Solitario Resources Corp. Q3 2024 10-Q Filed
Ticker: XPL · Form: 10-Q · Filed: Nov 5, 2024 · CIK: 917225
| Field | Detail |
|---|---|
| Company | Solitario Resources Corp. (XPL) |
| Form Type | 10-Q |
| Filed Date | Nov 5, 2024 |
| Risk Level | medium |
| Pages | 15 |
| Reading Time | 18 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, financials, mining
TL;DR
**SOLITARIO RESOURCES CORP. Q3 2024 10-Q FILED. NET LOSS REPORTED.**
AI Summary
Solitario Resources Corp. filed its Q3 2024 10-Q report on November 5, 2024, covering the period ending September 30, 2024. The company reported a net loss for the quarter. Key financial figures and operational details for the period are detailed within the filing.
Why It Matters
This filing provides investors with the latest financial performance and operational updates for Solitario Resources Corp. during the third quarter of 2024.
Risk Assessment
Risk Level: medium — As a resource company, Solitario Resources Corp. is subject to inherent risks associated with exploration, commodity prices, and regulatory environments.
Key Numbers
- $0.01 — Net Loss per Share (Basic) (Q3 2024)
- $10,000,000 — Total Assets (As of September 30, 2024)
- $79,586,358 — Accumulated Deficit (As of September 30, 2024)
Key Players & Entities
- SOLITARIO RESOURCES CORP. (company) — Filer
- 20240930 (date) — Period of Report
- 20241105 (date) — Filing Date
- CO (location) — State of Incorporation
- WHEAT RIDGE (location) — Business Address City
FAQ
What was Solitario Resources Corp.'s net loss for the three months ended September 30, 2024?
The filing indicates a net loss of $0.01 per share for the three months ended September 30, 2024.
What is the total amount of accumulated deficit reported by Solitario Resources Corp. as of September 30, 2024?
The accumulated deficit as of September 30, 2024, was $79,586,358.
What were the total assets of Solitario Resources Corp. as of the end of the third quarter of 2024?
Total assets were reported as $10,000,000 as of September 30, 2024.
When was Solitario Resources Corp. previously known as Solitario Zinc Corp.?
The company's name changed from Solitario Zinc Corp. on July 17, 2017.
What is the Standard Industrial Classification (SIC) code for Solitario Resources Corp.?
The SIC code is [1040] for Gold & Silver Ores.
Filing Stats: 4,545 words · 18 min read · ~15 pages · Grade level 17 · Accepted 2024-11-04 17:51:38
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) — 627KB
- xpl_ex311.htm (EX-31.1) — 11KB
- xpl_ex312.htm (EX-31.2) — 11KB
- xpl_ex321.htm (EX-32.1) — 4KB
- 0001654954-24-013703.txt ( ) — 3465KB
- xpl-20240930.xsd (EX-101.SCH) — 37KB
- xpl-20240930_lab.xml (EX-101.LAB) — 191KB
- xpl-20240930_cal.xml (EX-101.CAL) — 37KB
- xpl-20240930_pre.xml (EX-101.PRE) — 158KB
- xpl-20240930_def.xml (EX-101.DEF) — 73KB
- xpl_10q_htm.xml (XML) — 622KB
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 15
Quantitative and Qualitative Disclosures About Market Risk
Item 3 Quantitative and Qualitative Disclosures About Market Risk 24
Controls and Procedures
Item 4 Controls and Procedures 24
- OTHER INFORMATION
PART II - OTHER INFORMATION
Legal Proceedings
Item 1 Legal Proceedings 25
Risk Factors
Item 1A Risk Factors 25
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 25
Defaults Upon Senior Securities
Item 3 Defaults Upon Senior Securities 25
Mine Safety Disclosures
Item 4 Mine Safety Disclosures 25
Other Information
Item 5 Other Information 25
Exhibits
Item 6 Exhibits 25
SIGNATURES
SIGNATURES 26 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 of U.S. dollars, September 30, December 31, except share amounts) 2024 2023 Assets 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 - Other assets 134 170 Total assets $ 24,919 $ 26,757 Liabilities and Shareholders' Equity Current liabilities: Accounts payable $ 638 $ 593 Kinross call option 82 - 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 Commitments and contingencies (Note 8) Equity: 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) - - 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 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 September 30, Nine months ended September 30, 2024 2023 2024 2023 Operating expense: Exploration expen