SOLITARIO RESOURCES CORP. XPL
Solitario Resources Corp. ("we," "us," "our," "Solitario," or the "Company") is smaller reporting company as defined by rules issued by the SEC. Solitario was incorporated in the State of Colorado on November 15, 1984. Solitario has been actively involved in mineral exploration since 1993. Solitario's primary business is to acquire exploration mineral properties 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 of the project. At that point, or sometime prior to that point, 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's primary focus is 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 as a means to acquire an interest in new precious and base metal properties and assets with exploration potential or other potential corporate transactions that Solitario determines to be favorable to Solitario.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | — | — | $0 | $408.0K | $502.0K | — | — |
| SG&A | $1.6M | $1.9M | $1.7M | $1.4M | $952.0K | $1.0M | $1.4M | $2.0M | $1.2M | $2.2M |
| Total operating expenses | $4.4M | $6.1M | $4.1M | $3.7M | $2.2M | $1.5M | — | — | — | — |
| Interest expense | — | — | — | — | — | — | — | — | $123.0K | $44.0K |
| Pre-tax income | -$3.8M | -$5.4M | -$3.8M | -$3.9M | -$2.4M | -$939.0K | -$3.3M | -$3.6M | — | -$1.4M |
| Income tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | — | $353.0K |
| Net income | -$3.8M | -$5.4M | -$3.8M | -$3.9M | -$2.4M | -$939.0K | -$3.3M | -$3.6M | $942.0K | -$1.7M |
| EPS, basic | — | -0.07 | -0.05 | — | — | — | — | — | — | — |
| EPS, diluted | -0.04 | -0.07 | — | — | -0.04 | -0.02 | -0.06 | -0.06 | -0.02 | -0.04 |
| Shares, diluted (wtd. avg.) | 86.8M | 81.0M | 68.7M | 64,263 | 58,709 | — | — | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $82.0K | $81.0K | $200.0K | $316.0K | $462.0K | $605.0K | $574.0K | $117.0K | $214.0K | $119.0K |
| Short-term investments | $7.6M | $4.5M | $8.4M | $4.0M | $5.1M | $5.8M | $6.8M | $10.2M | $11.6M | $15.2M |
| Total current assets | $8.0M | $6.0M | $9.9M | $5.3M | $7.2M | $8.0M | $8.8M | $12.1M | $14.6M | $16.8M |
| Property, plant and equipment | — | — | — | — | — | — | — | $36.0K | $31.0K | $32.0K |
| Total assets | $25.0M | $23.0M | $26.8M | $22.0M | $23.6M | $23.8M | — | — | — | $17.6M |
| Accounts payable | $208.0K | $258.0K | $593.0K | $228.0K | $239.0K | $157.0K | $228.0K | $688.0K | -$492.0K | $124.0K |
| Total current liabilities | $215.0K | $368.0K | $632.0K | $263.0K | $276.0K | $174.0K | $269.0K | $688.0K | $141.0K | $126.0K |
| Retained earnings | -$66.8M | -$63.0M | -$57.6M | -$53.9M | -$50.0M | -$47.6M | -$46.7M | -$43.4M | -$40.3M | -$39.4M |
| Total equity | $24.7M | $22.5M | $25.9M | $21.6M | $23.2M | $23.5M | $24.1M | $27.1M | $30.1M | $17.5M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$3.6M | -$5.1M | -$3.3M | -$2.9M | -$2.2M | -$1.0M | -$2.6M | -$1.4M | -$1.7M | -$1.8M |
| Depreciation and amortisation | $20.0K | $27.0K | — | — | — | — | — | $20.0K | $10.0K | — |
| Stock-based compensation | $583.0K | $666.0K | $247.0K | $338.0K | — | — | — | — | — | — |
| Investing cash flow | -$1.8M | $3.9M | -$4.4M | $701.0K | $90.0K | $976.0K | $3.1M | $1.4M | $1.8M | -$15.5M |
| Financing cash flow | $5.3M | $1.3M | $7.6M | $2.1M | $1.9M | $65.0K | -$13.0K | -$101.0K | -$32.0K | -$248.0K |
| Buybacks | — | — | — | — | $0 | $5.0K | $13.0K | $101.0K | $32.0K | $248.0K |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001654954-26-002156.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | $502.0K | $408.0K | $0 | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — | — |
| Net income | -$1.7M | $942.0K | -$3.6M | -$3.3M | -$939.0K | -$2.4M | -$3.9M | -$3.8M | -$5.4M | -$3.8M |
Recent filings and events
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Auditor changed The company changed auditors. Sometimes routine; historically one of the more reliable warnings that something is wrong. Item 4.01
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
- Shareholder vote Item 5.07
- Regulation FD disclosure Item 7.01
- Annual report filed Form 10-K
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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