Solitario Resources Stock Price, News & Analysis

Solitario Resources Corp. (NYSE American: XPL, TSX: SLR) is a natural resource exploration and development company focused on high-quality Tier-1 gold, zinc and critical metals projects. According to company disclosures, Solitario concentrates on exploration-stage and advanced exploration-stage assets in North and South America, with an emphasis on gold and zinc, and additional exposure to molybdenum, rhenium, copper and silver.

Solitario describes itself as a natural resource exploration company with a portfolio that includes its 100%-owned Golden Crest gold properties in South Dakota, joint venture interests in the Lik zinc deposit in Alaska and the Florida Canyon zinc project in Peru, and early-stage critical metals projects in Colorado. The company’s common stock trades on the NYSE American under the symbol XPL and on the Toronto Stock Exchange under the symbol SLR.

Core Projects and Exploration Focus

Golden Crest Gold Project (South Dakota)
Solitario states that its 100%-owned Golden Crest properties in South Dakota are a central focus of its business. These properties are described as strategic land holdings along the western and southwestern extensions of the Homestake-Wharf mining district, an area reported to have produced approximately 52 million ounces of gold and to have a long history of high-grade, underground mineable gold deposits. The company notes that Golden Crest is located in a jurisdiction with developed infrastructure, a long record of continuous gold mining, and an experienced mining workforce.

Solitario reports that it has conducted drilling programs at Golden Crest, including a maiden drilling program followed by additional phases of drilling. Company news releases describe multiple drill holes, high-grade precious metal intercepts, and metallurgical test work. Bottle roll metallurgical testing on selected mineralized intervals from Golden Crest has been reported, with the company highlighting gold recoveries from oxidized material and drawing comparisons to mineralization styles in the broader Homestake-Wharf district. Golden Crest is also the subject of ongoing target generation, geophysical surveys and permitting activities for further drilling.

Lik Zinc Deposit (Alaska)
Solitario holds a 50% joint venture interest in the high-grade Lik zinc deposit in Alaska, with Teck Resources holding the remaining 50% interest. Company descriptions characterize Lik as a high-grade zinc deposit and an advanced exploration project. Solitario’s disclosures indicate that Lik represents a significant zinc-focused asset within its portfolio and that it is one of the company’s core projects alongside Golden Crest and Florida Canyon.

Florida Canyon Zinc Project (Peru)
Solitario also holds a 39% joint venture interest in the high-grade Florida Canyon zinc project in Peru, with Nexa Resources holding the remaining 61% interest. The company reports that Florida Canyon is an advanced exploration project and that it is carried to production on this project through its joint venture arrangement with Nexa. Company communications state that substantial exploration expenditures have been made on Florida Canyon and Lik collectively, and Solitario highlights Florida Canyon as a key zinc development asset in its portfolio.

Critical Metals Projects: Cat Creek and Bright Angel (Colorado)
In addition to its gold and zinc projects, Solitario has added critical metals exposure through projects in Colorado. The company reports that it has secured a lease to acquire a 100% interest in the Cat Creek project, described as a high-quality molybdenum-rhenium porphyry system. Solitario notes that Cat Creek is considered an undrilled molybdenum-rhenium target with historical surface exploration by a prior operator and that it has completed federal and state permitting to allow core drilling.

The company also references the Bright Angel project in Colorado as an early-stage critical metals target with gold and copper potential. Both Cat Creek and Bright Angel are described as part of Solitario’s growing portfolio of critical metals projects, with planned drilling programs identified in company news releases.

Business Model and Joint Venture Strategy

Solitario’s business model, as described in its public statements, centers on acquiring, exploring and advancing mineral projects, often through joint venture structures with larger mining companies. The company emphasizes its joint venture interests in large, high-grade zinc development projects and notes that it is carried to production on the Florida Canyon project through its arrangement with Nexa Resources. This approach allows Solitario to participate in advanced-stage projects while sharing technical and financial responsibilities with partners.

The company also reports that it maintains an additional portfolio of exploration properties and royalties in the Americas. Its disclosures highlight a focus on Tier-1 quality gold and zinc projects and, more recently, on critical metals such as molybdenum and rhenium.

Capital Markets and Ownership

Solitario’s common stock is listed on the NYSE American and the Toronto Stock Exchange. Company news releases state that management and directors collectively hold a meaningful percentage of the company’s outstanding shares, and that Newmont Corporation, through a subsidiary, holds a significant minority equity interest. An 8-K filing dated June 23, 2025, describes a stock purchase agreement with Newmont Overseas Exploration Ltd., under which Newmont increased its ownership stake in Solitario.

The same 8-K and related press releases describe a concurrent private placement with another institutional investor, and note that the proceeds are expected to be used to fund exploration activities at Golden Crest, Lik and Florida Canyon, as well as for general corporate purposes. Another 8-K filing dated June 20, 2025, reports that shareholders approved an increase in the number of authorized shares of common stock.

Geographic Focus

According to company disclosures, Solitario’s principal projects are located in the United States and Peru. Golden Crest is in South Dakota, the Lik zinc deposit is in Alaska, and the Florida Canyon zinc project is in Peru. The Cat Creek and Bright Angel critical metals projects are located in Colorado. The company notes that its Golden Crest properties are situated in a region with a long history of gold mining and established mining infrastructure.

Environmental, Social and Governance (ESG) Approach

Solitario states that it has a long history of committed Environmental, Social and Responsible Governance (ESG) practices. In multiple news releases, the company emphasizes that ESG issues are important to its investors, employees and stakeholders, including the communities in which it operates. Solitario reports that it is committed to conducting business in a manner that supports environmental and social initiatives and responsible corporate governance, and that it seeks to work with joint venture partners who share these ESG priorities.

Regulatory Filings and Corporate Governance

Solitario is incorporated in Colorado, as indicated in its SEC filings. The company files periodic and current reports with the U.S. Securities and Exchange Commission, including 8-K reports describing material events such as private placements, amendments to investor rights agreements, and the results of annual shareholder meetings. One 8-K details an amendment to the company’s Articles of Incorporation to increase the authorized number of common shares, while another describes an amended and restated investor rights agreement with Newmont relating to Solitario’s Golden Crest properties.

Company disclosures also describe shareholder votes on the election of directors, advisory votes on executive compensation, and the appointment of independent auditors. These filings provide insight into Solitario’s governance practices and capital structure decisions.

Project Portfolio Characteristics

Across its portfolio, Solitario highlights several common characteristics: focus on Tier-1 scale potential, emphasis on high-grade gold and zinc deposits, and exposure to critical metals such as molybdenum and rhenium. Golden Crest is described as having numerous surface gold anomalies and multiple high-priority drill targets, while Lik and Florida Canyon are characterized as high-grade zinc deposits at an advanced exploration stage. Cat Creek is presented as a large-scale molybdenum-rhenium porphyry target with historical geophysical and geochemical work and newly obtained drilling permits.

According to company news releases, Solitario continues to advance these projects through drilling, metallurgical testing, geophysical surveys, permitting, and technical evaluations with its joint venture partners. The company also participates in industry conferences and investor events to present updates on its exploration programs and project portfolio.

Risk Profile and Stage of Development

Solitario’s own descriptions indicate that it is primarily an exploration and development-stage company. Its projects are described as exploration or advanced exploration assets rather than operating mines. As such, the company’s outlook depends on the results of drilling, metallurgical testing, permitting, and potential future development decisions by Solitario and its partners. The company’s public communications include cautionary statements regarding forward-looking information, consistent with the exploration-stage nature of its business.

Summary

In summary, Solitario Resources Corp. is a Colorado-incorporated natural resource exploration and development company whose business centers on Tier-1 gold and zinc projects and emerging critical metals opportunities. Its primary assets include the 100%-owned Golden Crest gold project in South Dakota, joint venture interests in the Lik zinc deposit in Alaska and the Florida Canyon zinc project in Peru, and critical metals projects in Colorado. Through joint ventures, equity financings and ongoing exploration programs, Solitario seeks to advance these mineral assets while emphasizing ESG considerations and maintaining listings on both the NYSE American and the Toronto Stock Exchange.