One-glance verdict
Not enough data
Fair value unavailable
Not enough cash-flow history to value this one with our method.
Fundamentals snapshot
Solitario Resources Corp.
XPL · ASE · Basic Materials · Other Industrial Metals & Mining
Current price
$0.63
52-week range
$0.53 - $0.98
Market cap
$60.02M
Balance sheet
Healthy
-17.32x Concerning
Net cash $9.09M. Interest coverage shows how many times profit covers the interest bill.
What stands out
0 Rewards
1 Risk
0 rewards · 1 risks
View details ↓What this company does
Solitario Resources Corp.
Solitario Resources is a company that searches for valuable metals like gold and zinc across North and South America. As an exploration stage company (a business that is still looking for mineral deposits rather than actively mining them), it does not yet have revenue from selling metals. Its value is therefore based on the potential of discovering a large, profitable deposit on the land it controls, which could one day be developed into a mine.
How the company got here
Founded in 1984, Solitario Resources Corp. has a long history as a mineral exploration company. For many years, it was known as Solitario Zinc Corp., reflecting its primary focus on zinc projects. A significant turning point came in 2021 when the company acquired the Golden Crest gold project in South Dakota, shifting its focus more towards gold exploration. This strategic shift led to the company changing its name to Solitario Resources Corp. in July 2023 to better represent its broader interest in various precious and base metals.
What it actually does
Solitario Resources is in the business of finding valuable metals in the ground, but it doesn't operate any mines itself. Think of them as treasure hunters for minerals like gold, zinc, copper, and others. Their main job is to acquire land that they believe might contain these metals and then explore it by drilling and testing rock samples. Once they find a promising deposit, their goal is to partner with a larger mining company that has the expertise and money to actually build and run a mine, or to sell the property outright.
Gold Projects
This is currently the company's main focus, centered on its 100%-owned Golden Crest project in South Dakota. Solitario is actively exploring this large area, which is near a historic gold district, hoping to identify significant gold deposits. They also own the Bright Angel copper-gold project in Colorado. The company spends its money on exploration activities like drilling, and its success in this area depends on whether they discover enough gold to attract a larger mining partner or a buyer for the property.
Zinc Projects
While gold is the current priority, Solitario still holds valuable interests in two major zinc projects. These are operated through joint ventures (partnerships with other companies who share the costs and risks). One is the Florida Canyon zinc project in Peru, where their partner, Nexa Resources, is funding all the exploration costs. The other is the Lik zinc deposit in Alaska, a joint venture with Teck Resources. This structure allows Solitario to benefit from these large, high-grade zinc deposits without having to pay for all the expensive development work themselves.
Critical Metals Projects
This is a newer and smaller part of Solitario's business, focusing on metals that are essential for modern technology and defense. They fully own the Cat Creek project in Colorado, which they are exploring for molybdenum and rhenium. These metals are used to make steel incredibly strong and resistant to heat. This segment represents an effort to diversify into metals that are in high demand for specialized industrial applications.
What management is betting on now
The company's leadership is heavily focused on proving the value of its Golden Crest gold project in South Dakota. They are investing significantly in drilling and exploration there, hoping to discover a major gold deposit that will attract a larger mining company. At the same time, they are advancing their critical metals and copper-gold projects in Colorado to the drilling stage. The strategy is to use their exploration expertise to find and define valuable mineral deposits, and then partner with larger companies to bring them into production, which minimizes Solitario's own financial risk.
Price history
How the share price has moved
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Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
Revenue
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Net income
$-1.83M
Diluted EPS
-0.02
Operating cash flow
$-1.38M
Free cash flow
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Sources
Revenue
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Net income
$-494.00K
Diluted EPS
-0.01
Operating cash flow
$-473.00K
Free cash flow
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Sources
Revenue
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Net income
$-509.00K
Diluted EPS
0.00
Operating cash flow
$-506.00K
Free cash flow
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Sources
Revenue
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Net income
$-1.87M
Diluted EPS
-0.02
Operating cash flow
$-1.66M
Free cash flow
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Sources
Revenue
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Net income
$-943.00K
Diluted EPS
-0.01
Operating cash flow
$-803.00K
Free cash flow
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Revenue
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Net income
$-511.00K
Diluted EPS
-0.01
Operating cash flow
$-598.00K
Free cash flow
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Sources
Revenue
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Net income
$-1.60M
Diluted EPS
-0.02
Operating cash flow
$-1.75M
Free cash flow
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Sources
Revenue
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Net income
$-2.28M
Diluted EPS
-0.03
Operating cash flow
$-1.78M
Free cash flow
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Is it cheap or expensive?
Fair value — vs current price $0.63
We couldn't calculate a fair value right now.
Is it drowning in debt?
Healthy
Net cash $9.1M - more cash than debt. Interest coverage -17.3x.
Net debt
$-9.09M
Interest coverage
-17.32x
Solitario Resources Corp.'s profit covers its interest bill about 0.0 times over. which is weaker than most peers shown here and 3 peers sit below 1x, which is the danger zone where profit does not fully cover the interest bill.
Healthy
Worse cushion
Baseline
Better cushion
XPL
BASELINE
Solitario Resources Corp.
Total debt $0.00 Interest coverage -17.32x This is the baseline the peer rows are being compared against.
Total debt $81.90K Interest coverage -67.65x Neither company has much profit cushion over interest right now.
Total debt $0.00 Interest coverage -16.22x Neither company has much profit cushion over interest right now.
Total debt $1.03M Interest coverage -3.80x Neither company has much profit cushion over interest right now.
Total debt $31.74M Interest coverage 13.81x This peer still has a real interest-payment cushion, while XPL does not.
What you should know
The case for and against XPL
0 Rewards
1 Risk
Rewards
Risks
-
Return on equity was -18.3% last year — the company lost money on shareholders' equity.
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
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Forward P/E
-9.06x
P/B
—
P/S
—
EV/EBITDA
-9.90x
PEG ratio
—
Profitability
How much profit each dollar creates
Gross margin
0.0%
Operating margin
0.0%
Net margin
0.0%
ROE
-18.3%
ROA
-12.2%
Health
Liquidity and balance-sheet strength
Debt / equity
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Current ratio
14.21x
Quick ratio
13.99x
Total debt
$0.00
Total cash
$9.09M
Growth
How the business has been compounding
Revenue TTM
$0.00
Revenue 5Y CAGR
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EPS TTM
-0.05
EPS 5Y CAGR
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Cash flow
How much cash the business throws off
Operating CF TTM
$-4.02M
Free CF TTM
$-3.60M
FCF margin
—
Dividend
Shareholder payout
Yield
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Payout ratio
0.0%
Last ex-div date
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