Solitario Resources Corp. Reports $3.83 Million Net Loss for Fiscal Year 2025

Solitario Resources Corp. reported a net loss of $3.83 million, or $0.04 per share, for the fiscal year ending December 31, 2025, a decrease from a net loss of $5.37 million, or $0.07 per share, in the previous year. The reduction in losses was attributed to a decrease in exploration expenses, which fell to $2.85 million from $4.15 million in 2024, and a reduction in general and administrative expenses to $1.57 million from $1.88 million. Additionally, the company recorded a realized and unrealized gain on marketable equity securities of $680,000, compared to a gain of $343,000 in 2024. However, interest income decreased to $256,000 from $372,000, and losses on derivative instruments increased to $336,000 from $29,000.

Solitario's exploration activities primarily focused on its Golden Crest project in South Dakota, where exploration costs amounted to $2.48 million in 2025, down from $3.88 million in 2024. The company completed seven drill holes in 2025, compared to eleven in the previous year. The Lik project in Alaska incurred exploration expenses of $159,000, while the Florida Canyon project in Peru, which is fully funded by joint venture partner Nexa Resources, had minimal expenses. The company also initiated exploration activities at its newly acquired Cat Creek and Bright Angel projects, with planned expenditures for 2026 totaling approximately $5.67 million.

As of December 31, 2025, Solitario held cash and short-term investments of $7.66 million, with total assets amounting to $25.03 million, an increase from $23.04 million in 2024. The company’s working capital improved to $7.80 million from $5.62 million in the previous year. Solitario's mineral properties, which include interests in the Florida Canyon and Lik projects, remained unchanged in value at $16.73 million. The company has no reported mineral reserves and continues to focus on exploration and potential development of its properties.

Looking ahead, Solitario plans to conduct a two-phase drilling program at the Golden Crest project in 2026, pending the receipt of necessary permits. The first phase will involve approximately 4,000 meters of drilling, with a potential second phase of 6,000 meters depending on results. The company also aims to continue exploration at its other projects, including the Cat Creek and Bright Angel projects, while evaluating potential acquisitions of new mineral properties. The fluctuating prices of precious metals and other commodities present both challenges and opportunities for Solitario's exploration efforts.