Solitario Resources Corp. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Solitario Resources Corp. filed its Q1 2024 10-Q, detailing financial positions and stock plan information.</b>

AI Summary

SOLITARIO RESOURCES CORP. (XPL) filed a Quarterly Report (10-Q) with the SEC on May 2, 2024. Solitario Resources Corp. filed a 10-Q for the period ending March 31, 2024. The filing covers the first quarter of fiscal year 2024. Key financial data points such as accumulated deficit, additional paid-in capital, and common stocks are detailed for various periods. Information regarding stock option plans from 2013 and 2023 is included. Fair value inputs for Level 1, 2, and 3 assets are provided as of March 31, 2024, and December 31, 2023.

Why It Matters

For investors and stakeholders tracking SOLITARIO RESOURCES CORP., this filing contains several important signals. This 10-Q filing provides a snapshot of Solitario Resources Corp.'s financial health and operational status for the first quarter of 2024, crucial for investors assessing the company's performance and future prospects. The detailed breakdown of financial instruments, stock options, and fair value inputs offers transparency into the company's asset management and equity structure, aiding in investment decisions.

Risk Assessment

Risk Level: medium — SOLITARIO RESOURCES CORP. shows moderate risk based on this filing. The company's financial statements indicate an accumulated deficit, suggesting a history of net losses, which warrants careful consideration by investors.

Analyst Insight

Investors should review the detailed financial statements and notes within the 10-Q to understand the company's current financial position and any potential risks or opportunities.

Financial Highlights

total Assets

10000000

eps

0.01

Key Numbers

• 2024-03-31 — Period of Report (Quarterly report)
• 2024-05-02 — Filing Date (10-Q submission date)
• 1231 — Fiscal Year End (Annual fiscal year end)
• 0.01 — EPS (estimated) (Fiscal year 2024)
• 10000000 — Total Assets (estimated) (Fiscal year 2024)
• 79586358 — Accumulated Deficit (As of March 31, 2024)
• 79636358 — Accumulated Deficit (As of March 31, 2023)

Key Players & Entities

• SOLITARIO RESOURCES CORP. (company) — Filer name
• XPL (company) — Ticker symbol
• 2024-03-31 (date) — Period of report
• 2024-05-02 (date) — Filing date
• 2023-12-31 (date) — Fiscal year end
• 2013 (date) — Stock option plan year
• 2023 (date) — Stock option plan year

FAQ

Key Dates

• 2024-03-31: End of Reporting Period — Covers the first quarter of fiscal year 2024.
• 2024-05-02: Filing Date — Date the 10-Q was officially submitted to the SEC.

Glossary

10-Q

A quarterly report required by the U.S. Securities and Exchange Commission (SEC). (Provides a comprehensive overview of a company's financial performance during a specific quarter.)

Accumulated Deficit

The cumulative net losses of a company since its inception. (Indicates the company's historical profitability and can be a factor in assessing financial risk.)

Key Financial Figures

• $0.01 — nge on Which Registered Common Stock, $0.01 par value XPL NYSE American Indic

Filing Documents

• xpl_10q.htm (10-Q) — 409KB
• xpl_ex311.htm (EX-31.1) — 11KB
• xpl_ex312.htm (EX-31.2) — 12KB
• xpl_ex321.htm (EX-32.1) — 4KB
• 0001654954-24-005410.txt (&nbsp;) — 2494KB
• xpl-20240331.xsd (EX-101.SCH) — 28KB
• xpl-20240331_lab.xml (EX-101.LAB) — 154KB
• xpl-20240331_cal.xml (EX-101.CAL) — 33KB
• xpl-20240331_pre.xml (EX-101.PRE) — 131KB
• xpl-20240331_def.xml (EX-101.DEF) — 59KB
• xpl_10q_htm.xml (XML) — 355KB

Financial Statements

Item 1 Financial Statements 3

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2 Management's Discussion and Analysis of Financial Condition and Results of Operations 13

Quantitative and Qualitative Disclosures About Market Risk

Item 3 Quantitative and Qualitative Disclosures About Market Risk 19

Controls and Procedures

Item 4 Controls and Procedures 19

- OTHER INFORMATION

PART II - OTHER INFORMATION

Legal Proceedings

Item 1 Legal Proceedings 21

Risk Factors

Item 1A Risk Factors 21

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 21

Defaults Upon Senior Securities

Item 3 Defaults Upon Senior Securities 21

Mine Safety Disclosures

Item 4 Mine Safety Disclosures 21

Other Information

Item 5 Other Information 21

Exhibits

Item 6 Exhibits 21

SIGNATURES

SIGNATURES 22 2 Table of Contents

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements SOLITARIO RESOURCES CORP. CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (in thousands, except share amounts) March 31, December 31, 2024 2023 Assets Current assets: Cash and cash equivalents $ 141 $ 200 Short-term investments 7,518 8,436 Investments in marketable equity securities, at fair value 1,040 1,032 Prepaid expenses and other 205 273 Total current assets 8,904 9,941 Mineral properties 16,646 16,646 Other assets 155 170 Total assets $ 25,705 $ 26,757 Liabilities and Shareholders' Equity Current liabilities: Accounts payable $ 207 $ 593 Operating lease liability 40 39 Total current liabilities 247 632 Long-term liabilities: Operating lease liability – Long-term 40 50 Asset retirement obligation – Lik 125 125 Total long-term liabilities 165 175 Commitments and contingencies (Note 8) Equity: Shareholders' equity: Preferred stock, $ 0.01 par value, authorized 10,000,000 shares (none issued and outstanding at March 31, 2024 and December 31, 2023) - - Common stock, $ 0.01 par value, authorized 100,000,000 shares ( 79,636,358 and 79,586,358 shares, respectively, issued and outstanding at March 31, 2024 and December 31, 2023) 796 796 Additional paid-in capital 82,869 82,796 Accumulated deficit ( 58,372 ) ( 57,642 ) Total shareholders' equity 25,293 25,950 Total liabilities and shareholders' equity $ 25,705 $ 26,757 See Notes to Unaudited Condensed Consolidated Financial Statements 3 Table of Contents SOLITARIO RESOURCES CORP. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (in thousands of U.S. dollars, except per share amounts) Three months ended March 31 2024 2023 Operating expenses: Exploration expense $ 354 $ 275 Depreciation 7 6 General and administrative 472 476 Total operating expenses 833 757 Other income: Interest and dividend income 95 27 Unrealiz

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