep. 30, 2024
Mineral Properties
Investment in mineral property	(in thousands) September 30, December 31, 2024 2023 Exploration Lik (Alaska – US) $ 15,611 $ 15,611 Golden Crest (South Dakota – US) 1,078 1,035 Cat Creek (Colorado – US) 12 - Total exploration mineral properties $ 16,701 $ 16,646
Exploration expense	(in thousands) Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 Geologic and field expenses $ 1,977 $ 895 $ 2,628 $ 1,630 Administrative 90 23 280 118 Total exploration costs $ 2,067 $ 918 $ 2,908 $ 1,748

Marketable Equity Securities (T

Marketable Equity Securities (Tables)	9 Months Ended
Marketable Equity Securities (Tables)	Sep. 30, 2024
Marketable Equity Securities
Schedule of 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
Marketable securities and adjustment 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
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 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 )
Schedule Of Changes in 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 )

Leases (Tables)

Leases (Tables)	9 Months Ended
Leases (Tables)	Sep. 30, 2024
Leases
Schedule of maturities of lease liability	Future lease payments (in thousands) Remaining payments 2024 $ 11 2025 45 2026 7 Total lease payments 63 Less amount of payments representing interest (3 ) Present value of lease payments $ 60

Other Assets (Tables)

Other Assets (Tables)	9 Months Ended
Other Assets (Tables)	Sep. 30, 2024
Other Assets
Schedule of Other assets	(in thousands) September 30, December 31, 2024 2023 Furniture and fixtures, net of accumulated depreciation $ 74 $ 83 Office lease asset 56 83 Other assets 4 4 Total other $ 134 $ 170

Fair Value (Tables)

Fair Value (Tables)	9 Months Ended
Fair Value (Tables)	Sep. 30, 2024
Fair Value
Financial assets and liabilities measured at fair value	(in thousands) Level 1 Level 2 Level 3 Total Assets Short-term investments $ 6,398 $ - $ - $ 6,398 Marketable equity securities $ 1,398 $ - $ - $ 1,398 Liabilities Kinross call options $ 82 $ - $ - $ 82 (in thousands) Level 1 Level 2 Level 3 Total Assets Short-term investments $ 8,436 $ - $ - $ 8,436 Marketable equity securities $ 1,032 $ - $ - $ 1,032

Shareholders Equity (Tables)

Shareholders Equity (Tables)	9 Months Ended
Shareholders Equity (Tables)	Sep. 30, 2024
Shareholders Equity
Schedule Of Shareholders' Equity	(in thousands, except Share amounts) Common Common Additional Total Stock Stock Paid-in Accumulated Shareholders’ Shares Amount Capital Deficit Equity Balance at December 31, 2023 79,586,358 $ 796 $ 82,796 $ (57,642 ) $ 25,950 Stock-based compensation expense - - 59 - 59 Issuance of shares- option exercises 50,000 - 14 - 14 Net loss - - - (730 ) (730 ) Balance at March 31, 2024 79,636,358 $ 796 $ 82,869 $ (58,372 ) $ 25,293 Stock-based compensation expense - - 356 - 356 Issuance of shares for cash - ATM 1,802,060 18 1,200 - 1,218 Net loss - - - (762 ) (762 ) Balance at June 30, 2024 81,438,418 $ 814 $ 84,425 $ (59,134 ) $ 26,105 Stock-based compensation expense - - 125 - 125 Issuance of shares- option exercises 200,000 2 38 - 40 Net loss - - - (2,276 ) (2,276 ) Balance at September 30, 2024 81,638,418 $ 816 $ 84,588 $ (61,410 ) $ 23,994 (in thousands, except Share amounts) Common Common Additional Total Stock Stock Paid-in Accumulated Shareholders’ Shares Amount Capital Deficit Equity Balance at December 31, 2022 64,801,373 $ 648 $ 74,886 $ (53,888 ) $ 21,646 Stock-based compensation expense - - 67 - 67 Net loss - - - (380 ) (380 ) Balance at March 31, 2023 64,801,373 $ 648 $ 74,953 $ (54,268 ) $ 21,333 Stock-based compensation expense - - 59 - 59 Issuance of shares - option exercises 50,000 1 13 - 14 Net loss - - - (1,040 ) (1,040 ) Balance at June 30, 2023 64,851,373 $ 649 $ 75,025 $ (55,308 ) $ 20,366 Stock-based compensation expense - - 58 - 58 Issuance of shares - option exercises 145,000 1 44 - 45 Private placement 4,166,667 42 2,380 2,422 Net loss - - - (1,292 ) (1,292 ) Balance at September 30, 2023 69,163,040 $ 692 $ 77,507 $ (56,600 ) $ 21,599

Business and Significant Acco_3

Business and Significant Accounting Policiess (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Business and Significant Accounting Policies
Money market fund	$ 6,398,000		$ 6,398,000		$ 7,738,000
Short-term investments in money market	6,398,000		6,398,000		7,738,000
Non-current restricted cash	100,000		100,000		0
Cash and restricted cash	86,000		86,000		200,000
Certificates Of Deposit, Fair Value					$ 698,000
Cash And Cash Equivalents Held In Brokerage Accounts And Foreign Banks	$ 21,000		$ 21,000
Potentially Dilutive Shares Related To Outstanding Common Stock Options	5,348,500	5,195,000	3,828,500	5,390,000

Mineral Properties (Details)

Mineral Properties (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Mineral Properties	$ 16,701	$ 16,646
Lik project (Alaska - US)
Mineral Properties	16,701	16,646
Cat Creek (Colorado - US) [Member]
Mineral Properties	12	0
Golden Crest (South Dakota - US) [Member]
Mineral Properties	$ 1,078	$ 1,035

Mineral Properties (Details 1)

Mineral Properties (Details 1) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Mineral Properties (Details 1) - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Mineral Properties
Geologic and field expenses	$ 1,977	$ 895	$ 2,628	$ 1,630
Administrative	90	23	280	118
Total exploration expense	$ 2,067	$ 918	$ 2,908	$ 1,748

Mineral Properties (Details Nar

Mineral Properties (Details Narrative)	9 Months Ended
Mineral Properties (Details Narrative)	Sep. 30, 2024 USD ($)
Asset retirement obligation	$ 125,000
Reclamation liability	$ 20,000
Golden Crest Project [Member]
Description of agreement	During the nine months ended September 30, 2024, Solitario added a new area to its existing Golden Crest Project, covering approximately 98 claims
Initial cost for staking claims	$ 43,000
Lease acquisition cost	$ 12,000

Marketable Equity Securities (D

Marketable Equity Securities (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Kinross Gold Corp. [Member]
Marketable equity securities at fair value	$ 936	$ 605
Shares	100,000	100,000
Highland Silver Corp [Member]
Marketable equity securities at fair value	$ 0	$ 33
Shares	0	100,000
Vendetta Mining Corp. [Member]
Marketable equity securities at fair value	$ 57	$ 118
Shares	7,750,000	7,750,000
Vox Royalty Corp. [Member]
Marketable equity securities at fair value	$ 405	$ 276
Shares	134,055	134,055

Marketable Equity Securities _2

Marketable Equity Securities (Details 1) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Marketable Equity Securities
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

Marketable Equity Securities _3

Marketable Equity Securities (Details 2) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Marketable Equity Securities
Cost of marketable equity securities sold	$ 0	$ 0	$ 0	$ 0
Realized (loss) gain on marketable equity securities sold	0	0	54	0
Proceeds from the sale of marketable equity securities sold	0	0	(54)	0
Net (loss) gain on marketable equity securities	110	(141)	420	(39)
Change in marketable equity securities at fair value	$ 110	$ (141)	$ 366	$ (39)

Marketable Equity Securities _4

Marketable Equity Securities (Details 3) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Marketable Equity Securities
Unrealized (loss) gain on marketable securities	$ 110	$ (141)	$ 420	$ (39)
Realized (loss) gain on marketable equity securities sold	0	0	(54)	0
Net (loss) gain on marketable securities	$ 110	$ (141)	$ 366	$ (39)

Marketable Equity Securities _5

Marketable Equity Securities (Details Narrative) - Highland Silver Corp [Member]	9 Months Ended
	Sep. 30, 2024 USD ($) shares
Common stock shares sold \| shares	100,000
Proceeds from sale of common stock	$ 54,000
Gain on sale of common stock	$ 54,000

Leases (Details)

Leases (Details) $ in Thousands	Sep. 30, 2024 USD ($)
Leases
Remaining payments 2024	$ 11
2025	45
2026	7
Total Lease Payments	63
Less amount of payments representing interest	(3)
Present Value Of Lease Payments	$ 60

Leases (Details Narrative)

Leases (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
Leases (Details Narrative) - USD ($)	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Non-cash Lease Amortization Of Right Of Use Lease Asset Expense Recognized			$ 31,000	$ 30,000
WR Lease [Member]
Non-cash Lease Amortization Of Right Of Use Lease Asset Expense Recognized	$ 10,000	$ 10,000	$ 31,000	30,000
Discount Rate			7%
Related asset and liability			$ 87,000
Cash Lease Payments	$ 11,000	$ 11,000	$ 33,000	$ 33,000

Other Assets (Details)

Other Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Other assets	$ 134	$ 170
Furniture and Fixtures [Member]
Other assets	74	83
Right of Use Office Lease Asset [Member]
Other assets	56	83
Exploration Bonds and Other Assets [Member]
Other assets	4	4
Total Other Assets [Member]
Other assets	$ 134	$ 170

Derivative Instruments (Details

Derivative Instruments (Details Narrative) - Kinross Calls [Member] - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Gain loss on derivative instruments of covered calls	$ (22,000)	$ (7,000)	$ (43,000)	$ (30,000)
Covered calls outstanding	$ 82,000		82,000
Proceeds from sale of covered calls			$ 39,000	$ 31,000

Fair Value (Details)

Fair Value (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Assets
Short-term investments	$ 6,398	$ 8,436
Marketable equity securities	1,398	1,032
Kinross call options	82
Level 1 [Member]
Assets
Short-term investments	6,398	8,436
Marketable equity securities	1,398	1,032
Kinross call options	82
Level 2 [Member]
Assets
Short-term investments	0	0
Marketable equity securities	0	0
Kinross call options	0
Level 3 [Member]
Assets
Short-term investments	0	0
Marketable equity securities	0	$ 0
Kinross call options	$ 0

Commitments and contingencies (

Commitments and contingencies (Details Narrative)	9 Months Ended
Commitments and contingencies (Details Narrative)	Sep. 30, 2024 USD ($)
Commitments and Contingencies
Asset retirement obligation	$ 145,000
Future total minimum rent payments	$ 63,000

Employee Stock Compensation P_2

Employee Stock Compensation Plans (Details Narrative) - USD ($)	1 Months Ended	3 Months Ended		9 Months Ended		12 Months Ended
	Jun. 20, 2023	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Jun. 18, 2013
Unrecognized stock option compensation cost related to non-vested options		$ 966,000		$ 966,000
Stock-based compensation expense		125,000	$ 58,000	$ 540,000	$ 184,000
2023 Plan [Member]
Option exercise price				$ 0.85
Options granted				2,125,000
Expected life years				5 years
Expected volatility				71.50%
Options vesting description				vest 25% on the date of grant and 25% on each anniversary date for the next three years
Risk free interest rate				4.30%
Grant date fair value				$ 1,120,000
Common stock, capital shares reserved for future issuance	5,000,000
Intrinsic value		$ 10,000		$ 10,000
Options, vested and exercisable		2,175,000		2,175,000		50,000
Vested and exercisable shares to acquire shares of common stock		543,750		543,750		12,500
Options, vested and exercisable exercise price, Minimum		$ 0.51		$ 0.51
Options, vested and exercisable exercise price, Maximum		0.85		$ 0.85
Average remaining contractual life of Solitario's outstanding options	10 years			4 years 8 months 1 day
2013 Plan [Member]
Common stock, capital shares reserved for future issuance							5,750,000
Options exercise price, Minimum		0.20	$ 0.28	$ 0.20	$ 0.28
Options exercise price, Maximum		$ 0.28	$ 0.31	$ 0.28	$ 0.31
2013 Plan [Member] \| Stock Option [Member]
Options granted		200,000	145,000	250,000	195,000
Stock option exercised in period, shares				3,173,500		3,778,500
Intrinsic value		$ 718,000		$ 718,000
Proceeds from stock options exercised		$ 40,000	$ 45,000	$ 54,000	$ 59,000
Options, vested and exercisable		2,171,000		2,171,000		2,563,500
Options, vested and exercisable price per share amount		$ 0.20		$ 0.20		$ 0.69
Aggregate intrinsic value		$ 132,000	$ 37,000	$ 144,000	$ 52,000
Average remaining contractual life of Solitario's outstanding options				2 years 1 month 2 days

Shareholders Equity (Details)

Shareholders Equity (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended		12 Months Ended
Shareholders Equity (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Beginning Balance, Amount	$ 26,105	$ 25,293	$ 25,950	$ 20,366	$ 21,333	$ 21,646	$ 25,950	$ 21,646	$ 21,646
Stock-based compensation expense	125	356	59	58	59	67
Issuance Of Shares - Option Exercises	40	1,218	14	45	14
Net Loss	(2,276)	(762)	(730)	(1,292)	(1,040)	(380)	(3,768)	(2,712)
Ending Balance, Amount	23,994	26,105	25,293	21,599	20,366	21,333	23,994	21,599	25,950
Private placement				2,422
Common Stock [Member]
Beginning Balance, Amount	814	796	796	649	648	648	796	648	648
Stock-based compensation expense	0	0	0	0	0	0
Issuance Of Shares - Option Exercises	2	18	0	1	1
Net Loss	0	0	0	0	0	0
Ending Balance, Amount	$ 816	$ 814	$ 796	$ 692	$ 649	$ 648	$ 816	$ 692	$ 796
Beggining Balance, Shares	81,438,418	79,636,358	79,586,358	64,851,373	64,801,373	64,801,373	79,586,358	64,801,373	64,801,373
Issuance of shares- option exercises, shares	200,000	1,802,060	50,000	145,000	50,000
Private placement				$ 42
Private placement, shares				4,166,667
Ending Balance, Shares	81,638,418	81,438,418	79,636,358	69,163,040	64,851,373	64,801,373	81,638,418	69,163,040	79,586,358
Additional Paid-in Capital [Member]
Beginning Balance, Amount	$ 84,425	$ 82,869	$ 82,796	$ 75,025	$ 74,953	$ 74,886	$ 82,796	$ 74,886	$ 74,886
Stock-based compensation expense	125	356	59	58	59	67
Issuance Of Shares - Option Exercises	38	1,200	14	44	13
Net Loss	0	0	0	0	0	0
Ending Balance, Amount	84,588	84,425	82,869	77,507	75,025	74,953	84,588	77,507	82,796
Private placement				2,380
Accumulated Deficit [Member]
Beginning Balance, Amount	(59,134)	(58,372)	(57,642)	(55,308)	(54,268)	(53,888)	(57,642)	(53,888)	(53,888)
Stock-based compensation expense	0	0	0	0	0	0
Issuance Of Shares - Option Exercises	0	0	0	0	0
Net Loss	(2,276)	(762)	(730)	(1,292)	(1,040)	(380)
Ending Balance, Amount	$ (61,410)	$ (59,134)	$ (58,372)	$ (56,600)	$ (55,308)	$ (54,268)	$ (61,410)	$ (56,600)	$ (57,642)

Shareholders Equity (Details Na

Shareholders Equity (Details Narrative) - USD ($)	1 Months Ended		9 Months Ended
Shareholders Equity (Details Narrative) - USD ($)	Dec. 19, 2023	Jul. 31, 2023	Sep. 30, 2024
Stock Purchase Agreement [Member]
Shares of common stock issued exercise price per share		$ 0.60
Offering costs		$ 78,000
Net proceeds from shares of common stock issued		$ 2,422,000
Shares of common stock issued during period		4,166,667
ATM Agreement [Member]
Proceeds From Sales Of Shares	$ 10,000,000
Commission Rate	3%
Shares of common stock issued exercise price per share			$ 0.70
Net proceeds from shares of common stock issued			$ 1,218,000
Shares of common stock issued during period			1,802,060