Solitario Resources Corp. Reports Decreased Net Loss of $1.87 Million in Q3 2025

Solitario Resources Corp. reported a net loss of $1.87 million, or $0.02 per share, for the third quarter of 2025, a decrease from a net loss of $2.28 million, or $0.03 per share, in the same period last year. For the nine months ending September 30, 2025, the company recorded a net loss of $3.32 million, compared to a loss of $3.77 million for the same period in 2024. The reduction in losses was attributed to lower exploration expenses, which decreased to $1.65 million in Q3 2025 from $2.07 million in Q3 2024, and a slight reduction in general and administrative expenses.

Total operating expenses for the third quarter of 2025 were $2.03 million, down from $2.46 million in the prior year. The decrease was primarily driven by reduced exploration costs at the Golden Crest Project, which fell to $1.52 million from $1.96 million year-over-year. The company also reported a realized and unrealized gain on marketable equity securities of $80,000 in Q3 2025, compared to $110,000 in Q3 2024. Interest and dividend income decreased to $82,000 from $94,000, reflecting a lower average balance in money market accounts.

Solitario's total assets increased to $25.37 million as of September 30, 2025, up from $23.04 million at the end of 2024. This growth was primarily due to an increase in cash and short-term investments, which rose to $7.95 million, including $7.57 million in a money market account. The company’s working capital also improved to $7.89 million from $5.62 million at the end of 2024, largely due to successful private placements of common stock that generated significant cash inflow.

In terms of operational developments, Solitario continues to focus on its core mineral properties, including the Florida Canyon Project in Peru and the Lik Project in Alaska. The company has also initiated exploration activities at its newly acquired Cat Creek and Bright Angel projects in Colorado. As of September 30, 2025, Solitario had 90,612,981 shares of common stock outstanding, reflecting an increase from the previous year, which is indicative of its ongoing capital-raising efforts.

Looking ahead, Solitario anticipates utilizing its cash reserves and short-term investments to fund exploration activities and potential acquisitions of mineral properties. The company has budgeted approximately $3.91 million for exploration expenditures in 2025, with expectations that these costs will remain comparable to those incurred in 2024. However, the company acknowledges the challenges posed by fluctuating commodity prices and market conditions, which may impact its future operations and financial performance.