0000917225-13-000019.txt : 20130509 0000917225-13-000019.hdr.sgml : 20130509 20130509165512 ACCESSION NUMBER: 0000917225-13-000019 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 11 CONFORMED PERIOD OF REPORT: 20130331 FILED AS OF DATE: 20130509 DATE AS OF CHANGE: 20130509 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SOLITARIO EXPLORATION & ROYALTY CORP. CENTRAL INDEX KEY: 0000917225 STANDARD INDUSTRIAL CLASSIFICATION: GOLD & SILVER ORES [1040] IRS NUMBER: 841285791 STATE OF INCORPORATION: CO FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-32978 FILM NUMBER: 13829674 BUSINESS ADDRESS: STREET 1: 4251 KIPLING STREET STREET 2: SUITE 390 CITY: WHEAT RIDGE STATE: CO ZIP: 80033 BUSINESS PHONE: 3035341030 MAIL ADDRESS: STREET 1: 4251 KIPLING STREET STREET 2: SUITE 390 CITY: WHEAT RIDGE STATE: CO ZIP: 80033 FORMER COMPANY: FORMER CONFORMED NAME: SOLITARIO RESOURCES CORP DATE OF NAME CHANGE: 20000711 10-Q 1 frm10q1.htm

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 31, 2013

[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission File Number. 001-39278

SOLITARIO EXPLORATION & ROYALTY CORP.

(Exact name of registrant as specified in its charter)

Colorado
(State or other jurisdiction of incorporation or organization)
4251 Kipling St. Suite 390, Wheat Ridge, CO
(Address of principal executive offices)
(303) 534-1030
(Registrant's telephone number, including area code)

84-1285791
(I.R.S. Employer Identification No.
80033
(Zip Code)

Indicate by checkmark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

YES S

NO £

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every

Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).

YES S

NO £

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer £

Accelerated filer £

Non-accelerated filer
(do not check if a smaller
reporting company) £

Smaller reporting company S

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

YES £

NO S

There were 34,647,458 shares of $0.01 par value common stock outstanding as of May 7, 2013.

TABLE OF CONTENTS

PART 1 - FINANCIAL INFORMATION			Page

Item 1 Financial Statements			3

Item 2 Management's Discussion and Analysis of Financial
Condition and Results of Operations			16

Item 3 Quantitative and Qualitative Disclosures About Market Risk			23

Item 4 Controls and Procedures			23

PART II - OTHER INFORMATION

Item 1 Legal Proceedings			23

Item 1A Risk Factors			23

Item 2 Unregistered Sales of Equity Securities and Use of Proceeds			23

Item 3 Defaults Upon Senior Securities			23

Item 4 Mine Safety Disclosures			23

Item 5 Other Information			24

Item 6 Exhibits			24

SIGNATURES			25

PART I - FINANCIAL INFORMATION

Item 1. Financial Statements

SOLITARIO EXPLORATION & ROYALTY CORP.

CONSOLIDATED BALANCE SHEETS

(in thousands of U.S. dollars,	March 31,	December 31,
except share and per share amounts)	2013	2012
	(unaudited)
Assets
Current assets:
Cash and cash equivalents	$ 4,396	$616
Investments in marketable equity securities, at fair value	2,538	3,110
Royalty sale receivable	-	4,000
Prepaid expenses and other	212	210
Total current assets	7,146	7,936

Mineral properties	9,832	9,327
Investments in marketable equity securities, at fair value	3,145	3,983
Equity method investment	852	1,165
Other assets	1,007	1,072
Total assets	$21,982	$23,483

Liabilities and Shareholders’ Equity
Current liabilities:
Accounts payable	$ 430	$398
Short-term margin loan	1,500	1,500
Current portion long-term debt	741	727
Deferred income taxes	256	963
Other	100	103
Total current liabilities	3,027	3,691

Long-term debt, net of discount	3,519	2,437
Deferred gain on sale of mineral property	7,000	7,000
Warrant liability	1,039	1,138

Commitments and contingencies
Equity:
Solitario shareholders’ equity:
Preferred stock, $0.01 par value, authorized 10,000,000 shares (none issued and outstanding at March 31, 2013 and December 31, 2012)	-	-
Common stock, $0.01 par value, authorized 100,000,000 shares (34,647,458 and 34,479,958, respectively, shares issued and outstanding at March 31, 2013 and December 31, 2012)	346	345
Additional paid-in capital	47,491	47,107
Accumulated deficit	(43,669)	(42,678)
Accumulated other comprehensive income	3,030	3,914
Total Solitario shareholders’ equity	7,198	8,688
Noncontrolling interest	199	529
Total shareholders’ equity	7,397	9,217
Total liabilities and shareholders’ equity	$21,982	$23,483

See Notes to Unaudited Condensed Consolidated Financial Statements

(table of contents)

SOLITARIO EXPLORATION & ROYALTY CORP.

CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)

(in thousands of U.S. dollars)	Three months ended March 31
	2013	2012
Costs, expenses and other:
Exploration expense	$ 362	$ 524
Depreciation and amortization	7	14
General and administrative	627	671
Gain on derivative instruments	(3)	(66)
Property abandonment and impairment	10	-
Interest expense	-	68
Interest and dividend income	(54)	(8)
Gain on sale of assets	-	(9)
Total costs, expenses and other	949	1,194
Other income (expense)
Gain on sale of marketable equity securities	-	332
Gain on warrant liability	99	-
Net loss of equity method investment	(313)	(109)
Total other income (expense)	(214)	223
Loss before income tax	(1,163)	(971)
Income tax benefit	169	109
Net loss	(994)	(862)
Less net loss attributable to noncontrolling interest	3	192
Net loss attributable to Solitario shareholders	$(991)	$(670)
Loss per common share attributable to Solitario shareholders:
Basic and diluted	$(0.03)	$(0.02)
Weighted average shares outstanding:
Basic and diluted	34,589	34,216

See Notes to Unaudited Condensed Consolidated Financial Statements

(table of contents)

SOLITARIO EXPLORATION & ROYALTY CORP.

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

(Unaudited)

(in thousands of U.S. dollars)	Three months ended March 31
	2013	2012
Loss	$ (994)	$ (862)
Unrealized loss on marketable equity securities, net of deferred taxes	(884)	(889)
Comprehensive loss	$(1,878)	$(1,751)

Comprehensive loss attributable to Solitario shareholders	$(1,875)	$(1,559)
Comprehensive loss attributable to noncontrolling interests	(3)	(192)
Comprehensive loss	$(1,878)	$(1,751)

See Notes to Unaudited Condensed Consolidated Financial Statements

(table of contents)

SOLITARIO EXPLORATION & ROYALTY CORP.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

(in thousands of U.S. dollars)	Three months ended March 31,
	2013	2012
Operating activities:
Net loss	$ (994)	$ (862)
Adjustments to reconcile net loss to net cash used in operating activities:
Unrealized gain on derivative instruments	(3)	(66)
Depreciation and amortization	7	14
Loss on equity method investment	313	109
Gain on warrant liability	(99)	-
Employee stock option expense	125	174
Deferred income tax benefit	(169)	(109)
Amortization of discount on long-term debt	-	53
Property abandonment and impairment	10	-
(Gain) on asset and equity security sales	-	(332)
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	(14)	239
Accounts payable and other current liabilities	33	(111)
Net cash used in operating activities	(791)	(891)
Investing activities:
Additions to mineral properties	(362)	(335)
Additions to other assets	-	(9)
Proceeds from mineral property sale receivable	4,000	-
Proceeds from sale of marketable equity securities	-	353
Net cash provided by investing activities	3,638	9
Financing activities:
Short-term borrowing (net)	-	787
Proceeds from exercise of options	183	-
Noncontrolling interest contribution, net	-	50
Proceeds from long-term debt	1,000	-
Payment to noncontrolling interest	(250)	(150)
Net cash provided by financing activities	933	687

Net increase (decrease) in cash and cash equivalents	3,780	(195)
Cash and cash equivalents, beginning of period	616	432
Cash and cash equivalents, end of period	$4,396	$237

Supplemental disclosure of cash flow information:
Cash paid for interest, capitalized to mineral property	$ 35	$ -

Supplemental disclosure of non-cash activities:
Capitalized non-cash interest	$ 145	$ -
Loan to noncontrolling interest	$ -	$ 49
Issuance of stock to noncontrolling interest	$ 77	$ 41
Transfer of contra-noncontrolling interest to noncontrolling interest upon earn-in	$ -	$ 531
Disproportionate share entry from noncontrolling interest to additional paid-in-capital upon earn-in	$ -	$2,983

See Notes to Unaudited Condensed Consolidated Financial Statements

(table of contents)

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

1. Business and Significant Accounting Policies

Business

Solitario Exploration & Royalty Corp. (“Solitario”) is a development stage company (but not a company in the “Development Stage”) under Industry Guide 7, as issued by the United States Securities and Exchange Commission, with a focus on developing the Mt. Hamilton project located in Nevada. In addition to its Mt. Hamilton project, Solitario acquires and holds a portfolio of precious and base metal exploration properties for future sale, joint venture or to create a royalty prior to the establishment of proven and probable reserves. Although Solitario intends to develop the Mt. Hamilton project, Solitario has never developed a mineral property. At March 31, 2013, Solitario's mineral properties are located in the United States, Mexico, Brazil and Peru.

The accompanying interim condensed consolidated financial statements of Solitario for the three months ended March 31, 2013 and 2012 are unaudited and are prepared in accordance with accounting principles generally accepted in the United States of America. They do not include all disclosures required by generally accepted accounting principles for annual financial statements, but in the opinion of management, include all adjustments, consisting only of normal recurring items, necessary for a fair presentation. Interim results are not necessarily indicative of results, which may be achieved in the future or for the full year ending December 31, 2013.

These financial statements should be read in conjunction with the financial statements and notes thereto which are included in Solitario’s Annual Report on Form 10-K for the year ended December 31, 2012. The accounting policies set forth in those annual financial statements are the same as the accounting policies utilized in the preparation of these financial statements, except as modified for appropriate interim financial statement presentation.

Investment in Kinross

Solitario has a significant investment in Kinross Gold Corporation (“Kinross”) at March 31, 2013, which consists of 670,000 shares of Kinross common stock. Solitario did not sell any of its shares of Kinross during the three months ended March 31, 2013. During the three months ended March 31, 2012 Solitario sold 30,000 shares of Kinross for net proceeds of $353,000 and recorded a gain on sale of $332,000. As of March 31, 2013 and December 31, 2012, Solitario has borrowed $1,500,000 in short-term margin loans against its holdings of Kinross shares. The short-term margin loans are discussed below under, “Short-term debt.” Subsequent to March 31, 2013 Solitario sold 10,000 shares of Kinross for proceeds of $54,000 and as of May 7, 2013 we own 660,000 shares of Kinross common stock which have a value of approximately $3.48 million based upon the market price of $5.28 per Kinross share. Solitario’s investment in Kinross common stock represents a significant concentration of assets, with the inherent risk that entails. Any significant fluctuation in the market value of Kinross common shares could have a material impact on our liquidity and capital resources.

Equity method investments

Solitario accounts for its investment in Pedra Branca do Mineracao, Ltd. (“PBM”) under the equity method as of July 21, 2010, when Anglo Platinum Limited (“Anglo”) earned a 51% interest in PBM. Solitario elected not to record its investment in PBM at fair value after July 21, 2010 and during the three months ended March 31, 2013 and 2012 recorded a reduction of $313,000 and $109,000, respectively, in its equity method investment for Solitario’s share of the loss of PBM during 2012 and 2011.

Employee stock compensation plans

(table of contents)

of the grant date fair value, and subsequently, based upon a straight line amortization of the unvested grant date fair value of each of its outstanding options. During the three months ended March 31, 2013 and 2012, Solitario recorded $125,000 and $174,000, respectively, of stock option expense for the amortization of grant date fair value with a credit to additional paid-in-capital.

On June 27, 2006 Solitario’s shareholders approved the 2006 Stock Option Incentive Plan (the “2006 Plan”). Under the terms of the 2006 Plan, the Board of Directors may grant up to 2,800,000 options to Directors, officers and employees with exercise prices equal to the market price of Solitario’s common stock at the date of grant.

There were no new options granted during the three months ended March 31, 2013 and 2012. During the three months ended March 31, 2013 options for 112,500 shares were exercised at a price of Cdn$1.55 per share for proceeds of $176,000 and 5,000 options were exercised at a price of Cdn$1.49 per share for proceeds of $7,000. No options were exercised during the three months ended March 31, 2012.

Earnings per share

The calculation of basic and diluted earnings and loss per share is based on the weighted average number of common shares outstanding during the three months ended March 31, 2013 and 2012. During the three months ended March 31, 2013 and 2012, Solitario excluded 2,480,900 and 2,433,400, respectively, potentially dilutive shares related to outstanding common stock options from the calculation because the effects were anti-dilutive. During the three months ended March 31, 2013, Solitario excluded an additional 1,624,748 shares related to warrants from the calculation because the effects were anti-dilutive.

Marketable equity securities

Solitario's investments in marketable equity securities are classified as available-for-sale and are carried at fair value, which is based upon quoted prices of the securities owned. The cost of marketable equity securities sold is determined by the specific identification method. Changes in market value are recorded in accumulated other comprehensive income within shareholders' equity, unless a decline in market value is considered other than temporary, in which case the decline is recognized as a loss in the consolidated statement of operations.

The following tables summarize Solitario’s marketable equity securities and accumulated other comprehensive income related to its marketable equity securities:

(in thousands)	March 31, 2013		December 31, 2012
Marketable equity securities at fair value	$	5,683	$	7,093
Cost		851		851
Accumulated other comprehensive income for unrealized holding gains		4,832		6,242
Deferred taxes on accumulated other comprehensive income for unrealized holding gains		1,802		2,328
Accumulated other comprehensive income	$	3,030	$	3,914

The following table represents changes in marketable equity securities.

(in thousands)	Three months ended March 31,
	2013		2012
Gross cash proceeds	$	—	$	353
Cost		—		21
Gross gain on sale included in earnings during the period		—		332
Deferred taxes on gross gain on sale included in earnings		—		(124	)

(table of contents)

Reclassification adjustment to unrealized gain in other comprehensive income for net gains included in earnings		—			(208	)
Gross unrealized holding loss arising during the period included in other comprehensive loss		(1,410	)		(1,086	)
Deferred taxes on unrealized holding loss included in other comprehensive loss		526			405
Net unrealized holding (loss) gain		(884	)		(681	)
Other comprehensive (loss) income from marketable equity securities	$	(884	)	$	(889	)

2. Mineral Property

The following table details Solitario’s investment in Mineral Property:

(in thousands)	March 31,		December 31,
	2013		2012
Development (United States)
Mt. Hamilton	$	9,790	$	9,275
Exploration
Pachuca (Mexico)		20		20
Norcan (Mexico)		6		6
Aconchi (Mexico)		5		5
Canta Colorado (Mexico)		3		3
Cerro Azul (Peru)		3		3
La Promesa (Peru)		5		5
Atico (Peru)		—		5
Jaripo (Mexico)		—		5
Total exploration		42		52
Total mineral property	$	9,832	$	9,327

Mt. Hamilton

On February 22, 2012, Solitario announced the completion of a feasibility study related to its Mt. Hamilton project (the “Feasibility Study”) prepared by SRK Consulting (US), Inc. of Lakewood, Colorado (“SRK”). As a result of the completion of the Feasibility Study, Solitario earned an 80% interest in MH-LLC, owner of the Mt. Hamilton project, and intends to develop the Mt. Hamilton project, subject to a number of factors including obtaining necessary permits and availability of required capital, none of which is currently in place.

Solitario began capitalizing its development costs incurred at its Mt. Hamilton project subsequent to the completion of the Feasibility Study. During the three months ended March 31, 2013, Solitario capitalized a total of $515,000 of development costs related to our Mt. Hamilton project including $327,000 related to development expenditures, $8,000 of depreciation and $180,000 of interest. During the three months ended March 31, 2012 Solitario capitalized $220,000 of development costs at the Mt. Hamilton project. All exploration costs on our other exploration properties, none of which have proven and probable reserves, including any additional costs incurred for subsequent lease payments or exploration activities related to our projects are expensed as incurred.

Discontinued projects

During the three months ended March 31, 2013, Solitario recorded $10,000 of mineral property write-downs related to its Atico and Jaripo projects in Mexico. Solitario did not record any mineral property write-downs during the three months ended March 31, 2012.

Exploration expense

The following items comprised exploration expense:

(table of contents)

(in thousands)	Three months ended March 31,
	2013		2012
Geologic and field expenses	$	246	$	237
Administrative		116		118
Mt. Hamilton exploration and development		—		169
Total exploration costs	$	362	$	524

3. Other assets

The following items comprised other assets:

(in thousands)	March 31,		December 31,
	2013		2012
Deferred offering costs RMB Loan	$	469	$	518
Accumulated Mt. Hamilton advance royalty payments		300		300
Furniture and Fixtures, net of accumulated depreciation		128		143
Exploration bonds and other assets		110		111
Total other assets	$	1,007	$	1,072

In connection with the RMB Loan, Solitario recorded deferred offering costs that are being amortized on a straight-line basis to interest cost over 36 months, the term of the Facility Agreement. See Note 5, “Long-term debt,” below.

4. Short-term debt

Solitario maintains a secured credit line agreement with UBS Bank, USA (“UBS Bank”). At March 31, 2013, the credit line is secured by all of Solitario’s assets held in its UBS brokerage account, consisting primarily of 460,000 Kinross shares. The UBS Bank credit line carries an interest rate which floats, based upon a base rate of 2.25% plus the one-month London Interbank Offered Rate ("LIBOR"), which is 0.20% as of March 31, 2013. The average interest rate was approximately 2.45% and 2.48%, respectively, for the three months ended March 31, 2013 and 2012. UBS Bank may change the base rate at any time. The UBS Bank credit line provides that Solitario may borrow up to $2 million and that Solitario maintain a minimum equity value percentage in its UBS brokerage account above 40%, based upon the value of its Kinross shares and any other assets held in Solitario's UBS brokerage account, less the value of its UBS Bank credit line and any other balances owed to UBS Bank. UBS Bank may modify the minimum equity value percentage of the loan at any time. In addition, if the equity value in Solitario's UBS brokerage account falls below the minimum equity value, UBS Bank may sell enough Kinross shares held in Solitario's UBS brokerage account or liquidate any other assets to restore the minimum equity value. At March 31, 2013, the equity value in Solitario's UBS brokerage account was 59%. At May 7, 2013, the balance outstanding in the UBS Bank credit line was $1,200,000, and the equity value in Solitario’s UBS brokerage account was 51%.

Solitario also maintains a short-term margin account with RBC Capital Markets, LLC ("RBC"). At December 31, 2012, the credit line is secured by all of Solitario’s assets held in its RBC brokerage account, consisting primarily of 210,000 of Solitario’s Kinross shares. Solitario has utilized short-term margin loans from RBC, using Solitario's investment in Kinross held at RBC as collateral for the short-term margin loans. Solitario did not borrow against its short-term margin account during the three months ended March 31, 2013. The margin account calls for interest at a margin loan rate of 4.25% per annum, which floats based upon the London Interbank Offered Rate. The margin loan rate can be modified by RBC at any time. The margin loans are callable by RBC at any time. Per the terms of the margin loans, Solitario is required to maintain a minimum equity value in the account of 35%, based upon the value of its Kinross shares and any other assets held at RBC, less any short-term margin loan balance and any other balances owed to RBC. The equity value percentage may be modified by RBC at any time. If the equity value in Solitario's account at RBC falls below the minimum, RBC may call the loan, or may sell enough Kinross shares held in Solitario's brokerage account or liquidate any other assets to restore the minimum

(table of contents)

equity value. At March 31, 2013, Solitario had no outstanding borrowing on the RBC margin account and the equity balance in Solitario's account at RBC was 100%.

The following tables summarize Solitario’s short-term debt:


(in thousands)
UBS short-term credit line
Beginning balance December 31, 2012	$	1,500
Borrowing		900
Repayments		(900	)
Ending balance March 31, 2013	$	1,500

(in thousands)	Three months ended March 31,
	2013		2012
Interest UBS short-term credit line	$	8	$	13
Interest RBC short-term margin loan		—		4
Total interest, short-term margin loans	$	8	$	17

During the three months ended March 31, 2013, Solitario capitalized all of its interest to mineral property. See Note 2, “Mineral property,” above.

5. Long-term debt

Augusta debt

The following is the schedule of debt payments due Augusta Resources Corporation ("Augusta") as of March 31, 2013 and December 31, 2012:

(in thousands) Payment date	March 31, 2013			December31, 2012
June 1, 2013		750			750
June 1, 2014		750			750
June 1, 2015		1,000			1,000
Unamortized discount		(221	)		(264	)
Total		2,279			2,236
Current portion		741			727
Long-term debt	$	1,538		$	1,509

During the three months ended March 31, 2013 and 2012, Solitario recorded $42,000 and $53,000, respectively, of interest for accretion of the debt discount related to MH-LLC long-term debt due to Augusta. During the three months ended March 31, 2013, Solitario capitalized all of its interest to mineral property. See Note 2, “Mineral property,” above. On April 22, 2013, Solitario and Ely Gold and Minerals, Inc. (“Ely”) agreed to modify the terms of their agreement with regard to the payment due to Augusta on June 1, 2013. See Note 11, “Subsequent events,” below.

RMB Facility Agreement

(table of contents)

connection with the Facility Agreement, Solitario recorded a warrant discount related to the RMB warrants issued at the time Solitario entered into the Facility Agreement. The warrant discount is being amortized on a straight-line basis to interest cost over 36 months, the term of the Facility Agreement. The RMB Loan amounts bear interest at the 90-day LIBOR rate plus 5%, payable in arrears on the last day of each quarterly interest period. The RMB Loan interest rate was 5.28% at March 31, 2013. The RMB Loan may be repaid at any time without penalty. Any amounts repaid may not be redrawn under the Facility Agreement. The RMB Loan is secured by a lien on Solitario’s 80% interest in MH-LLC as well as a general security interest in Solitario’s remaining assets.

The following table summarizes the RMB Loan:

	RMB		RMB			RMB
(in thousands)	Loan borrowing		Warrant discount			Long-term Debt
Beginning balance December 31, 2012	$	1,500	$	(573	)	$	927
Borrowing		1,000					1,000
Amortization of discount to interest cost		—		54			54
Ending balance March 31, 2013	$	2,500	$	(519	)		1,981

Solitario recorded the following interest cost related to the RMB Loan:

(in thousands)	Three months ended March 31,
	2013
Interest paid in cash	$	27
Amortization of the RMB Warrants discount		54
Amortization of RMB deferred financing costs		49
Total interest expense related to the RMB Loan	$	130

During the three months ended March 31, 2013, Solitario capitalized all of its interest to mineral property. See Note 2, “Mineral property,” above.

6. Derivative instruments

RMB Warrants

In August 2012, pursuant to the Facility Agreement, the Company issued 1,624,748 warrants to RMBAH as partial consideration for financing services provided in connection with the Facility Agreement. Each RMB Warrant entitles the holder to purchase one of Solitario common stock pursuant to the terms and conditions of the RMB Warrants. The RMB Warrants expire 36 months from their date of issuance and have an exercise price of $1.5387 per Warrant Share, subject to customary anti-dilution adjustments. Solitario has recorded a liability as of March 31, 2013 and December 31, 2012 of $1,039,000 and $1,138,000, respectively, for the fair value of the RMB Warrants based upon a Black-Scholes model. Solitario adjusts the fair value of the warrants at each balance sheet date, with changes in value recorded in other income (loss) in the statement of operations. Solitario recorded a gain on the RMB Warrants of $99,000 during the three months ended March 31, 2013 based upon a Black-Scholes model as of March 31, 2013 using a 29 month-life, a volatility of 65% a stock price of $1.60 per share and a risk free interest rate of 0.29%.

Ely Warrants

In connection with the equity investment in Ely during 2010, Solitario acquired warrants to purchase 1,666,666 shares of Ely common stock at Cdn$0.25 per share for a period of two years. The warrants expired unexercised during 2012. Solitario recorded an unrealized gain on derivative instrument of $66,000 in the statement of operations for a net gain related to the Ely warrants for the three months ended March 31, 2012.

(table of contents)

Covered Call Options

From time to time Solitario has sold covered call options against its holdings of Kinross. The business purpose of selling covered calls is to provide additional income on a limited portion of shares of Kinross that Solitario may sell in the near term, which is generally defined as less than one year. At December 31, 2012 Solitario had sold options covering 50,000 shares of Kinross, recorded as a $3,000 current liability, which expired unexercised in February 2013. Solitario recorded a gain of $3,000 on these covered call options during the three months ended March 31, 2013. As of March 31, 2013 Solitario has no outstanding covered call options. Solitario has not designated its covered calls as hedging instruments as described in ASC 815 and any changes in the fair value of its covered calls are recognized in the statement of operations in the period of the change.

7. Fair value

For certain of Solitario’s financial instruments, including cash and cash equivalents, payables and short-term debt, the carrying amounts approximate fair value due to their short term maturities. Solitario’s marketable equity securities are carried at their estimated fair value primarily based on quoted market prices. The long-term debt associated with MH-LLC is carried at its estimated fair value based upon the discounted present value of the payments using an estimated discount rate and RMB warrants are carried at their estimated fair value based on a Black-Scholes option pricing model.

Solitario accounts for its financial instruments under ASC 820, "Fair Value Measurements." ASC 820 establishes a framework for measuring fair value and requires enhanced disclosures about fair value measurements. ASC 820 clarifies that fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. ASC 820 also requires disclosure about how fair value is determined for assets and liabilities and establishes a hierarchy for which these assets and liabilities must be grouped, based on significant levels of inputs as follows:

Level 1: quoted prices in active markets for identical assets or liabilities;

Level 2: quoted prices in active markets for similar assets and liabilities and inputs that are observable for the asset or liability; or

Level 3: Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions.

The determination of where assets and liabilities fall within this hierarchy is based upon the lowest level of input that is significant to the fair value measurement. During the three months ended March 31, 2013 and 2012 there were no reclassifications in financial assets or liabilities between Level 1, 2 or 3 categories.

The following is a listing of Solitario’s financial assets and liabilities required to be measured at fair value on a recurring basis and where they are classified within the hierarchy as of March 31, 2013:

(in thousands)	Level 1		Level 2		Level 3		Total
Assets
Marketable equity securities	$	5,683	$	—	$	—	$	5,683
Liabilities
RMB warrants		—		1,039		—		1,039

(in thousands)	Level 1		Level 2		Level 3		Total
Assets
Marketable equity securities	$	7,093	$	—	$	—	$	7,093
Liabilities
RMB warrants		—		1,138		—		1,138

(table of contents)

8. Income Taxes

Solitario accounts for income taxes in accordance with ASC 740, “Accounting for Income Taxes.” Under ASC 740, income taxes are provided for the tax effects of transactions reported in the financial statements and consist of taxes currently due plus deferred taxes related to certain income and expenses recognized in different periods for financial and income tax reporting purposes. Deferred tax assets and liabilities represent the future tax return consequences of those differences, which will either be taxable or deductible when the assets and liabilities are recovered or settled. Deferred taxes are also recognized for operating losses and tax credits that are available to offset future taxable income and income taxes, respectively. A valuation allowance is provided if it is more likely than not that some portion or all of the deferred tax assets will not be realized.

Primarily as a result of the built-in-gain in the value of Solitario's holdings of Kinross common stock recognized as other comprehensive income, Solitario estimated that its deferred tax liabilities exceeded its realizable deferred tax assets by $256,000 and $963,000 at March 31, 2013 and December 31, 2012.

During the first quarter of 2013, Solitario recorded a $169,000 deferred tax benefit in the statement of operations and recorded a deferred tax benefit of $526,000 to other comprehensive income related to net unrealized losses of $1,410,000 on marketable equity securities. During the first quarter of 2012, Solitario recorded a $109,000 deferred tax benefit in the statement of operations and recorded a deferred tax benefit of $529,000 to other comprehensive income related to net unrealized losses of $1,418,000 on marketable equity securities.

9. Shareholders’ Equity, comprehensive loss and noncontrolling interest

(in thousands, except					Accumulated	Total
Share amounts)	Common	Common	Additional		Other	Solitario	Non-	Total
	Stock	Stock	Paid-in	Accumulated	Comprehensive	Shareholder	Controlling	Shareholders’
	Shares	Amount	Capital	Deficit	Income	Equity	Interest	Equity
Balance at December 31, 2012	34,479,958	$345	$47,107	$(42,678)	$3,914	$8,688	$529	$9,217

Exercise of stock options for cash	117,500	1	182			183		183
Issuance of shares to noncontrolling shareholder for future earn-in	50,000	-	77	-	-	77	(77)	-
Issuance of cash to noncontrolling shareholder for future earn-in	-	-	-	-	-	-	(250)	(250)
Stock option expense	-	-	125	-	-	125	-	125
Net loss	-	-	-	(991)	-	(991)	(3)	(994)
Net unrealized loss on marketable equity securities	-	-	-	-	(884)	(884)	-	(884)
Balance at March 31, 2013	34,647,458	$346	$47,491	$(43,669)	$3,030	$7,198	$199	$7,397

During the three months ended March 31, 2013, Solitario paid DHI Minerals (US), Ltd. (“DHI”) $250,000 in cash and delivered 50,000 shares of Solitario common stock to DHI, in accordance with the terms of the letter of intent between Solitario, DHI and Ely Gold and Minerals Inc. See Note 10, “Ely Gold investment and the Mt. Hamilton joint venture” to the consolidated financial statements included in Solitario’s Annual Report on Form 10-K for the year ended December 31, 2012.

10. Segment Reporting

Solitario operates in two segments, (i) mineral exploration and (ii) mining development and operations. Solitario is capitalizing Mt. Hamilton development and operations costs subsequent to February 22, 2012, as detailed above in Note 2, “Mineral properties.” The following summarizes Solitario segment activity for the three months ended March 31, 2013 and 2012:

(table of contents)

(in thousands)	Three months ended March 31, 2013
		Mt Hamilton		Exploration		Corporate and Other		Consolidated
Exploration expense	$	—	$	362	$	—	$	362
Interest expense (2)		—		—		—		—
Other (1)		7		351		443		801
Pre-tax loss	$	7	$	713	$	443	$	1,163
Total assets (3)(4)	$	14,236	$	1,395	$	6,351	$	21,982
Capital Expenditures (2)	$	515	$	—	$	—	$	515

(1)

Exploration expense other includes loss on unconsolidated subsidiary of $313

(2)

Interest cost of $180 and depreciation of $8 have been capitalized to Mt. Hamilton mineral properties.

(3)

Exploration total assets include investment in unconsolidated subsidiary of $852.

(4)

Corporate and other total assets include investment in marketable equity securities of $5,683.

(in thousands)	Three months ended March 31, 2012
		Mt Hamilton		Exploration		Corporate and Other		Consolidated
Exploration expense	$	169	$	355	$	—	$	524
Interest expense		53		—		15		68
Other (1)(3)		12		312		55		379
Pre-tax loss	$	234	$	667	$	70	$	971
Total assets (2)(4)	$	9,277	$	1,895	$	9,295	$	20,467
Capital Expenditures	$	355	$	—	$	9	$	364

(1)

Exploration expense other includes loss on unconsolidated subsidiary of $109

(2)

Exploration total assets include investment in unconsolidated subsidiary of $1,544.

(3)

Corporate and other includes gain on sale of marketable equity securities of $332

(4)

Corporate and other total assets include investment in marketable equity securities of $8,921

11. Subsequent events

On April 22, 2013, Solitario entered into an agreement, (the “Letter Agreement”) between Solitario, Ely and DHI. The Letter Agreement modified certain terms and conditions of the letter of intent dated August 26, 2010 between Solitario, Ely and DHI, as amended, in the MH-LLC OA Side Agreement between Solitario Ely, DHI, RMBAH and RMBR dated August 21, 2012 (both agreements collectively the “LOI, as amended”). Under the Letter Agreement, Ely exercised its right to reduce Solitario’s required subscription of $750,000 due on May 1, 2013 to $500,000, proceeds of which Ely is required to use to pay a portion of the $750,000 payment due on June 1, 2013 due to Augusta. See Note 5, “Long-term debt” above. Ely agreed to pay the remaining $250,000 of the payment due to Augusta from their funds. Concurrent with the Letter Agreement, Solitario delivered a subscription agreement, (the “Subscription Agreement”) to Ely for the subscription of 5,131,150 shares of Ely common stock at a price of Cdn$0.10 as of April 22, 2013. Solitario paid Ely $500,000 in cash and received the 5,131,150 shares of Ely common stock after Ely’s acceptance of the Subscription Agreement. The delivery and acceptance of the Subscription Agreement, and payment of the subscription price of $500,000, satisfied Solitario’s obligations with respect to the June 1, 2013 payment due Augusta.

On April 24, 2013, Solitario borrowed an additional $1,000,000 on the RMB Loan and as of May xx, 2013, owes $3,500,000 on the RMB Loan.

(table of contents)

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

The following discussion should be read in conjunction with the information contained in the consolidated financial statements of Solitario for the years ended December 31, 2012 and 2011, and Management’s Discussion and Analysis of Financial Condition and Results of Operations contained in Solitario’s Annual Report on Form 10-K for the year ended December 31, 2012. Solitario's financial condition and results of operations are not necessarily indicative of what may be expected in future periods. Unless otherwise indicated, all references to dollars are to U.S. dollars.

(a) Business Overview and Summary

We are a development stage company (prior to the completion of the Feasibility Study on February 22, 2012 we were an exploration stage company) with a focus on the acquisition of precious and base metal properties with exploration potential and the development or purchase of royalty interests. We have an 80% interest in the Mt. Hamilton project and intend to develop the Mt. Hamilton project, subject to a number of factors including obtaining necessary permits and availability of required capital, none of which is currently in place. The Mt. Hamilton project is discussed below under “Ely Gold Investment and the Mt. Hamilton Joint Venture.” In addition, we acquire and hold a portfolio of exploration properties for future sale, joint venture or to create a royalty prior to the establishment of proven and probable reserves. Although our mineral properties may be developed in the future by us or through a joint venture, and we currently intend to develop the Mt. Hamilton project, we have never developed a mineral property. We may also evaluate mineral properties to potentially buy a royalty.

(b) Recent Developments

RMB Loan and Kinross common stock

During the three months ended March 31, 2013, we borrowed an additional $1,000,000 on our RMB Loan and owe $2,500,000 as of March 31, 2013. See Note 5, “Long-term debt” for additional discussion of the RMB Loan. In addition, as of May 7, 2013, the price of Kinross common stock has fallen to $5.28, which is below our assumed price for 2013 for budgeting purposes of $10 per share. As a result of the reduction of the price of a share of Kinross common stock we have taken steps to significantly reduce our exploration expenditures in Mexico and Peru and to reduce certain administrative expenditures. We have adequate working capital and cash to meet our planned 2013 expenditures and have no plan to reduce our planned 2013 permitting and development expenditures at our Mt. Hamilton project. See “Liquidity and Capital Resources,” below for an additional discussion of our capital resources.

Comparison of the quarter ended March 31, 2013 to the quarter ended March 31, 2012

We had a net loss attributable to Solitario shareholders of $991,000, or $0.03 per basic and diluted share for the three months ended March 31, 2013 compared to a net loss attributable to Solitario shareholders of $670,000 or $0.02 per basic and diluted share for the three months ended March 31, 2012. As explained in more detail below, the primary reason for the increase in the loss in the first three months of 2013 compared to the loss in the first three months of 2012 was (i) a reduction in the gain on sale on marketable equity securities from $332,000 during the three months ended March 31, 2012 to no gain as we did not sell any of our Kinross stock in the three months ended March 31, 2013; (ii) an increase in the net loss of equity method investment of $313,000 during the three months ended March 31, 2013 compared a net loss of equity method investment of $109,000 during the same period in 2012 and (iii) a reduction in the net loss attributable to noncontrolling interest to $3,000 during the three months ended March 31, 2013 from $192,000 in the same period of 2012. These were partially offset by a reduction in exploration expense to $362,000 during the three months ended March 31, 2013 compared to exploration expense of $524,000 during the same period of 2012 and the gain on warrant liability recognized during the three months ended March 31, 2013 when there was no similar item during the three months ended March 31, 2012. Each of these items is discussed in more detail below.

(table of contents)

Our net exploration expense decreased to $362,000 during the first quarter of 2013 compared to exploration expense of $524,000 during the first quarter of 2012. During the three months ended March 31, 2013 we capitalized $327,000 of development costs at our Mt. Hamilton project, which significantly reduced costs charged to exploration expense. In addition we capitalized $8,000 of depreciation to Mt. Hamilton during the three months ended March 31, 2013. During the first three months of 2012 we incurred $389,000 for exploration and development at our Mt. Hamilton project, of which we capitalized $220,000 of these costs. We anticipate continuing to capitalize development costs at our Mt. Hamilton project including permitting-related costs. The remaining spending at our Brazil, Peru and Mexican exploration projects were comparable as we recorded exploration expense of $362,000 for these costs during the three months ended March 31, 2013 compared to $355,000 during the first three months of 2012. Our non-Mt. Hamilton activities were primarily related to reconnaissance exploration during the first three months of both 2013 and 2012. We anticipate our future exploration activities will be reduced during the remainder of 2013 compared to 2012 as a result of reduced activity in both Mexico and Peru. However, we anticipate continuing to acquire mineral properties, on a limited basis, either through staking, joint venture or lease, in Latin America during 2013. Our 2013 budget for the Mt. Hamilton project is approximately $2,043,000 in expenditures, all of which we anticipate we will capitalize. We also have budgeted approximately $1,675,000 for leasehold acquisition and earn-in payments for Mt. Hamilton during 2013, which will also be capitalized.

Exploration expense (in thousands) by project for the three months ended March 31, 2013 and 2012 consisted of the following:

	March 31,		March 31,
Project Name	2013		2012
Mt. Hamilton, net of $327 and $220 capitalized development costs	$	—	$	169
Pachuca		6		7
Pedra Branca, net		—		(10	)
Espanola		—		11
Jaripo		—		12
Mercurio		—		3
Norcan		—		2
Triunfo		—		1
Reconnaissance		356		329
Total exploration expense	$	362	$	524

As a result of controlling MH-LLC, we consolidate MH-LLC in our financial statements, however because DHI currently owns a 20% interest in MH-LLC we recorded a noncontrolling interest credit of $3,000 for DHI’s share of the losses at MH-LLC during the three months ended March 31, 2013. During the three months ended March 31, 2012, we recorded a noncontrolling interest credit of $192,000 for DHI’s share of the losses at MH-LLC during that period. However, because we capitalize our costs related to the Mt. Hamilton project, the losses at MH-LLC have been reduced to a minimal amount of certain administrative, non-development costs with a concurrent reduction in the noncontrolling interest credit. We do not anticipate recording any significant credits for losses attributable to noncontrolling interest for the remainder of 2013. Also see Note 9, “Shareholders’ Equity, comprehensive loss and noncontrolling interest” and Note 2, “Mineral Property,” to the unaudited condensed consolidated financial statements.

General and administrative costs, excluding stock option compensation costs discussed below, were $502,000 during the first three months of 2013 compared to $497,000 in the first three months of 2012. The major components of these costs were related to (i) salaries and benefit expense during the first three months of 2013 of $248,000 compared to salaries and benefit expense of $283,000 in the same period of 2012; (ii) legal and accounting expenditures of $68,000 in the first three months of 2013 compared to $60,000 in the same period of 2012; and (iii) travel and shareholder relation costs of $143,000 during the first three months of 2013 compared to $117,000 in the same period of 2012, which increased as a result of additional efforts during 2013 to inform the investment community of our recent accomplishments at the Mt. Hamilton project. Solitario recorded stock option expense for the amortization of unvested grant date fair value with a credit to additional paid-in-capital of $125,000 during the three months ended March 31, 2013 compared to $174,000 for the same period of 2012, which decreased as a result of options previously granted becoming fully vested during the quarter ended March 31, 2013. We anticipate our full year general and administrative costs will be less during 2013 compared to 2012 primarily as a result of reductions in activities in our Latin American exploration and the capitalization of certain salary costs to Mt. Hamilton for the full year of 2013.

(table of contents)

During the three months ended March 31, 2013 we did not sell any shares of Kinross. During the three months ended March 31, 2012 we sold 30,000 shares of Kinross for net proceeds of $353,000 and recorded a gain on sale of $332,000. We have estimated we will sell approximately 320,000 shares of Kinross over the next year, which are recorded as a current asset of $2,538,000 at March 31, 2013. See also "Liquidity and Capital Resources," below.

As a result of the classification of our RMB Warrants as a liability in accordance with ASC 815-40, “Derivatives and Hedging, Contracts in Entity’s Own Equity,” we adjust the fair value of the warrants at each balance sheet date, with changes in value recorded in other income/expense in the statement of operations. Solitario recorded a gain on the RMB Warrants of $99,000 for the three months ended March 31, 2013, based upon a Black-Scholes model. The value of the RMB Warrants is influenced by fluctuations in the price of a share of our common stock, among other things that are beyond our control and may fluctuate significantly in the future. There was no similar item during the same period of 2012.

We regularly perform evaluations of our mineral property assets to assess the recoverability of our investments in these assets. All long-lived assets are reviewed for impairment whenever events or circumstances change which indicate the carrying amount of an asset may not be recoverable utilizing guidelines based upon future net cash flows from the asset as well as our estimates of the geological potential of early stage mineral property and its related value for future sale, joint venture or development by us or others. During the three months ended March 31, 2013 we recorded $10,000 of mineral property write downs related to our Jaripo and Atico properties in Mexico. During the three months ended March 31, 2012, we recorded no property impairments.

We recorded a deferred tax benefit of $169,000 during the first three months of 2013 compared to a deferred tax benefit of $109,000 during the first three months of 2012. The increased deferred tax benefit is primarily related an increase in taxable loss during the three months ended March 31, 2013 because we did not sell any Kinross compared to the same period of 2012 when we recorded a gain on sale of Kinross of marketable equity securities of $332,000 from the sale of 30,000 shares of Kinross. In addition we had an increase in interest costs which are deductible for United States income tax purposes during the three months ended March 31, 2013 compared to the same period of 2012. These reductions in taxable gain on sale and increases in deductible expenditures were partially offset by a reduction in deductible exploration and development costs related to Mt. Hamilton which decreased to $327,000 during the three months ended March 31, 2013 compared to costs of $389,000 during the three months ended March 31, 2012. As a result of utilizing short-term debt financing and the ability to reduce taxable income from the proceeds of sales of Kinross common stock with a portion of development costs at Mt. Hamilton and United States general and administrative costs, we anticipate we will not have currently payable income taxes during 2013. We provide a valuation allowance for our foreign net operating losses, which are primarily related to our exploration activities in Peru, Mexico and Brazil. We anticipate we will continue to provide a valuation allowance for these net operating losses until we are in a net tax liability position with regards to those countries where we operate or until it is more likely than not that we will be able to realize those net operating losses in the future.

(d) Liquidity and Capital Resources

Short-term debt

See a summary of our short-term debt in Note 4, “Short-term debt” to the unaudited condensed consolidated financial statements.

We have used our short-term debt as an alternative source of capital to selling our Kinross stock. We anticipate we will borrow money using short-term margin loans as necessary, using our Kinross common stock as collateral to defer potential current United States income taxes if we were to sell our Kinross common stock in excess of our anticipated United States tax deductible expenses for the entire year of 2013. Our United States tax deductible expenses consist primarily of United States general and administrative costs and a portion of our costs to develop the Mt. Hamilton project in Nevada. As of March 31, 2013 we anticipate the taxable portion of gain from the sale of Kinross common stock sold during 2013 will not exceed our anticipated United States tax deductible expenses, and our available net operating loss carry forwards for 2013, and accordingly, we do not anticipate having any currently payable United States income taxes for 2013.

(table of contents)

As of March 31, 2013, we have borrowed $1,500,000 from UBS Bank, USA ("UBS Bank") pursuant to a secured credit line agreement between us and UBS Bank. The UBS Bank credit line carries an interest rate which floats, based upon a base rate of 2.25% plus the one-month London Interbank Offered Rate ("LIBOR"), which is 0.20% as of March 31, 2013. At March 31, 2012 we had borrowed $2,000,000 from UBS. We recorded $8,000 in capitalized interest cost related to the UBS credit line for the three months ended March 31, 2013 compared to $13,000 recorded as interest expense for the three months ended March 31, 2012.

As of March 31, 2013, and during the three months ended March 31, 2013 we did not utilize our margin loan at RBC Capital Markets, LLC ("RBC"). At March 31, 2012 we had $792,000 in short-term margin loans at RBC, using Solitario's investment in Kinross held at RBC as collateral for the short-term margin loans. During the three months ended March 31, 2012, the loans carried interest at a margin loan rate of 4.25% per annum, which floats based upon the London Interbank Offered Rate. We recorded $4,000 of interest expense related to the short term-margin loans for the three months ended March 31, 2012.

Our use of short-term borrowing is not considered critical to our liquidity, capital resources or credit risk strategies. We consider the use of short-term borrowing as a component of our overall strategy to potentially maximize our after-tax returns on the sale of our investment in Kinross stock. As discussed above and under “Risk Factors” in Item 1A of Part I of our Annual Report on Form 10-K, any significant decline in the market value of Kinross common shares could have a material impact on our liquidity and capital resources. As of May 7, 2013, the price of Kinross common stock has fallen to $5.28. In response to this price decline, as of May 7, 2013, we reduced our short-term margin loan with UBS Bank to $1,200,000 and as of May 7, 2013 have an equity balance in our UBS Bank brokerage account of 51%. In addition, we have taken steps to reduce our exploration expenditures in Mexico and Peru and to reduce certain administrative expenditures. If the price of Kinross stock declines further, we may be required to sell additional shares of Kinross, to further reduce our existing short-term margin borrowing, to further reduce our planned expenditures and/or obtain additional debt financing or issue equity to fund our operations. See a discussion of our planned 2013 expenditures below under “Investment in Marketable Equity Securities.” Our maximum amount of short-term borrowing was $1,900,000, including accrued interest, during the three months ended March 31, 2013. Our average short-term borrowing during the three months ended March 31, 2013 was $1,509,000.

We anticipate our existing cash balance, any additional proceeds from short-term borrowing, proceeds from the sale of Kinross and any additional proceeds from the RMB Loan, discussed above, will provide adequate funds for our operations for the next year.

Long-term debt

See a summary of our long-term debt in Note 5 “Long-term debt” to the unaudited condensed consolidated financial statements.

Augusta debt

As of March 31, 2013, we are obligated to make the remaining payments to Augusta totaling $2,500,000, including $750,000 during 2013, which are to be in the form of private placement investments in Ely common stock. However on April 22, 2013 we entered into an amendment of our agreement with Ely, whereby Ely exercised its right to reduce our subscription for their common stock to $500,000 and we acquired 5,131,150 shares of Ely common stock at a price of Cdn$0.10 per share. This subscription met our requirement to pay the 2013 $750,000 Augusta payment. See Note 11, “Subsequent events” to the unaudited condensed consolidated financial statements. During the three months ended March 31, 2013 and 2012 we accrued $42,000 and $53,000 of interest cost related to the Augusta debt. As of May 7, 2013, we have a commitment to pay the remaining $1,750,000 Augusta debt in the form of private placements in Ely common stock , with $750,000 to be subscribed on or before May 1, 2014 and $1,000,000 required to be subscribed on or before May 1, 2015. However, Ely has the right to self-fund all, or a portion of, the Augusta debt payments, which would reduce or eliminate our requirement to subscribe to these Ely private placements.

RMB Facility Agreement

During the three months ended March 31, 2013 we borrowed an additional $1,000,000 on the RMB Facility Agreement and as of March 31, 2013 we owe $2,500,000 on the RMB Loan. During the three months ended March 31, 2013 we paid $27,000 in cash for interest on the RMB Loan. During the three months ended March 31, 2013 we incurred $50,000 in interest cost for the amortization of deferred offering costs related to the RMB Loan and we incurred $54,000 of interest

(table of contents)

cost related to the warrant discount associated with the RMB warrants issued in connection with the Facility Agreement. On April 24, 2013, we borrowed an additional $1,000,000 on the RMB Loan and as of May 7, 2013 we have $1,500,000 of available borrowing under the Facility Agreement. The use of these proceeds are limited to development expenditures at Mt. Hamilton, earn-in payments for MH-LLC and approved budgeted general corporate purposes as further described in Note 5, “Long-term debt” to our unaudited condensed consolidated financial statements.

RMB warrants

Pursuant to the Facility Agreement, we issued 1,624,748 RMB Warrants to RMBAH as partial consideration for financing services provided in connection with the Facility Agreement. Each RMB Warrant entitles the holder to purchase one share of Solitario common stock pursuant to the terms and conditions of the RMB Warrants. As of March 31, 2013 the RMB Warrants have an estimated fair value of approximately $1,039,000 and we recorded a gain of $99,000 on the fair value of the RMB Warrants during the three months ended March 31, 2013; however we do not expect RMBAH to exercise any of these warrants during the next year.

Investment in Marketable Equity Securities

Our marketable equity securities are classified as available-for-sale and are carried at fair value, which is based upon market quotes of the underlying securities. We owned 670,000 shares of Kinross common stock at both March 31, 2013 and December 31, 2012. The Kinross shares are recorded at their fair value of $5,313,000 and $6,512,000 at March 31, 2013 and December 31, 2012, respectively. We did not sell any Kinross shares during the three months ended March 31, 2013. During the three months ended March 31, 2011, we sold we sold 30,000 shares of Kinross stock for proceeds of $353,000 resulting in a gain of $332,000. Subsequent to March 31, 2013 we sold 10,000 shares of Kinross for proceeds of $54,000 and as of May 7, 2013 we own 660,000 shares of Kinross. As of May 7, 2013, the price of Kinross common stock has fallen to $5.28, which is below our assumed price for 2013 for budgeting purposes of $10 per share. Accordingly, subsequent to March 31, 2013, we reduced our short-term margin loan with UBS Bank to $1,200,000 and as of May 7, 2013 have an equity balance in our UBS Bank brokerage account of 51%. In addition, we have taken steps to reduce our exploration expenditures in Mexico and Peru and to reduce certain administrative expenditures. Any change in the market value of the shares of Kinross common stock could have a material impact on our liquidity and capital resources. The price of shares of Kinross common stock has varied from a high of $9.87 per share to a low of $7.46 per share during the three months ended March 31, 2013.

We have budgeted the anticipated sale of 360,000 shares of Kinross stock during 2013 for assumed proceeds of $3,600,000. However, as a result of the recent reduction of the price of a share of Kinross common stock after March 31, 2013 we may either sell more shares of Kinross during 2013 than originally planned, sell some or all of our investments in other marketable equity securities, including Ely, or raise additional debt or equity or a combination of such factors. However there can be no assurance that sources of additional debt or equity financing will be available on acceptable terms if at all. We have adequate working capital and cash to meet our planned 2013 expenditures and have no plan to reduce our planned 2013 Mt. Hamilton permitting and development expenditures.

In addition we own other marketable equity securities with a fair value of $370,000 and $581,000 as of March 31, 2013 and December 31, 2012, respectively. Included in these securities are 430,000 shares of TNR that are classified as marketable equity securities available for sale and are recorded at their fair value of $30,000 as of March 31, 2013 and 3,333,333 shares of Ely that are classified as marketable equity securities available for sale and are recorded at their fair value at March 31, 2013 of $328,000. As a result of the completion of the purchase of Ely common stock discussed in Note 11, “Subsequent events” to the unaudited condensed consolidated financial statements, as of May 7, 2013, we own 8,464,483 shares of Ely.

At March 31, 2013 and December 31, 2012, we have classified $2,538,000 and $3,110,000, respectively, of our marketable equity securities as a short-term asset. Changes in the fair value of marketable equity securities are recorded as gains and losses in other comprehensive income in shareholders’ equity. During the three months ended March 31, 2013, we recorded an other comprehensive loss on marketable equity securities of $1,410,000 less a related deferred tax benefit of $526,000.

(table of contents)

Working Capital

We had working capital of $4,119,000 at March 31, 2013 compared to working capital of $4,245,000 as of December 31, 2012. Our working capital at March 31, 2013 consists primarily of our cash and cash equivalents and the current portion of our investment in marketable equity securities of $2,538,000, less our short-term margin loans of $1,500,000, current portion of long-term debt of $741,000, accounts payable of $430,000 and current deferred income taxes of $256,000 related to our planned sales of Kinross common stock during the next year. We will continue to monitor our exposure to a single asset, taking into consideration our cash and liquidity requirements, tax implications, the market price of gold and the market price of Kinross stock.

Cash and cash equivalents were $4,396,000 as of March 31, 2013 compared to $616,000 at December 31, 2012. During the three months ended March 31, 2013 we received a $4,000,000 payment of a receivable related to the sale of a royalty interest on our Mt. Hamilton project during 2012.

The nature of the mining business requires significant sources of capital to fund exploration, development and operation of mining projects. We will need additional resources to develop our Mt. Hamilton project or if we choose to develop any of our other mineral deposits on our own. We anticipate that we would finance these activities through the use of joint venture arrangements, the issuance of debt or equity, the sale of interests in our properties or the sale of our shares of Kinross common stock. There can be no assurance that such sources of funds will be available on terms acceptable to us, if at all.

Stock-Based Compensation Plans

During the first three months of 2013, 112,500 options were exercised at a price of Cdn$1.55 per share for proceeds of $176,000 and 5,000 options were exercised at a price of Cdn$1.49 per share for proceeds $7,000. During the three months ended March 31, 2012 no options were exercised from the 2006 Plan. None of our outstanding options from the 2006 Plan expire during 2013. We do not anticipate the exercise of options will be a material source of funds during the remainder of 2013.

(e) Cash Flows

Net cash used in operations during the first quarter of 2013 decreased to $791,000 compared to $891,000 for the first quarter of 2012 primarily as a result of the capitalization of exploration and development expenditures at our Mt. Hamilton project and the capitalization of interest costs paid in cash during 2013, both of which reduced the costs included in the statement of operations loss during 2013. Based upon projected expenditures in our 2013 budget, we anticipate continued use of funds from operations through the remainder of 2013. See Results of Operations discussed above for further explanation of some of these variances.

We provided $3,638,000 in cash from investing activities during the three months ended March 31, 2013 compared to $9,000 in cash from investing activities during the three months ended March 31, 2012. The increase in cash provided from investing activities is primarily related to the payment of a $4,000,000 receivable related to the sale of a royalty interest on our Mt. Hamilton project during 2012. This increase in cash during 2013 was partially offset by the reduction in proceeds from the sale of Kinross during the first three months of 2013, when there were no sales of Kinross compared to the sale of 30,000 shares of Kinross for net proceeds of $353,000 during the first three months of 2012. We anticipate continued sales of shares of Kinross during the remainder of 2013 as discussed above under “Liquidity and Capital Resources.”

Net cash provided from financing activities for the three months ended March 31, 2013 were primarily related to the proceeds from a $1,000,000 borrowing on long-term debt from RMB compared to the receipt of $787,000 in funds from short term borrowing during the three months ended March 31, 2012. Both of which were partially offset by payments of $250,000 and $150,000, respectively to DHI as part of our earn-in payments for MH-LLC during the three months ended March 31, 2013 and 2012. We may obtain additional cash from financing activities during 2013 in the form of either debt or equity financing. There can be no assurance that such sources of funds will be available on terms acceptable to us, if at all. See additional discussion of future financing needs above under “Liquidity and Capital Resources.”

(table of contents)

(f) Off-balance sheet arrangements

As of March 31, 2013 and December 31, 2012 we have no off-balance sheet obligations.

(g) Development Activities, Exploration Activities, Environmental Compliance and Contractual Obligations

There have been no changes to our development activities, exploration activities, environmental compliance or contractual obligations from those disclosed in our Management’s Discussion and Analysis included in our Annual Report on Form 10-K for the year ended December 31, 2012, except as it relates to the reduction in the Augusta payment discussed above in Note 11, “Subsequent events” to the unaudited condensed consolidated financial statements.

(h) Discontinued Projects

During the three months ended March 31, 2013, we recorded $10,000 of mineral property write-downs related to our Atico and Jaripo projects in Mexico. We did not record any mineral property write-downs during the three months ended March 31, 2012.

(i) Critical Accounting Estimates

Management’s Discussion and Analysis and Note 1 to the Consolidated Financial Statements included in our Annual Report on Form 10-K for the year ended December 31, 2012, describe the significant accounting estimates and policies used in preparation of our consolidated financial statements. Actual results in these areas could differ from management’s estimates. During the three months ended March 31, 2013, we have not adopted any additional accounting policies.

(j) Related Party Transactions

As of March 31, 2013, and for the three months ended March 31, 2013, we have no related party transactions or balances.

(k) Recent Accounting Pronouncements

There are no recent accounting pronouncements, adopted in the three months ended March 31, 2013 or issued by the FASB during the first three months of 2013 that would have a material impact upon Solitario.

(l) Forward Looking Statements

This Form 10-Q contains forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended, with respect to our financial condition, results of operations, business prospects, plans, objectives, goals, strategies, future events, capital expenditures, and exploration and development efforts. Words such as “anticipates,” “expects,” “intends,” “forecasts,” “plans,” “believes,” “seeks,” “estimates,” “may,” “will,” and similar expressions identify forward-looking statements. These forward-looking statements are based on our current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. When considering forward-looking statements, you should keep in mind the risk factors and other cautionary statements described under the heading "Risk Factors" included in Item 1A of Part I of our Annual Report on Form 10-K for the year ended December 31, 2012 and the risks described in Item 1A of Part II in this report. These forward-looking statements appear in a number of places in this report and include statements with respect to, among other things:

Our estimates of future exploration, development, general and administrative and other costs;

Our estimates of fair value of our investment in shares of Kinross and Ely;

Our expectations regarding development and exploration of our properties, including those subject to joint venture and shareholder agreements;

The impact of political and regulatory developments;

Our future financial condition or results of operations and our future revenues and expenses; and

Our business strategy and other plans and objectives for future operations.

(table of contents)

Although we have attempted to identify important factors that could cause actual results to differ materially from those described in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that these statements will prove to be accurate as actual results and future events could differ materially from those anticipated in the statements. Except as required by law, we assume no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.

Item 3. Quantitative and Qualitative Disclosures about Market Risk

Smaller Reporting Companies are not required to provide the information required by this item.

Item 4. Controls and Procedures

The management of Solitario is responsible for establishing and maintaining adequate internal control over financial reporting (as defined in Rules 13a-15(e) and 15d-15(e) of the Securities Exchange Act of 1934, as amended (the "Exchange Act")). During the fiscal period covered by this report, Solitario's management, with the participation of the Chief Executive Officer and Chief Financial Officer, carried out an evaluation of the effectiveness of Solitario's internal control over financial reporting and the design and operation of Solitario's disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) of the Exchange Act). This evaluation of the effectiveness of our internal control over financial reporting was based on the framework and criteria established in Internal Control - Integrated Framework, issued by the Committee of Sponsoring Organizations of the Treadway Commission. Based on such evaluation, Solitario's Chief Executive Officer and Chief Financial Officer have concluded that, as of March 31, 2013, Solitario's internal control over financial reporting is effective and that its disclosure controls and procedures are effective to ensure that information required to be disclosed by Solitario in reports that it files or submits under the Exchange Act is recorded, processed, summarized and reported within the required time periods and are designed to ensure that information required to be disclosed in its reports is accumulated and communicated to Solitario's management, including the Chief Executive Officer and Chief Financial Officer, as appropriate to allow timely decisions regarding required disclosure.

PART II - OTHER INFORMATION

Item 1. Legal Proceedings

None

Item 1A. Risk Factors

There are no material changes to the Risk Factors associated with our business disclosed in Part I, Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2012.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

None

Item 3. Defaults upon Senior Securities

None

Item 4. Mine Safety Disclosures

None

Item 5. Other Information

None

Item 6. Exhibits

The Exhibits to this report are listed in the Exhibit Index

(table of contents)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

SOLITARIO EXPLORATION & ROYALTY CORP.

May 7, 2013

Date

By:

/s/ James R. Maronick
James R. Maronick
Chief Financial Officer

EXHIBIT INDEX

3.1	Amended and Restated Articles of Incorporation of Solitario Exploration & Royalty Corp., as Amended (incorporated by reference to Exhibit 3.1 to Solitario’s Form 10-Q filed on August 10, 2010)

3.2	Amended and Restated By-laws of Solitario Exploration & Royalty Corp. (incorporated by reference to Exhibit 99.1 to Solitario’s Form 10-K filed on March 22, 2013)

4.1	Form of Common Stock Certificate of Solitario Exploration & Royalty Corp. (incorporated by reference to Exhibit 4.1 to Solitario’s Form 10-Q filed on August 7, 2008)

4.2	Form of Warrant Certificate of Solitario Exploration & Royalty Corp. (incorporated by reference to Exhibit 99.2 to Solitario’s Form 8-K filed on August 16, 2012)

31.1*	Certification of Chief Executive Officer pursuant to SEC Rule 13a-14(a)/15d-14(a) as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

31.2*	Certification of Chief Financial Officer pursuant to SEC Rule 13a-14(a)/15d-14(a) as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

32.1*	Certification of Chief Executive Officer pursuant to 18 U.S.C Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

32.2*	Certification of Chief Financial Officer pursuant to 18 U.S.C Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

101*	The following financial statements, formatted in XBRL: (i) Consolidated Balance Sheets as of March 31, 2012 and December 31, 2011, (ii) Consolidated Statements of Operations for the three months ended March 31, 2012 and 2011, (iii) Consolidated Statements of Comprehensive Income for the three months ended March 31, 2012 and 2011 (iii) Consolidated Statements of Cash Flows for the three months ended March 31, 2012 and 2011; and (iv) Notes to the Unaudited Consolidated Financial Statements, tagged as blocks of text. In accordance with Rule 406T of Regulation S-T, the information in these exhibits is furnished and deemed not filed or a part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, is deemed not filed for purposes of section 18 of the Securities Exchange Act of 1934, and otherwise is not subject to liability under these sections and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, except as expressly set forth by the specific reference in such filing.

*	Filed herewith

EX-31.1 2 exh311.htm CERTIFICATIONS

Exhibit 31.1

CERTIFICATIONS

I, Christopher E. Herald, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Solitario Exploration & Royalty Corp. for the three months ended March 31, 2013;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the registrant and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) and we have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: May 7, 2013

By: /s/ Christopher E. Herald
Christopher E. Herald
President and Chief Executive Officer

EX-31.2 3 exh312.htm CERTIFICATIONS

Exhibit 31.2

CERTIFICATIONS

I, James R. Maronick, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Solitario Exploration & Royalty Corp. for the three months ended March 31, 2013;

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: May 7, 2013
By: /s/ James R. Maronick
James R. Maronick
Chief Financial Officer

EX-32.1 4 exh321.htm

Exhibit 32.1

CERTIFICATION PURSUANT TO
18 U.S.C. SECTION 1350
AS ADOPTED PURSUANT TO
SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Solitario Exploration & Royalty Corp. (the "Company") on Form 10-Q for the period ended March 31, 2013, as filed with the Securities and Exchange Commission on the date hereof (the "Report"), I, Christopher E. Herald, President and Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to the best of my knowledge:

(1)

(2)

The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Date: May 7, 2013

By: /s/ Christopher E. Herald
Christopher E. Herald
President and Chief Executive Officer

EX-32.2 5 exh322.htm

Exhibit 32.2

CERTIFICATION PURSUANT TO
18 U.S.C. SECTION 1350
AS ADOPTED PURSUANT TO
SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Solitario Exploration & Royalty Corp. (the "Company") on Form 10-Q for the period ended March 31, 2013 as filed with the Securities and Exchange Commission on the date hereof (the "Report"), I, James R. Maronick, Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to the best of my knowledge:

(1)

(2)

The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Date: May 7, 2013
By: /s/ James R. Maronick
James R. Maronick
Chief Financial Officer

EX-101.INS 6 xpl-20130331.xml XBRL INSTANCE FILE 0000917225 2013-01-01 2013-03-31 0000917225 2013-03-31 0000917225 2012-12-31 0000917225 2012-01-01 2012-03-31 0000917225 2011-12-31 0000917225 2012-03-31 0000917225 2013-04-22 0000917225 2010-07-21 0000917225 2012-02-22 0000917225 2013-05-07 0000917225 2012-08-10 0000917225 2010-01-01 2010-12-31 0000917225 us-gaap:CommonStockMember 2013-01-01 2013-03-31 0000917225 us-gaap:CommonStockMember 2012-12-31 0000917225 us-gaap:CommonStockMember 2013-03-31 0000917225 us-gaap:AdditionalPaidInCapitalMember 2013-01-01 2013-03-31 0000917225 us-gaap:RetainedEarningsMember 2013-01-01 2013-03-31 0000917225 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2013-01-01 2013-03-31 0000917225 XPL:TotalSolitarioShareholderEquityMember 2013-01-01 2013-03-31 0000917225 us-gaap:NoncontrollingInterestMember 2013-01-01 2013-03-31 0000917225 2013-05-01 0000917225 2013-06-01 0000917225 2013-04-24 iso4217:USD xbrli:shares iso4217:USD xbrli:shares xbrli:pure Solitario Exploration & Royalty Corp. 0000917225 10-Q 2013-03-31 false --12-31 No No Yes Smaller Reporting Company Q1 2013 34647458

4396000

616000

432000

237000

2538000

3110000

212000

210000

7146000

7936000

9832000

9327000

3145000

3983000

852000

1165000

1007000

1072000

21982000

23483000

430000

398000

1500000

741000

727000

256000

963000

100000

103000

3027000

3691000

3519000

2437000

7000000

1039000

1138000

346000

345000

47491000

47107000

-43669000

-42678000

3030000

3914000

7198000

8688000

199000

529000

7397000

9217000

21982000

23483000

0.01

10000000

0.01

100000000

34647458

34479958

34647458

34479958

362000

524000

7000

14000

627000

671000

3000

66000

68000

54000

8000

9000

949000

1194000

332000

-313000

-109000

-994000

-862000

-3000

-192000

-991000 -670000

-0.03

-0.02

34589

34216

99000

-214000

223000

-1163000 -971000

-169000

-109000

-884000

-889000

1878000 1751000 -1875000 -1559000 -3000 -192000 -1878000 -1751000 -994000 -862000 313000 109000

125000

174000

10000 -332000

-14000

239000

33000

-111000

-791000

-891000

-362000 -335000

-9000

353000

3638000

9000

183000

50000

250000

150000

3780000

-195000

49000 77000 41000 531000

-3000

-66000

-99000 -169000 -109000

53000

4000000

787000

1000000

933000

687000

35000

145000 2983000

1.       Business and Significant Accounting Policies   Business              Solitario Exploration & Royalty Corp. (Solitario) is a development stage company (but not a company in the Development Stage) under Industry Guide 7, as issued by the United States Securities and Exchange Commission, with a focus on developing the Mt. Hamilton project located in Nevada. In addition to its Mt. Hamilton project, Solitario acquires and holds a portfolio of precious and base metal exploration properties for future sale, joint venture or to create a royalty prior to the establishment of proven and probable reserves. Although Solitario intends to develop the Mt. Hamilton project, Solitario has never developed a mineral property. At March 31, 2013, Solitario's mineral properties are located in the United States, Mexico, Brazil and Peru.             The accompanying interim condensed consolidated financial statements of Solitario for the three months ended March 31, 2013 and 2012 are unaudited and are prepared in accordance with accounting principles generally accepted in the United States of America. They do not include all disclosures required by generally accepted accounting principles for annual financial statements, but in the opinion of management, include all adjustments, consisting only of normal recurring items, necessary for a fair presentation. Interim results are not necessarily indicative of results, which may be achieved in the future or for the full year ending December 31, 2013.             These financial statements should be read in conjunction with the financial statements and notes thereto which are included in Solitarios Annual Report on Form 10-K for the year ended December 31, 2012. The accounting policies set forth in those annual financial statements are the same as the accounting policies utilized in the preparation of these financial statements, except as modified for appropriate interim financial statement presentation.   Investment in Kinross             Solitario has a significant investment in Kinross Gold Corporation (Kinross) at March 31, 2013, which consists of 670,000 shares of Kinross common stock. Solitario did not sell any of its shares of Kinross during the three months ended March 31, 2013. During the three months ended March 31, 2012 Solitario sold 30,000 shares of Kinross for net proceeds of $353,000 and recorded a gain on sale of $332,000. As of March 31, 2013 and December 31, 2012, Solitario has borrowed $1,500,000 in short-term margin loans against its holdings of Kinross shares. The short-term margin loans are discussed below under, Short-term debt. Subsequent to March 31, 2013 Solitario sold 10,000 shares of Kinross for proceeds of $54,000 and as of May 7, 2013 we own 660,000 shares of Kinross common stock which have a value of approximately $3.48 million based upon the market price of $5.28 per Kinross share. Solitarios investment in Kinross common stock represents a significant concentration of assets, with the inherent risk that entails. Any significant fluctuation in the market value of Kinross common shares could have a material impact on our liquidity and capital resources.   Equity method investments             Solitario accounts for its investment in Pedra Branca do Mineracao, Ltd. (PBM) under the equity method as of July 21, 2010, when Anglo Platinum Limited (Anglo) earned a 51% interest in PBM. Solitario elected not to record its investment in PBM at fair value after July 21, 2010 and during the three months ended March 31, 2013 and 2012 recorded a reduction of $313,000 and $109,000, respectively, in its equity method investment for Solitarios share of the loss of PBM during 2012 and 2011.   Employee stock compensation plans             Solitarios outstanding options on the date of grant have a five year term, and vest 25% on date of grant and 25% on each of the next three anniversary dates. Solitario recognizes stock option compensation expense on the date of grant for 25% of the grant date fair value, and subsequently, based upon a straight line amortization of the unvested grant date fair value of each of its outstanding options. During the three months ended March 31, 2013 and 2012, Solitario recorded $125,000 and $174,000, respectively, of stock option expense for the amortization of grant date fair value with a credit to additional paid-in-capital.             On June 27, 2006 Solitarios shareholders approved the 2006 Stock Option Incentive Plan (the 2006 Plan). Under the terms of the 2006 Plan, the Board of Directors may grant up to 2,800,000 options to Directors, officers and employees with exercise prices equal to the market price of Solitarios common stock at the date of grant.             There were no new options granted during the three months ended March 31, 2013 and 2012. During the three months ended March 31, 2013 options for 112,500 shares were exercised at a price of Cdn$1.55 per share for proceeds of $176,000 and 5,000 options were exercised at a price of Cdn$1.49 per share for proceeds of $7,000. No options were exercised during the three months ended March 31, 2012.   Earnings per share             The calculation of basic and diluted earnings and loss per share is based on the weighted average number of common shares outstanding during the three months ended March 31, 2013 and 2012. During the three months ended March 31, 2013 and 2012, Solitario excluded 2,480,900 and 2,433,400, respectively, potentially dilutive shares related to outstanding common stock options from the calculation because the effects were anti-dilutive. During the three months ended March 31, 2013, Solitario excluded an additional 1,624,748 shares related to warrants from the calculation because the effects were anti-dilutive.   Marketable equity securities             Solitario's investments in marketable equity securities are classified as available-for-sale and are carried at fair value, which is based upon quoted prices of the securities owned. The cost of marketable equity securities sold is determined by the specific identification method. Changes in market value are recorded in accumulated other comprehensive income within shareholders' equity, unless a decline in market value is considered other than temporary, in which case the decline is recognized as a loss in the consolidated statement of operations.   The following tables summarize Solitarios marketable equity securities and accumulated other comprehensive income related to its marketable equity securities: <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="width: 72%; layout-grid-mode: line; text-align: justify">(in thousands)</td> <td style="width: 14%; border-bottom: windowtext 1pt solid; layout-grid-mode: line; text-align: center">    March  31,     2013</td> <td style="width: 14%; border-bottom: windowtext 1pt solid; layout-grid-mode: line; text-align: center">    December 31,     2012</td></tr> <tr style="vertical-align: bottom"> <td style="layout-grid-mode: line">  Marketable equity securities at fair value</td> <td style="layout-grid-mode: line; text-align: right">$5,683 </td> <td style="layout-grid-mode: line; text-align: right">$7,093 </td></tr> <tr style="vertical-align: bottom"> <td style="layout-grid-mode: line">  Cost</td> <td style="border-bottom: windowtext 1pt solid; layout-grid-mode: line; text-align: right">  851 </td> <td style="border-bottom: windowtext 1pt solid; layout-grid-mode: line; text-align: right">   851 </td></tr> <tr style="vertical-align: bottom"> <td style="layout-grid-mode: line">  Accumulated other comprehensive income for     unrealized holding gains</td> <td style="layout-grid-mode: line; text-align: right">4,832 </td> <td style="layout-grid-mode: line; text-align: right">6,242  </td></tr> <tr style="vertical-align: bottom"> <td style="layout-grid-mode: line">  Deferred taxes on accumulated other comprehensive     income for unrealized holding gains</td> <td style="border-bottom: windowtext 1pt solid; layout-grid-mode: line; text-align: right"> 1,802 </td> <td style="border-bottom: windowtext 1pt solid; layout-grid-mode: line; text-align: right">2,328 </td></tr> <tr style="vertical-align: bottom"> <td style="layout-grid-mode: line">Accumulated other comprehensive income</td> <td style="border-bottom: windowtext 1pt solid; layout-grid-mode: line; text-align: right">$3,030 </td> <td style="border-bottom: windowtext 1pt solid; layout-grid-mode: line; text-align: right">$3,914 </td></tr> </table>           The following table represents changes in marketable equity securities.   <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">(in thousands)</td> <td colspan="2" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">Three months ended March 31,</td></tr> <tr> <td style="vertical-align: top; width: 72%; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line"> </td> <td style="vertical-align: bottom; width: 14%; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">2013</td> <td style="vertical-align: bottom; width: 14%; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">2012</td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">Gross cash proceeds</td> <td style="vertical-align: bottom; padding-right: -0.9pt; padding-left: 0.1in; layout-grid-mode: line; text-align: right">$   -   </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$    353 </td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">Cost</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"> -   </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">  21 </td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">Gross gain on sale included in earnings during the period</td> <td style="vertical-align: bottom; padding-right: 7.5pt; padding-left: 0.1in; layout-grid-mode: line; text-align: right"> -</td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">332 </td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">Deferred taxes on gross gain on sale included in earnings</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 7.5pt; padding-left: 0.1in; layout-grid-mode: line; text-align: right"> -</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">(124)</td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">Reclassification adjustment to unrealized gain in other    comprehensive income for net gains included in earnings</td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">-   </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">(208)</td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">Gross unrealized holding loss arising during the period    included in other comprehensive loss</td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">(1,410)</td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">(1,086)</td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">Deferred taxes on unrealized holding loss included in    other comprehensive loss</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"> 526 </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">405 </td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">Net unrealized holding (loss) gain</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">(884)</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">(681)</td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">Other comprehensive (loss) income from marketable equity securities</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$(884)</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$(889)</td></tr> </table>

1.       Business and Significant Accounting Policies   Business              Solitario Exploration & Royalty Corp. (Solitario) is a development stage company (but not a company in the Development Stage) under Industry Guide 7, as issued by the United States Securities and Exchange Commission, with a focus on developing the Mt. Hamilton project located in Nevada. In addition to its Mt. Hamilton project, Solitario acquires and holds a portfolio of precious and base metal exploration properties for future sale, joint venture or to create a royalty prior to the establishment of proven and probable reserves. Although Solitario intends to develop the Mt. Hamilton project, Solitario has never developed a mineral property. At March 31, 2013, Solitario's mineral properties are located in the United States, Mexico, Brazil and Peru.             The accompanying interim condensed consolidated financial statements of Solitario for the three months ended March 31, 2013 and 2012 are unaudited and are prepared in accordance with accounting principles generally accepted in the United States of America. They do not include all disclosures required by generally accepted accounting principles for annual financial statements, but in the opinion of management, include all adjustments, consisting only of normal recurring items, necessary for a fair presentation. Interim results are not necessarily indicative of results, which may be achieved in the future or for the full year ending December 31, 2013.             These financial statements should be read in conjunction with the financial statements and notes thereto which are included in Solitarios Annual Report on Form 10-K for the year ended December 31, 2012. The accounting policies set forth in those annual financial statements are the same as the accounting policies utilized in the preparation of these financial statements, except as modified for appropriate interim financial statement presentation.

Investment in Kinross             Solitario has a significant investment in Kinross Gold Corporation (Kinross) at March 31, 2013, which consists of 670,000 shares of Kinross common stock. Solitario did not sell any of its shares of Kinross during the three months ended March 31, 2013. During the three months ended March 31, 2012 Solitario sold 30,000 shares of Kinross for net proceeds of $353,000 and recorded a gain on sale of $332,000. As of March 31, 2013 and December 31, 2012, Solitario has borrowed $1,500,000 in short-term margin loans against its holdings of Kinross shares. The short-term margin loans are discussed below under, Short-term debt. Subsequent to March 31, 2013 Solitario sold 10,000 shares of Kinross for proceeds of $54,000 and as of May 7, 2013 we own 660,000 shares of Kinross common stock which have a value of approximately $3.48 million based upon the market price of $5.38 per Kinross share. Solitarios investment in Kinross common stock represents a significant concentration of assets, with the inherent risk that entails. Any significant fluctuation in the market value of Kinross common shares could have a material impact on our liquidity and capital resources. Equity method investments             Solitario accounts for its investment in Pedra Branca do Mineracao, Ltd. (PBM) under the equity method as of July 21, 2010, when Anglo Platinum Limited (Anglo) earned a 51% interest in PBM. Solitario elected not to record its investment in PBM at fair value after July 21, 2010 and during the three months ended March 31, 2013 and 2012 recorded a reduction of $313,000 and $109,000, respectively, in its equity method investment for Solitarios share of the loss of PBM during 2012 and 2011. Employee stock compensation plans             Solitarios outstanding options on the date of grant have a five year term, and vest 25% on date of grant and 25% on each of the next three anniversary dates. Solitario recognizes stock option compensation expense on the date of grant for 25% of the grant date fair value, and subsequently, based upon a straight line amortization of the unvested grant date fair value of each of its outstanding options. During the three months ended March 31, 2013 and 2012, Solitario recorded $125,000 and $174,000, respectively, of stock option expense for the amortization of grant date fair value with a credit to additional paid-in-capital.             On June 27, 2006 Solitarios shareholders approved the 2006 Stock Option Incentive Plan (the 2006 Plan). Under the terms of the 2006 Plan, the Board of Directors may grant up to 2,800,000 options to Directors, officers and employees with exercise prices equal to the market price of Solitarios common stock at the date of grant.             There were no new options granted during the three months ended March 31, 2013 and 2012. During the three months ended March 31, 2013 options for 112,500 shares were exercised at a price of Cdn$1.55 per share for proceeds of $176,000 and 5,000 options were exercised at a price of Cdn$1.49 per share for proceeds of $7,000. No options were exercised during the three months ended March 31, 2012.

Earnings per share             The calculation of basic and diluted earnings and loss per share is based on the weighted average number of common shares outstanding during the three months ended March 31, 2013 and 2012. During the three months ended March 31, 2013 and 2012, Solitario excluded 2,480,900 and 2,433,400, respectively, potentially dilutive shares related to outstanding common stock options from the calculation because the effects were anti-dilutive. During the three months ended March 31, 2013, Solitario excluded an additional 1,624,748 shares related to warrants from the calculation because the effects were anti-dilutive.

Marketable equity securities             Solitario's investments in marketable equity securities are classified as available-for-sale and are carried at fair value, which is based upon quoted prices of the securities owned. The cost of marketable equity securities sold is determined by the specific identification method. Changes in market value are recorded in accumulated other comprehensive income within shareholders' equity, unless a decline in market value is considered other than temporary, in which case the decline is recognized as a loss in the consolidated statement of operations.   The following tables summarize Solitarios marketable equity securities and accumulated other comprehensive income related to its marketable equity securities: <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="width: 72%; layout-grid-mode: line; text-align: justify">(in thousands)</td> <td style="width: 14%; border-bottom: windowtext 1pt solid; layout-grid-mode: line; text-align: center">    March  31,     2013</td> <td style="width: 14%; border-bottom: windowtext 1pt solid; layout-grid-mode: line; text-align: center">    December 31,     2012</td></tr> <tr style="vertical-align: bottom"> <td style="layout-grid-mode: line">  Marketable equity securities at fair value</td> <td style="layout-grid-mode: line; text-align: right">$5,683 </td> <td style="layout-grid-mode: line; text-align: right">$7,093 </td></tr> <tr style="vertical-align: bottom"> <td style="layout-grid-mode: line">  Cost</td> <td style="border-bottom: windowtext 1pt solid; layout-grid-mode: line; text-align: right">  851 </td> <td style="border-bottom: windowtext 1pt solid; layout-grid-mode: line; text-align: right">   851 </td></tr> <tr style="vertical-align: bottom"> <td style="layout-grid-mode: line">  Accumulated other comprehensive income for     unrealized holding gains</td> <td style="layout-grid-mode: line; text-align: right">4,832 </td> <td style="layout-grid-mode: line; text-align: right">6,242  </td></tr> <tr style="vertical-align: bottom"> <td style="layout-grid-mode: line">  Deferred taxes on accumulated other comprehensive     income for unrealized holding gains</td> <td style="border-bottom: windowtext 1pt solid; layout-grid-mode: line; text-align: right"> 1,802 </td> <td style="border-bottom: windowtext 1pt solid; layout-grid-mode: line; text-align: right">2,328 </td></tr> <tr style="vertical-align: bottom"> <td style="layout-grid-mode: line">Accumulated other comprehensive income</td> <td style="border-bottom: windowtext 1pt solid; layout-grid-mode: line; text-align: right">$3,030 </td> <td style="border-bottom: windowtext 1pt solid; layout-grid-mode: line; text-align: right">$3,914 </td></tr> </table>           The following table represents changes in marketable equity securities.   <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">(in thousands)</td> <td colspan="2" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">Three months ended March 31,</td></tr> <tr> <td style="vertical-align: top; width: 72%; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line"> </td> <td style="vertical-align: bottom; width: 14%; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">2013</td> <td style="vertical-align: bottom; width: 14%; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">2012</td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">Gross cash proceeds</td> <td style="vertical-align: bottom; padding-right: -0.9pt; padding-left: 0.1in; layout-grid-mode: line; text-align: right">$   -   </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$    353 </td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">Cost</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"> -   </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">  21 </td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">Gross gain on sale included in earnings during the period</td> <td style="vertical-align: bottom; padding-right: 7.5pt; padding-left: 0.1in; layout-grid-mode: line; text-align: right"> -</td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">332 </td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">Deferred taxes on gross gain on sale included in earnings</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 7.5pt; padding-left: 0.1in; layout-grid-mode: line; text-align: right"> -</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">(124)</td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">Reclassification adjustment to unrealized gain in other    comprehensive income for net gains included in earnings</td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">-   </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">(208)</td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">Gross unrealized holding loss arising during the period    included in other comprehensive loss</td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">(1,410)</td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">(1,086)</td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">Deferred taxes on unrealized holding loss included in    other comprehensive loss</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"> 526 </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">405 </td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">Net unrealized holding (loss) gain</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">(884)</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">(681)</td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">Other comprehensive (loss) income from marketable equity securities</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$(884)</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$(889)</td></tr> </table> <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="width: 72%; layout-grid-mode: line; text-align: justify">(in thousands)</td> <td style="width: 14%; border-bottom: windowtext 1pt solid; layout-grid-mode: line; text-align: center">    March  31,     2013</td> <td style="width: 14%; border-bottom: windowtext 1pt solid; layout-grid-mode: line; text-align: center">    December 31,     2012</td></tr> <tr style="vertical-align: bottom"> <td style="layout-grid-mode: line">  Marketable equity securities at fair value</td> <td style="layout-grid-mode: line; text-align: right">$5,683 </td> <td style="layout-grid-mode: line; text-align: right">$7,093 </td></tr> <tr style="vertical-align: bottom"> <td style="layout-grid-mode: line">  Cost</td> <td style="border-bottom: windowtext 1pt solid; layout-grid-mode: line; text-align: right">  851 </td> <td style="border-bottom: windowtext 1pt solid; layout-grid-mode: line; text-align: right">   851 </td></tr> <tr style="vertical-align: bottom"> <td style="layout-grid-mode: line">  Accumulated other comprehensive income for     unrealized holding gains</td> <td style="layout-grid-mode: line; text-align: right">4,832 </td> <td style="layout-grid-mode: line; text-align: right">6,242  </td></tr> <tr style="vertical-align: bottom"> <td style="layout-grid-mode: line">  Deferred taxes on accumulated other comprehensive     income for unrealized holding gains</td> <td style="border-bottom: windowtext 1pt solid; layout-grid-mode: line; text-align: right"> 1,802 </td> <td style="border-bottom: windowtext 1pt solid; layout-grid-mode: line; text-align: right">2,328 </td></tr> <tr style="vertical-align: bottom"> <td style="layout-grid-mode: line">Accumulated other comprehensive income</td> <td style="border-bottom: windowtext 1pt solid; layout-grid-mode: line; text-align: right">$3,030 </td> <td style="border-bottom: windowtext 1pt solid; layout-grid-mode: line; text-align: right">$3,914 </td></tr> </table> <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">(in thousands)</td> <td colspan="2" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">Three months ended March 31,</td></tr> <tr> <td style="vertical-align: top; width: 72%; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line"> </td> <td style="vertical-align: bottom; width: 14%; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">2013</td> <td style="vertical-align: bottom; width: 14%; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">2012</td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">Gross cash proceeds</td> <td style="vertical-align: bottom; padding-right: -0.9pt; padding-left: 0.1in; layout-grid-mode: line; text-align: right">$   -   </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$    353 </td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">Cost</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"> -   </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">  21 </td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">Gross gain on sale included in earnings during the period</td> <td style="vertical-align: bottom; padding-right: 7.5pt; padding-left: 0.1in; layout-grid-mode: line; text-align: right"> -</td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">332 </td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">Deferred taxes on gross gain on sale included in earnings</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 7.5pt; padding-left: 0.1in; layout-grid-mode: line; text-align: right"> -</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">(124)</td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">Reclassification adjustment to unrealized gain in other    comprehensive income for net gains included in earnings</td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">-   </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">(208)</td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">Gross unrealized holding loss arising during the period    included in other comprehensive loss</td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">(1,410)</td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">(1,086)</td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">Deferred taxes on unrealized holding loss included in    other comprehensive loss</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"> 526 </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">405 </td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">Net unrealized holding (loss) gain</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">(884)</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">(681)</td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">Other comprehensive (loss) income from marketable equity securities</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$(884)</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$(889)</td></tr> </table> 670000 30000 353000 332000 1500000 1500000 54000 313000 109000 125000 174000 2800000 176000 7000 2480900 2433400 1624748 5683 7093 851 851 4832 6242 1802 2328 3030 3914 353 21 332 -124 -208 -1410 -1086 526 405 -884 -681 -884 -889 .51 10000 -4000000

2.        Mineral Property   The following table details Solitarios investment in Mineral Property: <table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse"> <tr> <td style="vertical-align: top; width: 72%; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">(in thousands)</td> <td style="vertical-align: bottom; width: 14%; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">March 31,</td> <td style="vertical-align: bottom; width: 14%; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">December 31,</td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line"> </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">2013</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">2012</td></tr> <tr style="vertical-align: bottom"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">Development (United States)</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">   Mt. Hamilton</td> <td style="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$9,790 </td> <td style="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$9,275 </td></tr> <tr style="vertical-align: bottom"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">Exploration</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">   Pachuca (Mexico)</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">20 </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">20 </td></tr> <tr style="vertical-align: bottom"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">   Norcan (Mexico)</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">6 </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">6 </td></tr> <tr style="vertical-align: bottom"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">   Aconchi (Mexico)</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">5 </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">5 </td></tr> <tr style="vertical-align: bottom"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">   Canta Colorado (Mexico)</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">3 </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">3 </td></tr> <tr style="vertical-align: bottom"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">   Cerro Azul (Peru)</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">3 </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">3 </td></tr> <tr style="vertical-align: bottom"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">   La Promesa (Peru)</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">5 </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">5 </td></tr> <tr style="vertical-align: bottom"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">   Atico (Peru)</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">-   </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">5 </td></tr> <tr style="vertical-align: bottom"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">   Jaripo (Mexico)</td> <td style="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">-   </td> <td style="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">5 </td></tr> <tr style="vertical-align: bottom"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">     Total exploration</td> <td style="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"> 42 </td> <td style="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">  52 </td></tr> <tr style="vertical-align: bottom"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">     Total mineral property</td> <td style="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$9,832</td> <td style="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$9,327</td></tr> </table>   Mt. Hamilton             On February 22, 2012, Solitario announced the completion of a feasibility study related to its Mt. Hamilton project (the Feasibility Study) prepared by SRK Consulting (US), Inc. of Lakewood, Colorado (SRK). As a result of the completion of the Feasibility Study, Solitario earned an 80% interest in MH-LLC, owner of the Mt. Hamilton project, and intends to develop the Mt. Hamilton project, subject to a number of factors including obtaining necessary permits and availability of required capital, none of which is currently in place.             Solitario began capitalizing its development costs incurred at its Mt. Hamilton project subsequent to the completion of the Feasibility Study. During the three months ended March 31, 2013, Solitario capitalized a total of $515,000 of development costs related to our Mt. Hamilton project including $327,000 related to development expenditures, $8,000 of depreciation and $180,000 of interest. During the three months ended March 31, 2012 Solitario capitalized $220,000 of development costs at the Mt. Hamilton project. All exploration costs on our other exploration properties, none of which have proven and probable reserves, including any additional costs incurred for subsequent lease payments or exploration activities related to our projects are expensed as incurred.   Discontinued projects             During the three months ended March 31, 2013, Solitario recorded $10,000 of mineral property write-downs related to its Atico and Jaripo projects in Mexico. Solitario did not record any mineral property write-downs during the three months ended March 31, 2012.   Exploration expense             The following items comprised exploration expense:   <table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse"> <tr> <td style="vertical-align: top; padding-right: 0.55in; padding-left: 5.4pt; layout-grid-mode: line">(in thousands)</td> <td colspan="2" style="vertical-align: bottom; padding-right: 8.1pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">Three months ended  March 31,</td></tr> <tr> <td style="vertical-align: top; width: 72%; padding-right: 0.55in; padding-left: 5.4pt; layout-grid-mode: line"> </td> <td style="vertical-align: bottom; width: 14%; border-bottom: windowtext 1pt solid; padding-right: 8.1pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">2013</td> <td style="vertical-align: bottom; width: 14%; border-bottom: windowtext 1pt solid; padding-right: 8.1pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">2012  </td></tr> <tr> <td style="vertical-align: top; padding-right: 0.55in; padding-left: 5.4pt; layout-grid-mode: line">Geologic and field expenses</td> <td style="vertical-align: bottom; padding-right: 8.1pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$246 </td> <td style="vertical-align: bottom; padding-right: 8.1pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$237 </td></tr> <tr> <td style="vertical-align: top; padding-right: 0.55in; padding-left: 5.4pt; layout-grid-mode: line">Administrative</td> <td style="vertical-align: bottom; padding-right: 8.1pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">116 </td> <td style="vertical-align: bottom; padding-right: 8.1pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">118 </td></tr> <tr> <td style="vertical-align: top; padding-right: 0.55in; padding-left: 5.4pt; layout-grid-mode: line">Mt. Hamilton exploration and development</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 8.1pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">  -   </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 8.1pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">169 </td></tr> <tr> <td style="vertical-align: top; padding-right: 0.55in; padding-left: 5.4pt; layout-grid-mode: line">Total exploration costs</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 8.1pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$ 362 </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 8.1pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$ 524 </td></tr> </table>

<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse"> <tr> <td style="vertical-align: top; width: 72%; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">(in thousands)</td> <td style="vertical-align: bottom; width: 14%; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">March 31,</td> <td style="vertical-align: bottom; width: 14%; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">December 31,</td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line"> </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">2013</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">2012</td></tr> <tr style="vertical-align: bottom"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">Development (United States)</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">   Mt. Hamilton</td> <td style="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$9,790 </td> <td style="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$9,275 </td></tr> <tr style="vertical-align: bottom"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">Exploration</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">   Pachuca (Mexico)</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">20 </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">20 </td></tr> <tr style="vertical-align: bottom"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">   Norcan (Mexico)</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">6 </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">6 </td></tr> <tr style="vertical-align: bottom"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">   Aconchi (Mexico)</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">5 </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">5 </td></tr> <tr style="vertical-align: bottom"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">   Canta Colorado (Mexico)</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">3 </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">3 </td></tr> <tr style="vertical-align: bottom"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">   Cerro Azul (Peru)</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">3 </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">3 </td></tr> <tr style="vertical-align: bottom"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">   La Promesa (Peru)</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">5 </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">5 </td></tr> <tr style="vertical-align: bottom"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">   Atico (Peru)</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">-   </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">5 </td></tr> <tr style="vertical-align: bottom"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">   Jaripo (Mexico)</td> <td style="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">-   </td> <td style="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">5 </td></tr> <tr style="vertical-align: bottom"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">     Total exploration</td> <td style="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"> 42 </td> <td style="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">  52 </td></tr> <tr style="vertical-align: bottom"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">     Total mineral property</td> <td style="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$9,832</td> <td style="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$9,327</td></tr> </table> <table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse"> <tr> <td style="vertical-align: top; padding-right: 0.55in; padding-left: 5.4pt; layout-grid-mode: line">(in thousands)</td> <td colspan="2" style="vertical-align: bottom; padding-right: 8.1pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">Three months ended  March 31,</td></tr> <tr> <td style="vertical-align: top; width: 72%; padding-right: 0.55in; padding-left: 5.4pt; layout-grid-mode: line"> </td> <td style="vertical-align: bottom; width: 14%; border-bottom: windowtext 1pt solid; padding-right: 8.1pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">2013</td> <td style="vertical-align: bottom; width: 14%; border-bottom: windowtext 1pt solid; padding-right: 8.1pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">2012  </td></tr> <tr> <td style="vertical-align: top; padding-right: 0.55in; padding-left: 5.4pt; layout-grid-mode: line">Geologic and field expenses</td> <td style="vertical-align: bottom; padding-right: 8.1pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$246 </td> <td style="vertical-align: bottom; padding-right: 8.1pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$237 </td></tr> <tr> <td style="vertical-align: top; padding-right: 0.55in; padding-left: 5.4pt; layout-grid-mode: line">Administrative</td> <td style="vertical-align: bottom; padding-right: 8.1pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">116 </td> <td style="vertical-align: bottom; padding-right: 8.1pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">118 </td></tr> <tr> <td style="vertical-align: top; padding-right: 0.55in; padding-left: 5.4pt; layout-grid-mode: line">Mt. Hamilton exploration and development</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 8.1pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">  -   </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 8.1pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">169 </td></tr> <tr> <td style="vertical-align: top; padding-right: 0.55in; padding-left: 5.4pt; layout-grid-mode: line">Total exploration costs</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 8.1pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$ 362 </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 8.1pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$ 524 </td></tr> </table> 9790 9275 20 20 6 6 5 5 3 3 3 3 5 5 5 5 42 52 9832 9327 246 237 116 118 169 362 524 .80 515000 220000 327000 8000 180000 10000

3.        Other assets             The following items comprised other assets:   <table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse"> <tr> <td style="vertical-align: top; width: 72%; padding-right: 0.55in; padding-left: 5.4pt; layout-grid-mode: line">(in thousands)</td> <td style="vertical-align: bottom; width: 14%; padding-right: 8.1pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center"> March 31,</td> <td style="vertical-align: bottom; width: 14%; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">December 31,</td></tr> <tr> <td style="vertical-align: top; padding-right: 0.55in; padding-left: 5.4pt; layout-grid-mode: line"> </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 8.1pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">2013</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 8.1pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">2012  </td></tr> <tr> <td style="vertical-align: top; padding-right: 0.55in; padding-left: 5.4pt; layout-grid-mode: line">Deferred offering costs RMB Loan</td> <td style="vertical-align: bottom; padding-right: 8.1pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$469 </td> <td style="vertical-align: bottom; padding-right: 8.1pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$518 </td></tr> <tr> <td style="vertical-align: top; padding-right: 0.55in; padding-left: 5.4pt; layout-grid-mode: line">Accumulated Mt. Hamilton advance royalty payments</td> <td style="vertical-align: bottom; padding-right: 8.1pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">300 </td> <td style="vertical-align: bottom; padding-right: 8.1pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">300 </td></tr> <tr> <td style="vertical-align: top; padding-right: 0.55in; padding-left: 5.4pt; layout-grid-mode: line">Furniture and Fixtures, net of accumulated depreciation</td> <td style="vertical-align: bottom; padding-right: 8.1pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">  128 </td> <td style="vertical-align: bottom; padding-right: 8.1pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">143 </td></tr> <tr> <td style="vertical-align: top; padding-right: 0.55in; padding-left: 5.4pt; layout-grid-mode: line">Exploration bonds and other assets</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 8.1pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">  110 </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 8.1pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">111 </td></tr> <tr> <td style="vertical-align: top; padding-right: 0.55in; padding-left: 5.4pt; layout-grid-mode: line">Total other assets</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 8.1pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$ 1,007 </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 8.1pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$ 1,072 </td></tr> </table>             In connection with the RMB Loan, Solitario recorded deferred offering costs that are being amortized on a straight-line basis to interest cost over 36 months, the term of the Facility Agreement. See Note 5, Long-term debt, below.

4.       Short-term debt             Solitario maintains a secured credit line agreement with UBS Bank, USA (UBS Bank). At March 31, 2013, the credit line is secured by all of Solitarios assets held in its UBS brokerage account, consisting primarily of 460,000 Kinross shares. The UBS Bank credit line carries an interest rate which floats, based upon a base rate of 2.25% plus the one-month London Interbank Offered Rate ("LIBOR"), which is 0.20% as of March 31, 2013. The average interest rate was approximately 2.45% and 2.48%, respectively, for the three months ended March 31, 2013 and 2012. UBS Bank may change the base rate at any time. The UBS Bank credit line provides that Solitario may borrow up to $2 million and that Solitario maintain a minimum equity value percentage in its UBS brokerage account above 40%, based upon the value of its Kinross shares and any other assets held in Solitario's UBS brokerage account, less the value of its UBS Bank credit line and any other balances owed to UBS Bank. UBS Bank may modify the minimum equity value percentage of the loan at any time. In addition, if the equity value in Solitario's UBS brokerage account falls below the minimum equity value, UBS Bank may sell enough Kinross shares held in Solitario's UBS brokerage account or liquidate any other assets to restore the minimum equity value. At March 31, 2013, the equity value in Solitario's UBS brokerage account was 59%. At May 7, 2013, the balance outstanding in the UBS Bank credit line was $1,200,000, and the equity value in Solitarios UBS brokerage account was 51%.             Solitario also maintains a short-term margin account with RBC Capital Markets, LLC ("RBC"). At December 31, 2012, the credit line is secured by all of Solitarios assets held in its RBC brokerage account, consisting primarily of 210,000 of Solitarios Kinross shares. Solitario has utilized short-term margin loans from RBC, using Solitario's investment in Kinross held at RBC as collateral for the short-term margin loans. Solitario did not borrow against its short-term margin account during the three months ended March 31, 2013. The margin account calls for interest at a margin loan rate of 4.25% per annum, which floats based upon the London Interbank Offered Rate. The margin loan rate can be modified by RBC at any time. The margin loans are callable by RBC at any time. Per the terms of the margin loans, Solitario is required to maintain a minimum equity value in the account of 35%, based upon the value of its Kinross shares and any other assets held at RBC, less any short-term margin loan balance and any other balances owed to RBC. The equity value percentage may be modified by RBC at any time. If the equity value in Solitario's account at RBC falls below the minimum, RBC may call the loan, or may sell enough Kinross shares held in Solitario's brokerage account or liquidate any other assets to restore the minimum equity value. At March 31, 2013, Solitario had no outstanding borrowing on the RBC margin account and the equity balance in Solitario's account at RBC was 100%.   The following tables summarize Solitarios short-term debt: <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="width: 85%; layout-grid-mode: line; text-align: justify"> </td> <td style="width: 15%; layout-grid-mode: line; text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td style="layout-grid-mode: line; text-align: justify">  (in thousands)</td> <td style="border-bottom: windowtext 1pt solid; layout-grid-mode: line; text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td style="layout-grid-mode: line">  UBS short-term credit line</td> <td style="padding-right: 6pt; layout-grid-mode: line; text-align: right"> </td></tr> <tr style="vertical-align: bottom"> <td style="layout-grid-mode: line">      Beginning balance December 31, 2012</td> <td style="padding-right: 6pt; layout-grid-mode: line; text-align: right">$ 1,500 </td></tr> <tr style="vertical-align: bottom"> <td style="layout-grid-mode: line">        Borrowing</td> <td style="padding-right: 6pt; layout-grid-mode: line; text-align: right">900 </td></tr> <tr style="vertical-align: bottom"> <td style="layout-grid-mode: line">        Repayments</td> <td style="border-bottom: windowtext 1pt solid; padding-right: 6pt; layout-grid-mode: line; text-align: right">  (900)</td></tr> <tr style="vertical-align: bottom"> <td style="layout-grid-mode: line">      Ending balance March 31, 2013</td> <td style="border-bottom: windowtext 1pt solid; padding-right: 6pt; layout-grid-mode: line; text-align: right">$1,500 </td></tr> </table>   <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">(in thousands)</td> <td colspan="2" style="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"> Three months ended March 31,</td></tr> <tr> <td style="vertical-align: top; width: 74%; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line"> </td> <td style="vertical-align: bottom; width: 13%; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">2013</td> <td style="vertical-align: bottom; width: 13%; border-top: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">2012</td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">Interest UBS short-term credit line</td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$ 8 </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$13 </td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">Interest RBC short-term margin loan</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">  - </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">  4 </td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">   Total interest, short-term margin loans</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$ 8 </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$17 </td></tr> </table>   During the three months ended March 31, 2013, Solitario capitalized all of its interest to mineral property. See Note 2, Mineral property, above.

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="width: 85%; layout-grid-mode: line; text-align: justify"> </td> <td style="width: 15%; layout-grid-mode: line; text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td style="layout-grid-mode: line; text-align: justify">  (in thousands)</td> <td style="border-bottom: windowtext 1pt solid; layout-grid-mode: line; text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td style="layout-grid-mode: line">  UBS short-term credit line</td> <td style="padding-right: 6pt; layout-grid-mode: line; text-align: right"> </td></tr> <tr style="vertical-align: bottom"> <td style="layout-grid-mode: line">      Beginning balance December 31, 2012</td> <td style="padding-right: 6pt; layout-grid-mode: line; text-align: right">$ 1,500 </td></tr> <tr style="vertical-align: bottom"> <td style="layout-grid-mode: line">        Borrowing</td> <td style="padding-right: 6pt; layout-grid-mode: line; text-align: right">900 </td></tr> <tr style="vertical-align: bottom"> <td style="layout-grid-mode: line">        Repayments</td> <td style="border-bottom: windowtext 1pt solid; padding-right: 6pt; layout-grid-mode: line; text-align: right">  (900)</td></tr> <tr style="vertical-align: bottom"> <td style="layout-grid-mode: line">      Ending balance March 31, 2013</td> <td style="border-bottom: windowtext 1pt solid; padding-right: 6pt; layout-grid-mode: line; text-align: right">$1,500 </td></tr> </table> <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">(in thousands)</td> <td colspan="2" style="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"> Three months ended March 31,</td></tr> <tr> <td style="vertical-align: top; width: 74%; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line"> </td> <td style="vertical-align: bottom; width: 13%; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">2013</td> <td style="vertical-align: bottom; width: 13%; border-top: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">2012</td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">Interest UBS short-term credit line</td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$ 8 </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$13 </td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">Interest RBC short-term margin loan</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">  - </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">  4 </td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">   Total interest, short-term margin loans</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$ 8 </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$17 </td></tr> </table> 1500 900 -900 1500 8 13 4 8 17 460000 0.0245 0.0248 2000000 0.59 0.51 1200000 210000 0.35 1.00

5.       Long-term debt   Augusta debt             The following is the schedule of debt payments due Augusta Resources Corporation ("Augusta") as of March 31, 2013 and December 31, 2012:   <table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse"> <tr> <td style="vertical-align: bottom; width: 74%; padding-right: 5.4pt; padding-left: 5.4pt"> (in thousands) Payment date</td> <td style="vertical-align: top; width: 13%; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"> March 31, 2013</td> <td style="vertical-align: top; width: 13%; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"> December31, 2012</td></tr> <tr style="vertical-align: bottom"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">June 1, 2013</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">750 </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">750 </td></tr> <tr style="vertical-align: bottom"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">June 1, 2014</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">750 </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">750 </td></tr> <tr style="vertical-align: bottom"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">June 1, 2015</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">1,000 </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">1,000 </td></tr> <tr style="vertical-align: bottom"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">Unamortized discount</td> <td style="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">  (221)</td> <td style="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"> (264)</td></tr> <tr style="vertical-align: bottom"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">Total</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">2,279 </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">2,236 </td></tr> <tr style="vertical-align: bottom"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">Current portion</td> <td style="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">741 </td> <td style="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">  727 </td></tr> <tr style="vertical-align: bottom"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">Long-term debt</td> <td style="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$1,538 </td> <td style="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$1,509 </td></tr> </table>             During the three months ended March 31, 2013 and 2012, Solitario recorded $42,000 and $53,000, respectively, of interest for accretion of the debt discount related to MH-LLC long-term debt due to Augusta. During the three months ended March 31, 2013, Solitario capitalized all of its interest to mineral property. See Note 2, Mineral property, above. On April 22, 2013, Solitario and Ely Gold and Minerals, Inc. (Ely) agreed to modify the terms of their agreement with regard to the payment due to Augusta on June 1, 2013. See Note 11, Subsequent events, below.   RMB Facility Agreement             On August 10, 2012, Solitario entered into a Facility Agreement (the Facility Agreement) with RMB Australia Holdings Limited, an Australian corporation (RMBAH), and RMB Resources Inc., a Delaware corporation (RMBR) whereby Solitario may borrow up to $5,000,000 from RMBAH (with any amounts outstanding collectively being the RMB Loan) at any time during the 24 month period commencing on August 21, 2012, (the Availability Period), after which time any undrawn portion of the $5,000,000 commitment will be cancelled and will no longer be available for drawdown. In connection with the Facility Agreement, Solitario recorded a warrant discount related to the RMB warrants issued at the time Solitario entered into the Facility Agreement. The warrant discount is being amortized on a straight-line basis to interest cost over 36 months, the term of the Facility Agreement. The RMB Loan amounts bear interest at the 90-day LIBOR rate plus 5%, payable in arrears on the last day of each quarterly interest period. The RMB Loan interest rate was 5.28% at March 31, 2013. The RMB Loan may be repaid at any time without penalty. Any amounts repaid may not be redrawn under the Facility Agreement. The RMB Loan is secured by a lien on Solitarios 80% interest in MH-LLC as well as a general security interest in Solitarios remaining assets.   The following table summarizes the RMB Loan: <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="vertical-align: bottom; width: 64%; layout-grid-mode: line; text-align: justify"> </td> <td style="vertical-align: bottom; width: 12%; layout-grid-mode: line; text-align: center">RMB</td> <td style="vertical-align: top; width: 12%; layout-grid-mode: line; text-align: center">RMB</td> <td style="vertical-align: top; width: 12%; layout-grid-mode: line; text-align: center">RMB</td></tr> <tr> <td style="vertical-align: bottom; layout-grid-mode: line; text-align: justify">  (in thousands)</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; layout-grid-mode: line; text-align: center">Loan borrowing</td> <td style="vertical-align: top; border-bottom: windowtext 1pt solid; layout-grid-mode: line; text-align: center">Warrant discount</td> <td style="vertical-align: top; border-bottom: windowtext 1pt solid"> Long-term Debt</td></tr> <tr> <td style="vertical-align: bottom; layout-grid-mode: line">      Beginning balance December 31, 2012</td> <td style="vertical-align: bottom; padding-right: 6pt; layout-grid-mode: line; text-align: right">$ 1,500 </td> <td style="vertical-align: top; padding-right: 6pt; layout-grid-mode: line; text-align: right">$(573)</td> <td style="vertical-align: top; padding-right: 6pt; layout-grid-mode: line; text-align: right">$927 </td></tr> <tr> <td style="vertical-align: bottom; layout-grid-mode: line">        Borrowing</td> <td style="vertical-align: bottom; padding-right: 6pt; layout-grid-mode: line; text-align: right">1,000 </td> <td style="vertical-align: top; padding-right: 6pt; layout-grid-mode: line; text-align: right"> </td> <td style="vertical-align: top; padding-right: 6pt; layout-grid-mode: line; text-align: right">1,000 </td></tr> <tr> <td style="vertical-align: bottom; layout-grid-mode: line">        Amortization of discount to interest cost</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 6pt; layout-grid-mode: line; text-align: right"> -     </td> <td style="vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 6pt; layout-grid-mode: line; text-align: right">54 </td> <td style="vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 6pt; layout-grid-mode: line; text-align: right">54 </td></tr> <tr> <td style="vertical-align: bottom; layout-grid-mode: line">      Ending balance March 31, 2013</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 6pt; layout-grid-mode: line; text-align: right">$2,500 </td> <td style="vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 6pt; layout-grid-mode: line; text-align: right">$(519)</td> <td style="vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 6pt; layout-grid-mode: line; text-align: right">1,981 </td></tr> </table>   Solitario recorded the following interest cost related to the RMB Loan: <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 82%; padding-right: 0.55in; padding-left: 5.4pt; layout-grid-mode: line">(in thousands)</td> <td style="width: 18%; padding-right: 0.05in; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">Three months ended March 31,</td></tr> <tr> <td style="vertical-align: top; padding-right: 0.55in; padding-left: 5.4pt; layout-grid-mode: line"> </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 0.05in; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">2013</td></tr> <tr> <td style="vertical-align: top; padding-right: 0.55in; padding-left: 5.4pt; layout-grid-mode: line">Interest paid in cash</td> <td style="vertical-align: bottom; padding-right: 0.05in; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$ 27 </td></tr> <tr> <td style="vertical-align: top; padding-right: 0.55in; padding-left: 5.4pt; layout-grid-mode: line">Amortization of the RMB Warrants discount</td> <td style="vertical-align: bottom; padding-right: 0.05in; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">54 </td></tr> <tr> <td style="vertical-align: top; padding-right: 0.55in; padding-left: 5.4pt; layout-grid-mode: line">Amortization of RMB deferred financing costs</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 0.05in; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">  49 </td></tr> <tr> <td style="vertical-align: top; padding-right: 0.55in; padding-left: 5.4pt; layout-grid-mode: line">  Total interest expense related to the RMB Loan</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 0.05in; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$130 </td></tr> </table>   During the three months ended March 31, 2013, Solitario capitalized all of its interest to mineral property. See Note 2, Mineral property, above.

<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse"> <tr> <td style="vertical-align: bottom; width: 74%; padding-right: 5.4pt; padding-left: 5.4pt"> (in thousands) Payment date</td> <td style="vertical-align: top; width: 13%; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"> March 31, 2013</td> <td style="vertical-align: top; width: 13%; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"> December31, 2012</td></tr> <tr style="vertical-align: bottom"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">June 1, 2013</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">750 </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">750 </td></tr> <tr style="vertical-align: bottom"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">June 1, 2014</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">750 </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">750 </td></tr> <tr style="vertical-align: bottom"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">June 1, 2015</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">1,000 </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">1,000 </td></tr> <tr style="vertical-align: bottom"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">Unamortized discount</td> <td style="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">  (221)</td> <td style="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"> (264)</td></tr> <tr style="vertical-align: bottom"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">Total</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">2,279 </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">2,236 </td></tr> <tr style="vertical-align: bottom"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">Current portion</td> <td style="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">741 </td> <td style="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">  727 </td></tr> <tr style="vertical-align: bottom"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">Long-term debt</td> <td style="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$1,538 </td> <td style="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$1,509 </td></tr> </table> <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="vertical-align: bottom; width: 64%; layout-grid-mode: line; text-align: justify"> </td> <td style="vertical-align: bottom; width: 12%; layout-grid-mode: line; text-align: center">RMB</td> <td style="vertical-align: top; width: 12%; layout-grid-mode: line; text-align: center">RMB</td> <td style="vertical-align: top; width: 12%; layout-grid-mode: line; text-align: center">RMB</td></tr> <tr> <td style="vertical-align: bottom; layout-grid-mode: line; text-align: justify">  (in thousands)</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; layout-grid-mode: line; text-align: center">Loan borrowing</td> <td style="vertical-align: top; border-bottom: windowtext 1pt solid; layout-grid-mode: line; text-align: center">Warrant discount</td> <td style="vertical-align: top; border-bottom: windowtext 1pt solid"> Long-term Debt</td></tr> <tr> <td style="vertical-align: bottom; layout-grid-mode: line">      Beginning balance December 31, 2012</td> <td style="vertical-align: bottom; padding-right: 6pt; layout-grid-mode: line; text-align: right">$ 1,500 </td> <td style="vertical-align: top; padding-right: 6pt; layout-grid-mode: line; text-align: right">$(573)</td> <td style="vertical-align: top; padding-right: 6pt; layout-grid-mode: line; text-align: right">$927 </td></tr> <tr> <td style="vertical-align: bottom; layout-grid-mode: line">        Borrowing</td> <td style="vertical-align: bottom; padding-right: 6pt; layout-grid-mode: line; text-align: right">1,000 </td> <td style="vertical-align: top; padding-right: 6pt; layout-grid-mode: line; text-align: right"> </td> <td style="vertical-align: top; padding-right: 6pt; layout-grid-mode: line; text-align: right">1,000 </td></tr> <tr> <td style="vertical-align: bottom; layout-grid-mode: line">        Amortization of discount to interest cost</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 6pt; layout-grid-mode: line; text-align: right"> -     </td> <td style="vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 6pt; layout-grid-mode: line; text-align: right">54 </td> <td style="vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 6pt; layout-grid-mode: line; text-align: right">54 </td></tr> <tr> <td style="vertical-align: bottom; layout-grid-mode: line">      Ending balance March 31, 2013</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 6pt; layout-grid-mode: line; text-align: right">$2,500 </td> <td style="vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 6pt; layout-grid-mode: line; text-align: right">$(519)</td> <td style="vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 6pt; layout-grid-mode: line; text-align: right">1,981 </td></tr> </table> <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 82%; padding-right: 0.55in; padding-left: 5.4pt; layout-grid-mode: line">(in thousands)</td> <td style="width: 18%; padding-right: 0.05in; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">Three months ended March 31,</td></tr> <tr> <td style="vertical-align: top; padding-right: 0.55in; padding-left: 5.4pt; layout-grid-mode: line"> </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 0.05in; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">2013</td></tr> <tr> <td style="vertical-align: top; padding-right: 0.55in; padding-left: 5.4pt; layout-grid-mode: line">Interest paid in cash</td> <td style="vertical-align: bottom; padding-right: 0.05in; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$ 27 </td></tr> <tr> <td style="vertical-align: top; padding-right: 0.55in; padding-left: 5.4pt; layout-grid-mode: line">Amortization of the RMB Warrants discount</td> <td style="vertical-align: bottom; padding-right: 0.05in; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">54 </td></tr> <tr> <td style="vertical-align: top; padding-right: 0.55in; padding-left: 5.4pt; layout-grid-mode: line">Amortization of RMB deferred financing costs</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 0.05in; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">  49 </td></tr> <tr> <td style="vertical-align: top; padding-right: 0.55in; padding-left: 5.4pt; layout-grid-mode: line">  Total interest expense related to the RMB Loan</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 0.05in; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$130 </td></tr> </table> 750 750 750 750 1000 1000 -221 -264 2279 2236 741 727 1538 1509 1500000 -573000 927000 1000000 1000000 54000 54000 2500000 -519000 1981000 27000 54000 49000 130000 42000 53000 5000000 0.0528

6.        Derivative instruments   RMB Warrants             In August 2012, pursuant to the Facility Agreement, the Company issued 1,624,748 warrants to RMBAH as partial consideration for financing services provided in connection with the Facility Agreement. Each RMB Warrant entitles the holder to purchase one of Solitario common stock pursuant to the terms and conditions of the RMB Warrants. The RMB Warrants expire 36 months from their date of issuance and have an exercise price of $1.5387 per Warrant Share, subject to customary anti-dilution adjustments. Solitario has recorded a liability as of March 31, 2013 and December 31, 2012 of $1,039,000 and $1,138,000, respectively, for the fair value of the RMB Warrants based upon a Black-Scholes model. Solitario adjusts the fair value of the warrants at each balance sheet date, with changes in value recorded in other income (loss) in the statement of operations. Solitario recorded a gain on the RMB Warrants of $99,000 during the three months ended March 31, 2013 based upon a Black-Scholes model as of March 31, 2013 using a 29 month-life, a volatility of 65% a stock price of $1.60 per share and a risk free interest rate of 0.29%.   Ely Warrants             In connection with the equity investment in Ely during 2010, Solitario acquired warrants to purchase 1,666,666 shares of Ely common stock at Cdn$0.25 per share for a period of two years. The warrants expired unexercised during 2012. Solitario recorded an unrealized gain on derivative instrument of $66,000 in the statement of operations for a net gain related to the Ely warrants for the three months ended March 31, 2012.   Covered Call Options             From time to time Solitario has sold covered call options against its holdings of Kinross. The business purpose of selling covered calls is to provide additional income on a limited portion of shares of Kinross that Solitario may sell in the near term, which is generally defined as less than one year. At December 31, 2012 Solitario had sold options covering 50,000 shares of Kinross, recorded as a $3,000 current liability, which expired unexercised in February 2013. Solitario recorded a gain of $3,000 on these covered call options during the three months ended March 31, 2013. As of March 31, 2013 Solitario has no outstanding covered call options. Solitario has not designated its covered calls as hedging instruments as described in ASC 815 and any changes in the fair value of its covered calls are recognized in the statement of operations in the period of the change.

3000 1624748 1039000 1138000 99000 1666666 66000 50000 3000

7.        Fair value             For certain of Solitarios financial instruments, including cash and cash equivalents, payables and short-term debt, the carrying amounts approximate fair value due to their short term maturities. Solitarios marketable equity securities are carried at their estimated fair value primarily based on quoted market prices. The long-term debt associated with MH-LLC is carried at its estimated fair value based upon the discounted present value of the payments using an estimated discount rate and RMB warrants are carried at their estimated fair value based on a Black-Scholes option pricing model.             Solitario accounts for its financial instruments under ASC 820, "Fair Value Measurements." ASC 820 establishes a framework for measuring fair value and requires enhanced disclosures about fair value measurements. ASC 820 clarifies that fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. ASC 820 also requires disclosure about how fair value is determined for assets and liabilities and establishes a hierarchy for which these assets and liabilities must be grouped, based on significant levels of inputs as follows:   <table cellpadding="0" cellspacing="0" style="width: 100%; font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">·</td><td style="padding-right: 0.55in">Level 1: quoted prices in active markets for identical assets or liabilities;</td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">·</td><td style="padding-right: 0.55in">Level 2: quoted prices in active markets for similar assets and liabilities and inputs that are observable for the asset or liability; or</td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">·</td><td style="padding-right: 0.55in">Level 3: Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions.</td></tr></table>            The determination of where assets and liabilities fall within this hierarchy is based upon the lowest level of input that is significant to the fair value measurement. During the three months ended March 31, 2013 and 2012 there were no reclassifications in financial assets or liabilities between Level 1, 2 or 3 categories.   The following is a listing of Solitarios financial assets and liabilities required to be measured at fair value on a recurring basis and where they are classified within the hierarchy as of March 31, 2013:   <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="width: 48%; layout-grid-mode: line; text-align: justify">(in thousands)</td> <td style="width: 13%; border-bottom: windowtext 1pt solid; padding-right: 6pt; layout-grid-mode: line; text-align: right">Level 1  </td> <td style="width: 14%; border-bottom: windowtext 1pt solid; padding-right: 8.25pt; layout-grid-mode: line; text-align: right">Level 2  </td> <td style="width: 13%; border-bottom: windowtext 1pt solid; padding-right: 3pt; layout-grid-mode: line; text-align: right">Level 3</td> <td style="width: 12%; border-bottom: windowtext 1pt solid; padding-right: 5.25pt; layout-grid-mode: line; text-align: right">Total  </td></tr> <tr style="vertical-align: bottom"> <td style="layout-grid-mode: line">Assets</td> <td style="padding-right: 6pt; font-size: 12pt; layout-grid-mode: line; text-align: right"> </td> <td style="padding-right: 8.25pt; font-size: 12pt; layout-grid-mode: line; text-align: right"> </td> <td style="padding-right: 3pt; font-size: 12pt; layout-grid-mode: line; text-align: right"> </td> <td style="padding-right: 5.25pt; font-size: 12pt; layout-grid-mode: line; text-align: right"> </td></tr> <tr style="vertical-align: bottom"> <td style="layout-grid-mode: line">  Marketable equity securities</td> <td style="padding-right: 6pt; layout-grid-mode: line; text-align: right">$5,683 </td> <td style="padding-right: 8.25pt; layout-grid-mode: line; text-align: right">$      -   </td> <td style="padding-right: 3pt; layout-grid-mode: line; text-align: right">$-   </td> <td style="padding-right: 5.25pt; layout-grid-mode: line; text-align: right">$5,683 </td></tr> <tr style="vertical-align: bottom"> <td style="layout-grid-mode: line">Liabilities</td> <td style="padding-right: 3pt; layout-grid-mode: line; text-align: right"> </td> <td style="padding-right: 8.25pt; layout-grid-mode: line; text-align: right"> </td> <td style="padding-right: 3pt; layout-grid-mode: line; text-align: right"> </td> <td style="padding-right: 3pt; layout-grid-mode: line; text-align: right"> </td></tr> <tr style="vertical-align: bottom"> <td style="layout-grid-mode: line">  RMB warrants</td> <td style="padding-right: 6pt; layout-grid-mode: line; text-align: right">-   </td> <td style="padding-right: 8.25pt; layout-grid-mode: line; text-align: right">1,039 </td> <td style="padding-right: 3pt; layout-grid-mode: line; text-align: right">-   </td> <td style="padding-right: 5.25pt; layout-grid-mode: line; text-align: right">1,039 </td></tr> </table>   The following is a listing of Solitarios financial assets and liabilities required to be measured at fair value on a recurring basis and where they are classified within the hierarchy as of December 31, 2012:   <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="width: 48%; layout-grid-mode: line; text-align: justify">(in thousands)</td> <td style="width: 13%; border-bottom: windowtext 1pt solid; padding-right: 6pt; layout-grid-mode: line; text-align: right">Level 1  </td> <td style="width: 14%; border-bottom: windowtext 1pt solid; padding-right: 8.25pt; layout-grid-mode: line; text-align: right">Level 2  </td> <td style="width: 13%; border-bottom: windowtext 1pt solid; padding-right: 3pt; layout-grid-mode: line; text-align: right">Level 3</td> <td style="width: 12%; border-bottom: windowtext 1pt solid; padding-right: 5.25pt; layout-grid-mode: line; text-align: right">Total  </td></tr> <tr style="vertical-align: bottom"> <td style="layout-grid-mode: line">Assets</td> <td style="padding-right: 6pt; font-size: 12pt; layout-grid-mode: line; text-align: right"> </td> <td style="padding-right: 8.25pt; font-size: 12pt; layout-grid-mode: line; text-align: right"> </td> <td style="padding-right: 3pt; font-size: 12pt; layout-grid-mode: line; text-align: right"> </td> <td style="padding-right: 5.25pt; font-size: 12pt; layout-grid-mode: line; text-align: right"> </td></tr> <tr style="vertical-align: bottom"> <td style="layout-grid-mode: line">  Marketable equity securities</td> <td style="padding-right: 6pt; layout-grid-mode: line; text-align: right">$7,093 </td> <td style="padding-right: 8.25pt; layout-grid-mode: line; text-align: right">$      -   </td> <td style="padding-right: 3pt; layout-grid-mode: line; text-align: right">$-   </td> <td style="padding-right: 5.25pt; layout-grid-mode: line; text-align: right">$7,093 </td></tr> <tr style="vertical-align: bottom"> <td style="layout-grid-mode: line">Liabilities</td> <td style="padding-right: 3pt; layout-grid-mode: line; text-align: right"> </td> <td style="padding-right: 8.25pt; layout-grid-mode: line; text-align: right"> </td> <td style="padding-right: 3pt; layout-grid-mode: line; text-align: right"> </td> <td style="padding-right: 3pt; layout-grid-mode: line; text-align: right"> </td></tr> <tr style="vertical-align: bottom"> <td style="layout-grid-mode: line">  RMB warrants</td> <td style="padding-right: 6pt; layout-grid-mode: line; text-align: right">-   </td> <td style="padding-right: 8.25pt; layout-grid-mode: line; text-align: right">1,138 </td> <td style="padding-right: 3pt; layout-grid-mode: line; text-align: right">-   </td> <td style="padding-right: 5.25pt; layout-grid-mode: line; text-align: right">1,138 </td></tr> </table>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="width: 48%; layout-grid-mode: line; text-align: justify">(in thousands)</td> <td style="width: 13%; border-bottom: windowtext 1pt solid; padding-right: 6pt; layout-grid-mode: line; text-align: right">Level 1  </td> <td style="width: 14%; border-bottom: windowtext 1pt solid; padding-right: 8.25pt; layout-grid-mode: line; text-align: right">Level 2  </td> <td style="width: 13%; border-bottom: windowtext 1pt solid; padding-right: 3pt; layout-grid-mode: line; text-align: right">Level 3</td> <td style="width: 12%; border-bottom: windowtext 1pt solid; padding-right: 5.25pt; layout-grid-mode: line; text-align: right">Total  </td></tr> <tr style="vertical-align: bottom"> <td style="layout-grid-mode: line">Assets</td> <td style="padding-right: 6pt; font-size: 12pt; layout-grid-mode: line; text-align: right"> </td> <td style="padding-right: 8.25pt; font-size: 12pt; layout-grid-mode: line; text-align: right"> </td> <td style="padding-right: 3pt; font-size: 12pt; layout-grid-mode: line; text-align: right"> </td> <td style="padding-right: 5.25pt; font-size: 12pt; layout-grid-mode: line; text-align: right"> </td></tr> <tr style="vertical-align: bottom"> <td style="layout-grid-mode: line">  Marketable equity securities</td> <td style="padding-right: 6pt; layout-grid-mode: line; text-align: right">$5,683 </td> <td style="padding-right: 8.25pt; layout-grid-mode: line; text-align: right">$      -   </td> <td style="padding-right: 3pt; layout-grid-mode: line; text-align: right">$-   </td> <td style="padding-right: 5.25pt; layout-grid-mode: line; text-align: right">$5,683 </td></tr> <tr style="vertical-align: bottom"> <td style="layout-grid-mode: line">Liabilities</td> <td style="padding-right: 3pt; layout-grid-mode: line; text-align: right"> </td> <td style="padding-right: 8.25pt; layout-grid-mode: line; text-align: right"> </td> <td style="padding-right: 3pt; layout-grid-mode: line; text-align: right"> </td> <td style="padding-right: 3pt; layout-grid-mode: line; text-align: right"> </td></tr> <tr style="vertical-align: bottom"> <td style="layout-grid-mode: line">  RMB warrants</td> <td style="padding-right: 6pt; layout-grid-mode: line; text-align: right">-   </td> <td style="padding-right: 8.25pt; layout-grid-mode: line; text-align: right">1,039 </td> <td style="padding-right: 3pt; layout-grid-mode: line; text-align: right">-   </td> <td style="padding-right: 5.25pt; layout-grid-mode: line; text-align: right">1,039 </td></tr> </table> <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="width: 48%; layout-grid-mode: line; text-align: justify">(in thousands)</td> <td style="width: 13%; border-bottom: windowtext 1pt solid; padding-right: 6pt; layout-grid-mode: line; text-align: right">Level 1  </td> <td style="width: 14%; border-bottom: windowtext 1pt solid; padding-right: 8.25pt; layout-grid-mode: line; text-align: right">Level 2  </td> <td style="width: 13%; border-bottom: windowtext 1pt solid; padding-right: 3pt; layout-grid-mode: line; text-align: right">Level 3</td> <td style="width: 12%; border-bottom: windowtext 1pt solid; padding-right: 5.25pt; layout-grid-mode: line; text-align: right">Total  </td></tr> <tr style="vertical-align: bottom"> <td style="layout-grid-mode: line">Assets</td> <td style="padding-right: 6pt; font-size: 12pt; layout-grid-mode: line; text-align: right"> </td> <td style="padding-right: 8.25pt; font-size: 12pt; layout-grid-mode: line; text-align: right"> </td> <td style="padding-right: 3pt; font-size: 12pt; layout-grid-mode: line; text-align: right"> </td> <td style="padding-right: 5.25pt; font-size: 12pt; layout-grid-mode: line; text-align: right"> </td></tr> <tr style="vertical-align: bottom"> <td style="layout-grid-mode: line">  Marketable equity securities</td> <td style="padding-right: 6pt; layout-grid-mode: line; text-align: right">$7,093 </td> <td style="padding-right: 8.25pt; layout-grid-mode: line; text-align: right">$      -   </td> <td style="padding-right: 3pt; layout-grid-mode: line; text-align: right">$-   </td> <td style="padding-right: 5.25pt; layout-grid-mode: line; text-align: right">$7,093 </td></tr> <tr style="vertical-align: bottom"> <td style="layout-grid-mode: line">Liabilities</td> <td style="padding-right: 3pt; layout-grid-mode: line; text-align: right"> </td> <td style="padding-right: 8.25pt; layout-grid-mode: line; text-align: right"> </td> <td style="padding-right: 3pt; layout-grid-mode: line; text-align: right"> </td> <td style="padding-right: 3pt; layout-grid-mode: line; text-align: right"> </td></tr> <tr style="vertical-align: bottom"> <td style="layout-grid-mode: line">  RMB warrants</td> <td style="padding-right: 6pt; layout-grid-mode: line; text-align: right">-   </td> <td style="padding-right: 8.25pt; layout-grid-mode: line; text-align: right">1,138 </td> <td style="padding-right: 3pt; layout-grid-mode: line; text-align: right">-   </td> <td style="padding-right: 5.25pt; layout-grid-mode: line; text-align: right">1,138 </td></tr> </table> 5683000 7093000 5683 7093 1039000 1138000 1039000 1138000

8.        Income Taxes             Solitario accounts for income taxes in accordance with ASC 740, Accounting for Income Taxes. Under ASC 740, income taxes are provided for the tax effects of transactions reported in the financial statements and consist of taxes currently due plus deferred taxes related to certain income and expenses recognized in different periods for financial and income tax reporting purposes. Deferred tax assets and liabilities represent the future tax return consequences of those differences, which will either be taxable or deductible when the assets and liabilities are recovered or settled. Deferred taxes are also recognized for operating losses and tax credits that are available to offset future taxable income and income taxes, respectively. A valuation allowance is provided if it is more likely than not that some portion or all of the deferred tax assets will not be realized.             Primarily as a result of the built-in-gain in the value of Solitario's holdings of Kinross common stock recognized as other comprehensive income, Solitario estimated that its deferred tax liabilities exceeded its realizable deferred tax assets by $256,000 and $963,000 at March 31, 2013 and December 31, 2012.             During the first quarter of 2013, Solitario recorded a $169,000 deferred tax benefit in the statement of operations and recorded a deferred tax benefit of $526,000 to other comprehensive income related to net unrealized losses of $1,410,000 on marketable equity securities. During the first quarter of 2012, Solitario recorded a $109,000 deferred tax benefit in the statement of operations and recorded a deferred tax benefit of $529,000 to other comprehensive income related to net unrealized losses of $1,418,000 on marketable equity securities.

256000 963000 169000 109000 526000 529000 1410000 1418000 9.        Shareholders Equity, comprehensive loss and noncontrolling interest   <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="vertical-align: top; width: 33%; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Courier New, Courier, Monospace">(in thousands, except</td> <td style="vertical-align: bottom; width: 8%; padding-right: -5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center"> </td> <td style="vertical-align: bottom; width: 8%; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center"> </td> <td style="vertical-align: bottom; width: 7%; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center"> </td> <td style="vertical-align: bottom; width: 8%; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center"> </td> <td style="vertical-align: bottom; width: 10%; padding-right: -5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">Accumulated</td> <td style="vertical-align: bottom; width: 9%; padding-right: 2.2pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">Total</td> <td style="vertical-align: bottom; width: 8%; padding-right: -5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center"> </td> <td style="vertical-align: bottom; width: 9%; padding-right: -5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center"> </td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">Share amounts)</td> <td style="vertical-align: bottom; padding-right: -5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">Common</td> <td style="vertical-align: bottom; padding-right: -5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">Common</td> <td style="vertical-align: bottom; padding-right: -5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center; text-indent: -5.4pt">Additional</td> <td style="vertical-align: bottom; padding-right: -5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center"> </td> <td style="vertical-align: bottom; padding-right: -5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">Other</td> <td style="vertical-align: bottom; padding-right: 2.2pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">Solitario</td> <td style="vertical-align: bottom; padding-right: -5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">Non-</td> <td style="vertical-align: bottom; padding-right: -5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">Total</td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line"> </td> <td style="vertical-align: bottom; padding-right: -5.4pt; padding-left: 5.4pt; text-align: center; font-family: CG Times (W1)">Stock</td> <td style="vertical-align: bottom; padding-right: -5.4pt; padding-left: 5.4pt; text-align: center; font-family: CG Times (W1)">Stock</td> <td style="vertical-align: bottom; padding-right: -5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center; text-indent: -5.4pt">Paid-in</td> <td style="vertical-align: bottom; padding-right: -5.4pt; padding-left: 5.4pt; text-align: center; font-family: CG Times (W1)">Accumulated</td> <td style="vertical-align: bottom; padding-right: -5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">Comprehensive</td> <td style="vertical-align: bottom; padding-right: -5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">Shareholder</td> <td style="vertical-align: bottom; padding-right: -5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">Controlling</td> <td style="vertical-align: bottom; padding-right: -5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">Shareholders</td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line"> </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">Shares</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">Amount</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center; text-indent: -5.4pt">Capital</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">Deficit</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">Income</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 2.2pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">Equity</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">Interest</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">Equity</td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">Balance at December 31, 2012 </td> <td style="vertical-align: bottom; padding-right: -1.45pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">34,479,958</td> <td style="vertical-align: bottom; padding-right: -1.3pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$345 </td> <td style="vertical-align: bottom; padding-right: -5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$47,107 </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$(42,678)</td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$3,914 </td> <td style="vertical-align: bottom; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$8,688 </td> <td style="vertical-align: bottom; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$529 </td> <td style="vertical-align: bottom; padding-right: -2.3pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$9,217 </td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line"> </td> <td style="vertical-align: bottom; padding-right: -1.45pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"> </td> <td style="vertical-align: bottom; padding-right: -1.3pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"> </td> <td style="vertical-align: bottom; padding-right: -5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"> </td> <td style="vertical-align: bottom; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"> </td> <td style="vertical-align: bottom; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"> </td> <td style="vertical-align: bottom; padding-right: -2.3pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"> </td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">Exercise of stock options for cash</td> <td style="vertical-align: bottom; padding-right: -1.45pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">117,500</td> <td style="vertical-align: bottom; padding-right: -1.45pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">1 </td> <td style="vertical-align: bottom; padding-right: -5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">182 </td> <td style="vertical-align: bottom; padding-right: -1.45pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"> </td> <td style="vertical-align: bottom; padding-right: -1.45pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"> </td> <td style="vertical-align: bottom; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">183 </td> <td style="vertical-align: bottom; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"> </td> <td style="vertical-align: bottom; padding-right: -2.3pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">183 </td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">Issuance of shares to noncontrolling   shareholder for future earn-in</td> <td style="vertical-align: bottom; padding-right: -1.45pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">50,000</td> <td style="vertical-align: bottom; padding-right: -1.45pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">-   </td> <td style="vertical-align: bottom; padding-right: -5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">77 </td> <td style="vertical-align: bottom; padding-right: -1.45pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">-   </td> <td style="vertical-align: bottom; padding-right: -1.45pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">-   </td> <td style="vertical-align: bottom; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">77 </td> <td style="vertical-align: bottom; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">(77) </td> <td style="vertical-align: bottom; padding-right: -2.3pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">-   </td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">Issuance of cash to noncontrolling   shareholder for future earn-in</td> <td style="vertical-align: bottom; padding-right: -1.45pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">-   </td> <td style="vertical-align: bottom; padding-right: -1.45pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">-   </td> <td style="vertical-align: bottom; padding-right: -5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">-   </td> <td style="vertical-align: bottom; padding-right: -1.45pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">-   </td> <td style="vertical-align: bottom; padding-right: -1.45pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">-   </td> <td style="vertical-align: bottom; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">-   </td> <td style="vertical-align: bottom; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">(250)</td> <td style="vertical-align: bottom; padding-right: -2.3pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">(250)</td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">Stock option expense</td> <td style="vertical-align: bottom; padding-right: -1.45pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">-   </td> <td style="vertical-align: bottom; padding-right: -1.45pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">-   </td> <td style="vertical-align: bottom; padding-right: -5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">125 </td> <td style="vertical-align: bottom; padding-right: -1.45pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">-   </td> <td style="vertical-align: bottom; padding-right: -1.45pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">-   </td> <td style="vertical-align: bottom; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">125 </td> <td style="vertical-align: bottom; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">-   </td> <td style="vertical-align: bottom; padding-right: -2.3pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">125 </td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">Net loss </td> <td style="vertical-align: bottom; padding-right: -1.45pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">-   </td> <td style="vertical-align: bottom; padding-right: -1.45pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">-   </td> <td style="vertical-align: bottom; padding-right: -5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">-   </td> <td style="vertical-align: bottom; padding-right: -1.45pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">(991)</td> <td style="vertical-align: bottom; padding-right: -1.45pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">-   </td> <td style="vertical-align: bottom; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">(991)</td> <td style="vertical-align: bottom; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">(3)</td> <td style="vertical-align: bottom; padding-right: -2.3pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">(994)</td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">Net unrealized loss on marketable   equity securities </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -1.45pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">-   </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -1.45pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">-   </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">-   </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -1.45pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">-   </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -1.45pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">(884)</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">(884)</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">   -   </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -2.3pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">(884)</td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">Balance at March 31, 2013 </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -1.45pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">34,647,458</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -1.3pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$346</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$47,491</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$(43,669)</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$3,030</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$7,198 </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$199 </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -2.3pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$7,397 </td></tr> </table>             During the three months ended March 31, 2013, Solitario paid DHI Minerals (US), Ltd. (DHI) $250,000 in cash and delivered 50,000 shares of Solitario common stock to DHI, in accordance with the terms of the letter of intent between Solitario, DHI and Ely Gold and Minerals Inc. See Note 10, Ely Gold investment and the Mt. Hamilton joint venture to the consolidated financial statements included in Solitarios Annual Report on Form 10-K for the year ended December 31, 2012.   <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="vertical-align: top; width: 33%; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Courier New, Courier, Monospace">(in thousands, except</td> <td style="vertical-align: bottom; width: 8%; padding-right: -5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center"> </td> <td style="vertical-align: bottom; width: 8%; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center"> </td> <td style="vertical-align: bottom; width: 7%; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center"> </td> <td style="vertical-align: bottom; width: 8%; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center"> </td> <td style="vertical-align: bottom; width: 10%; padding-right: -5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">Accumulated</td> <td style="vertical-align: bottom; width: 9%; padding-right: 2.2pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">Total</td> <td style="vertical-align: bottom; width: 8%; padding-right: -5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center"> </td> <td style="vertical-align: bottom; width: 9%; padding-right: -5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center"> </td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">Share amounts)</td> <td style="vertical-align: bottom; padding-right: -5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">Common</td> <td style="vertical-align: bottom; padding-right: -5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">Common</td> <td style="vertical-align: bottom; padding-right: -5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center; text-indent: -5.4pt">Additional</td> <td style="vertical-align: bottom; padding-right: -5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center"> </td> <td style="vertical-align: bottom; padding-right: -5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">Other</td> <td style="vertical-align: bottom; padding-right: 2.2pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">Solitario</td> <td style="vertical-align: bottom; padding-right: -5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">Non-</td> <td style="vertical-align: bottom; padding-right: -5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">Total</td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line"> </td> <td style="vertical-align: bottom; padding-right: -5.4pt; padding-left: 5.4pt; text-align: center; font-family: CG Times (W1)">Stock</td> <td style="vertical-align: bottom; padding-right: -5.4pt; padding-left: 5.4pt; text-align: center; font-family: CG Times (W1)">Stock</td> <td style="vertical-align: bottom; padding-right: -5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center; text-indent: -5.4pt">Paid-in</td> <td style="vertical-align: bottom; padding-right: -5.4pt; padding-left: 5.4pt; text-align: center; font-family: CG Times (W1)">Accumulated</td> <td style="vertical-align: bottom; padding-right: -5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">Comprehensive</td> <td style="vertical-align: bottom; padding-right: -5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">Shareholder</td> <td style="vertical-align: bottom; padding-right: -5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">Controlling</td> <td style="vertical-align: bottom; padding-right: -5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">Shareholders</td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line"> </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">Shares</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">Amount</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center; text-indent: -5.4pt">Capital</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">Deficit</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">Income</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 2.2pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">Equity</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">Interest</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">Equity</td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">Balance at December 31, 2012 </td> <td style="vertical-align: bottom; padding-right: -1.45pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">34,479,958</td> <td style="vertical-align: bottom; padding-right: -1.3pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$345 </td> <td style="vertical-align: bottom; padding-right: -5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$47,107 </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$(42,678)</td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$3,914 </td> <td style="vertical-align: bottom; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$8,688 </td> <td style="vertical-align: bottom; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$529 </td> <td style="vertical-align: bottom; padding-right: -2.3pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$9,217 </td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line"> </td> <td style="vertical-align: bottom; padding-right: -1.45pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"> </td> <td style="vertical-align: bottom; padding-right: -1.3pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"> </td> <td style="vertical-align: bottom; padding-right: -5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"> </td> <td style="vertical-align: bottom; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"> </td> <td style="vertical-align: bottom; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"> </td> <td style="vertical-align: bottom; padding-right: -2.3pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"> </td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">Exercise of stock options for cash</td> <td style="vertical-align: bottom; padding-right: -1.45pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">117,500</td> <td style="vertical-align: bottom; padding-right: -1.45pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">1 </td> <td style="vertical-align: bottom; padding-right: -5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">182 </td> <td style="vertical-align: bottom; padding-right: -1.45pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"> </td> <td style="vertical-align: bottom; padding-right: -1.45pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"> </td> <td style="vertical-align: bottom; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">183 </td> <td style="vertical-align: bottom; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"> </td> <td style="vertical-align: bottom; padding-right: -2.3pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">183 </td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">Issuance of shares to noncontrolling   shareholder for future earn-in</td> <td style="vertical-align: bottom; padding-right: -1.45pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">50,000</td> <td style="vertical-align: bottom; padding-right: -1.45pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">-   </td> <td style="vertical-align: bottom; padding-right: -5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">77 </td> <td style="vertical-align: bottom; padding-right: -1.45pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">-   </td> <td style="vertical-align: bottom; padding-right: -1.45pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">-   </td> <td style="vertical-align: bottom; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">77 </td> <td style="vertical-align: bottom; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">(77) </td> <td style="vertical-align: bottom; padding-right: -2.3pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">-   </td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">Issuance of cash to noncontrolling   shareholder for future earn-in</td> <td style="vertical-align: bottom; padding-right: -1.45pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">-   </td> <td style="vertical-align: bottom; padding-right: -1.45pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">-   </td> <td style="vertical-align: bottom; padding-right: -5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">-   </td> <td style="vertical-align: bottom; padding-right: -1.45pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">-   </td> <td style="vertical-align: bottom; padding-right: -1.45pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">-   </td> <td style="vertical-align: bottom; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">-   </td> <td style="vertical-align: bottom; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">(250)</td> <td style="vertical-align: bottom; padding-right: -2.3pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">(250)</td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">Stock option expense</td> <td style="vertical-align: bottom; padding-right: -1.45pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">-   </td> <td style="vertical-align: bottom; padding-right: -1.45pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">-   </td> <td style="vertical-align: bottom; padding-right: -5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">125 </td> <td style="vertical-align: bottom; padding-right: -1.45pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">-   </td> <td style="vertical-align: bottom; padding-right: -1.45pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">-   </td> <td style="vertical-align: bottom; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">125 </td> <td style="vertical-align: bottom; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">-   </td> <td style="vertical-align: bottom; padding-right: -2.3pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">125 </td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">Net loss </td> <td style="vertical-align: bottom; padding-right: -1.45pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">-   </td> <td style="vertical-align: bottom; padding-right: -1.45pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">-   </td> <td style="vertical-align: bottom; padding-right: -5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">-   </td> <td style="vertical-align: bottom; padding-right: -1.45pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">(991)</td> <td style="vertical-align: bottom; padding-right: -1.45pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">-   </td> <td style="vertical-align: bottom; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">(991)</td> <td style="vertical-align: bottom; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">(3)</td> <td style="vertical-align: bottom; padding-right: -2.3pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">(994)</td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">Net unrealized loss on marketable   equity securities </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -1.45pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">-   </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -1.45pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">-   </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">-   </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -1.45pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">-   </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -1.45pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">(884)</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">(884)</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">   -   </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -2.3pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">(884)</td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">Balance at March 31, 2013 </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -1.45pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">34,647,458</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -1.3pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$346</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$47,491</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$(43,669)</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$3,030</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$7,198 </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$199 </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -2.3pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$7,397 </td></tr> </table> 9217 345 47107 -42678 3914 8688 529

34479958

34647458

117500 183 1 182 183 77 77 -77 50000 -250 -250 125 125 125 -994 -991 -991 -3 -884 -884 -884 7397 346 47491 -43669 3030 7198 199 250000 50000 10.       Segment Reporting           Solitario operates in two segments, (i) mineral exploration and (ii) mining development and operations. Solitario is capitalizing Mt. Hamilton development and operations costs subsequent to February 22, 2012, as detailed above in Note 2, Mineral properties. The following summarizes Solitario segment activity for the three months ended March 31, 2013 and 2012:   <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="padding-right: -1.8pt; padding-left: 5.4pt; layout-grid-mode: line">(in thousands)</td> <td colspan="4" style="padding-right: -1.8pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">Three months ended March 31, 2013</td></tr> <tr> <td style="vertical-align: top; width: 43%; padding-right: 0.55in; padding-left: 5.4pt; layout-grid-mode: line"> </td> <td style="vertical-align: bottom; width: 13%; border-bottom: windowtext 1pt solid; padding-right: -5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">Mt Hamilton</td> <td style="vertical-align: bottom; width: 16%; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">Exploration</td> <td style="vertical-align: bottom; width: 14%; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">Corporate and Other</td> <td style="vertical-align: bottom; width: 14%; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">Consolidated</td></tr> <tr> <td style="vertical-align: top; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line">Exploration expense</td> <td style="vertical-align: bottom; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$   -  </td> <td style="vertical-align: bottom; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$362 </td> <td style="vertical-align: bottom; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$   -   </td> <td style="vertical-align: bottom; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"> $   362 </td></tr> <tr> <td style="vertical-align: top; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line">Interest expense (2)</td> <td style="vertical-align: bottom; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">-  </td> <td style="vertical-align: bottom; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">-  </td> <td style="vertical-align: bottom; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">-  </td> <td style="vertical-align: bottom; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">-  </td></tr> <tr> <td style="vertical-align: top; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line">Other (1)</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">      7 </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">351 </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">443 </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">801 </td></tr> <tr> <td style="vertical-align: top; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line">Pre-tax loss</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">   $   7 </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$713 </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$  443 </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$1,163 </td></tr> <tr> <td style="vertical-align: top; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line">Total assets (3)(4)</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$14,236 </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$1,395 </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$6,351 </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$21,982 </td></tr> <tr> <td style="vertical-align: top; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line">Capital Expenditures (2)</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$   515 </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$     -    </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$     -    </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$     515 </td></tr> </table>   1. Exploration expense other includes loss on unconsolidated subsidiary of $313 2. Interest cost of $180 and depreciation of $8 have been capitalized to Mt. Hamilton mineral properties. 3. Exploration total assets include investment in unconsolidated subsidiary of $852. 4. Corporate and other total assets include investment in marketable equity securities of $5,683.   <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="padding-right: -1.8pt; padding-left: 5.4pt; layout-grid-mode: line">(in thousands)</td> <td colspan="4" style="padding-right: -1.8pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">Three months ended March 31, 2012</td></tr> <tr> <td style="vertical-align: top; width: 43%; padding-right: 0.55in; padding-left: 5.4pt; layout-grid-mode: line"> </td> <td style="vertical-align: bottom; width: 13%; border-bottom: windowtext 1pt solid; padding-right: -5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">Mt Hamilton</td> <td style="vertical-align: bottom; width: 16%; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">Exploration</td> <td style="vertical-align: bottom; width: 14%; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">Corporate and Other</td> <td style="vertical-align: bottom; width: 14%; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">Consolidated</td></tr> <tr> <td style="vertical-align: top; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line">Exploration expense</td> <td style="vertical-align: bottom; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$169 </td> <td style="vertical-align: bottom; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$355 </td> <td style="vertical-align: bottom; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$   -   </td> <td style="vertical-align: bottom; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"> $524 </td></tr> <tr> <td style="vertical-align: top; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line">Interest expense</td> <td style="vertical-align: bottom; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">53 </td> <td style="vertical-align: bottom; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">-  </td> <td style="vertical-align: bottom; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">15 </td> <td style="vertical-align: bottom; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">68 </td></tr> <tr> <td style="vertical-align: top; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line">Other (1)(3)</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">      12 </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">312 </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">55 </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">379 </td></tr> <tr> <td style="vertical-align: top; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line">Pre-tax loss</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">   $234 </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$667 </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$70 </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$971 </td></tr> <tr> <td style="vertical-align: top; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line">Total assets (2)(4)</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$9,277 </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$1,895 </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$9,295 </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$20,467 </td></tr> <tr> <td style="vertical-align: top; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line">Capital Expenditures</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$   355 </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$     -    </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$       9 </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$     364 </td></tr> </table>   1. Exploration expense other includes loss on unconsolidated subsidiary of $109 2. Exploration total assets include investment in unconsolidated subsidiary of $1,544. 3. Corporate and other includes gain on sale of marketable equity securities of $332 4. Corporate and other total assets include investment in marketable equity securities of $8,921   <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="padding-right: -1.8pt; padding-left: 5.4pt; layout-grid-mode: line">(in thousands)</td> <td colspan="4" style="padding-right: -1.8pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">Three months ended March 31, 2013</td></tr> <tr> <td style="vertical-align: top; width: 43%; padding-right: 0.55in; padding-left: 5.4pt; layout-grid-mode: line"> </td> <td style="vertical-align: bottom; width: 13%; border-bottom: windowtext 1pt solid; padding-right: -5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">Mt Hamilton</td> <td style="vertical-align: bottom; width: 16%; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">Exploration</td> <td style="vertical-align: bottom; width: 14%; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">Corporate and Other</td> <td style="vertical-align: bottom; width: 14%; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">Consolidated</td></tr> <tr> <td style="vertical-align: top; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line">Exploration expense</td> <td style="vertical-align: bottom; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$   -  </td> <td style="vertical-align: bottom; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$362 </td> <td style="vertical-align: bottom; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$   -   </td> <td style="vertical-align: bottom; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"> $   362 </td></tr> <tr> <td style="vertical-align: top; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line">Interest expense (2)</td> <td style="vertical-align: bottom; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">-  </td> <td style="vertical-align: bottom; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">-  </td> <td style="vertical-align: bottom; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">-  </td> <td style="vertical-align: bottom; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">-  </td></tr> <tr> <td style="vertical-align: top; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line">Other (1)</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">      7 </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">351 </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">443 </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">801 </td></tr> <tr> <td style="vertical-align: top; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line">Pre-tax loss</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">   $   7 </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$713 </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$  443 </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$1,163 </td></tr> <tr> <td style="vertical-align: top; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line">Total assets (3)(4)</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$14,236 </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$1,395 </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$6,351 </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$21,982 </td></tr> <tr> <td style="vertical-align: top; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line">Capital Expenditures (2)</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$   515 </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$     -    </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$     -    </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$     515 </td></tr> </table> <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="padding-right: -1.8pt; padding-left: 5.4pt; layout-grid-mode: line">(in thousands)</td> <td colspan="4" style="padding-right: -1.8pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">Three months ended March 31, 2012</td></tr> <tr> <td style="vertical-align: top; width: 43%; padding-right: 0.55in; padding-left: 5.4pt; layout-grid-mode: line"> </td> <td style="vertical-align: bottom; width: 13%; border-bottom: windowtext 1pt solid; padding-right: -5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">Mt Hamilton</td> <td style="vertical-align: bottom; width: 16%; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">Exploration</td> <td style="vertical-align: bottom; width: 14%; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">Corporate and Other</td> <td style="vertical-align: bottom; width: 14%; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">Consolidated</td></tr> <tr> <td style="vertical-align: top; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line">Exploration expense</td> <td style="vertical-align: bottom; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$169 </td> <td style="vertical-align: bottom; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$355 </td> <td style="vertical-align: bottom; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$   -   </td> <td style="vertical-align: bottom; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right"> $524 </td></tr> <tr> <td style="vertical-align: top; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line">Interest expense</td> <td style="vertical-align: bottom; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">53 </td> <td style="vertical-align: bottom; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">-  </td> <td style="vertical-align: bottom; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">15 </td> <td style="vertical-align: bottom; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">68 </td></tr> <tr> <td style="vertical-align: top; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line">Other (1)(3)</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">      12 </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">312 </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">55 </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">379 </td></tr> <tr> <td style="vertical-align: top; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line">Pre-tax loss</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">   $234 </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$667 </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$70 </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$971 </td></tr> <tr> <td style="vertical-align: top; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line">Total assets (2)(4)</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$9,277 </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$1,895 </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$9,295 </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$20,467 </td></tr> <tr> <td style="vertical-align: top; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line">Capital Expenditures</td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$   355 </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$     -    </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$       9 </td> <td style="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: -0.9pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: right">$     364 </td></tr> </table> 362 355 362 524 7 12 351 312 443 55 801 379 -7 -234 -713 -667 -443 -70 -1163 -971 14236 9277 1395 1895 6351 9295 21982 20467 515 355 515 364 169 53 15 68 9 313 109 180 8 852 1544 5683 8921 332

11.        Subsequent events             On April 22, 2013, Solitario entered into an agreement, (the Letter Agreement) between Solitario, Ely and DHI. The Letter Agreement modified certain terms and conditions of the letter of intent dated August 26, 2010 between Solitario, Ely and DHI, as amended, in the MH-LLC OA Side Agreement between Solitario Ely, DHI, RMBAH and RMBR dated August 21, 2012 (both agreements collectively the LOI, as amended). Under the Letter Agreement, Ely exercised its right to reduce Solitarios required subscription of $750,000 due on May 1, 2013 to $500,000, proceeds of which Ely is required to use to pay a portion of the $750,000 payment due on June 1, 2013 due to Augusta. See Note 5, Long-term debt above. Ely agreed to pay the remaining $250,000 of the payment due to Augusta from their funds. Concurrent with the Letter Agreement, Solitario delivered a subscription agreement, (the Subscription Agreement) to Ely for the subscription of 5,131,150 shares of Ely common stock at a price of Cdn$0.10 as of April 22, 2013. Solitario paid Ely $500,000 in cash and received the 5,131,150 shares of Ely common stock after Elys acceptance of the Subscription Agreement. The delivery and acceptance of the Subscription Agreement, and payment of the subscription price of $500,000, satisfied Solitarios obligations with respect to the June 1, 2013 payment due Augusta.             On April 24, 2013, Solitario borrowed an additional $1,000,000 on the RMB Loan and as of May 7, 2013, owes $3,500,000 on the RMB Loan.

750000 500000 750000 250000 5131150 500000 5131150 1000000 3500000 660000 3480000

EX-101.SCH 7 xpl-20130331.xsd XBRL SCHEMA FILE 0001 - Document - Document and Entity Information link:presentationLink link:calculationLink link:definitionLink 0002 - Statement - Consolidated Balance Sheets link:presentationLink link:calculationLink link:definitionLink 0003 - Statement - Consolidated Balance Sheets (Parenthetical) link:presentationLink link:calculationLink link:definitionLink 0004 - Statement - Consolidated Statements of Operations link:presentationLink link:calculationLink link:definitionLink 0005 - Statement - Consolidated Statements of Comprehensive Income (Loss) link:presentationLink link:calculationLink link:definitionLink 0006 - Statement - Consolidated Statements of Cash Flows link:presentationLink link:calculationLink link:definitionLink 0007 - Disclosure - Business and Significant Accounting Policies link:presentationLink link:calculationLink link:definitionLink 0008 - Disclosure - Mineral Properties link:presentationLink link:calculationLink link:definitionLink 0009 - Disclosure - Other Assets link:presentationLink link:calculationLink link:definitionLink 0010 - Disclosure - Short Term Debt link:presentationLink link:calculationLink link:definitionLink 0011 - Disclosure - Long Term Debt link:presentationLink link:calculationLink link:definitionLink 0012 - Disclosure - Derivative Instruments link:presentationLink link:calculationLink link:definitionLink 0013 - Disclosure - Fair Value link:presentationLink link:calculationLink link:definitionLink 0014 - Disclosure - Income Taxes link:presentationLink link:calculationLink link:definitionLink 0015 - Disclosure - Shareholders' Equity, Comprehensive Loss and Noncontrolling Interest link:presentationLink link:calculationLink link:definitionLink 0016 - Disclosure - Segment Reporting link:presentationLink link:calculationLink link:definitionLink 0017 - Disclosure - Subsequent Events link:presentationLink link:calculationLink link:definitionLink 0018 - Disclosure - Business and Significant Accounting Policies (Policies) link:presentationLink link:calculationLink link:definitionLink 0019 - Disclosure - Business and Significant Accounting Policies (Tables) link:presentationLink link:calculationLink link:definitionLink 0020 - Disclosure - Mineral Properties (Tables) link:presentationLink link:calculationLink link:definitionLink 0021 - Disclosure - Other Assets (Tables) link:presentationLink link:calculationLink link:definitionLink 0022 - Disclosure - Short Term Debt (Tables) link:presentationLink link:calculationLink link:definitionLink 0023 - Disclosure - Long Term Debt (Tables) link:presentationLink link:calculationLink link:definitionLink 0024 - Disclosure - Fair Value (Tables) link:presentationLink link:calculationLink link:definitionLink 0025 - Disclosure - Shareholders' Equity, Comprehensive Loss and Noncontrolling Interest (Tables) link:presentationLink link:calculationLink link:definitionLink 0026 - Disclosure - Segment Reporting (Tables) link:presentationLink link:calculationLink link:definitionLink 0027 - Disclosure - Business and Significant Accounting Policies - Marketable Securities and Other Comprehensive Income (Details) link:presentationLink link:calculationLink link:definitionLink 0028 - Disclosure - Business and Significant Accounting Policies - Changes in Marketable Securities (Details) link:presentationLink link:calculationLink link:definitionLink 0029 - Disclosure - Business and Significant Accounting Policies (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 0030 - Disclosure - Mineral Properties - Mineral Investment Mineral Properties (Details) link:presentationLink link:calculationLink link:definitionLink 0031 - Disclosure - Mineral Properties - Mineral Exploration Expense (Details) link:presentationLink link:calculationLink link:definitionLink 0032 - Disclosure - Mineral Properties (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 0033 - Disclosure - Other Assets - Other Assets (Details) link:presentationLink link:calculationLink link:definitionLink 0034 - Disclosure - Short Term Debt - Short Term Debt Total (Details) link:presentationLink link:calculationLink link:definitionLink 0035 - Disclosure - Short Term Debt - Short Term Debt Three Months (Details) link:presentationLink link:calculationLink link:definitionLink 0036 - Disclosure - Short Term Debt (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 0037 - Disclosure - Long Term Debt - Long Term Debt Payments Due August (Details) link:presentationLink link:calculationLink link:definitionLink 0038 - Disclosure - Long Term Debt - Long Term Debt RMB Loan (Details) link:presentationLink link:calculationLink link:definitionLink 0039 - Disclosure - Long Term Debt - Long Term Debt Interest RMB Loan (Details) link:presentationLink link:calculationLink link:definitionLink 0040 - Disclosure - Long Term Debt (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 0041 - Disclosure - Derivative Instruments (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 0042 - Disclosure - Fair Value - Fair Value Assets and Liabilities at March 31 2013 (Details) link:presentationLink link:calculationLink link:definitionLink 0043 - Disclosure - Income Taxes (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 0044 - Statement - Shareholders' Equity (Details) link:presentationLink link:calculationLink link:definitionLink 0045 - Disclosure - Shareholders' Equity, Comprehensive Loss and Noncontrolling Interest (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 0046 - Disclosure - Segment Reporting - Segment Reporting Three Months Ended March 31 2013 (Details) link:presentationLink link:calculationLink link:definitionLink 0047 - Disclosure - Segment Reporting - Segment Reporting Three Months Ended March 31 2012 (Details) link:presentationLink link:calculationLink link:definitionLink 0048 - Disclosure - Segment Reporting (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 0049 - Disclosure - Subsequent Events (Details Narrative) link:presentationLink link:calculationLink link:definitionLink EX-101.CAL 8 xpl-20130331_cal.xml XBRL CALCULATION FILE EX-101.DEF 9 xpl-20130331_def.xml XBRL DEFINITION FILE EX-101.LAB 10 xpl-20130331_lab.xml XBRL LABEL FILE Common Stock Equity Components [Axis] Additional Paid-In Capital Retained Earnings / Accumulated Deficit Other Comprehensive Income / Loss Total Solitario Shareholder Equity Noncontrolling Interest Document And Entity Information Entity Registrant Name Entity Central Index Key Document Type Document Period End Date Amendment Flag Current Fiscal Year End Date Is Entity a Well-known Seasoned Issuer? Is Entity a Voluntary Filer? Is Entity's Reporting Status Current? Entity Filer Category Entity Public Float Entity Common Stock, Shares Outstanding Document Fiscal Period Focus Document Fiscal Year Focus Statement of Financial Position [Abstract] Assets Current assets: Cash and cash equivalents Investments in marketable equity securities, at fair value Royalty sale receivable Prepaid expenses and other Total current assets Mineral properties Investments in marketable equity securities, at fair value Equity method investment Other assets Total assets Liabilities and Shareholders’ Equity Current liabilities: Accounts payable Short-term margin loan Current portion long-term debt Deferred income taxes Other Total current liabilities Long-term debt, net of discount Deferred gain on sale of mineral property Warrant liability Commitments and contingencies Equity: Solitario shareholders’ equity: Preferred stock, $0.01 par value, authorized 10,000,000 shares (none issued and outstanding at March 31, 2013 and December 31, 2012) Common stock, $0.01 par value, authorized 100,000,000 shares (34,647,458 and 34,479,958, respectively, shares issued and outstanding at March 31, 2013 and December 31, 2012) Additional paid-in capital Accumulated deficit Accumulated other comprehensive income Total Solitario shareholders’ equity Noncontrolling interest Total shareholders’ equity Total liabilities and shareholders’ equity Preferred stock Preferred stock, par value Preferred stock, shares authorized Preferred stock, shares issued Common stock Common stock, par value Common stock, shares authorized Common stock, shares issued Common stock, shares outstanding Income Statement [Abstract] Costs, expenses and other: Exploration expense Depreciation and amortization General and administrative Gain on derivative instruments Property abandonment and impairment Interest expense Interest and dividend income Gain on sale of assets Total costs, expenses and other Other income (expense) Gain on sale of marketable equity securities Gain on warrant liability Net loss of equity method investment Total other income (expense) Loss before income tax Income tax benefit Net loss Less net loss attributable to noncontrolling interest Net loss attributable to Solitario shareholders Loss per common share attributable to Solitario shareholders: Basic and diluted Weighted average shares outstanding: Basic and diluted Consolidated Statements Of Comprehensive Income Loss Loss Unrealized loss on marketable equity securities, net of deferred taxes Comprehensive loss Comprehensive loss attributable to Solitario shareholders Comprehensive loss attributable to noncontrolling interests Comprehensive loss Statement of Cash Flows [Abstract] Operating activities: Net loss Adjustments to reconcile net loss to net cash used in operating activities: Unrealized gain on derivative instruments Loss on equity method investment Gain on warrant liability Employee stock option expense Deferred income tax benefit Amortization of discount on long-term debt Property abandonment and impairment (Gain) on asset and equity security sales Changes in operating assets and liabilities: Prepaid expenses and other current assets Accounts payable and other current liabilities Net cash used in operating activities Investing activities: Additions to mineral properties Additions to other assets Proceeds from mineral property sale receivable Proceeds from sale of marketable equity securities Net cash provided by investing activities Financing activities: Short-term borrowing (net) Proceeds from exercise of options Noncontrolling interest contribution, net Proceeds from long-term debt Payment to noncontrolling interest Net cash provided by financing activities Net increase (decrease) in cash and cash equivalents Cash and cash equivalents, beginning of period Cash and cash equivalents, end of period Supplemental disclosure of cash flow information: Cash paid for interest, capitalized to mineral property Supplemental disclosure of non-cash activities: Capitalized non-cash interest Loan to noncontrolling interest Issuance of stock to noncontrolling interest Transfer of contra-noncontrolling interest to noncontrolling interest upon earn-in Disproportionate share entry from noncontrolling interest to additional paid-in-capital upon earn-in Accounting Policies [Abstract] Business and Significant Accounting Policies Extractive Industries [Abstract] Mineral Properties Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] Other Assets Debt Disclosure [Abstract] Short Term Debt Long Term Debt Derivative Instruments and Hedging Activities Disclosure [Abstract] Derivative Instruments Fair Value Disclosures [Abstract] Fair Value Income Tax Disclosure [Abstract] Income Taxes Notes to Financial Statements Shareholders' Equity, Comprehensive Loss and Noncontrolling Interest Segment Reporting Subsequent Events [Abstract] Subsequent Events 1. Business and Significant Accounting Policies Investment in Kinross Equity method investments Employee stock compensation plans Earnings per share Marketable equity securities Marketable Securities and Other Comprehensive Income Changes in Marketable Securities Mineral Investment Mineral Properties Mineral Exploration Expense Other Assets Short Term Debt Total Short Term Debt Three Months Long Term Debt Payments Due August Long Term Debt RMB Loan Long Term Debt Interest RMB Loan Fair Value Assets and Liabilities at March 31 2013 Fair Value Assets and Liabilities December 2012 Shareholders' Equity Segment Reporting Three Months Ended March 31 2013 Segment Reporting Three Months Ended March 31 2012 Marketable equity securities at fair value Cost Accumulated other comprehensive income for unrealized holding gains Deferred taxes on accumulated other comprehensive income for unrealized holding gains Accumulated other comprehensive income Gross cash proceeds Cost Gross gain on sale included in earnings during the period Deferred taxes on gross gain on sale included in earnings Reclassification adjustment to unrealized gain in other comprehensive income for net gains included in earnings Gross unrealized holding loss arising during the period included in other comprehensive loss Deferred taxes on unrealized holding loss included in other comprehensive loss Net unrealized holding (loss) gain EX-101.PRE 11 xpl-20130331_pre.xml XBRL PRESENTATION FILE XML 12 R39.htm IDEA: XBRL DOCUMENT

Long Term Debt - Long Term Debt Interest RMB Loan (Details) (USD $)	3 Months Ended
	Mar. 31, 2013
Debt Disclosure [Abstract]
Interest paid in cash	$ 27,000
Amortization of the RMB Warrants discount	54,000
Amortization of RMB deferred financing costs	49,000
Total interest expense related to the RMB Loan	$ 130,000

XML 13 R48.htm IDEA: XBRL DOCUMENT

Segment Reporting (Details Narrative) (USD $)	3 Months Ended
Segment Reporting (Details Narrative) (USD $)	Mar. 31, 2013	Mar. 31, 2012
Notes to Financial Statements
Loss on unconsolidated subsidiary	$ 313	$ 109
Mt Hamilton interest cost capitalized	180
Mt Hamilton depreciation capitalized	8
Investment in unconsolidated subsidiary	852	1,544
Investment in marketable securities	5,683	8,921
Gain on sale of marketable securities		$ 332

XML 14 R46.htm IDEA: XBRL DOCUMENT

Segment Reporting - Segment Reporting Three Months Ended March 31 2013 (Details) (USD $)	3 Months Ended
	Mar. 31, 2013	Mar. 31, 2012
Notes to Financial Statements
Exploration expense Mt Hamilton		$ 169
Exploration Expense Exploration	362	355
Exploration Expense Consolidated	362	524
Interest expense (2) Mt Hamilton		53
Interest expense (2) Corporate and Other		15
Interest expense (2) Consolidated		68
Other (1) Mt Hamilton	7	12
Other (1) Exploration	351	312
Other (1) Corporate and Other	443	55
Other (1) Consolidated	801	379
Pre-tax income (loss) Mt Hamilton	(7)	(234)
Pre-tax income (loss) Exploration	(713)	(667)
Pre-tax income (loss) Corporate and Other	(443)	(70)
Pre-tax income (loss) Consolidated	(1,163)	(971)
Total assets (3)(4) Mt Hamilton	14,236	9,277
Total assets (3)(4) Exploration	1,395	1,895
Total assets (3)(4) Corporate and Other	6,351	9,295
Total assets (3)(4) Consolidated	21,982	20,467
Capital Expenditures (2) Mt Hamilton	515	355
Capital Expenditures (2) Corporate and Other		9
Capital Expenditures (2) Consolidated	$ 515	$ 364

XML 15 R33.htm IDEA: XBRL DOCUMENT

Other Assets - Other Assets (Details) (USD $)	3 Months Ended
Other Assets - Other Assets (Details) (USD $)	Mar. 31, 2013	Mar. 31, 2012
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Deferred offering costs RMB Loan	$ 469	$ 518
Accumulated Mt. Hamilton advance royalty payments	300	300
Furniture and Fixtures, net of accumulated depreciation	128	143
Exploration bonds and other assets	110	111
Total other assets	$ 1,007	$ 1,072

XML 16 report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; word-wrap: break-word; } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } XML 17 R25.htm IDEA: XBRL DOCUMENT

Shareholders' Equity, Comprehensive Loss and Noncontrolling Interest (Tables)

3 Months Ended

Mar. 31, 2013

Notes to Financial Statements

Shareholders' Equity

(in thousands, except					Accumulated	Total
Share amounts)	Common	Common	Additional		Other	Solitario	Non-	Total
	Stock	Stock	Paid-in	Accumulated	Comprehensive	Shareholder	Controlling	Shareholders’
	Shares	Amount	Capital	Deficit	Income	Equity	Interest	Equity
Balance at December 31, 2012	34,479,958	$345	$47,107	$(42,678)	$3,914	$8,688	$529	$9,217

Exercise of stock options for cash	117,500	1	182			183		183
Issuance of shares to noncontrolling shareholder for future earn-in	50,000	-	77	-	-	77	(77)	-
Issuance of cash to noncontrolling shareholder for future earn-in	-	-	-	-	-	-	(250)	(250)
Stock option expense	-	-	125	-	-	125	-	125
Net loss	-	-	-	(991)	-	(991)	(3)	(994)
Net unrealized loss on marketable equity securities	-	-	-	-	(884)	(884)	-	(884)
Balance at March 31, 2013	34,647,458	$346	$47,491	$(43,669)	$3,030	$7,198	$199	$7,397

XML 18 R42.htm IDEA: XBRL DOCUMENT

Fair Value - Fair Value Assets and Liabilities at March 31 2013 (Details) (USD $)	Mar. 31, 2013	Dec. 31, 2012
Assets
Marketable equity securities Level 1	$ 5,683,000	$ 7,093,000
Marketable equity securities Level 2
Marketable equity securities Level 3
Marketable equity securities Total	5,683	7,093
Liabilities
RMB warrants Level 1
RMB warrants Level 2	1,039,000	1,138,000
RMB warrants Level 3
RMB warrants Total	$ 1,039,000	$ 1,138,000

XML 19 R37.htm IDEA: XBRL DOCUMENT

Long Term Debt - Long Term Debt Payments Due August (Details) (USD $)	Mar. 31, 2013	Dec. 31, 2012
Debt Disclosure [Abstract]
June 1, 2013	$ 750	$ 750
June 1, 2014	750	750
June 1, 2015	1,000	1,000
Unamortized discount	(221)	(264)
Total	2,279	2,236
Current portion	741	727
Long-term debt	$ 1,538	$ 1,509

XML 20 R47.htm IDEA: XBRL DOCUMENT

Segment Reporting - Segment Reporting Three Months Ended March 31 2012 (Details) (USD $)	3 Months Ended
	Mar. 31, 2013	Mar. 31, 2012
Notes to Financial Statements
Exploration expense Mt Hamilton		$ 169
Exploration Expense Exploration	362	355
Exploration Expense Consolidated	362	524
Interest expense Mt Hamilton		53
Interest expense Corporate and Other		15
Interest expense Consolidated		68
Other (1)(3) Mt Hamilton	7	12
Other (1)(3) Exploration	351	312
Other (1)(3) Corporate and Other	443	55
Other (1)(3) Consolidated	801	379
Pre-tax income (loss) Mt Hamilton	(7)	(234)
Pre-tax income (loss) Exploration	(713)	(667)
Pre-tax income (loss) Corporate and Other	(443)	(70)
Pre-tax income (loss) Consolidated	(1,163)	(971)
Total assets (2)(4) Mt Hamilton	14,236	9,277
Total assets (2)(4) Exploration	1,395	1,895
Total assets (2)(4) Corporate and Other	6,351	9,295
Total assets (2)(4) Consolidated	21,982	20,467
Capital Expenditures Mt Hamilton	515	355
Capital Expenditures Corporate and Other		9
Capital Expenditures Consolidated	$ 515	$ 364

XML 21 R9.htm IDEA: XBRL DOCUMENT

Other Assets

3 Months Ended

Mar. 31, 2013

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Other Assets

3. Other assets

The following items comprised other assets:

(in thousands)	March 31,	December 31,
	2013	2012
Deferred offering costs RMB Loan	$469	$518
Accumulated Mt. Hamilton advance royalty payments	300	300
Furniture and Fixtures, net of accumulated depreciation	128	143
Exploration bonds and other assets	110	111
Total other assets	$ 1,007	$ 1,072

EXCEL 22 Financial_Report.xls IDEA: XBRL DOCUMENT begin 644 Financial_Report.xls M[[N_34E-12U697)S:6]N.B`Q+C`-"E@M1&]C=6UE;G0M5'EP93H@5V]R:V)O M;VL-"D-O;G1E;G0M5'EP93H@;75L=&EP87)T+W)E;&%T960[(&)O=6YD87)Y M/2(M+2TM/5].97AT4&%R=%\Y830R-S1E,U]D-C!B7S0S,F1?83(W,5\X96(W M.6(X.65A-34B#0H-"E1H:7,@9&]C=6UE;G0@:7,@82!3:6YG;&4@1FEL92!7 M96(@4&%G92P@86QS;R!K;F]W;B!A'!L;W)E&UL;G,Z=CTS1")U&UL;G,Z;STS1")U&UL/@T*(#QX.D5X8V5L5V]R:V)O;VL^#0H@(#QX M.D5X8V5L5V]R:W-H965T5]);F9O#I%>&-E;%=O#I%>&-E;%=O#I%>&-E;%=O#I%>&-E;%=O#I%>&-E;%=O#I%>&-E;%=O#I%>&-E;%=O#I% M>&-E;%=O#I%>&-E;%=O#I%>&-E;%=O#I7;W)K#I%>&-E;%=O M#I.86UE/@T*("`@(#QX.E=O#I%>&-E;%=O#I. M86UE/DEN8V]M95]487AE#I.86UE/@T*("`@(#QX.E=O#I%>&-E;%=O#I.86UE/E-H87)E:&]L9&5R#I. M86UE/@T*("`@(#QX.E=O#I%>&-E;%=O M#I7;W)K#I%>&-E;%=O#I.86UE/@T*("`@(#QX.E=O#I%>&-E;%=O#I.86UE/DUI;F5R86Q?4')O<&5R=&EE#I7;W)K#I%>&-E M;%=O#I.86UE/@T*("`@(#QX.E=O M#I%>&-E;%=O#I.86UE/DQO;F=?5&5R;5]$96)T7U1A8FQE#I. M86UE/@T*("`@(#QX.E=O#I%>&-E;%=O M5]#;VUP#I.86UE/@T*("`@ M(#QX.E=O#I%>&-E M;%=O#I.86UE/E-E9VUE;G1?4F5P;W)T:6YG7U1A M8FQE#I.86UE/@T*("`@(#QX.E=O#I%>&-E;%=O#I.86UE/D)U M#I7;W)K#I%>&-E M;%=O#I.86UE/@T* M("`@(#QX.E=O#I% M>&-E;%=O#I.86UE/DUI;F5R86Q?4')O<&5R=&EE M#I.86UE/@T*("`@(#QX.E=O#I%>&-E;%=O#I.86UE/DUI;F5R86Q?4')O<&5R=&EE#I.86UE M/@T*("`@(#QX.E=O#I%>&-E;%=O#I.86UE/DUI;F5R86Q?4')O<&5R M=&EE#I.86UE/@T*("`@(#QX.E=O#I%>&-E;%=O#I.86UE/D]T:&5R7T%S#I%>&-E;%=O#I.86UE/E-H;W)T7U1E#I.86UE/@T*("`@(#QX.E=O#I%>&-E;%=O#I.86UE/E-H;W)T7U1E#I7;W)K#I7;W)K M#I7;W)K#I%>&-E;%=O#I.86UE/@T*("`@(#QX.E=O#I%>&-E;%=O#I.86UE M/DQO;F=?5&5R;5]$96)T7T1E=&%I;'-?3F%R#I.86UE/@T*("`@ M(#QX.E=O#I%>&-E M;%=O#I.86UE/D1E#I%>&-E;%=O#I. M86UE/D9A:7)?5F%L=65?1F%I#I.86UE/@T* M("`@(#QX.E=O#I% M>&-E;%=O#I.86UE/DEN8V]M95]487AE#I.86UE/@T*("`@(#QX.E=O#I%>&-E;%=O#I.86UE/E-H87)E:&]L9&5R#I.86UE/@T* M("`@(#QX.E=O#I% M>&-E;%=O#I.86UE/E-H87)E:&]L9&5R#I7;W)K#I7;W)K#I%>&-E;%=O#I%>&-E;%=O#I%>&-E;%=O#I!8W1I=F53:&5E=#XP/"]X.D%C=&EV95-H965T/@T* M("`\>#I0#I%>&-E;%=O7!E.B!T97AT+VAT;6P[(&-H87)S970](G5S+6%S8VEI(@T*#0H\:'1M;#X- M"B`@/&AE860^#0H@("`@/$U%5$$@:'1T<"UE<75I=CTS1$-O;G1E;G0M5'EP M92!C;VYT96YT/3-$)W1E>'0O:'1M;#L@8VAA2!);F9O'0^/'-P M86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P M86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S M/3-$'0^ M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L M87-S/3-$"!+97D\+W1D/@T*("`@("`@("`\=&0@ M8VQA'0^36%R M(#,Q+`T*"0DR,#$S/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C M;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T* M("`@("`@/'1R(&-L87-S/3-$'0^9F%L2!A(%=E;&PM:VYO=VX@4V5A'0^3F\\2!A(%9O M;'5N=&%R>2!&:6QE'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R M(&-L87-S/3-$2!&:6QE M3PO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^4VUA M;&QE3QS<&%N/CPO'10 M87)T7SEA-#(W-&4S7V0V,&)?-#,R9%]A,C'0O:F%V87-C3X-"B`@("`\=&%B;&4@8VQA'0^ M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^ M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L M87-S/3-$6%L M='D@'!E;G-E2!M971H;V0@:6YV97-T;65N=#PO=&0^#0H@("`@("`@(#QT M9"!C;&%S6%B M;&4\+W1D/@T*("`@("`@("`\=&0@8VQA'0O:F%V87-C M3X-"B`@("`\=&%B;&4@ M8VQA'0^/'-P86X^ M/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^ M/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$ MF5D/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XQ M,"PP,#`L,#`P/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S M7!E M.B!T97AT+VAT;6P[(&-H87)S970](G5S+6%S8VEI(@T*#0H\:'1M;#X-"B`@ M/&AE860^#0H@("`@/$U%5$$@:'1T<"UE<75I=CTS1$-O;G1E;G0M5'EP92!C M;VYT96YT/3-$)W1E>'0O:'1M;#L@8VAA'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@ M("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@ M("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$'!L;W)A=&EO;B!E>'!E;G-E/"]T M9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XD(#,V,CQS<&%N/CPO2!A8F%N9&]N;65N="!A;F0@:6UP M86ER;65N=#PO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^)FYB3PO M=&0^#0H@("`@("`@(#QT9"!C;&%S#PO=&0^#0H@ M("`@("`@(#QT9"!C;&%S"!B96YE9FET/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XQ-CD\ M7!E.B!T97AT+VAT;6P[(&-H87)S M970](G5S+6%S8VEI(@T*#0H\:'1M;#X-"B`@/&AE860^#0H@("`@/$U%5$$@ M:'1T<"UE<75I=CTS1$-O;G1E;G0M5'EP92!C;VYT96YT/3-$)W1E>'0O:'1M M;#L@8VAA'0^/'-P86X^/"]S<&%N/CPO=&0^ M#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^ M#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$2!S96-U3X-"CPO M:'1M;#X-"@T*+2TM+2TM/5].97AT4&%R=%\Y830R-S1E,U]D-C!B7S0S,F1? M83(W,5\X96(W.6(X.65A-34-"D-O;G1E;G0M3&]C871I;VXZ(&9I;&4Z+R\O M0SHO.6$T,C'0O:'1M;#L@ M8VAA3PO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^)FYB2!A8F%N9&]N;65N="!A;F0@:6UP86ER;65N M=#PO=&0^#0H@("`@("`@(#QT9"!C;&%S6%B;&4@86YD(&]T:&5R(&-U'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C M;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T* M("`@("`@/'1R(&-L87-S/3-$'0^)FYB2!S86QE(')E8V5I=F%B;&4\+W1D/@T*("`@("`@("`\=&0@ M8VQA'0^)FYB'0^)FYB&5R8VES92!O9B!O<'1I;VYS/"]T9#X-"B`@("`@ M("`@/'1D(&-L87-S/3-$;G5M<#XQ.#,\6UE;G0@=&\@;F]N8V]N=')O M;&QI;F<@:6YT97)E3PO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^)FYB'0O:F%V87-C3X-"B`@("`\=&%B;&4@8VQA6QE/3-$)VUA6QE M/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE6QE M/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE6QE M/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE M6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE M2!#;W)P+B`H)B,Q-#<[4V]L:71A6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@ M3F5W(%)O;6%N+"!4:6UE6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@ M3F5W(%)O;6%N+"!4:6UE2!G96YE2!O M9B!N;W)M86P@2!I;F1I8V%T:79E(&]F(')E2!B92!A M8VAI979E9"!I;B!T:&4@9G5T=7)E(&]R(&9O65AF5D(&EN('1H92!P6QE/3-$)V9O;G0Z(#$P M<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE6QE/3-$)V9O;G0Z(#$P M<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE2!M971H;V0@:6YV97-T;65N=',\+W4^/"]P/@T*#0H\<"!S='EL93TS M1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E2!M971H;V0@87,@;V8@2G5L M>2`R,2P@,C`Q,"P-"G=H96X@06YG;&\@4&QA=&EN=6T@3&EM:71E9"`H)B,Q M-#<[06YG;&\F(S$T.#LI(&5A2P@:6X@:71S(&5Q=6ET>2!M M971H;V0@:6YV97-T;65N="!F;W(@4V]L:71A'0M:6YD96YT.B`P+C5I;B<^)B,Q M-C`[)B,Q-C`[)B,Q-C`[)B,Q-C`[)B,Q-C`[)B,Q-C`[)B,Q-C`[)B,Q-C`[ M)B,Q-C`[)B,Q-C`[4V]L:71A2P@;V8@ M'!E;G-E(&9OF%T:6]N(&]F M(&=R86YT(&1A=&4@9F%I2!G&5R8VES960@870@82!P6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4 M:6UE6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4 M:6UE2!S96-U6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE6QE/3-$)W=I9'1H.B`W,B4[(&QA>6]U="UG'0M86QI9VXZ(&IU6]U="UG'0M86QI9VXZ(&-E;G1E6QE/3-$)VQA>6]U="UG'0M86QI9VXZ(')I9VAT)SXD-RPP.3,F(S$V,#L\+W1D/CPO M='(^#0H\='(@6QE/3-$)VQA>6]U="UG6QE/3-$)V)O'0@,7!T('-O;&ED.R!L87EO=70M9W)I9"UM;V1E.B!L:6YE.R!T97AT M+6%L:6=N.B!R:6=H="<^)B,Q-C`[)B,Q-C`[)B,Q-C`[.#4Q)B,Q-C`[/"]T M9#X\+W1R/@T*/'1R('-T>6QE/3-$)W9E6QE/3-$)VQA M>6]U="UG'0M86QI9VXZ(')I9VAT)SXT+#@S M,B8C,38P.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)VQA>6]U="UG'0M86QI9VXZ(')I9VAT)SXV+#(T,B8C,38P.R8C,38P M.SPO=&0^/"]TF5D(&AO;&1I;F<@9V%I;G,\+W1D M/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!W:6YD;W=T97AT M(#%P="!S;VQI9#L@;&%Y;W5T+6=R:60M;6]D93H@;&EN93L@=&5X="UA;&EG M;CH@6]U="UG'0M86QI9VXZ(')I9VAT)SXR+#,R M."8C,38P.SPO=&0^/"]T6QE/3-$)V)O'0@,7!T('-O;&ED.R!L M87EO=70M9W)I9"UM;V1E.B!L:6YE.R!T97AT+6%L:6=N.B!R:6=H="<^)#,L M.3$T)B,Q-C`[/"]T9#X\+W1R/@T*/"]T86)L93X-"CQP('-T>6QE/3-$)V9O M;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE2!S96-U6]U M="UG6QE M/3-$)W9E'0@,7!T('-O;&ED.R!P861D:6YG+7)I9VAT M.B`U+C1P=#L@<&%D9&EN9RUL969T.B`U+C1P=#L@;&%Y;W5T+6=R:60M;6]D M93H@;&EN93L@=&5X="UA;&EG;CH@8V5N=&5R)SXR,#$S/"]T9#X-"B`@("`\ M=&0@6QE/3-$)W9E6]U="UG M'0M86QI9VXZ(')I9VAT)SXD)B,Q-C`[)B,Q M-C`[)B,Q-C`[)B,Q-C`[,S4S)B,Q-C`[/"]T9#X\+W1R/@T*/'1R/@T*("`@ M(#QT9"!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@=&]P.R!P861D:6YG+7)I M9VAT.B`U+C1P=#L@<&%D9&EN9RUL969T.B`U+C1P=#L@;&%Y;W5T+6=R:60M M;6]D93H@;&EN92<^0V]S=#PO=&0^#0H@("`@/'1D('-T>6QE/3-$)W9E'0@ M,7!T('-O;&ED.R!P861D:6YG+7)I9VAT.B`U+C1P=#L@<&%D9&EN9RUL969T M.B`U+C1P=#L@;&%Y;W5T+6=R:60M;6]D93H@;&EN93L@=&5X="UA;&EG;CH@ M6QE/3-$)W9E6]U="UG&5S(&]N(&=R;W-S(&=A:6X@;VX@6QE/3-$)W9E'0@,7!T('-O;&ED M.R!P861D:6YG+7)I9VAT.B`W+C5P=#L@<&%D9&EN9RUL969T.B`P+C%I;CL@ M;&%Y;W5T+6=R:60M;6]D93H@;&EN93L@=&5X="UA;&EG;CH@6]U="UG'0M86QI9VXZ(')I9VAT)SXH,3(T M*3PO=&0^/"]T6]U="UGF5D(&=A:6X@:6X@;W1H97(@ M/&)R("\^#0HF(S$V,#LF(S$V,#LF(S$V,#MC;VUP6]U="UG M'0M86QI9VXZ(')I9VAT)SXM)B,Q-C`[)B,Q M-C`[)B,Q-C`[/"]T9#X-"B`@("`\=&0@6]U="UG'0M86QI9VXZ M(')I9VAT)SXH,C`X*3PO=&0^/"]T6]U="UG6QE/3-$)W9E6QE/3-$)W9E6]U="UG&5S(&]N M('5N6]U="UG'0M86QI9VXZ(')I9VAT)SXF(S$V,#LU,C8F(S$V M,#L\+W1D/@T*("`@(#QT9"!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T M=&]M.R!B;W)D97(M8F]T=&]M.B!W:6YD;W=T97AT(#%P="!S;VQI9#L@<&%D M9&EN9RUR:6=H=#H@-2XT<'0[('!A9&1I;F6]U M="UG'0M86QI9VXZ(')I9VAT)SXT,#4F(S$V M,#L\+W1D/CPO='(^#0H\='(^#0H@("`@/'1D('-T>6QE/3-$)W9E'0M86QI M9VXZ(')I9VAT)SXH-C@Q*3PO=&0^/"]T6]U="UG6]U="UG'0M86QI9VXZ(')I9VAT)SXD*#@X-"D\+W1D/@T*("`@(#QT9"!S='EL93TS M1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M.R!B;W)D97(M8F]T=&]M.B!W:6YD M;W=T97AT(#%P="!S;VQI9#L@<&%D9&EN9RUR:6=H=#H@-2XT<'0[('!A9&1I M;F6]U="UG'0M M86QI9VXZ(')I9VAT)SXD*#@X.2D\+W1D/CPO='(^#0H\+W1A8FQE/@T*/'`@ M6QE/3-$)VUA3X-"CPO M:'1M;#X-"@T*+2TM+2TM/5].97AT4&%R=%\Y830R-S1E,U]D-C!B7S0S,F1? M83(W,5\X96(W.6(X.65A-34-"D-O;G1E;G0M3&]C871I;VXZ(&9I;&4Z+R\O M0SHO.6$T,C'0O:'1M;#L@ M8VAA'0^/'`@6QE M/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE6QE/3-$)W=I9'1H.B`Q,#`E.R!F;VYT.B`Q,'!T(%1I;65S($YE=R!2 M;VUA;BP@5&EM97,L(%-E6]U="UG6]U="UG'0M86QI9VXZ(&-E;G1E6]U M="UG'0M86QI9VXZ(&-E;G1E6]U="UG'0M86QI9VXZ(&-E;G1E6]U="UG6QE/3-$)W!A M9&1I;F6]U="UG'0M86QI9VXZ(')I9VAT)SXF(S$V,#L\+W1D/CPO='(^#0H\='(@6QE M/3-$)W!A9&1I;F6]U="UG'0M86QI9VXZ(')I9VAT)SXD.2PW.3`F(S$V,#L\+W1D/@T*("`@ M(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!W:6YD;W=T97AT(#%P="!S M;VQI9#L@<&%D9&EN9RUR:6=H=#H@-2XT<'0[('!A9&1I;F6]U="UG'0M86QI9VXZ(')I9VAT M)SXD.2PR-S4F(S$V,#L\+W1D/CPO='(^#0H\='(@6QE/3-$)W!A9&1I;F'!L;W)A=&EO;CPO=&0^#0H@("`@/'1D('-T>6QE M/3-$)W!A9&1I;F6]U="UG'0M86QI9VXZ(')I9VAT)SXF(S$V,#L\+W1D/CPO='(^#0H\ M='(@6QE/3-$)W!A9&1I;F6]U="UG'0M86QI9VXZ(')I9VAT)SXR,"8C M,38P.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F6QE/3-$)W!A9&1I;F&EC;RD\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P M861D:6YG+7)I9VAT.B`U+C1P=#L@<&%D9&EN9RUL969T.B`U+C1P=#L@;&%Y M;W5T+6=R:60M;6]D93H@;&EN93L@=&5X="UA;&EG;CH@6QE/3-$)W!A9&1I;F6]U M="UG'0M86QI9VXZ(')I9VAT)SXU)B,Q-C`[ M/"]T9#X-"B`@("`\=&0@6]U="UG'0M86QI9VXZ(')I9VAT)SXU)B,Q-C`[/"]T9#X\+W1R/@T*/'1R('-T M>6QE/3-$)W9E6QE/3-$)W!A9&1I;FG5L("A097)U*3PO=&0^#0H@("`@/'1D('-T>6QE/3-$ M)W!A9&1I;F6QE/3-$)W!A9&1I;F6]U="UG6]U="UG'0M86QI9VXZ(')I9VAT)SXU)B,Q M-C`[/"]T9#X-"B`@("`\=&0@6]U="UG'0M86QI9VXZ(')I9VAT)SXU)B,Q-C`[/"]T9#X\+W1R/@T*/'1R M('-T>6QE/3-$)W9E6]U="UG M'0M86QI9VXZ(')I9VAT)SXM)B,Q-C`[)B,Q M-C`[)B,Q-C`[/"]T9#X-"B`@("`\=&0@6]U="UG'0M86QI9VXZ(')I9VAT)SXU)B,Q-C`[/"]T9#X\+W1R M/@T*/'1R('-T>6QE/3-$)W9E6QE/3-$)V)O'0@,7!T('-O;&ED.R!P861D:6YG+7)I9VAT.B`U+C1P M=#L@<&%D9&EN9RUL969T.B`U+C1P=#L@;&%Y;W5T+6=R:60M;6]D93H@;&EN M93L@=&5X="UA;&EG;CH@6QE/3-$)W!A9&1I;F'!L;W)A=&EO;CPO=&0^#0H@("`@/'1D M('-T>6QE/3-$)V)O'0@,7!T('-O;&ED M.R!P861D:6YG+7)I9VAT.B`U+C1P=#L@<&%D9&EN9RUL969T.B`U+C1P=#L@ M;&%Y;W5T+6=R:60M;6]D93H@;&EN93L@=&5X="UA;&EG;CH@6QE/3-$)W!A9&1I;F6QE/3-$)V9O;G0Z(#$P<'0@5&EM M97,@3F5W(%)O;6%N+"!4:6UE'0M:6YD96YT.B`P+C5I;B<^)B,Q-C`[)B,Q-C`[)B,Q-C`[)B,Q-C`[)B,Q M-C`[)B,Q-C`[)B,Q-C`[)B,Q-C`[)B,Q-C`[)B,Q-C`[3VX-"D9E8G)U87)Y M(#(R+"`R,#$R+"!3;VQI=&%R:6\@86YN;W5N8V5D('1H92!C;VUP;&5T:6]N M(&]F(&$@9F5A0T*4W1U9'DF M(S$T.#LI('!R97!A2!I;B!P;&%C92X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM M97,@3F5W(%)O;6%N+"!4:6UE6QE/3-$)V9O;G0Z(#$P<'0@5&EM M97,@3F5W(%)O;6%N+"!4:6UEF5D(&$@=&]T86P@;V8@)#4Q-2PP M,#`@;V8@9&5V96QO<&UE;G0@8V]S=',@'!L;W)A=&EO;B!P2!A9&1I=&EO;F%L(&-O'!L;W)A=&EO;B!A8W1I=FET M:65S(')E;&%T960@=&\@;W5R('!R;VIE8W1S(&%R92!E>'!E;G-E9"!A6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@ M3F5W(%)O;6%N+"!4:6UE'0M:6YD96YT.B`M,"XU:6XG/B8C,38P M.SPO<#X-"@T*/'`@'!L;W)A=&EO;B!E>'!E;G-E/"]U M/CPO<#X-"@T*/'`@'0M M:6YD96YT.B`P+C5I;B<^)B,Q-C`[)B,Q-C`[)B,Q-C`[)B,Q-C`[)B,Q-C`[ M)B,Q-C`[)B,Q-C`[)B,Q-C`[)B,Q-C`[)B,Q-C`[5&AE#0IF;VQL;W=I;F<@ M:71E;7,@8V]M<')I6QE/3-$)W9E6]U="UG'0M86QI9VXZ(&-E M;G1E6QE/3-$)W9E'0@,7!T('-O;&ED.R!P861D:6YG+7)I9VAT.B`X+C%P=#L@<&%D9&EN M9RUL969T.B`U+C1P=#L@;&%Y;W5T+6=R:60M;6]D93H@;&EN93L@=&5X="UA M;&EG;CH@8V5N=&5R)SXR,#$R)B,Q-C`[)B,Q-C`[/"]T9#X\+W1R/@T*/'1R M/@T*("`@(#QT9"!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@=&]P.R!P861D M:6YG+7)I9VAT.B`P+C4U:6X[('!A9&1I;F6]U M="UG'!E;G-E M6QE/3-$)W9E6QE/3-$)W9E6QE/3-$ M)W9E6]U="UG'0M86QI9VXZ(')I9VAT)SXQ,3@F(S$V,#L\+W1D/CPO M='(^#0H\='(^#0H@("`@/'1D('-T>6QE/3-$)W9E6QE/3-$ M)W9E'0@,7!T('-O;&ED.R!P861D:6YG+7)I9VAT.B`X+C%P=#L@<&%D9&EN M9RUL969T.B`U+C1P=#L@;&%Y;W5T+6=R:60M;6]D93H@;&EN93L@=&5X="UA M;&EG;CH@6]U="UG M'0M86QI9VXZ(')I9VAT)SXQ-CDF(S$V,#L\ M+W1D/CPO='(^#0H\='(^#0H@("`@/'1D('-T>6QE/3-$)W9E6]U="UG'0M86QI9VXZ(')I9VAT M)SXD(#,V,B8C,38P.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W9E'0@,7!T M('-O;&ED.R!P861D:6YG+7)I9VAT.B`X+C%P=#L@<&%D9&EN9RUL969T.B`U M+C1P=#L@;&%Y;W5T+6=R:60M;6]D93H@;&EN93L@=&5X="UA;&EG;CH@6QE M/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE7!E.B!T97AT+VAT;6P[(&-H87)S M970](G5S+6%S8VEI(@T*#0H\:'1M;#X-"B`@/&AE860^#0H@("`@/$U%5$$@ M:'1T<"UE<75I=CTS1$-O;G1E;G0M5'EP92!C;VYT96YT/3-$)W1E>'0O:'1M M;#L@8VAA'0^/'`@6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O M;6%N+"!4:6UE6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O M;6%N+"!4:6UE6QE/3-$)W9E6QE/3-$)W9E6]U="UG'0M86QI9VXZ(&-E;G1E6QE/3-$)W9E M6QE/3-$)W9E6UE;G1S/"]T9#X-"B`@("`\=&0@ M6]U="UG'0M86QI9VXZ(')I9VAT)SXS,#`F(S$V,#L\+W1D/@T* M("`@(#QT9"!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M.R!P861D M:6YG+7)I9VAT.B`X+C%P=#L@<&%D9&EN9RUL969T.B`U+C1P=#L@;&%Y;W5T M+6=R:60M;6]D93H@;&EN93L@=&5X="UA;&EG;CH@'1U6]U="UG'0M86QI9VXZ(')I9VAT)SXF M(S$V,#LF(S$V,#LQ,C@F(S$V,#L\+W1D/@T*("`@(#QT9"!S='EL93TS1"=V M97)T:6-A;"UA;&EG;CH@8F]T=&]M.R!P861D:6YG+7)I9VAT.B`X+C%P=#L@ M<&%D9&EN9RUL969T.B`U+C1P=#L@;&%Y;W5T+6=R:60M;6]D93H@;&EN93L@ M=&5X="UA;&EG;CH@'!L;W)A=&EO;B!B;VYD6]U="UG6QE M/3-$)W9E'0@,7!T('-O;&ED.R!P861D:6YG+7)I9VAT.B`X+C%P=#L@<&%D M9&EN9RUL969T.B`U+C1P=#L@;&%Y;W5T+6=R:60M;6]D93H@;&EN93L@=&5X M="UA;&EG;CH@6]U="UG'0M86QI9VXZ(')I9VAT)SXD(#$L,#6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O M;6%N+"!4:6UE6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O M;6%N+"!4:6UE6QE/3-$)VUA3X-"CPO:'1M;#X-"@T*+2TM+2TM/5].97AT4&%R=%\Y830R M-S1E,U]D-C!B7S0S,F1?83(W,5\X96(W.6(X.65A-34-"D-O;G1E;G0M3&]C M871I;VXZ(&9I;&4Z+R\O0SHO.6$T,C'0O:'1M;#L@8VAA'0^/'`@6QE/3-$)V9O;G0Z M(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE6QE/3-$)V9O;G0Z M(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE2`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`[)B,Q-C`[*&EN('1H;W5S86YD6QE/3-$)VQA>6]U="UG6QE/3-$)W9E6QE M/3-$)W!A9&1I;F6QE/3-$)W9E6UE;G1S/"]T9#X-"B`@("`\=&0@ M6QE/3-$)W9E6QE/3-$)V)O'0@,7!T('-O;&ED.R!P861D:6YG+7)I9VAT.B`V M<'0[(&QA>6]U="UG'0M86QI9VXZ(')I9VAT M)SXD,2PU,#`F(S$V,#L\+W1D/CPO='(^#0H\+W1A8FQE/@T*/'`@6QE/3-$ M)W9E'0M86QI9VXZ(&-E;G1E'0M86QI9VXZ(&-E;G1E6]U="UG6QE/3-$)W9E M'0@,7!T('-O;&ED.R!P861D:6YG+7)I9VAT.B`U+C1P M=#L@<&%D9&EN9RUL969T.B`U+C1P=#L@;&%Y;W5T+6=R:60M;6]D93H@;&EN M93L@=&5X="UA;&EG;CH@6]U="UG6]U="UG'0M86QI9VXZ(')I9VAT)SXD M(#@F(S$V,#L\+W1D/@T*("`@(#QT9"!S='EL93TS1"=V97)T:6-A;"UA;&EG M;CH@8F]T=&]M.R!P861D:6YG+7)I9VAT.B`U+C1P=#L@<&%D9&EN9RUL969T M.B`U+C1P=#L@;&%Y;W5T+6=R:60M;6]D93H@;&EN93L@=&5X="UA;&EG;CH@ M6]U="UG6QE/3-$)W9E'0@,7!T('-O;&ED.R!P M861D:6YG+7)I9VAT.B`U+C1P=#L@<&%D9&EN9RUL969T.B`U+C1P=#L@;&%Y M;W5T+6=R:60M;6]D93H@;&EN93L@=&5X="UA;&EG;CH@6QE M/3-$)W9E6]U="UG'0M86QI9VXZ(')I M9VAT)SXD(#@F(S$V,#L\+W1D/@T*("`@(#QT9"!S='EL93TS1"=V97)T:6-A M;"UA;&EG;CH@8F]T=&]M.R!B;W)D97(M8F]T=&]M.B!W:6YD;W=T97AT(#%P M="!S;VQI9#L@<&%D9&EN9RUR:6=H=#H@-2XT<'0[('!A9&1I;F6]U="UG'0M86QI9VXZ(')I M9VAT)SXD,3F5D M(&%L;"!O9B!I=',@:6YT97)E XML 23 R43.htm IDEA: XBRL DOCUMENT

Income Taxes (Details Narrative) (USD $)	3 Months Ended
Income Taxes (Details Narrative) (USD $)	Mar. 31, 2013	Mar. 31, 2012
Income Tax Disclosure [Abstract]
Deferred tax liabilities exceeding deferred tax assets	$ 256,000	$ 963,000
Deferred tax benefit in statement of operations	169,000	109,000
Deferred tax benefit to comprehensive income	526,000	529,000
Net unrealized losses on marketable securities	$ 1,410,000	$ 1,418,000

XML 24 R29.htm IDEA: XBRL DOCUMENT

Business and Significant Accounting Policies (Details Narrative) (USD $)	3 Months Ended
	Mar. 31, 2013	Mar. 31, 2012	May 07, 2013	Apr. 22, 2013	Dec. 31, 2012	Jul. 21, 2010
Accounting Policies [Abstract]
Shares of Kinross	670,000
Shares of Kinross Sold	30,000
Proceeds on Sale of Kinross Shares	$ 353,000
Gain on Sale of Shares of Kinross	332,000
Short Term Margin Loans Borrowed Against Kinross Holdings	1,500,000				1,500,000
Proceeds from Sale of 10,000 Shares Kinross				54,000
Shares of Kinross Owned			660,000
Value of 660,000 Kinross Shares Owned at $5.38 Per Share			3,480,000
Anglo Earned Interested in Pedra Branca do Mineracao, Ltd.						0.51
Reduction in Equity Method Investment for Loss of PBM	313,000	109,000
Stock Option Expense for Amortization of Grant Date Fair Value	125,000	174,000
Options Available for Grant Under 2006 Plan						2,800,000
Proceeds for 112,500 Shares Exercised at Cdn$1.55 per share	176,000
Proceeds for 5,000 Shares Exercised at Cdn$1.49 per share	$ 7,000
Potentially Dilutive Shares Related to Outstanding Stock Options mar 31 13	2,480,900	2,433,400
Potentially Dilutive Warrants	1,624,748

XML 25 R28.htm IDEA: XBRL DOCUMENT

Business and Significant Accounting Policies - Changes in Marketable Securities (Details) (USD $)	3 Months Ended
	Mar. 31, 2013	Mar. 31, 2012
Accounting Policies [Abstract]
Gross cash proceeds		$ 353
Cost		21
Gross gain on sale included in earnings during the period		332
Deferred taxes on gross gain on sale included in earnings		(124)
Reclassification adjustment to unrealized gain in other comprehensive income for net gains included in earnings		(208)
Gross unrealized holding loss arising during the period included in other comprehensive loss	(1,410)	(1,086)
Deferred taxes on unrealized holding loss included in other comprehensive loss	526	405
Net unrealized holding (loss) gain	(884)	(681)
Other comprehensive (loss) income from marketable equity securities	$ (884)	$ (889)

XML 26 R44.htm IDEA: XBRL DOCUMENT

Shareholders' Equity (Details) (USD $)	Common Stock	Additional Paid-In Capital	Retained Earnings / Accumulated Deficit	Other Comprehensive Income / Loss	Total Solitario Shareholder Equity	Noncontrolling Interest	Total
Beginning balance, Shares at Dec. 31, 2012	34,479,958
Beginning balance, Value	$ 345	$ 47,107	$ (42,678)	$ 3,914	$ 8,688	$ 529	$ 9,217
Exercise of stock options for cash, Value	1	182			183		183
Exercise of stock options for cash, Shares	117,500
Issuance of shares to noncontrolling shareholder for future earn-in, Value		77			77	(77)
Issuance of shares to noncontrolling shareholder for future earn-in, Shares	50,000
Issuance of cash to noncontrolling shareholder for future earn-in						(250)	(250)
Stock option expense		125			125		125
Net loss			(991)		(991)	(3)	(994)
Net unrealized loss on marketable equity securities				(884)	(884)		(884)
Ending balance, Value	$ 346	$ 47,491	$ (43,669)	$ 3,030	$ 7,198	$ 199	$ 7,397
Ending balance, Shares at Mar. 31, 2013	34,647,458

XML 27 R30.htm IDEA: XBRL DOCUMENT

Mineral Properties - Mineral Investment Mineral Properties (Details) (USD $)	Mar. 31, 2013	Dec. 31, 2012
Extractive Industries [Abstract]
Mt. Hamilton	$ 9,790	$ 9,275
Exploration
Pachuca (Mexico)	20	20
Norcan (Mexico)	6	6
Aconchi (Mexico)	5	5
Canta Colorado (Mexico)	3	3
Cerro Azul (Peru)	3	3
La Promesa (Peru)	5	5
Atico (Peru)		5
Jaripo (Mexico)		5
Total exploration	42	52
Total mineral property	$ 9,832	$ 9,327

XML 28 R31.htm IDEA: XBRL DOCUMENT

Mineral Properties - Mineral Exploration Expense (Details) (USD $)	3 Months Ended
	Mar. 31, 2013	Mar. 31, 2012
Extractive Industries [Abstract]
Geologic and field expenses	$ 246	$ 237
Administrative	116	118
Mt. Hamilton exploration and development		169
Total exploration costs	$ 362	$ 524

XML 29 R8.htm IDEA: XBRL DOCUMENT

Mineral Properties

3 Months Ended

Mar. 31, 2013

Extractive Industries [Abstract]

Mineral Properties

2. Mineral Property

The following table details Solitario’s investment in Mineral Property:

(in thousands)	March 31,	December 31,
	2013	2012
Development (United States)
Mt. Hamilton	$9,790	$9,275
Exploration
Pachuca (Mexico)	20	20
Norcan (Mexico)	6	6
Aconchi (Mexico)	5	5
Canta Colorado (Mexico)	3	3
Cerro Azul (Peru)	3	3
La Promesa (Peru)	5	5
Atico (Peru)	-	5
Jaripo (Mexico)	-	5
Total exploration	42	52
Total mineral property	$9,832	$9,327

Mt. Hamilton

Discontinued projects

Exploration expense

The following items comprised exploration expense:

(in thousands)	Three months ended March 31,
	2013	2012
Geologic and field expenses	$246	$237
Administrative	116	118
Mt. Hamilton exploration and development	-	169
Total exploration costs	$ 362	$ 524

XML 30 R32.htm IDEA: XBRL DOCUMENT

Mineral Properties (Details Narrative) (USD $)	3 Months Ended
Mineral Properties (Details Narrative) (USD $)	Mar. 31, 2013	Mar. 31, 2012	Feb. 22, 2012
Extractive Industries [Abstract]
Interest in Mount Hamilton			0.80
Capitalized Development Costs	$ 515,000	$ 220,000
Development Expenditures	327,000
Depreciation Expense	8,000
Interest Expense	180,000
Mineral Property Write-Downs	$ 10,000

XML 31 R40.htm IDEA: XBRL DOCUMENT

Long Term Debt (Details Narrative) (USD $)	3 Months Ended
Long Term Debt (Details Narrative) (USD $)	Mar. 31, 2013	Mar. 31, 2012	Aug. 10, 2012
Debt Disclosure [Abstract]
Interest for accretion of debt discount related to August long term debt	$ 42,000	$ 53,000
Amount available to borrow from RMB Resources			$ 5,000,000
RMB loan interest rate	0.0528

XML 32 R2.htm IDEA: XBRL DOCUMENT

Consolidated Balance Sheets (USD $) In Thousands, unless otherwise specified	Mar. 31, 2013	Dec. 31, 2012
Current assets:
Cash and cash equivalents	$ 4,396	$ 616
Investments in marketable equity securities, at fair value	2,538	3,110
Royalty sale receivable		4,000
Prepaid expenses and other	212	210
Total current assets	7,146	7,936
Mineral properties	9,832	9,327
Investments in marketable equity securities, at fair value	3,145	3,983
Equity method investment	852	1,165
Other assets	1,007	1,072
Total assets	21,982	23,483
Current liabilities:
Accounts payable	430	398
Short-term margin loan	1,500	1,500
Current portion long-term debt	741	727
Deferred income taxes	256	963
Other	100	103
Total current liabilities	3,027	3,691
Long-term debt, net of discount	3,519	2,437
Deferred gain on sale of mineral property	7,000	7,000
Warrant liability	1,039	1,138
Preferred stock, $0.01 par value, authorized 10,000,000 shares (none issued and outstanding at March 31, 2013 and December 31, 2012)
Common stock, $0.01 par value, authorized 100,000,000 shares (34,647,458 and 34,479,958, respectively, shares issued and outstanding at March 31, 2013 and December 31, 2012)	346	345
Additional paid-in capital	47,491	47,107
Accumulated deficit	(43,669)	(42,678)
Accumulated other comprehensive income	3,030	3,914
Total Solitario shareholders’ equity	7,198	8,688
Noncontrolling interest	199	529
Total shareholders’ equity	7,397	9,217
Total liabilities and shareholders’ equity	$ 21,982	$ 23,483

XML 33 R45.htm IDEA: XBRL DOCUMENT

Shareholders' Equity, Comprehensive Loss and Noncontrolling Interest (Details Narrative) (USD $)	3 Months Ended
	Mar. 31, 2013
Notes to Financial Statements
Cash paid to DHI in accordance with letter of intent	$ 250,000
Shares to DHI in accordance with terms of letter of intent	50,000

XML 34 R6.htm IDEA: XBRL DOCUMENT

Consolidated Statements of Cash Flows (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2013	Mar. 31, 2012
Operating activities:
Net loss	$ (994)	$ (862)
Adjustments to reconcile net loss to net cash used in operating activities:
Unrealized gain on derivative instruments	(3)	(66)
Depreciation and amortization	7	14
Loss on equity method investment	313	109
Gain on warrant liability	(99)
Employee stock option expense	125	174
Deferred income tax benefit	(169)	(109)
Amortization of discount on long-term debt		53
Property abandonment and impairment	10
(Gain) on asset and equity security sales		(332)
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	(14)	239
Accounts payable and other current liabilities	33	(111)
Net cash used in operating activities	(791)	(891)
Investing activities:
Additions to mineral properties	(362)	(335)
Additions to other assets		(9)
Proceeds from mineral property sale receivable	4,000
Proceeds from sale of marketable equity securities		353
Net cash provided by investing activities	3,638	9
Financing activities:
Short-term borrowing (net)		787
Proceeds from exercise of options	183
Noncontrolling interest contribution, net		50
Proceeds from long-term debt	1,000
Payment to noncontrolling interest	(250)	(150)
Net cash provided by financing activities	933	687
Net increase (decrease) in cash and cash equivalents	3,780	(195)
Cash and cash equivalents, beginning of period	616	432
Cash and cash equivalents, end of period	4,396	237
Supplemental disclosure of cash flow information:
Cash paid for interest, capitalized to mineral property	35
Supplemental disclosure of non-cash activities:
Capitalized non-cash interest	145
Loan to noncontrolling interest		49
Issuance of stock to noncontrolling interest	77	41
Transfer of contra-noncontrolling interest to noncontrolling interest upon earn-in		531
Disproportionate share entry from noncontrolling interest to additional paid-in-capital upon earn-in		$ 2,983

XML 35 R35.htm IDEA: XBRL DOCUMENT

Short Term Debt - Short Term Debt Three Months (Details) (USD $)	3 Months Ended
	Mar. 31, 2013	Mar. 31, 2012
Debt Disclosure [Abstract]
Interest UBS short-term credit line	$ 8	$ 13
Interest RBC short-term margin loan		4
Total interest, short-term margin loans	$ 8	$ 17

XML 36 R22.htm IDEA: XBRL DOCUMENT

Short Term Debt (Tables)

3 Months Ended

Mar. 31, 2013

Debt Disclosure [Abstract]

Short Term Debt Total


(in thousands)
UBS short-term credit line
Beginning balance December 31, 2012	$ 1,500
Borrowing	900
Repayments	(900)
Ending balance March 31, 2013	$1,500

Short Term Debt Three Months

(in thousands)	Three months ended March 31,
	2013	2012
Interest UBS short-term credit line	$ 8	$13
Interest RBC short-term margin loan	-	4
Total interest, short-term margin loans	$ 8	$17

XML 37 R36.htm IDEA: XBRL DOCUMENT

Short Term Debt (Details Narrative) (USD $)	3 Months Ended
Short Term Debt (Details Narrative) (USD $)	Mar. 31, 2013	May 07, 2013	Dec. 31, 2012	Mar. 31, 2012
Debt Disclosure [Abstract]
Kinross Shares in UBS Brokerage Account at Interest rate of 2.25% Plus 0.20%	460,000
Interest Rate	0.0245			0.0248
Amount Available to Borrow at UBS While Maintaining 40% Value in Kinross Shares	$ 2,000,000
Equity Value in UBS Brokerage Account	0.59	0.51
Balance Outstanding UBS Credit Line		$ 1,200,000
Number Kinross Shares in RBC Brokerage Account			210,000
Minimum Equity Value Required RBC Brokerage Account			0.35
Equity Balance RBC Brokerage Account	1.00

XML 38 R24.htm IDEA: XBRL DOCUMENT

Fair Value (Tables)

3 Months Ended

Mar. 31, 2013

Fair Value Disclosures [Abstract]

Fair Value Assets and Liabilities at March 31 2013

(in thousands)	Level 1	Level 2	Level 3	Total
Assets
Marketable equity securities	$5,683	$ -	$-	$5,683
Liabilities
RMB warrants	-	1,039	-	1,039

Fair Value Assets and Liabilities December 2012

(in thousands)	Level 1	Level 2	Level 3	Total
Assets
Marketable equity securities	$7,093	$ -	$-	$7,093
Liabilities
RMB warrants	-	1,138	-	1,138

XML 39 Show.js IDEA: XBRL DOCUMENT /** * Rivet Software Inc. * * @copyright Copyright (c) 2006-2011 Rivet Software, Inc. All rights reserved. * Version 2.1.0.1 * */ var moreDialog = null; var Show = { Default:'raw', more:function( obj ){ var bClosed = false; if( moreDialog != null ) { try { bClosed = moreDialog.closed; } catch(e) { //Per article at http://support.microsoft.com/kb/244375 there is a problem with the WebBrowser control // that somtimes causes it to throw when checking the closed property on a child window that has been //closed. So if the exception occurs we assume the window is closed and move on from there. bClosed = true; } if( !bClosed ){ moreDialog.close(); } } obj = obj.parentNode.getElementsByTagName( 'pre' )[0]; var hasHtmlTag = false; var objHtml = ''; var raw = ''; //Check for raw HTML var nodes = obj.getElementsByTagName( '*' ); if( nodes.length ){ objHtml = obj.innerHTML; }else{ if( obj.innerText ){ raw = obj.innerText; }else{ raw = obj.textContent; } var matches = raw.match( /<\/?[a-zA-Z]{1}\w*[^>]*>/g ); if( matches && matches.length ){ objHtml = raw; //If there is an html node it will be 1st or 2nd, // but we can check a little further. var n = Math.min( 5, matches.length ); for( var i = 0; i < n; i++ ){ var el = matches[ i ].toString().toLowerCase(); if( el.indexOf( '= 0 ){ hasHtmlTag = true; break; } } } } if( objHtml.length ){ var html = ''; if( hasHtmlTag ){ html = objHtml; }else{ html = ''+ "\n"+''+ "\n"+' Report Preview Details'+ "\n"+' '+ "\n"+''+ "\n"+''+ objHtml + "\n"+''+ "\n"+''; } moreDialog = window.open("","More","width=700,height=650,status=0,resizable=yes,menubar=no,toolbar=no,scrollbars=yes"); moreDialog.document.write( html ); moreDialog.document.close(); if( !hasHtmlTag ){ moreDialog.document.body.style.margin = '0.5em'; } } else { //default view logic var lines = raw.split( "\n" ); var longest = 0; if( lines.length > 0 ){ for( var p = 0; p < lines.length; p++ ){ longest = Math.max( longest, lines[p].length ); } } //Decide on the default view this.Default = longest < 120 ? 'raw' : 'formatted'; //Build formatted view var text = raw.split( "\n\n" ) >= raw.split( "\r\n\r\n" ) ? raw.split( "\n\n" ) : raw.split( "\r\n\r\n" ) ; var formatted = ''; if( text.length > 0 ){ if( text.length == 1 ){ text = raw.split( "\n" ) >= raw.split( "\r\n" ) ? raw.split( "\n" ) : raw.split( "\r\n" ) ; formatted = "

"+ text.join( "

\n" ) +"

"; }else{ for( var p = 0; p < text.length; p++ ){ formatted += "

" + text[p] + "

\n"; } } }else{ formatted = '

' + raw + '

'; } html = ''+ "\n"+''+ "\n"+' Report Preview Details'+ "\n"+' '+ "\n"+''+ "\n"+''+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+'

'+ "\n"+' formatted: '+ ( this.Default == 'raw' ? 'as Filed' : 'with Text Wrapped' ) +''+ "\n"+'

'+ "\n"+' '+ "\n"+'

'+ "\n"+'

'+raw+'

'+ "\n"+'

'+ "\n"+''+ "\n"+''; moreDialog = window.open("","More","width=700,height=650,status=0,resizable=yes,menubar=no,toolbar=no,scrollbars=yes"); moreDialog.document.write(html); moreDialog.document.close(); this.toggle( moreDialog ); } moreDialog.document.title = 'Report Preview Details'; }, toggle:function( win, domLink ){ var domId = this.Default; var doc = win.document; var domEl = doc.getElementById( domId ); domEl.style.display = 'block'; this.Default = domId == 'raw' ? 'formatted' : 'raw'; if( domLink ){ domLink.innerHTML = this.Default == 'raw' ? 'with Text Wrapped' : 'as Filed'; } var domElOpposite = doc.getElementById( this.Default ); domElOpposite.style.display = 'none'; }, LastAR : null, showAR : function ( link, id, win ){ if( Show.LastAR ){ Show.hideAR(); } var ref = link; do { ref = ref.nextSibling; } while (ref && ref.nodeName != 'TABLE'); if (!ref || ref.nodeName != 'TABLE') { var tmp = win ? win.document.getElementById(id) : document.getElementById(id); if( tmp ){ ref = tmp.cloneNode(true); ref.id = ''; link.parentNode.appendChild(ref); } } if( ref ){ ref.style.display = 'block'; Show.LastAR = ref; } }, toggleNext : function( link ){ var ref = link; do{ ref = ref.nextSibling; }while( ref.nodeName != 'DIV' ); if( ref.style && ref.style.display && ref.style.display == 'none' ){ ref.style.display = 'block'; if( link.textContent ){ link.textContent = link.textContent.replace( '+', '-' ); }else{ link.innerText = link.innerText.replace( '+', '-' ); } }else{ ref.style.display = 'none'; if( link.textContent ){ link.textContent = link.textContent.replace( '-', '+' ); }else{ link.innerText = link.innerText.replace( '-', '+' ); } } }, hideAR : function(){ Show.LastAR.style.display = 'none'; } } XML 40 R7.htm IDEA: XBRL DOCUMENT

Business and Significant Accounting Policies

3 Months Ended

Mar. 31, 2013

Accounting Policies [Abstract]

Business and Significant Accounting Policies

1. Business and Significant Accounting Policies

Business

Investment in Kinross

Equity method investments

Employee stock compensation plans

Solitario’s outstanding options on the date of grant have a five year term, and vest 25% on date of grant and 25% on each of the next three anniversary dates. Solitario recognizes stock option compensation expense on the date of grant for 25% of the grant date fair value, and subsequently, based upon a straight line amortization of the unvested grant date fair value of each of its outstanding options. During the three months ended March 31, 2013 and 2012, Solitario recorded $125,000 and $174,000, respectively, of stock option expense for the amortization of grant date fair value with a credit to additional paid-in-capital.

Earnings per share

Marketable equity securities

The following tables summarize Solitario’s marketable equity securities and accumulated other comprehensive income related to its marketable equity securities:

(in thousands)	March 31, 2013	December 31, 2012
Marketable equity securities at fair value	$5,683	$7,093
Cost	851	851
Accumulated other comprehensive income for unrealized holding gains	4,832	6,242
Deferred taxes on accumulated other comprehensive income for unrealized holding gains	1,802	2,328
Accumulated other comprehensive income	$3,030	$3,914

The following table represents changes in marketable equity securities.

(in thousands)	Three months ended March 31,
	2013	2012
Gross cash proceeds	$ -	$ 353
Cost	-	21
Gross gain on sale included in earnings during the period	-	332
Deferred taxes on gross gain on sale included in earnings	-	(124)
Reclassification adjustment to unrealized gain in other comprehensive income for net gains included in earnings	-	(208)
Gross unrealized holding loss arising during the period included in other comprehensive loss	(1,410)	(1,086)
Deferred taxes on unrealized holding loss included in other comprehensive loss	526	405
Net unrealized holding (loss) gain	(884)	(681)
Other comprehensive (loss) income from marketable equity securities	$(884)	$(889)

XML 41 R3.htm IDEA: XBRL DOCUMENT

Consolidated Balance Sheets (Parenthetical) (USD $)	Mar. 31, 2013	Dec. 31, 2012
Preferred stock
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued
Common stock
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	34,647,458	34,479,958
Common stock, shares outstanding	34,647,458	34,479,958

- Definition

Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation.

+ References+ Details

- Definition

Face amount or stated value per share of nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer); generally not indicative of the fair market value per share.

+ References+ Details

XML 42 R17.htm IDEA: XBRL DOCUMENT

Subsequent Events

3 Months Ended

Mar. 31, 2013

Subsequent Events [Abstract]

Subsequent Events

11. Subsequent events

On April 24, 2013, Solitario borrowed an additional $1,000,000 on the RMB Loan and as of May 7, 2013, owes $3,500,000 on the RMB Loan.

XML 43 R1.htm IDEA: XBRL DOCUMENT

Document and Entity Information	3 Months Ended
Document and Entity Information	Mar. 31, 2013	May 07, 2013
Document And Entity Information
Entity Registrant Name	Solitario Exploration & Royalty Corp.
Entity Central Index Key	0000917225
Document Type	10-Q
Document Period End Date	Mar. 31, 2013
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		34,647,458
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2013

XML 44 R18.htm IDEA: XBRL DOCUMENT

Business and Significant Accounting Policies (Policies)

3 Months Ended

Mar. 31, 2013

Accounting Policies [Abstract]

1. Business and Significant Accounting Policies

1. Business and Significant Accounting Policies

Business

Investment in Kinross

Solitario has a significant investment in Kinross Gold Corporation (“Kinross”) at March 31, 2013, which consists of 670,000 shares of Kinross common stock. Solitario did not sell any of its shares of Kinross during the three months ended March 31, 2013. During the three months ended March 31, 2012 Solitario sold 30,000 shares of Kinross for net proceeds of $353,000 and recorded a gain on sale of $332,000. As of March 31, 2013 and December 31, 2012, Solitario has borrowed $1,500,000 in short-term margin loans against its holdings of Kinross shares. The short-term margin loans are discussed below under, “Short-term debt.” Subsequent to March 31, 2013 Solitario sold 10,000 shares of Kinross for proceeds of $54,000 and as of May 7, 2013 we own 660,000 shares of Kinross common stock which have a value of approximately $3.48 million based upon the market price of $5.38 per Kinross share. Solitario’s investment in Kinross common stock represents a significant concentration of assets, with the inherent risk that entails. Any significant fluctuation in the market value of Kinross common shares could have a material impact on our liquidity and capital resources.

Equity method investments

Employee stock compensation plans

Earnings per share

Marketable equity securities

The following tables summarize Solitario’s marketable equity securities and accumulated other comprehensive income related to its marketable equity securities:

(in thousands)	March 31, 2013	December 31, 2012
Marketable equity securities at fair value	$5,683	$7,093
Cost	851	851
Accumulated other comprehensive income for unrealized holding gains	4,832	6,242
Deferred taxes on accumulated other comprehensive income for unrealized holding gains	1,802	2,328
Accumulated other comprehensive income	$3,030	$3,914

The following table represents changes in marketable equity securities.

(in thousands)	Three months ended March 31,
	2013	2012
Gross cash proceeds	$ -	$ 353
Cost	-	21
Gross gain on sale included in earnings during the period	-	332
Deferred taxes on gross gain on sale included in earnings	-	(124)
Reclassification adjustment to unrealized gain in other comprehensive income for net gains included in earnings	-	(208)
Gross unrealized holding loss arising during the period included in other comprehensive loss	(1,410)	(1,086)
Deferred taxes on unrealized holding loss included in other comprehensive loss	526	405
Net unrealized holding (loss) gain	(884)	(681)
Other comprehensive (loss) income from marketable equity securities	$(884)	$(889)

- Definition

Disclosure of accounting policy for computing basic and diluted earnings or loss per share for each class of common stock and participating security. Addresses all significant policy factors, including any antidilutive items that have been excluded from the computation and takes into account stock dividends, splits and reverse splits that occur after the balance sheet date of the latest reporting period but before the issuance of the financial statements.

+ References+ Details

- Definition

The entire disclosure for all significant accounting policies of the reporting entity.

+ References+ Details

XML 45 R4.htm IDEA: XBRL DOCUMENT

Consolidated Statements of Operations (USD $) In Thousands, except Share data, unless otherwise specified	3 Months Ended
	Mar. 31, 2013	Mar. 31, 2012
Costs, expenses and other:
Exploration expense	$ 362	$ 524
Depreciation and amortization	7	14
General and administrative	627	671
Gain on derivative instruments	(3)	(66)
Property abandonment and impairment	10
Interest expense		68
Interest and dividend income	(54)	(8)
Gain on sale of assets		(9)
Total costs, expenses and other	949	1,194
Gain on sale of marketable equity securities		332
Gain on warrant liability	99
Net loss of equity method investment	(313)	(109)
Total other income (expense)	(214)	223
Loss before income tax	(1,163)	(971)
Income tax benefit	169	109
Net loss	(994)	(862)
Less net loss attributable to noncontrolling interest	3	192
Net loss attributable to Solitario shareholders	$ (991)	$ (670)
Loss per common share attributable to Solitario shareholders:
Basic and diluted	$ (0.03)	$ (0.02)
Weighted average shares outstanding:
Basic and diluted	34,589	34,216

XML 46 R12.htm IDEA: XBRL DOCUMENT

Derivative Instruments

3 Months Ended

Mar. 31, 2013

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments

6. Derivative instruments

RMB Warrants

Ely Warrants

Covered Call Options

- Definition

The entire disclosure for the entity's entire derivative instruments and hedging activities. Describes an entity's risk management strategies, derivatives in hedging activities and non-hedging derivative instruments, the assets, obligations, liabilities, revenues and expenses arising therefrom, and the amounts of and methodologies and assumptions used in determining the amounts of such items.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 815

-SubTopic 30

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=7668309&loc=d3e80784-113994

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 815

-SubTopic 10

-Section 50

-Paragraph 4C

-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624171-113959

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 815

-SubTopic 10

-Section 50

-Paragraph 4E

-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624181-113959

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 815

-SubTopic 10

-Section 50

-Paragraph 4K

-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5708775-113959

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 815

-SubTopic 10

-Section 50

-Paragraph 1A

-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5579245-113959

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.4-08.(n))

-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 815

-SubTopic 10

-Section 50

-Paragraph 5

-URI http://asc.fasb.org/extlink&oid=7476318&loc=d3e41641-113959

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 815

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5579240-113959

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 815

-SubTopic 30

-Section 45

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6441202&loc=d3e80720-113993

Reference 10: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 815

-SubTopic 10

-Section 50

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=7476318&loc=d3e41638-113959

Reference 11: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 815

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=7476318&loc=d3e41635-113959

Reference 12: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 133

-Paragraph 44

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 13: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 815

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=7476318&loc=d3e41620-113959

Reference 14: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 815

-SubTopic 10

-Section 50

-Paragraph 4D

-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624177-113959

Reference 15: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 815

-SubTopic 25

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6886632&loc=d3e76258-113986

Reference 16: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 815

-SubTopic 10

-Section 50

-Paragraph 4H

-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624258-113959

Reference 17: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 815

-SubTopic 10

-Section 50

-Paragraph 4J

-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5708773-113959

Reference 18: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 815

-SubTopic 10

-Section 50

-Paragraph 1B

-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5580258-113959

Reference 19: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 815

-SubTopic 10

-Section 50

-Paragraph 4B

-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624163-113959

Reference 20: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 133

-Paragraph 45

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 21: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 815

-SubTopic 10

-Section 50

-Paragraph 4A

-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5618551-113959

Reference 22: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 815

-SubTopic 30

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=7668309&loc=d3e80748-113994

+ Details

XML 47 R11.htm IDEA: XBRL DOCUMENT

Long Term Debt

3 Months Ended

Mar. 31, 2013

Debt Disclosure [Abstract]

Long Term Debt

5. Long-term debt

Augusta debt

The following is the schedule of debt payments due Augusta Resources Corporation ("Augusta") as of March 31, 2013 and December 31, 2012:

(in thousands) Payment date	March 31, 2013	December31, 2012
June 1, 2013	750	750
June 1, 2014	750	750
June 1, 2015	1,000	1,000
Unamortized discount	(221)	(264)
Total	2,279	2,236
Current portion	741	727
Long-term debt	$1,538	$1,509

RMB Facility Agreement

On August 10, 2012, Solitario entered into a Facility Agreement (the “Facility Agreement”) with RMB Australia Holdings Limited, an Australian corporation (“RMBAH”), and RMB Resources Inc., a Delaware corporation (“RMBR”) whereby Solitario may borrow up to $5,000,000 from RMBAH (with any amounts outstanding collectively being the “RMB Loan”) at any time during the 24 month period commencing on August 21, 2012, (the “Availability Period”), after which time any undrawn portion of the $5,000,000 commitment will be cancelled and will no longer be available for drawdown. In connection with the Facility Agreement, Solitario recorded a warrant discount related to the RMB warrants issued at the time Solitario entered into the Facility Agreement. The warrant discount is being amortized on a straight-line basis to interest cost over 36 months, the term of the Facility Agreement. The RMB Loan amounts bear interest at the 90-day LIBOR rate plus 5%, payable in arrears on the last day of each quarterly interest period. The RMB Loan interest rate was 5.28% at March 31, 2013. The RMB Loan may be repaid at any time without penalty. Any amounts repaid may not be redrawn under the Facility Agreement. The RMB Loan is secured by a lien on Solitario’s 80% interest in MH-LLC as well as a general security interest in Solitario’s remaining assets.

The following table summarizes the RMB Loan:

	RMB	RMB	RMB
(in thousands)	Loan borrowing	Warrant discount	Long-term Debt
Beginning balance December 31, 2012	$ 1,500	$(573)	$927
Borrowing	1,000		1,000
Amortization of discount to interest cost	-	54	54
Ending balance March 31, 2013	$2,500	$(519)	1,981

Solitario recorded the following interest cost related to the RMB Loan:

(in thousands)	Three months ended March 31,
	2013
Interest paid in cash	$ 27
Amortization of the RMB Warrants discount	54
Amortization of RMB deferred financing costs	49
Total interest expense related to the RMB Loan	$130

During the three months ended March 31, 2013, Solitario capitalized all of its interest to mineral property. See Note 2, “Mineral property,” above.

XML 48 R23.htm IDEA: XBRL DOCUMENT

Long Term Debt (Tables)

3 Months Ended

Mar. 31, 2013

Debt Disclosure [Abstract]

Long Term Debt Payments Due August

(in thousands) Payment date	March 31, 2013	December31, 2012
June 1, 2013	750	750
June 1, 2014	750	750
June 1, 2015	1,000	1,000
Unamortized discount	(221)	(264)
Total	2,279	2,236
Current portion	741	727
Long-term debt	$1,538	$1,509

Long Term Debt RMB Loan

	RMB	RMB	RMB
(in thousands)	Loan borrowing	Warrant discount	Long-term Debt
Beginning balance December 31, 2012	$ 1,500	$(573)	$927
Borrowing	1,000		1,000
Amortization of discount to interest cost	-	54	54
Ending balance March 31, 2013	$2,500	$(519)	1,981

Long Term Debt Interest RMB Loan

(in thousands)	Three months ended March 31,
	2013
Interest paid in cash	$ 27
Amortization of the RMB Warrants discount	54
Amortization of RMB deferred financing costs	49
Total interest expense related to the RMB Loan	$130

XML 49 R19.htm IDEA: XBRL DOCUMENT

Business and Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2013

Accounting Policies [Abstract]

Marketable Securities and Other Comprehensive Income

(in thousands)	March 31, 2013	December 31, 2012
Marketable equity securities at fair value	$5,683	$7,093
Cost	851	851
Accumulated other comprehensive income for unrealized holding gains	4,832	6,242
Deferred taxes on accumulated other comprehensive income for unrealized holding gains	1,802	2,328
Accumulated other comprehensive income	$3,030	$3,914

Changes in Marketable Securities

(in thousands)	Three months ended March 31,
	2013	2012
Gross cash proceeds	$ -	$ 353
Cost	-	21
Gross gain on sale included in earnings during the period	-	332
Deferred taxes on gross gain on sale included in earnings	-	(124)
Reclassification adjustment to unrealized gain in other comprehensive income for net gains included in earnings	-	(208)
Gross unrealized holding loss arising during the period included in other comprehensive loss	(1,410)	(1,086)
Deferred taxes on unrealized holding loss included in other comprehensive loss	526	405
Net unrealized holding (loss) gain	(884)	(681)
Other comprehensive (loss) income from marketable equity securities	$(884)	$(889)

XML 50 R15.htm IDEA: XBRL DOCUMENT

Shareholders' Equity, Comprehensive Loss and Noncontrolling Interest

3 Months Ended

Mar. 31, 2013

Notes to Financial Statements

Shareholders' Equity, Comprehensive Loss and Noncontrolling Interest

9. Shareholders’ Equity, comprehensive loss and noncontrolling interest

(in thousands, except					Accumulated	Total
Share amounts)	Common	Common	Additional		Other	Solitario	Non-	Total
	Stock	Stock	Paid-in	Accumulated	Comprehensive	Shareholder	Controlling	Shareholders’
	Shares	Amount	Capital	Deficit	Income	Equity	Interest	Equity
Balance at December 31, 2012	34,479,958	$345	$47,107	$(42,678)	$3,914	$8,688	$529	$9,217

Exercise of stock options for cash	117,500	1	182			183		183
Issuance of shares to noncontrolling shareholder for future earn-in	50,000	-	77	-	-	77	(77)	-
Issuance of cash to noncontrolling shareholder for future earn-in	-	-	-	-	-	-	(250)	(250)
Stock option expense	-	-	125	-	-	125	-	125
Net loss	-	-	-	(991)	-	(991)	(3)	(994)
Net unrealized loss on marketable equity securities	-	-	-	-	(884)	(884)	-	(884)
Balance at March 31, 2013	34,647,458	$346	$47,491	$(43,669)	$3,030	$7,198	$199	$7,397

XML 51 R13.htm IDEA: XBRL DOCUMENT

Fair Value

3 Months Ended

Mar. 31, 2013

Fair Value Disclosures [Abstract]

Fair Value

7. Fair value

Level 1: quoted prices in active markets for identical assets or liabilities;

Level 2: quoted prices in active markets for similar assets and liabilities and inputs that are observable for the asset or liability; or

Level 3: Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions.

(in thousands)	Level 1	Level 2	Level 3	Total
Assets
Marketable equity securities	$5,683	$ -	$-	$5,683
Liabilities
RMB warrants	-	1,039	-	1,039

(in thousands)	Level 1	Level 2	Level 3	Total
Assets
Marketable equity securities	$7,093	$ -	$-	$7,093
Liabilities
RMB warrants	-	1,138	-	1,138

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 825

-SubTopic 10

-Section 50

-Paragraph 16

-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13504-108611

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 107

-Paragraph 15C, 15D

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 133

-Paragraph 44A, 44B

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 107

-Paragraph 15A

-Subparagraph a-d

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 107

-Paragraph 3, 10, 14, 15

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 825

-SubTopic 10

-Section 50

-Paragraph 10

-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13433-108611

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 159

-Paragraph 17-22, 27, 28

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 825

-SubTopic 10

-Section 50

-Paragraph 21

-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13537-108611

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 107

-Paragraph 15B

-Subparagraph a, b

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 10: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 157

-Paragraph 32, 33, 34

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 11: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258

Reference 12: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 825

-SubTopic 10

-Section 50

-Paragraph 28

-URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14064-108612

Reference 13: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 825

-SubTopic 10

-Section 50

-Paragraph 30

-URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612

+ Details

XML 52 R14.htm IDEA: XBRL DOCUMENT

Income Taxes

3 Months Ended

Mar. 31, 2013

Income Tax Disclosure [Abstract]

Income Taxes

8. Income Taxes

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 109

-Paragraph 136, 172

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.4-08.(h))

-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 08

-Paragraph h

-Article 4

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 15

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 109

-Paragraph 43, 44, 45, 46, 47, 48, 49

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 9

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32559-109319

+ Details

XML 53 R16.htm IDEA: XBRL DOCUMENT

Segment Reporting

3 Months Ended

Mar. 31, 2013

Notes to Financial Statements

Segment Reporting

10. Segment Reporting

(in thousands)	Three months ended March 31, 2013
	Mt Hamilton	Exploration	Corporate and Other	Consolidated
Exploration expense	$ -	$362	$ -	$ 362
Interest expense (2)	-	-	-	-
Other (1)	7	351	443	801
Pre-tax loss	$ 7	$713	$ 443	$1,163
Total assets (3)(4)	$14,236	$1,395	$6,351	$21,982
Capital Expenditures (2)	$ 515	$ -	$ -	$ 515

1. Exploration expense other includes loss on unconsolidated subsidiary of $313

2. Interest cost of $180 and depreciation of $8 have been capitalized to Mt. Hamilton mineral properties.

3. Exploration total assets include investment in unconsolidated subsidiary of $852.

4. Corporate and other total assets include investment in marketable equity securities of $5,683.

(in thousands)	Three months ended March 31, 2012
	Mt Hamilton	Exploration	Corporate and Other	Consolidated
Exploration expense	$169	$355	$ -	$524
Interest expense	53	-	15	68
Other (1)(3)	12	312	55	379
Pre-tax loss	$234	$667	$70	$971
Total assets (2)(4)	$9,277	$1,895	$9,295	$20,467
Capital Expenditures	$ 355	$ -	$ 9	$ 364

1. Exploration expense other includes loss on unconsolidated subsidiary of $109

2. Exploration total assets include investment in unconsolidated subsidiary of $1,544.

3. Corporate and other includes gain on sale of marketable equity securities of $332

4. Corporate and other total assets include investment in marketable equity securities of $8,921

XML 54 R34.htm IDEA: XBRL DOCUMENT

Short Term Debt - Short Term Debt Total (Details) (USD $)	3 Months Ended
	Mar. 31, 2013
UBS short-term credit line
Beginning balance December 31, 2012	$ 1,500
Borrowing	900
Repayments	(900)
Ending balance March 31, 2013	$ 1,500

XML 55 R21.htm IDEA: XBRL DOCUMENT

Other Assets (Tables)

3 Months Ended

Mar. 31, 2013

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Other Assets

(in thousands)	March 31,	December 31,
	2013	2012
Deferred offering costs RMB Loan	$469	$518
Accumulated Mt. Hamilton advance royalty payments	300	300
Furniture and Fixtures, net of accumulated depreciation	128	143
Exploration bonds and other assets	110	111
Total other assets	$ 1,007	$ 1,072

ZIP 56 0000917225-13-000019-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0000917225-13-000019-xbrl.zip M4$L#!!0````(`/"&J4((?3DPQ6```"\?!0`0`!P`>'!L+3(P,3,P,S,Q+GAM M;%54"0`#0PV,44,-C%%U>`L``00E#@``!#D!``#L75MSVSB6?M^J_0\<3V:V MM\J215(7R[E,.7;2Z^DD]L1.S\S3%DQ"%CH4H"%(VYI?O^<`)$52I,2;W.LD MJ:Z.(@(X'P[.'2#TZB^/"\^XI[YD@K\^,/N#`X-R1[B,W[T^^'+=.[T^N[@X M,/[RYC__PX`_K_[0ZQGO&?7<$^-<.+T+/A,OC4]D04^,GRFG/@F$_]+XE7@A M?B/>,X_ZQIE8+#T:4'B@*9T8=G](C5ZOPK"_4NX*_\OGBV38>1`L3XZ.'AX> M^ES6(,3 M:W1BVQ5'#D@0RF3DP>/Q0/_1W5\]WOH>.\'_&\!T+D\>)7M]D)K,@]T7_MV1 M-1B81__X^.':F=,%Z3$N`$=>A#W\AC_6M3/G$ZG1^IIW'2C)1*/:=A'^/B6 MR/7("'!+^PTD\-0-D@[IQJ,C_3#3E!4V'>NF+&[JTEP[29W^G;@_@@?0WK1Z M`[-GFW%SG\Y*(8^/X&G+HIQN8%_%*R6]`@:]:`5]9D3]_O'U8>DDQ0>"XC/Q*,/ MFK!`*O;`!AJQW.):GT@E49_IS%!BKVX??]1N@?14Z3[^D`RU-T# MXR@>28NQ(WA`'P.#N:\/WOMB@0/@M`9F(/1GN[G64[[PF=U1(+Z*V!#8*=Q,%B+L21%$]BWNEG/6I*B">Q;W4:P%L^7 M2=$$]BU)QSUS\'R9%$U@KZ'6(!5J#9YE.)`)M09-0JU!-HKH-M0J3T+_]TPL M%H)?!\+Y^I$N;JG_NW%^S4QZMZ`I&4L>N0`&$G+FL$!C-5P&+75Y+BH\G&"E MB6+_=_\*`3>6UP2'?\K31R8/WL3--N;]ZJB01!K>43&^;SF?CC*M'V+R>XG) M4V6]V?K)C_7^?[#>>RT%;7$)IZ[+`F`>\:X(]*AHHG_T-X*MLAQPD7H0>TW,M@3GWDLT_GN!KW](([ M8D&_*WFJS(\?(E95Q&X$&/7K>'_P>DZ`G$SJ:]7XKL0KW]F[S%OI_PA!0>0=PT_#5XD,=8-&J*Z#GE8L'X M+K*[^9*G6S1P_#S#A0H,O0(R.Y9L"1^K+YA+V;]P\<"O08(A:',OI`S!Z%/*U/Z)EF?7:)M4%9HS8/>=\*NKU/6">'CX M.QE>'0,G?)6&D!FZ2!'TDFL!?@_?59_LWW)*L#%2.3F4L'K$\',1N62D@K5< ME^&UI[L,`XP!\.A]AF[N+(*!5E@]B!RDX5*'`;/EZX.+3^\/WMC#\7`R'!UG MEGH+L1A:LC]`Y/R4N_@7YC_WQ%.I3W!&?'\%[=7Y]A*$BAMKA!B*I.#U[(,W M0WLZ!F/[ZJ@6N!5D?P*C'/RO&N`;QN^#0QAUD[THYFI`K&;DB^6BR1\Z85R)_3&84' M[@UY_,#(+?,Z"M6S,W)>.W@%'1F=A-8'3( M"'N0%]F.J%2^:FY"!SG=V$:E+:)J5K4=(I_=DX#=TY1LM;`;]C0'I6#XQA@J MQN*Y,DPE#)#3:Z:IDF;=BN2C9"><>:\/`C],7VU0<_22^>T:/56+;5=*M7/E MA?S`30A7,W2Y]'87X9*3QLU#[,DP9VE+*+0`4HD1PXF9R^$J`LF?FTV=>P1S M@.>%&C.G-[3'XZQ:[Z;6#;Y*/.L-K?'DN"6^"N=$/PB)Y9[+&81D+0**S6RN M#N$]X*Z8_YG#+G$KW=;'):4NEK2HBN9RT\VQFU&OQ)CC\7%=ZA\9%SY\'Q_P M:^YNIUFUS`_H0W>0(2XH6X67B%>[F"GP:!SV[#`#/@&U%\$+*Y MA-C3R8XU:H+GZ699+8.TS*>892J(.N5NAWJ\6<7;1:H+:`TK?W6A92/`*^)? M^NI0L*OBFROJJUWTRKR[*MFJ'_3QF&0]HMU!+>3ETT'5A$[#8`[&Z-_4K<;- M$GCF()]6;2?6'MHF]YX0FCJ'5)-C];*>773*IU\C_WDBQ:I`L2.0+52J'Q2HL:YK9`= M-#N`6)N!XXG9!N*Z4GS!H:DZ=BNQBOZ9.N*.HQ>XX+JVT8V.EM2I=U+O&'A] M/N>W3QLCC[/,:$5P0Z=%MOQ30*8,"8CEN7KKAKN:.>MS4ZJD MUHF,C8:%\';1[A)S;986<[0N9!1`+$%>\G,FET*J,OKEK.`04'="5IMF;=YD M"V];Z15NSY\)QU2^;-!:UDV9H4R=OC;R!X M4ZN#&>#-)K`TF]W6-YVDBMU=B:8.V^O1[@YQ?5Z/)X,6B)-4.-J>CLMQ;XED MC@ISO##(56^J,K>L-M@;]`=V*@O?3KH#I#N9N@VIU1CIWRF[F\/WI_?@RN_H MIQ!O2;F918$O\4I^0[:M8VE916\&I4CK,2D/U,I8&VCT;3IYM*<2+6V;K856=2BF-?V^YM-E:' MVK#%P]-1^XKOUV\G6@7(.L7 M%.R-'9:6($\=!P3!S1[J5G6*9$>P[-7$QK9_8[NA%::GF&.#*,0T]SI+<./H MO*]\@><"W+>K+Q)3\Z3KJ1.P^^[6K#?)O258G7ZWR!L$/ZV1H[FZ(BOE]#\2 M%^_ZB=]-E#=BXV*DCG*85,Q6@WB'F)O8]U$;S,D+=NNVJ3MT3A=X[CAS4 M)=F@3%GX;FL1O=8*C_EF-4=9= MU$91T?[HP+Y[RVF/J>\PV7"W=[-NN45. MBJAV`K.##:\TW?AMTG1A[0FTN2K9^B?@\R]K;:>Y@3'R(3?BU($]32*+YW5MT#GP]MN3*>J)^Z\]K88 M0=?HFU1N1ZW1ZR(4X2IJ*G^#O9O\OSJAVLP8IFMJ150R6\E2AH0[]'*F[/!> MS[Y-)NO-XVID.T):GX5F&Z0W/N%RAJ=5<%?<)\4]RD;ZLA0<3R-=-'T-:9O8 M[1-:?8]EK]G<%;"\*=KDJ?\S8GATD.T#8X"3AN`E$7)CM9Y,ZJA[W MIFN;M8M@6W`MR\0[CF9TQ9#XU$HEDJWQ-3^Q4@M?DI&GWC&\G.'+2^=,JIM> MKWRZ8.%B7Y6')G0;F+5L^6$7T4P9*8K:/U.'@A3C9==1[@T)=Z:64_D73;8[ MNOC5])K$.\3<<5J77'Z[QY?\:M&K+3^3XTEY=IVF5K0(V"A];V5WFWMY*\9QPBM^[+3-/&Z;E].JCF@MN$-DTLPUOKB+A)053)Z!P'W M"L4YE8[/EO&M#/HB?'6G M&OXN+Y4W,).W'F2D5;G]YL]>\')IR&#ET=<'"^+?,7YB#);!P9_O@I?X\&BI M/OW1M*/_I3O,@,J)84)[XX8MP"!]H@_&9[$@_%!_<6A<0^0]>VDD0QN#_FC$ M.'Y(:-SB![.O?B_QC^9X\++-IYA7"BWAKG'-[CB;,8?PP%BSS(AYIB9Y^V33 M72-^(N:&^"%A"A(-O[G)OC10V'N,XX_;GN`#QO,(GN!3>6&+Q&-A%[K`\JGY]T/CI-@P,+@)H M%'\%#`GFU%B/>[[NK6!=XPAI&B%PS387,('P+W69ES12VXRH9>\>G3GA@`TO(()^,.M#XX$%<\`V4[\_"&R(9@+J MIZ#@H!^#OO$_9,&\`)Z#X?R-.H$!)@PO#,/)?*+WQ"5]P&>0J%YN!,)@@2SL M"F*2_!8KT65VC0]W.)"9:)AGT$088J9`J(MN1*A;W6+Q>4'Q'F6:6K[E>I]^ M)GQC%@:A3PT)VH)3!H,/"1&3 M\V1-Q`Q)P!@*!'R\53_^`=BI?T]EWSCU@KD([^:IV0%5RF%*,&C$5J.,GVFF MS&%9.;3WXU[4U9;26.BT+)[L"J@&QD?B.W/#-@\-]!JI@?Y+YCLH20`6I!9O M0VH.C8_TD3GBT'CKDW\S3\WWBOIA_UNV1]8D=JA/8(1NYE0OJ!.9!'1V*"P^ M4Z4,%ZLP*DJ4L):N6JJ9#NYA+24ND[Z2`(1R+38H]KB:P=RGH"'`G;DT0/Z@ M"'FTP7,U`&+`8Q8*1"N4#:2J1MH02L]SW"9=#R!/PLM0_00,NL(6H-!Z.'E@0`@@R!!<9FAQE,Q/TMC$XV M'ZKE86I?'^PFP(%^7/@0<@)<_,T)M:A`#)IRZH!G)V"Z%2AC1IB/+)8PDC)? M:#S5\BLD\"#T`JVJR):X._/0>;C`.BR3(L&H)9CQ.8,57I"5<0M0G3D#RY$L M0&0,T2Q&,C(+838K2GP4$`1Z#B3P35T4$H4!!>6;UOBGC4!`TJ46LT)%EN`Z M/!?7#MR26C>0KM]"[BC?IK1.+5M17U19CC\1A4U\"LY&"P-*3R2\:L2-Z&7\ M4D?@IUI)]"\G8PSP'L08V-S[)9&76%1@I+2D*"NBU#BC@U'8;D@:X`@`7@FB M`,>]12$3:X0$)?ZV.U%3*APZ#)A.I2,1U_9*AP*@%P&RNT3MZ2.:#1Q\(5S( M.M"XHE8NT4GZ#!HJ)+$]+A@DJ[K?E))D*U22039#!6UH8@FZ*B;2X'?POG:3X4>+E,F"!0>G217OI`ILX:C&*D1W%#YQ4IQ2M\X M5ZV31&17#RL%22)S[/1DTC!0X3E%1=8%;WSVPA[9JCD:5'#A$/-@;&'<$<8U M([C*)W1;V\*V$("KO@4!UH:=S(?XM\+WQ0.0>&$>C@8:*:RNQ*V"'MB>122F M$*T3#A*!.*1.1I"WF"WAS2?I:>F):H-<.@Y86(RM0HDQYBWD%P\ZOSQ,9:37 MZ\XNO0WZ:SDR\/@3A&-Q7@3N)C?YW!J8V]8@P__1,&$_B;BZPBQ7C?H`?'_@ MQGA<53XCX9Z3>\SR[M4O$$%39>8?V0),.413+^S^\!BR),]#_<'4TC7"I=`^ M9:%.RF)(Z>A%'_6M8P/RJ"R_^SIG+_"N)7J;0>G3R)GD=1ZTTJ$\6/LTHLX_ M'ZZC`<;1WT-3G\FO\`W1*X*.B7F8D8(BID><>:$3A'H\EIEBPIT\1+UHC@I. M(DXBYWQTAPQ2%T?%"R+T#8]!B`XYQ"HIZCG1KQW!"-``(MAOP%-FW6/TNQ$+ M]=9C:K%_N,A]N\@H)-1&!*UA5M.NJ.L3K%]PAQB06^KM;(>(0^-#X&9J>E=O M/VY6VE0)*+.XVB#]-02;86E#-]!YTL.<%!G5 M(DT(`FJNW,O(_)/._?$0'&)_^S'M6JE''1P+W2O86NV799=: MI.C$ENF%;2K/F:C^"W,PQ2\.4?F7%+_!C4JT&3C>:B((7X32_`3M3&I&_6RP]L8(%T]X# MZT>4RZ@$ZH%__SY,S],F[Z69LTC]1H#0KT(84?"`53L4TCL?76_D.V=8ME&Y M-(96ATIB4?@-:_0G57S/=%+RK!]0`@H9B3\'1FBMC?2-PZB^JBYA?YFV'GY\ MQ;:,!$:CS,H-C=Z^+42.*JE`:.+Z2]5D;68.$\6727"(ZIZ*IR"V@5`&KX:# M2($#+]*WXT=CA\H00(]"(M@J9@,:D0+>ZTCLO(EM.\PQ39FY%Z8U2D+2%^9D M6&33`$Z:M3H$BS@:ET_RLRV>8+05XX!M9\ MZ<'X*;OAI]KC@U1$T#>^8.RQ3G;!0LA8-9(.A^J?;P6!(`">G3,0UD``'BS] M:K$*ER@[UN%QE%/&A@F^3)JCV$)6H"8"LDTCKR*5#$8BK%_ITNF/\MD@AM'V M6#XS*F17)LTAP:9MV8\0K\7J._)0-Y@)ZGB4JDT#\!(/R'UBZI8/CA]/_:^];FMG%DT;^"2CFU3I6D$:EWK'">9\=DD3L7);MU/ MMR@)MGE&)C4D9FX4?J[]NERW=`'=@%BEF3,+-6&@AC[+6Q+B=N8DV7_&.E51DGOO` MT)>G84IGULKGX2IZ>PN0A;(`96NW0Y#EJ)?,4+$+"Z(M1[8&C=;0[+=&_7$& M04^6A^I^-Z1/:@$G%5=<_R#T0_A1FI368#4>GO_A"S]5W%(#T'O8,!TL5C%; M6+[/P[08%WNT[`4^W8:MN\W",6'*R@P$W^8VA70T%6&`4`4R%-B)].^5BRM& MF+?"SI9@NT\.G?-0RLR%(SI+"]F`*PMV`)@Y19)'`D=>!Z-SZ,\%R=LK$YL"`H\?=>2*":`F5(D;$ MMR/7`Y\WOB>)L$,BLRD*JX?1'#>J1%V+'MI7F``EY]9=+-PGIOY1;$!*5@_P M%'`E^\RT)F$,'3^9QUE0!J0]`?TEFX3W;1X3^/,SNECX2PNOEOS^JON*_;W$ M[4C\79I13_8\N,='NZ_?81P4A*P]`U992Y^^)>&G5S$^B(H7PGG$3$;8U-K6 MPKX#=D_=('`?XJ?G#G``\E5JA(,2)F M>=FWSVS(+'UN9^QEKKNT M'=<0IUJCCG0;UDI:BP3N\AT1*+:9_+\E@TY_&<3?+NAM_.4&G5+X2`=H`Y.< MWU^9KS8K-P68Y1Z#?JPYC=?VO3P^Q)K,.@ZTL_U:1T^7Y(\KXU\XI!K"TR$) MKP+)]RNC"+P4)5^RRK7*UOBH,U"DJV3]U#P-U,OSA#1(&M:]%7?%Y&._J[9A M(G-8Q7-NF/TW#96G[S2,=//PL%1L`$-XDI^*21@*&7.'E'2"Y?E'V75(YOE2 M++2U3>;Q&5;G9G?<5/'CFUN&-Y3%[2W/]E,)8/'65D+Z9-'*\N8MPOOE#9LX MH]4WN@6"OX?`K#L>-E6HUO?(/`&3!*.D2*D7HZ88QP-S>/RV?K\[:+PI]Q6V MO@S!/$L/O_Q\I]\_'X_X.:NO`R`_'1E,UVW6&UA'R$MI4F'Z[*>GJ6*?E M[*B%"K&?;).J^J)D18(TV<&A_,JONU95H&YL@KBO1 MUARHWI07S^C3E6AU)5I=B597HM65:'4E6EV)5E>BK77)ZTJTIUZ)-CX2%CO1 M)1IV1AXU`'Z3`K6R"\>CO M/@O>5!SSW4N"6;"INR_"HN<`MV5;X';.%2V127)Y^^X7AL_ MN\?Y38W38[K>K:YWJ^O=ZGJW=:X]7>]6U[L]=!587>]V&XFZWNV=KG?;D,JR MNMZMKG>KZ]WJ>KK:YWJ^O=;ONT!R>-KG>KZ]WJ>K>ZWJVN=WOH6ERZ MWJVN=ZOKW:J1G:;0)?GC=+U;7>]6U[O5]6YUO5M=[U;7NSW0YJ;KW>IZM[K> M;4.,8UWO5M>[U?5NFRDRNM[M$6-?HMXMO^51.+TY.R=*-".CI+KTS04V?IZ2P]G:6GL_1TEI[.TKO367HZ2T]GZ>DLO0WG MCPI'"?E,(JZ973E9(Y[*">0P'@&=5*:3RG12F4XJTTEE.JFLR0Y0G536*%'2 M264ZJ4PGE>FD,IU4U@@E<7R&E4XJTTEE.JE,)Y7II+)FB:E.*FLF\CJIK(G3 M\@*3RDK$8N00CNC!&>O'06X_+SY M("/2!30&O0B/#:!DC/X`Y0V/P%F\'HQZ9H31!E#)67*]X`?U'KZPPA"?L878 M>]&X[()W)*L@-^NH&8.N/&OE@*I&V&S#__:%<"@:.*]C))[M+SF=XR;W%[F_VW,8.(BH$THB72$GPBC$W)KGJJ`Z88YB`6W)'S5N)=F^ZBO M!'?^FG\1%OW]Y'KL!6R>P;IP9*R[;KL[:IL%]A]S+*F&;9`R58'+ZV+['Z-> M`BKF?31<5PIKD(KA8ZI`:%0`'3.!3UR(_8.H+\X?OXY+KTM2H M?J)4IF8IC4<18V/4G93%`R/)60]79<5X8(C31<[`58$7H;\4<"EE\/KR"E3* MS\A9\B?WE?S!`@<5&=$?]TR.3$%`BG`KPB=8-]5Q"]V?/]#[F7Q?+0>-<5=@ M61JDA;[8`*Z+TOL(&5@LCRL(KRP5SB])E M@++=%UF/7XF@R943=7Q2SQ05*)26EG!#*`L\5YM=.YN'JH%Q.\,ORS700/T, MK;H-=/+Y[GA8&=&$F.Z'LP-SF+%$]HYV63[WNX.=T?Y* M@\P74-B5".UX+-3/)DB[8%1:.H=CHQQ&P#+!0_=!Y3Z1PZBMX';&K33+QN-) M!=PNG+N%>X5W":@?8//X0MZ^;RN/KKDJ.N')-#UF`M[4MH]]$1';K0\.%5Q*3`=F[;)*\MOM=R76;.WZZQ>H7VZ&>M;ARYBL_\$#8/MC^;.'Z(#!Q7]9J#0JC M>NS+(.HV6&.I=ZRMGZJWWY8*[F.N$[M]TU%49S^N@,!9R.B!`]>2>L$SHW5Z M>*J3"4%[ZNB&[?XL>^%GMW.+>QUB;F(6\]1T7DO^SA(\JG*"'^G"73)->_X33`3\"_UES]Q#:FZSU-K= M.QI'.+E?76]F.4V8VU+W7_:-Q1'.[,7,=6;W=A.F-F<':P861SBUEY836.32 MQ:UV[C9AADO5P-PW%LG,[6>+?//ZJU3_3^69R_+;+Z'=27L+!*'1?]TY";KTP\WL!:$ MEG&>-*5P05]]H=V]UB(;E*D^=:R2]R9HRU" M$U\O/Z6X^UI_>QAOQ4*LZ6C`*F),W2CLB^`4SS-97MNG:X>1\XE.O15>QC7- M%L%08"O.=""6X[@K9X:E>.XIJUNQH*S*F'M++')++=^>V@M6H")8S9^)1WF% M\,`E=N`3>0I18_POG07D'(<*/N:V*+M#.6"_)G^_/GRQ9QGT!AAA"R M&-*"M^?L56?N(^?F/-2)+_`RS9DO^:LI8R>\8!%GQ6+\`.76F@6N%U9&0B:Y MT\"R,V+[9+;R/)#:Q3,2NUQ8,]K1:U/5ISC7"*F:TCN\"+G]>)D72)N_*0%H;#&CVQI)_!'LK&DUZ5QZ5X M.WUN!Y@.V")GXQ@VZ)B9+>HGPI(X,\;=\,=P37<(IS[2"]LX8.8PX,PTN_E4 MP\SE*0K068ND:8^H\-=PZH!)O*J9]$AHI]E(<7(-WUN/%']^I)QH^#AE*6E` M+?4>\868M9;S3-#,P3%A\I+BQO#`8I"2:"U`@F!XZQEI`_R26(&2LA]Y]G%J MF@6M6#N0\@G#6_=6#*QN+7/P',3(`,+D51C#=E9T'O-%FT+J/Y5M?>,@HG MZK!-[MSJ MB[ZGJYGU1=\7,]7ZHJ^^Z*LO^NJ+OL<@6?JB;P,N^H;USPN&I>58MN16%5TY M7VH(6R2LDYQUDC/BH9.<=9*S3G+62M"KI0P^\2H#'HBS%?A11G#%D%9!E*MX#\;(GHISK9S1JR M"L@2\KL-)`L$5J-P4W?&(L.6686IX610/+ZEGH1"XY:@86T\&1@SYA0(6E\T M(T^/5Q96(;J*PDHZD)\K&RGCG@PQ-6H5J(6,E)XY*@8U].U\0K>.,-^4-.$U M^V'?ZBP(E5`HVVO7[(T*HI!T=H@G\J2M(D,,0S!D&[!=$2O+)L,8ET,^&]@FW72)1]I/KO>->K8[5R$[<,K,5EM)4+LA M5997<&8LBU38;3KF;K:&ZYIMT]S:R'H<=3U.CYJT.:.*@M+\,1R_N@%5,3T# M8Q"U8-X";D?,2JM`LUL%,^GWCU(I2%7\@MTIPFH#J"1&<>5)2=0NG/GN2B>! MVUC"K`#(+.FN%3]C++?[W@(PH3Z31L!_L.S=!ZQZIVI6I;;N&V&E>Y%?8RG. M"]^G@73MO%KT_5!-R",84Y9-J[S7.&,10]IB?&+D3/=&V-;2;B^CM!ZO&ZZ>$+S6S[06\J*P;NW M\`$U/Z_:_?W+>_+9M0KD"^\_AZ2?%^UM"H*#8TA_N)C-5@\K7F4ZD0IAS1\M M9T:)YSY;B^"9A.79&\CI7K?4O>WFX-`TS9RTV!&>C7^8"XH%$1/:Z3EWL0(.B(I$CFO#WB(RAA*M MB/_E*NS2XSATQK3L MDQWV4UDGF.]!_=6P'KC3"E^:3VX(&K85@C-.X)1+ISO-LH!F5J^ MS3J*A3V,!"H^[/Z/>-@=B@LB+=X;A'H/40,H:\:[/UW<>92BD=@!%E/"O*J# MEM2_[;,+4LE>G=-IT`I_&(.TTX7[U(2F8-EPBU00W>S$E?W0TI,O]9Z5=GQI MQY=V?&G'UZ'E13N^M.-+.[ZTXTL[OK3C2SN^M.-+.[ZTXZNBXXOG?>6>[9.I M?-SJO!9&)\M`!),3+4X5>6C],(=W$Z!=$"J=*!LF6!=%2++.+K@]]IV;8]_" M+M$JDC##9+VMT'9&K2S#JJ$6F3*A%?.5!M>WTA!R0J>2A$=3S&LIR$I1+IW? MWN_MB+)D#;Q'8^#"F4NK7LU%B>[:Q>(,4+LA5?Z2A%$6*5D9LJU.38[M:%W5 MXNAE(9=F`.P+FR&'KN";>]<+?E#OX0.=!L>\]QH;D\6T_!,O0F3X3:['`(W:, MIAAQ^,X7]C"YQUI+,)$V?$;`4\_]BWK6'<6#N;MR@A8N*]_V`W3>+3U8KIZ] M>,9A^\,NV*1=\B_;\5P?@-];H.4[Y`?@%='`HEP2DC/+P^YO<,"+(F$$=!TE M3_[<*T`)&!J83KT:LDB:?@'?PB@FAUS\)HL%RN?,>K]]??H[_>M`1TX&"W8W9?`W,05)+AG##K MD7,GA3R\8"V7GOL+^!-0X(_9Z0.:>(R%3^/7+0(/+S'J^`B_MD0:N,=C?6OE MX5*0^3"@1#L17V$5/)/9O>7<439&S"(,23K/)("5E)R*A*P`JH_VG/H,$1;' MC..>.#0<$CSW"28`0Y9G)GFP%XNP:,_:XUSL8:+P1CP:3@`$F)8T@AS?)!+Q+L"-%_Y`KX M@OI,F!@*"4"9O$N"FUH+M!I!8)X`7^!6^$YJLN!H9-\^,UJVL(FA(6*_"SP@ M)*;T"CVH@`O,1HO8_*G$0$5H)K>@&GP>%(S&GE<[(* M_`!FG]W[-98 M^[%-/[+"!-+Q].&&__W])1$W)%%R_Z*XT7W^?"GM2_!(O"LQ@92#PFP/6-OW M&2[QWD_*[_N(6(E]WS3XOI\#@>&3M@GB[>(>)'D5V.R2:`;'4.'YY!:L=T2K M158^PI<7L1T76(+G0T",'E"42(OEB^2:!9XSL7!RN-7FP)/QF]MSXKA!N`-: M=SBY`>-3_OS.5RRVF=[-&1I9.SK?F5.#S)A.1E0CXP(UOXQI9`7UN16$:M-Q M5@^MA/F4VCL9%GG6$4'+*(%.#`<[2TTIW[EL+EF,O6D+(S%UF`^%E+#LF>@- MOF"BM[Y1+TIS\L,\)WD8.0\+9-M#U>GQ_76;O2$T<[3;W)+>(+0G&!H[VA1< MR(35@(]D"U6X<^28"WQ#$28#C,R^8:%XEK'PZQ;OMNIC_0RL M?W-\'/\H#$&A`9+68V,8?E9.,QS\>M!1V&^!NZR_Q],NK6G4]D-*TAI"WD4N M2G:XD02E=@R2MSR6\4*IH8&.DFL@ROOG]"JVG5'95UU%^QR)#N!Z'A$'I]14 M+EYJ1"JLV$9V.2<43%-6V(N-U)%&K1`_8X]IU+O.//JBLIV2^\T:K;?S8UN% MP#2/K.)=,@XE9YOM:YX.%D8P6GDAEV.=,D6*ZL!$&,7;@ZD^6O3[F$N^+S=V M"MJ'[#A=9M:-%$G@X<2XN&T88,6X412KP]!4JD^K=$_?E._I?TD])]_49RDP M]400RK$^&VZ1F_K9Z9ER^FCR"=08^[JHKV,'.G:@8PL]/8N&W>_"PT!I#O%7U_JK]H=Q0\\)N+1\MF M%R^!?]68E-'?M=N-)VD[F$3-)'9Y[M]X4Z\R0CE,&H@";)M![(S,H-T=%4#& M*(N,,"JNXYN)B0VNcY<*DN=H"(W>!?R\JS^DF\3F+W#1R%GD&H%0W6=M9 M/7"F"F(JXY8S<[U!U$VV"*QU>2J'5T'Q-CHAOXHB%&9>8`.(4ZB+-5!4%RMJ MB!'=0&5D[*\L%HQG9[AG[7TBL,(/%ZN[%>@!$O%@M3<4]I7AU;3>OKQ`E3^[ MI_/5@M490.9']<[)?$5)."W?J>^N/"PC=.EZR[`6 MYB4P=,+SJ/&V_\\*3A:%DU5J M0$_G3BYHYSV^<% M2VO)]ZLW)'QNFH:J=/@]('YN#OMUIHFJ$0[F2S_@8C);YJA4Q[(Z,>D-CVA9 M7ZX\#X\V2US;15I.'79AC/HY/7>:B&R6^AF9Q;,%#B\=R6ZZ3>P$&+OGR9QO+(R\2ZY"Y3>%'X1'M MD(IW>HETGY=A4_N=7G+MD(NE9R^(::ZC@US\N'AFJ/SA8IU9^$(,"B)UY,Z\W)U7=M+]Y_PZ)WEL5?PV67HY4MPET^30V37@<0` MPY`Y<+.:^O3O%8Y"']'#O:<&Y/M;RIM+DR?=IMCA=KUS>XVAER+(U:OE\@,_ MM7VZYIJ$BRN@VUI35\Q=1[$B,8BUE3$EY!SE/Q;CC$F3%AJOY`YS>P$`86G: M%OD35BMH(%[2^;/]8(/ZPJ+_\2.8Z;06U4%8,-#%G]+PO%<`#A\'A'#EP_?D M`RC&)U9=.W>L[PE,[X'N*5QSI8TEKVT7+S0]`-\Q5(1EFL7DFE$! M_-2$B704/FG?V`A)EMZ"!(@"Z0PRH,!063ESSWIR0O,_K$,N<001L0.A,V%_ MF+*BZ!BZHEQ!LV\=E^U16-T;&\2(Y!BVX2$`L*HC>@0<<75JV ML$+BDNY,2 `4@'.Q)VR(6T'OD[;`36K@!'X>(,8BW*ZV]E8ZIM!!CLU`GW M_,R:WN/NZYA88*(PT8#@)ZP(CVV0R!WEEA`;&:'++V2.ZE$LZL\$BM5^K[N` M>O),@COD`;;'C)+J<45U/UK/.$_'43:]>FA]V*^YYLFVFX)F^5HH,#<[AEV/ M%&BFKZ8"[P]1YV6G2S0EV<84[+1X/8O,::L#L?^DMO/Z4-MC&D"A6TC"KPDU+N\^9(6J;T55>, MZF2L=$"\IIEM``IE(_+-EJX+?BZUPF-]=')-GT9K-AE4BD:[`D-J-#IV)VV0 M#!M^,K8L5S5@27_S%2R[>\+V_.!,:EJ&^P)1Z,U&>=D$.PAXMH<]TL. M_`R7:Y#PT80[!\.'^3(S_*_'XZ^I6-PLK%-KKE^'"$-/M54Z2UT2&6>AT"V+ M0HE:9"29\%]C196JK%3A%:NBCE3R/;T]-8F_46DDYGW'RB.6?Z_L#+,S%S// MSW4=&U7R-6VQA^KT/V$XJ[JWJGY>UV4?ULE@9.Z"MN:WLN MJ:1P(K*LX'[Q)+,F:.WX1FFB_!6AOY;4\6F>R7&T4W9F]`[7YTXWHSA8,XIR MM\2SX19I1I%9$D$NY(`_B#NN'U9T7Y6+]3UG?<_Y>"[9ZGO.!Y\"?<]9WW-^ M65=E]3WG(YX\?<^Y2E3UT!.H[SGK>\[ZGK.^YZSO.>M[S@WE]XNYY\PK@&[R M3LE>K.]?WJ,;^%0:;U5W7^F[!$<$=-<8C+Y+H.\2Z+L$A\\TU'<)]%T"?9>@ M$8+5`!3T78)F9E3KNP0-QK3A*T/?)=!W"53<)>!>C4QO15:#I4O0JR?FVM!I M]SKMOCF)F#KM7J?=Z[1[G7:OT^YUVGUA\VVK=99H3Z)VC(>FZ&L\2.^ ML;4;&A-SE.1&>N"-,Q%^4-$0WNANFICP0\&YJ8C0+]]^Z]B+WU\%WHJ^(K]M M8GN]M&<`VC03\AGJ^C9DQP_W*HZ^U,"/%/=K0B+!J4%_PZ+9AL"&Z=P_[F6@ M;YKZC\X\9_T7VO(WJ4,^].9)WPU\>V!,-DQH)@(RXW:#;DS&1MZ4Y("VG'!. MOEGV_,JYM/Q[%;*15L-9B]?4!E!9T9Q/KG<1=H`!30""F+3]91%5 MPD4SPK0*"G608$HDF$7DM*>,A(NP,\$/ERM!=&)E6E;=<=OH;D9+WM.S!MZ@ M6[YCC?Q"2NW;RJ,RX*NOGU[]$YU@YCA3F^#((>#P_O\'ZMF/%O:JN')\V.E9 M[_4+9_XGG=^A;8%M+.S`IFR]+UP?0%8+,A:H2E!C^008;XH?AAW5^2\Q`QGF M=LQ%1MAT;R3NJSQ(L;RR=+"W96;F'Y]IR*GCK8 MMR6*S#!4?.H]VMB+9^FYC_:<\@ADLIM+;L.-C]A(1)(B[+UB!PO1XN'>7;!N M'2Z2.+NW?$IZ`O[T0!27'WCRB^ M1W\M;8_&_5AX$R#>,`PK8;#*,CY"F_'UCU#NK4?LH@,O4V]F`\I+#]B#CYX9 MG4%O/,(N*1&]-_>61UO$7TW_%_B%.,]@8D$XO6<8)+#;)V]89+:,WSNI',X>,WZ$;'5(@GGL,M$TT>19!)@$<_V M_P*IIS35Q0=>Z';,R>LFE#^J:W/[N'@^][%H0+J[B5Z0,W@!$P3D72O:'V!3&P[Q'R[&;*7@8'R+X!L6$WS0(I=SYPRD M>"!)/>O#&79:0\7SY))G[(25:/85[@RP2IU0S<\E?,UL=8'=ISQJQ5TU0_4Q MCZQ($EN0;%$"+:B.-RLG@;4#6I"-F`K'(_D1XJ'J9FJ((9&OBLQ36-WI*G;A MZK[$5FM`\256B+M>+!O\V4YQ##R8(/Z#`3%W5.AUP$&8::S+DYYUS(+$8K$CW@ M'1K7,&Y)V@AXRW`XZ_%NCJ(,0F0\ADAGJ3H@\!.=>BNT4D7;VWSS"-08!\$- M)9\FYH0;)8*`,G82L"?+#DH*EN.F>G.NBU@G=9C@KX%!27TX\C%%:@=^4HZ0 M>_?<1R)I;/8UO#;S["EGTL7-)1D;`VY,PSC>/Y6X$B?Q.1F0,B:8K#(^)1E@>]*X+MKY.=. M-?M/$L`0*"$(.)P:QZWU]Y#0CQ!/" M%D13,$L!5&1%+\&)7%!IG_PGV!3^C7M"K,G\8W:ZCY0[W9%##&>V=1Z!H_TW MPZSJ?)Y:L[_N/'?ES/'VE.N]1:LLH(>UZ%W._AGU`F'A978N%GYB9EE'>W8+ MS>S%BIMC&$)GGEG\@(X`F%'^D.A%S1VW_CU8X7$5)N[-GH&6>PZ=T&'C9VL) M=OTO6(-!PKJ:KZ@X#=L>'XUWU(;GL`LSF`V=;!)@4OZB_(:<\%.(QLTVY:89 M8F&S3N+\C,,@4#]@*,QE'):>C>V+L2D\<_"!-?SWRL6'.!#NBA,GFD6B[!1V M?G:!D?@P\YN(SM)PGHCAH_W(<,B$+CD5D7GAS14\X8!^0>6?<+8N>2:N'[H5 M'8FFN,$Z_^)0\+UFS M&5][Z%K",TSFLA>-U]F!R.R&)?9[?:;,"=OOR!=JX6['0QS1`^$[*#^P$&W_ M'I<>N?6L!_KD>G\A7.[(8J^CL$CRA>+I4>8QQ&/D/48,N`B+K17+^*\"^94' M&8T0.LXL3F@XN6(RIBBSC/%DM@"6W-HB[L!<`]*@ML]C0K98YW@2%RLO//%R M'<:="D_N"NP@UK=^1L%T8LX\YEN`42SL`T^`V^R^'^HU6'G^+?6(%/L)HQ_H M4,#+-*!WV&,6=[].:?!$J1/I'@SVS>RE)=-,P))Q8^[%3!,\NW>?4B3.*>HL MYM((9X4AR]5XB)LMU'IR0N]M.,7"4?Z9"1+W/7!W02O6 M)7APAZF8`34,AP5]I`OF++"=Y8J?TWGG,O\M]_GAU)8T(0ZF8.(+V_(%[?0% M[@VM%`Q$WAB\1M^G/?7L%OF3+AXIWL0"Q$%&V@GLVX&[9(69Q)_AK:S8SBMX M;SOSPC0ZX$/=E;QHM>U1>3E*EMW-\\/477-N&[R-$I`T MA3^C'!(CMEC?AB8`W_O1?6/-HFP2OC:%8D5%CYP-5P-\)RV&C02&-]82E]6T M3)V23)E59,JW'VS8M/+T*_XM]"7;D]"H8[L&$)8PD1;M1M/6\@[^T/+YH M>>S)\OC3D<1&2)3-8['1-N\Q^P&D)X!G0)@<-S1-YE9@A;$(88LPN0/["6,S M8#RQG*%G-(3F"-Q=,C/4?6*6TNI!N/EWE,C&F/4O[-@!IV$1*N.F950LX(D) M38[NNL4`#QZ564`$)"NV+FT_?1@&.Q`36YB5&!F)7.?!PVEC4D35LP\,'5*F M<1E#FP7U^`IXPG\Y+(2V`,(8U"BN$QVK9+,Z:05$5KTP-``*/M&#LWA`[UP/ M_1S'8.&J=-C]2'8I]MD9R6=Z8ZO?:M,!1J@B=OZ:1C+`W!UR6`\=&QZZC#Q> M(F':G[D;2ME5*T=5[!"I5,HPQ+=?$=\QF#A5439W0[DJBWM5\2U0_4\N M&%ZM&G\5=O)^)5N8*5E&*A;5IF(SH?EXP;1M*J93II$)6PVH6-J^_5^*?*VW M3&R.!3)C:7S9$`RJ)J?8EMU!VU:8CKW+[WZEK0G0#JLF$]'@/:A%U-2AWU^X-_%2U:N(_8N[@3AK(IN"A[,G0"( MA'?!UO++M4=!>Q2T1T%[%+1'07L4M$?AU#T*HU9WHCT*Q^I1V#![VJ.@/0K: MHW#D'@6C7"_GT_$HY!)>NT>AWENL&^]VR9?3H@>Y]7KAS"7MBG=+_R^UO%-O M^J0/U?I0K0_5^E"M#]7Z4'U,AVH=IC_F0[4.T^M#M3Y4G^ZA6H?I2QVJ>063 M"N?1PL?9;Y[MZO.L/L_J\ZP^S^KSK#[/ZO-LP\ZS.DA\S.=9'236YUE]GCW= M\ZP.$JL^S^8<2.4#;;PGWT1[,3.]C:IEVU44N#+%UMNQ1(5*!W]\3OR,ZI`R]Y/`+(\ M/N-1#\.H3Y+UB]#;6SKC3=VD$JJ^J$`6-^6(+_I%[3FBQH.^[;->'1R<:+;" MFEQ1LERLL'0J;UW,T.!/27V[$@U&9=^:9L".;M`KQA*E;`;;3=$9FG>^K$10TQ3/=UC=-F(>\DFT4@%V8%=`400129K!NV&![:@:HA7V M]L4I88UN>$WON<2"D(&,\_@R*S7,6Y.=0M>O MANBY;V'-=Z[G?'9[UU\M@G!.IBM[@BM'6SK2,4+L$=CI;>Y:!AL$S8PN;B@-EV7WU"!2MLB MMCR,>RJ&.INWLNT;W;#KV*8N#AV&B52U,8LS9BYGNFHXPQ=%]C"<,Q.5G!GG ME!QS'YGZ@8F2?N8./!7]>D!91:>HLO!5 MXVY*N)M%>E`->ZIQ?\_%[R:4WNO;ZUAV%;`;E$H6RIO`*L*T+'-AD:O%](=[ M*2]?<6!1P%-0H!LPS02K"-.R/`6%M@NF7VGP,])NGYER^_+QYJL;9/=4*RV; ML'E$Z&V`M0-*I840M'99E%B+-#0=_9.K]F%T]$^6N'ID_H:-@R*G@[&JE M]EG<1MF^[;@.,M!S>9/9L#EZTWQ%%=(B"UR6K)85N2$@F%%1/X+2P^2YM8AA M'P.&X;<+>AM_R1*`;JT'.'2])91'^1*.J,HKR6SALHCVDS$1T="Z)' MPU&C6[.49JQ1D>4W%EO1Q6RV>EBQ\X_:!3A9)\WLF'NDC.?,OE"EDL']^C'- M3&0JNW_MO'"+R@>S8D3W.)'XO[N@''8Q7S+'IB9E/Z2D_))\U,)Z%T#CD5>9 MBFJX7CJL-%VC\Z\>1N]W4XLCP,V7FNW4?'6=]DD0LMG6:-*^N.>EG*4UDT?- M/\1Y\?P_QIN=#Y8W&-([@$2]$#+WM#=^LV!\^Q";_Y[G4?WAZ^!&FQ0W/P6* M)%?G2=!S&7M?3X*>'%?T"]F)JUQ`/L0$^8ID[0CHO6#^A..G=Z<-_-):VNJ< M;T6K",:"M83Q)E&$M1=_6FH-'I#W::0NGF=`FB>_U6?S1I30;C/5#8.P"! M9[W^H/[9VW7]5:2M/VH9W5'*.JZ1S@.1>=XW6\/1^,V)DM=K38S^_B:QW>U, M#D'FN#4B;F"F*]_52:1Y&%TZ:9E&.773)%N@!G>^REV[%O24B4D# MPYJU8J>1:X(&?G'8[4NQB[=6>%\91VFSI]Z2N;N:+E+UM(Y6X1H\59*H]'; MZX'"6.L+T.@3TA'O@"78?5Q[VI7OKY@C$_*UFB>>N2W!*7; M#H<9=Y[\.-#,*X/P>A74\ISZ4E7VNPL-V,7ODR"E2*W%(]]D1VFGA9XS36,# M=OL]R.5>Z3D?C=[43M%>#82J0GB\)@,>>EEUC^3UXQ>ZSVM%>Q(&@)Y&3>.1 M[*$O@,1S<]"MZQ+I7JV#S800D"N=^S9XV3 MM5]">J=QA)Y,^J=RA/ZZ7A";N$Z\?N)*V&L$JPB[K]4=5V4)5+J2=HJ:2S/B MD)<43X4/6B`.8Z:-QQMVFCV0NU_SX$51NUG&&[P$]FMK;92)X[*UF-&$'Z1K MVZEV/XPBE;?PCD#)16SI]5O#_JC5K^%B=T4V'.CV][`9]!_NAGA_8C2"!0>[ M/-YK#8<3]9?'CX@'O5:WUVT$`PYU/7O4,B;I5NXOE1?&I,ZKZLTW@V2IZ$UV MOL_^&_?HR%_IUH%E/Z5:!P;W'J7D`>BY]PEUL!->TKB3F^4M+7M./OQY1;Z` M7'C6PB?G/V_>M,CG8-XAYV&EP]$[>"3\8_SN#7:.Y-W[@'R6](I-=^9T8;/. MK@P5\8"X12-WRTSVQ0Q@Q^VXUS00#3]PXX^#K9%#9XH=>*Q M6XP8P(;A\''Q3/YP%W.&7D3AE3/KP&12@@V98,KE7L71&[;S2/V`M05D/68! M^I>@0_[$^JP!(/^_+J!`'N'WE4=CUB`Y^"SVUL7ERDJN(BJ9S8=M9[98S7EC MX+CBMAAL^,XG%XZS@E>^LR[`V!#PD^L]`,KM?T4=D)^IY8EI;F1_SFRXFYH1 M;FF-M:6#%BJ4Z-E2;;1T-R;=C4GW#DHCJKLQJ494=V,Z6(>$$U[&M#]ITMV8&CDMNAO3*91OW(1*EM9,'C5/HDW1"R%3=V/2W9AT M-Z9CID=W8SJEG?@(NESH;DS'2:_NQJ2[,6T@6'=C.O'IU=V8&FLX;"<&'TFG M]>IN3+H;4W-O.,>TZ6Y,IT">[L9T`M3I;DR-MP5>7B,!W8VI"7O!"T.NX=T> MFHV=[L:DNS'I;DRZ&U-C)^CE&5&Z&]-)[H`EV'U<>YKNQK0'P='=F(YID]7= MF#2-3=SM=3>FIAL(NAN3[L:D%>W1&P!Z&C6-1[*'O@`2=3>F!MH`NAN3IK') M6[CNQJ1I;.1NIKLQ'=_&K;LQ:<7Q4FG4!^\C:O#S$@12=V.J1(CNQM3$'5AW M8SIAS:49<30-"1K,!RT0AS'37E1_HI=%[689;_`2T-V8=#4V84ET5]G4]O;,=!Y@0VC4%>[&0E6/SAW[> M?'A%YG1F/U@+'YNO_'-B&J,\W-+P:L'N__$*Y2S%Y`NKK+,1WUY_<%AT+^9A MP7$LKWKEB!IM!5#OCXSN@7G]G086+)#Y1\O#M_T"6+?[YG`T/C#/X_JNK`)Y MHCXJ+Z%61'0F1O^P=+#RUE'I<6E,>QR,+@"($2FY+1OT(5=]XC+%9/WJ[Z[;"TQI>2;F^Y3+WPTTJ)0GX MOZW%2ITE\LNWWSKVXO=7@;>BK\AO^T"J^K2/A+%1%K-]4+6[M#29NLI[9+M& MJC)>K7&[@+TBW"V*XY-%Q:7EWV^@_I/K?6)7R]"DO7)4;"]MZ-B M!SE32**DI3_RJP%*]GASL&9KB.&5`-]E.ZT;-05;:3$4O]+@L^O[-Q^5+)O) M1!ROHF%W@57IK#J9&"I1V'TB5&-4?<7W-J/Q,\I-PI^OG2]1/A*G]2;.'%(A M*^-Q+"O%0=>-LR)'0U.I4R#.NU.V?OK_Z,S5^C1'O4FNGRT!3#U>I;V9PT,A MNHL?LQ\JM?VC7^RV^L>B@(%9S5CDNNUK!O[RCNF,2DO M,VA%\^4$T^YZ<_S]/W9P_YD&`/?Z%L$[@0H=9TH'K&)0UW@K7(NJ<=U^("P. M/8$SO7N`K[[3I>L%P/XH:%84Q7]B1&X9!O\>+._.=MZ2KA3Y^VT91^_"$-Y2 MCA9BJ_%M'>G>D6AHTNT,!K:#'U)]@+JVDXPW&MW.EDRT@I\$FQC^$:]2TLN9PV_\1Y@G6#2/=.$N\2WV&Q\1':`=$L$B-IA\?+NV M_XMO?0DZY$_LK!BX#D,D?QA8+'[@$W\U]>G?*_P]<,DG.O56EO=,3)/W-&D1 MRP=<8*M=T#FQINXC19J^N@$E\*.@OS]Z]T70M/00!-IZH1CWQWQ6?]Q3<@O* MUWU"3/W5`\P7V(R^1(Y@$[%F@?V(UQ2P8!#LE?"/1RD!>RJX]PF%R9RG\_B0 M.$3X;3T"!?_M#3KF8#V5-`<<,W_)C"X6_M*:`<6HK-G?(G^!_5T:)=&-WNAV M7T=9%#-@JK7TZ5L2?GJ52M#SA#6B>T>T2>N/V2>%%IVR@@^'SO+?P8F13G,_1OI[ M@W3SEV.DHM]/]YPX1BK&W9RY:)**^.;1=F#]8I4XCI;3F]?U%DOJ%);]V<@X MA163.5.GH0S.C)8QS"&D2?J`13F)Y?LT\`M9#KTWYZ=21>',Z+?,WO`TI*TW M2==O/$I"AJW3,&G.3*,U66MDUT`%(!)@",N3G-N8[%I,$2@[MQ]ZIN(YDEIZ M#(R36$[E3T7;G&B:*9HI6Y;(QAOA4N"XGF!UL8CXN%*&Q:#?&16/BBL':71( M1DR$N,SM8SNSQ6H.HXLBBV2%&6!QD`>QPOP'>VYCSH-[2\YZ(NR[#]S-#HG< MPYB,P1`PQET66)O3I4=G-B<+?Q@S1.ZM1TJFE#IQW@>=8^:&G/D1)9C(R1C[ MHJJ7G)%`MJ;%A,#_/P+1+-7#YGDJR9DAJ5D9#\S]$=#OD&2,DPO3%D(8/C!6 M7+Z3K)?:1%H&K>&X5Y2:JFE/.DGEA22IF#I)12>IZ"05G:32H//SL22I&,-T MB:NF8=@;*#ERZ_232NDG`[/??&=5.L&DB3P=*`E?Z-2+=VH\0\54ZP\,\H0R/2S`E*Q/2GR?Q\>*WK"X4Z_&%(U4I+;. MV';18+":0'HOSCM1G9MA="=[P]VL(8O!:`WZ_9KS&"02>MEY#!'C[RQX!6CS MK05,RBU#9&OV0J]G[HV`FA,QQJV):30@#R,;;GY5(E$Z*:\(TL9*29A-\(4E M$WS$7`*62M`SL-A%LOU(J4I*.HODV+-(=*D3G46BLTAT%DF3#NG'DD52Y3C: M1#ITJ1-=ZD27.CGF[!"-J"YUHDN=%/QT"B&PT[@7?!K5#72IDV:L>EWJY&C( MR)J?TU`&NM3),ZU(G.GM%,V?RI6JF3G-AUT;!T MM=BVJ6/;+SBVK2LDZ-BVCFWKV':3S.YCB6WK"@DZ:KTI:JTK)"CBJ:Z0H`A1 M72%AOX%D72%AJ"LD-(B*D[CVIBLD-&/5ZPH)C2)#5TAH;F!85TAH("&Z0D+3 M"-$5$AH3X]45$G0X<_,G72&AQLBNF1_9Y=YQV4=>,&)+5H[-'_IY\^$5F=.9 M_6`M?`S1_K,W-#F*:Z.7!FU*H,TBH`>#PJ#EZ$4-9,O#EP=>EO"!V2\"G/F; MC"]!U+Y"`=TC#C@]=%FP92DVS*)P58OWP)`AY\A8(="EQ3M)]$;0&'6\<.;< MPZB`['Z_)\.6AR\/O+1X#\K`5KNNQUTC"7S3TE*]KGNC21'@WSP:6+^NG)G: MI=T6:SMC^`K0R]+>-GO]C!ZD\$:$CG+LS@6I>V@<24L5*N)8606Y0"IB$=Y MR`7]2* MPT!L[>FQU^&JUE?AU*^/G@5;[40/QTG8!:5-L<+.D;5L1GQV??]GHO3C353Y M\>:[DN-]:/-O!K4;4J6EI#LIBU0LQ&%6WJ4+_\2M3-6PRQ@+T[P`/`7H%6#< M+]]^Z]B+WU\%WHJ^(K]E0_T@-7U5SI1QFB6YT!0@MR-+KJ)RGO6NJ_'`#+7- M=H`J$"ROB?O]73'\$E5"O8DJH*IAWV`X[J6QRX:V*V9E^3:>F$9YS/ZP;.?& M6E"E'-LDY^4!EK:;>D+"-X,*D5KY[3O+6KY%J:)_KX!K'Q_A7WZUVW,%JMG6 M6U1[RG*"C8Z:@&#\*68/0YTR'C&BIGLC+QFCJP^:""W:SIPZ_(J;[>R<,EOT MTS4OK'VQ].P%,4U>K1;0!>T76)[M$G;Q!RQ/VPE<8CG$NO,HQ=7>(N=@IX4! M__[HW6<:P*/D(GP@_&7\[@V9TN`)FZI'X[;(Q\4SNQKUX<^K#OD!(_'W.3KA M&.3!G=NW-EJ^U`NPH#8\\N"S%V&A@-T(FR4K-XVX+#@&\!=@BV]SH_EB=;?R M`V(.&77=+&2XO0UPY((#"5&=\A/ M^,9C^*;G@U-)?U%O9OLXHP"(!;*QO3U,\6I&8Q+",8?OX"&L[^V)>NLSSUZR M6WJ(%I;Y'@VZK6ZW2^8KBM7.OUC/1!0]QG'/!EWV8@1(N'1!Y!"V[DC9Z9` MAZ/',)$PDS`@MZ#&\1G;([ZSYRL6J#E=@#`@DZS$ M+*27(]=-$8TW\J.9"S-@PDIN72XSB;&!L$'+Z!DM8]`E_KWE\<+N^/S,?7C` MTO8![EA6@)/EV3,LB:VG9XV&:6?\^6 M#)C#%,B>,]2*H7*++(2O)?GEB,QF=!E8#L<1Q\OF#5=%@MU<)Q1]M<6>#D5` M/+JV9"(^Q2O#!Y/?9THN<_FYTX5]9W%%QX0%B%^"=L"Y0Q`)V9K>L M9[?LK^^64]?SW"=$ M07QRUFL-LE_+GM-L?F_J=+#5')6-Z4^HN[X+;0UK3%X&\6XHVZ\7_O4MMUD' M8+]N3B@!2KO"JU`(D(S9=[9[S3>]5Q4OAI;`JP`8&2NQ_K[Q)?D!5F0V#L,R MO%D;-.&473Q_XYMF\K&J@$T)<-[8B9HA$B>0,5Q19P/OMTU3`LZ?E>%???V$ M7O*>`3I?9+]E#9_T6OKWWV!+^>'RG:$`W,TSGA@PQ6D._GNX1RFC&UL550)``-##8Q10PV,475X"P`!!"4.```$.0$``-5=67/; M.!)^WZK]#US/P\Y4+2-92F8FGF2W%!]3JK)CE^U,S=L41$(2*A2@\/`QOWX! MWB0``I1X('F(91G=Z.X/C6X`#?+#_UYVGO4$_0`1_/'D],WTQ(+8(2["FX\G M7Q[LQT]&$+ZAZ3C,VO^YBVT;%N# M[1\0N\3_NP>2.0[,.?US0^A?_KF M94VEO@`A_68V/9U/IN\FT_>/L^G9[-W9?*[).01A%.2E/1YGK\A_F8RFTY/)W_>7#\X6[@#-L(,#@>>9%2, MBXCN]/W[]Y/XKUE3KN7+RO>R/N:33)R<,_TK:FA?DB1`9T$LWC5Q0!B/)F4W MEK0%^\W.FMGL*_MT9L\I,H%[DAD_MJ!//'@/UQ;[24=%WFM`/!0"'Y$7GPZ& MW83]?4(QBG80APOL7N(0A:\,,'\7RTMUB!EN?;C^>/*R]VP&_72>=/J##FGX MNJ?^$2`VO$^LR>%R?@(>,^O#%L(P4`@F;-N/)'?`IQ;8PA`YP&LCEI"P,QF9 MIT&&37"[OMVS28=BHC);,U$OLK%YSX=;B`/T!)=TEMW!:Q*T$53!H1^I0;"] M\LAS*SGK--V-QRA`&`8!=<,'M,%H34<4=4K'(1'U2KRYHT0.@DJG:L(-&TCW<$_]CG:DDEW2O#MYHE4`OT6TC\LG#:>0-1\\)G4+;FD[?N)PUHR-5#T$I.UA)(3=!\%M022 MM#8B%FG"W%4'O<4E/3T:B0:?0^T;X'^%(1/B`3J1C]AL0XEB3QD>V?OPUCK?`KR!P1*+!._8-FWZ&MP2:?^?@>_'^7Y'2LO8]A>/[?2;)7ZB M,P5S3:Z)'JX=<.Y?RTLJ-DGVFNA'ZEJ:#GTXP_YT:CD$M>G[R*[LTF<]B^L1 M]Y-WV=6BPAN:$VPU#7\0KWXT:3G"M6A[R8GM\B]WX#7> M][F(X"+:1$&H9_>#^?6OT?UN=4T`/E(/,9?^I<^RX&ZT:.;6BS8MW4"'M-]= MTI8"M^+1_?K1SC\E(8;F:-<(K)"79.,A33^=[?R4B:PW=CK@W,=.;4M4-"A[ M7#WKQBH%G1'K^]9AK/NN>EOSV]QZOL@1+K$+W=;>TV$/)F@]ZUWK>@^]:=UV M'&N2]W8NT59>3?(F>1W@.9$7+P>OZ>\5"O@20H96 M;644Y8\`NU9";E7H^Y1<7!23BSJC\N7U"O3S.<&,C4N_<:V4UDJ)4RDS.3WB M5&3S6+D3\:O8IJ+%-4UK$*SBPJ8HL#<`["?,92;0"X/L&S8,9O;T-*UO^B'] M^J\D:)]'/BN>R3KPP`IZ<;=__7EW76LR&4]85O)!QPG[P8+&$_#8&%Z$YW3X MOE+OJQP$5Y70)*TK5QHQ"]^QB$\#UL>3T^DTZX7.4)61PI>9I2TF0;1+1J6- MZ)C(Z-<^V*)3#=OAO"+^`RAO=#8/ M/S69'FJSD5#3UKM#Q+B)G\KQ%UMY`,]C\Q&3XQXZD(ZAE2=QF8;F>@:?CV1P MI9X"0]OC^L:=#_<`N>GV:G8ZHC$Y:Q'JP?5V)+A:Z&[>G%:I5!/%33-BBFA: M^BX,S.WH?X823Q"W-"$T"(S?I)9Q&,@#6-N(;4;D:!6CC44EV3:Y@>&6N,7Q MHP02:6,30H,`#X5RQH%1"EELTZHI8DN:Z@'Q;F@@&A4S#H;2SG-CUB1J-^8$ MF]1(!'?@E#40-QTU4M-!I4-`X,"[@&E()W4?PHCM)*TC& MS5RT`-)2VCBHXI"O"Y*T\;CYC!8\"D6-`^8A),[7RJ&I)/P(VHVY:T]V.X)C MH9HVZ+E6XV8TA<4UZ5J**6L\;L:B MA8A"4>.`N6<'L!BZE\#'"&\"FB-'.V93Z-+H@1PDF7=UZ,9-8;3@TE??..1* MHLJN,K`REL\PO%W3!$"ZFFO'9-RL1\\%#S.,<0#SRE+AOK M*+ZV\4B:;\JJ0O1AO$V+D<=8J+SNE(\STT;)#<+$CS5OPIMO95HL[0@YF3F, MPZU\%!ML\O:&K/KIHU/H]+&893M>?Q. M\[I;S,[2;M?I,:?$IYHIC-F'T\5+QP`&HI9=3RAI+(-+V-28[3A]G!I4U@-H MM#TM71T[#O.-1ODPJ=ODFOX^5/VM^.EO>3'N7+\8U_JQPNNG?HN(%8^(RQ5X MVZ1`P<0B:ZO$9N1-Y',2Q'7=2657*E?QL![!3K*48LQ""^[ZLZ3&0M!NW&Q0 M!X1RT85440/CU=Z'#DH,B=W%CLUF?UJ%KN]@#Y.WDQD;3UN*EN2R!42AOG5%EF MG3].924!2-A0#YN?S<"F055C8:&:7:`GY-)BR:I`2M'*6ZMM.__RG!9F'/"'N08T3!3[#%^@FOB0\$CT)N` MT60T[DQXA.[U(E-5L-8+OL/.+AVJKUP#CSO?T+F0?\])=?C6FAAPOIJ;/1U4 MGR"&:UFUH))H7$\3`B`X4E7H;*0;J70[QLUZGORIZ/&#N"I'A`_9*5;Y;%'J M--KTHP_`EIJ6$!0C;-HD5XAX>-5B6QZC>][AH!YF+L4,-/@1>9OW>N5'S>_T MCYHK/*V$J?4C8_O306?/PFF(>S+@^5(\/(4-O^N\8MA9L,'0!TQW(V\?B78J MOF`?`H^=R[3?GQ'1CCN_Z<'5S@Z]GT]Q0L^TO7EVL#OK22(+%*5'E6K+JLG+ M,'^?"4?0<8;J.TE52">.UX<"V<#-L+G@("B5QC*L`K#Y=:!Y0O-SBX2&VQ,Q.\14?V5L(#H:EC!N:J23.5T/ MLGKUY.<25Q]3+ST@55!IXFCD%H>N3;X#,!>.XT?0K5ZICFN5@Q<\$NY5`V*Q6S$P M+@\@7Z#@J*VHH&^,1D1J8(!\#89!2CX
K%FNLE*C*:8R,H5H M#V:328;*^9@'0F0"\]PI7?H]DH7S+4(^+!X6G]6Z+3%[ M0S9R$?"5*^46;(P\*-9$^5"CF787XE,4T"5&$#\[$6TP6B,'X#!])U7\0$0/ M.67Y\_K!7]B;QE'@>"2(?$A_R5C%KQTO,;,*;E;!KL_'!\KW+'+I?ZU+G])8 MH@V=/F0LK+V%B.PJG-W'\())]1< MMM.Z;*SY4*()'WO%RSBKRUC0617"/F6]`LBOOIDEEV]>EX^UM6KOGNE#)M%- MSERJMW6ITDM5M1OQ_?A#D48E)5M\N3A[]5OC!;A\^Q3L_VTE'?RG=H., M]1%/JM5>+/Y*82\&@!LV)._AGE4`E*[GYTK]S"F5D%@EFEXEI'$6?HO8;Y%N`-#)989%6I MZ8[+)&PK[=5"6&)%P\R42O,9^,FCI7F+')EUI!U8>0]#)R!V^DUQBX1K(AL- MG@Z#124_M:O9*@F!)U6&R[#J.2O_3#2"_$N__#ZY)L!=OXIK0W%E1+UD*;V MSG9^RD[X9:/P+9=HE#8.*K^D89IETZ5.+!!:<3<63<=81T.-R=)1@QI*+A$I M'ST,#R"_52*%I_YR--$&R'"Q]_`='C5&/>WU#(YM;=O'YO:!BF3LDK'6<5*- M/2+1=Y4$+>YL'%\]PB8SJ4WXXZ`N;#(;RR9J!^$R(L%&X>"CO79JI]:"RWJX M4SRY%FEA#?MO!0)(O_D_4$L#!!0````(`/"&J4).'!L+3(P,3,P,S,Q7V1E9BYX;6Q55`D``T,-C%%##8Q1=7@+``$$)0X```0Y M`0``U5U;;]LX%GY?8/\#U_.P,\`JOB6=QM/L($V`'-G)L#R-XT4.X]_M___D/0/]\^I=E@1L7>LX$ M7..E-4,K_!OX8F_A!/P/(DCL`)/?P!^V%[(1?.-ZD(`KO'WQ8`#I!['B"1B? MG$)@60IB_X#(P>3KXXR+W03!RZ3??WM[.T'XU7[#Y)M_LL1JXIYP2):0R_I. M`DB&)[L517UM!W1D-!B.^X.S_N#\>328C,XFX[&BY,`.0I]+'NP^#N(_,?LG MST7?)NROA>U#0,.`_,G.=R]Z&7O>QB>8K/NCP6#8__/N]FFY@5O;?IJ0ERMV">*F.<3^%PR733YV`,V2)S_KQAUE2MT)T!K3O M3OS(DEN\M(-HXM4B`E(*]LY*R2PV9`U'UI@&T7=Z:9PB9Q/LP4>X`NQ?.H&X M5A][;F`3%^$G3?;/ON\3\,9;B$*+I$S18$;_&"Q)=L(+[4A$K@A<'71V[UX M%ILE@W&L]"<5UN#'"UU*OLM60@_T#\?YV?:86Y\V$`9^#3`AK1DD#S:A'MC` MP%W:7A-80D9M&-FBA"PV_OWJ_H7M3S0F=6ZK9C*"C6V1!&X@\MU7.*,;\A;> M8K$T!H)9E#;_N;&PV^-&Z)ZN2W+I^_4[C8!2WXS;8!(\ M0[*]AHN@;J:):+4AN<5HK0A$1*H-QS4D[BO=E=A"]P,2)9^Z"%7R:$-V8[LD M*H!JT)3HM"&(M[YG>U>[?@24&N6@&M8S1&M1Z-=/\?>+UF4AW35X5% M(2-O/2=ISDW&;D*C>UV2T3*RY M?&PE(S/T2G<*MC1+)&IQU2#9O)53"AO'=TWT)5U:B@OZ<('F;&HX!97Y3517 M5N:UFL?5F,W475:^IL*![:F!;BBE%?04*KRC-<%&T?$'R3)C2<,9KL1KI":V MLF\>[!_1O<]U""_#=>@':GX_6)YYBQZWBUMLHW?:(99B'GU:!>NQHEJ:$6L: M+@,55K.WI`T!-Y*A__QH\5=QBJ$UVJUK+UPOKL8#6GXN-^,A@ZPV=S1(-G%3 MVS`J"IP&3\^JN:J&KQ/G^\9I3+\J8V=^JW2>W]<(4^1`I_'JT:BA"U:/C%M= MU&#,ZJ;S6)'=V/<23?$JLE?AI4%)(8N(L_HEO3=I"Q!KNCF+<&VH"+(,%]!R MW"W;`UC#2Z(HZQ,NQ45!GY+V$YJ^4(!YW%R9Y>"M[38$7>9N`7&DR=K"[0*2 MAG#SK.:QVI[7#&'$8!X7PL%E4V@I3ZMS$J[LT`L.GI0I>QXS'7:1RVZ#;NG; M'&ZX"R#;N%/D3.#[N^7H,!,S&`R&P`(I1_:EC1P0LX,D!M="AJ:`;D=9^65LQ?_ M;Q`K^$\A?3$=T6::UP+V:DS:+VLHY#9]*-D4LX`,CTF`L@Y##K"4H?8L(.7I M0&J5IMAA*4LU2;&T(DU>F2U]#NPUY$:6LETS(V.Q9DVLZTQ,;1F5$F2YK&@' ML;QGD6,M96>MD2@`7$/+9<5RJBRH"U=:,5>S? MY#:4*J9<#5HL25N)1--N3FY+J:XJUJGED4A@!^R2=WARZP0%5JUU3"R(Y1[# MR/HE5"ZIBD>+EM?/X>V@W*92M50XA)0&4M&`R@:Q\):BU;1IE-M8JFOJ;'R\ M^PR8Q&,;5M-'R@TLU2EU!O(CRQ$MK5UOIZ4:I'A`;GFY->M!Y6:4B@KQ17[K MYNAH0>5&ELJ+S#5![DV2G5D!G5$"[`!$:@"MP9BBEB:D2@,KM[%4?F2_76@] M?/5]K1QX\8M]T6U'QN$)YA2UAYP%]"+=\S\?;D5T_0[` MCBY4:B`G-$6X^[EQ25+@24N18M]6W,@`3.I$N>L/!'@-=(M"YZ-&]36#J,2*SOSG$B.VVESNW;FZ) M6;3&3=AU616G?`@$,:JR4Q"RHP:G@/4ZZ>$4!45"JC48Y6[2JDA4.AK7`9<% M9#3X6T=D/A3@UQ64M)OR/?O<>Z(6&2<+W/BX@:-0MQ@]!7CY[2YI+Q8%K40V MUQZO?(^S(!;5*P)78^WF1G;I.)&_;._!=IT9NK)?:+WF546BDL7`,M(6EGK@ MTA@=-TB/K+Q%T)G:!+EH[5=%1TP[%^W.'0E+!6)IKCGRHEDNPVWHL5Y6V7=\ ME0M(E7TNVIH[$K5F1DASSZ&!+#W>1"'-HUOFI_3$F3DJQD95Q42)=7[:W7BH M&R"+Q>EQ%Y6X#:(J9E4<\[/NAJH6MRQ"9UI72_D6YC-[#U"#WLU2+0+OSWP_W-^U"2*34'0[!EF0TB2O<[)/=Y`L71]&1?G] M2^XQHL+I4$#966=*P4H3KM8=)*,U1>+$\95=4$D9.NOB.LS2=*K3TVRYL.WI M?A5K?L;Y))+9V'(//>3=WU1*9V-RD"'2K-I"H`3`&H5(P/]W"X[,!%E8/I@( M"WO6L&*RW&!R$P8A@>PL.I-<'QXFJ_/A.L`<6>A^-91DDDZUVMR2T'76Y1*H M,G=^U.G.+S!@W>!/4\F9*OVXL\[+(Y3Y[%RSS[XB`FW/_3]TF/+[3'=R?([8 MMPI+_:HNHLN^;VB%]"AUZ)<.BD?9*7*:GV-S3)T-@@INE8OL3_V"253IMVX^ M#%/?X&+HL9BV&V,T_C@8=XW"XS2BL5Q3:Z3L*&U..G\YC+ND_+RL#I>,CN22 M^M51:B,5/%'5]E17_3DR;D2I5;3TD+/'!L+3(P,3,P,S,Q7VQA8BYX;6Q55`D` M`T,-C%%##8Q1=7@+``$$)0X```0Y`0``W7UK<]W(=>WW6W7_0U_%2315I$12 MTM@SL>/B0YQA0HDLD?(DY4JY0*`/B0P.^@3`H4C_^ML/-%[]!`[1V!-7V9[A M6;NQ&KVP>_=K]Q___+3.T",NRI3D?WIU^.;@%<)Y3)(TO__3JZ\W^\Q? M<)Z0XNN7BZ;8AZK:_/CV[;=OW][DY#'Z1HI?RS+P MS=.*LCZ+*OJ7HX/#=V\//KP]^.'VZ.#'HP\_OGOG67(55=NR*?G@Z0\'XC_" M_(]9FO_Z(_N?NZC$B#9#7O[X5*9_>M6IS[=W;TAQ__;HX.#P[7]\NKR)'_`Z MVD]SUAPQ?B6M6"DZN\,??OCA+?]50A7DTUV1R6>\>ROI-"737U,+OL.D3'\L M.;U+$D<55Y/S,+5_+%Z MWE"%EBD3V*OZ;P\%7NG)9$7QEMF_S?$];>R$/>@']J##[]F#_J'^\V5TA[-7 MB"&I[HSU^J%75FWT-C39:URD)/F83V,]M%Z(/OUVBFJ'"G3M@U?AEE11-HE\ MUS(X[<]XVAMO[<*_:=I]X&EONF/9IYVQ/U[2?^H1QT\5[7=P(JFSLBP.CC^* M^]VZ[*9T$O?*S9BS)(7VC?`B5U%YQ\O=EOOW4;2AY1\>O<595%I!X5L:/^->)M M3&CGL*GV,_&FA?FJ(&OKX^L71"R@OV5W37GB3=)'&HCW8`4N>8\_JB&[[%UO MKV:VSBB2Q5`XW_]Z\^I?!0YQX!_?MB4MIP\6G^`USJN/_[--JV<6E-'P+J_* MXZ>T--3681-2-U[TNQJR&H#1DP_+H;8$%+58]%>&_B\8.CM.DI3%@U%V':7) M17X:;5+:S5E]DL,FI,Z\Z'=U9C4`HS,?ED.=M3:(&='1#JK-8"CM"ZZB-,?) MQZC(Z?BUM$K,!`ZI+3OAKJCT2#!JLM(;RDB"D42CM^@XCK?K;<9",W2&5VF< M5C`TU2%V53W@@CG9`C_@O$P?\44>DS6V>S)_^Z!>;6RU>A[.UQB,/L%1)F5+N7I"QW%>O3)F,*?'?PKM;??UQ?_HT/!V](1CTL'=3>/$3TX21+ M<"$Z?*WN1MB%T-OH:C"=>1LMKJ^Q3(>ZXK:H,48=:R3,87C!S[2%25[1]T"+ MOK_(*TS?8&5U?':3D+[.AWS7O=GPBRMN!,FAV/HF2-K,XKK."'6X="ARG":;\G/+)3C&E,)Z;=\;!87T4BB0R%)4T1MD3!& M'>N7=%DECM_W"4Z%MZ+_,'12]$]_$RR^X/N4,<\KM@0SJ+09%D)/+I), M/R;,XGIQ$%/F(X0D6BQ?$5M.%J=4JT647>0)?OIW_&RLG((+*PP#S;XR!B!` MTM`S,VBC!B..1A2^A#JD'[NEQ6JJU?\YE!9TI*0$NK^!:'D-(6-GP3!+MG*S MM,G6]2UU&>!"M[N6YE``/1`H)>B8&24AP#2$2/AFBR74<4R))(S,>1;=:^HU M^#V4&K2TI`IZ/X)H?1TC9?988A`#+='6I]NB8!S3,HZR_\11878&9F@H!;C( M2C&8<"!TX2"G+)(*.!)XQ`P6=0XB6/D%9]F_Y^1;?H.CDN0XN2C+K3+OX8$/ M&TXZ:/?#2@,8A(A\&`Z5=%'*@6F$F.7^K\P425LDC/^\G*C^0K)M7D7%,]\2 M.5QOM^#"BLA`LR^>`0B0:/3,;&)I+!`W65`AM3/\@C>DJ-+\7NPG-0^_#/#` M8U@KZ<%05HL%I!XK0:.(_KE$C46]"1C5)2VH)J[F4]J/WI/"/`,R0(75CI9B M7S(]"""EZ'@99C[J+?`U=CE!7&_OLC0^ST@TG(@W8,**04.O+X4.`)`05%8& M&0@@XL@%^YAV]R)?>BROMA4_ZD%]E]DM6HT"]S<>%1CT.A8+0$+RH&F:6NWL M--T3*\HEZE@O.0<_DT7SEBPH>?BC'2'\W$*$(227.R,\W+U^+N> MGN,FRZN&S0;X:::#7$8Q"E6]7AH80+4,N;FTPN=J7EPI+["[_6IUGN91'J?T M"R!E:MF`,,YTD;WN'I71;GFWV"VNO0EDAV)L3!%9H<8826OT5VD/94M\6>*J M=,AP"`JZ/51+L+<'M(<`(R(M+64E@H,@2:&>'_!2A((-+PP#754?`R`PF>C9 MF18E(F[S(PS9G$;EPW&>L/]C^T0?HXR?$:I.HZ)XID$^/W1NJ+RG;=!#@&.J MTSL8Z&,(1G9CV"HRI$:(CN!0S/X!M^8P!'G\&*640H;/27%#B=W@>%O0WA?+ MK\ST);KM@OHWWVKT?)W+"(P`?9DJD]OY(RXK%F&5*,W1.BI^Q14KAPNQ>D9E M4]`>BBJTBM("/3(US[*[^(*EG<@RQH?5X@N.,?T:[K*AQW-@0^TC=M*5FX>- MP#`"TB:P\'^AIN->Y#G*F$0H&!4-&H;;NB[P)DJ3CT\;G)>8^F9^TJ<7'A@^ M)2_+D*YK1%6ZSLO##(S[\NJD[. M%/=KLY[#BGN1/@QA?$I9%JWLNB`;7+#^]3,VZ4,/#2D3&]FN6G0X,$[&0FXH MFQJ*-@T6AFC,8=[HN!!*^#TN[@XJID=(SJD]AR4N\(S0,&X,#L_0_J8-8=3M4D\#"5U0CQV@-4:(1FP(55DI=O5 MD!8(1D$V=OKD")"")D'<&@\N$3^;`V>($;,U5(;4VI=I=)=FO"^D0T*^[T6D M4"B%9W.LJOB;AU3,V$IU->5K"\;;C"0\E&3'G(_K.UDTRG_ZAS\<'?[^7T!E MTSB.8[*E_?%U],Q".EIE^I=BBY-.13Q7!*>4%#C/T-2J#C(.C2T&C+BGM M1&:M(9#ER$$='?-8!O""NK3-;&F14-5EG^:28+01:!CBN7D@176+BS6--$^B M_-=+$N6L'_A,*BSK9=HSY&4:=*O6B,KTMFIYV($1W0BRRE8M9KI?45LVJ7&? MYBBCQC"$>$GR>U:K,WQ7V5V8%ADT/#13[46"*@R,B,S<3/T>/U1%F&+R>R&A MA-K"T,X97F'*,KF-GM1^W?`&'#8A]>1%OZLLJP$8C?FP5'8VUS8H%0D>J^@) MRKP^GVGQEI<1'7P^S$]2!B@8,=GY:6?%8,C&6S%+B\5/)PM+Q#E]YBV1_JIS M9U0'1#:=#MHY]6X"+Q44V2??]4@PGL9*3YG]ZD5#>RC'_!A$DI9\L`=#2[)3 M_2E*\ZN<+8%>K>H5]N%I=#^3)8(C&WE=;*3#@]&8!TEC9'1/;1`-Q/F6/JJU M=7\?!)!IUC-G*S&XHJ%^B@J<'E5T? M$.&P$]2I6#)GN_5)SE)YX#RF%3FC7C4CY;;`CIGYD66$OG%I=/6&MS%Y%P!& MF%-8ZVYQJLL09S&ZI?12'>[QFXLYX@S'_%X(^=>C[V`HM)/C MQGI>58$M=#^E^13J``-&E09BALLIO?2H"O+=^[WOW_]^[_V'/W"UT7]]__L? M]G[X\(<]1'_?X)@-!K+G/6GPOT*[AOOS3*OT)C2`FPRUFQ[T4#"ZMO.SW%O( M#H'MISF*(=];V+FMK+X+S_`:?`R7O,_07!';W8:J%1C=>5/5[+QI[C=,?F/W M&[+[[3[CZFIU&SV9=R&-*P7878>Z*HZ\\;!;!!B]3N-M$R\_,XOBWDV(8J$< MAI[5$9WWT&_IL;3?&!K66J>1G^NF0_/P&8:./J4Y#7G9K6CBECQ#_558X/.V M6I*#L[8]#!C?9"#FN+4P?:%;"^?R-M2I9ELVGKD6F]6.JZI([[;\[.8MT=_: MZ/UM32M\6:^VRPNQ>\(I)4/WGCO42>]QH?M9U]$?]QX;@QFDPUJ.74Q:&UA* M]62KUV!G9Q.?TX&NR?Y<[NCBP03M[Q,/1RK`A`_!%JYJX*GVDUX):]QP6OM]9[,QLO)VE4ALWI- MED!%ZJ#K7*%JU@(@RE)\>'61A\\7(&Y;VS4JHS,8Y*]H+T:!=?79*2G[^JL[A[Q[!FN!A_96==-]7Z;%@!.4@J/HH"M_3 M7)P`Y)@+K49&BH@MEM M%#A..3.6AW'--EG\G?^KHG)S5!,0M!;<$44=&Q@2 M^PGS5`BL/LDZS5/F6]GY%[MOY9'D]ON"8W.=L!N0B%Y&A\5,<4<(R23&\JZ9/E>$TAW+%VG3J MBFSK+"U)4Q)*VZ)FR59P?$>_$9+S@4J>7*PW45JLU:11=FBHC`8NLC+'@0FW MN%?S(*=4N_8KVOU'E7F1R&X2/'.P@[R2/MB`AW68PH.I M(56L:2X6D-R$NW9,ZVN1P<6EIZIHJ@\#$[.9N>DO:*O3F;^NU0,DC\JGYF;+ MMH>7;MA0<;M)T/.W'N1[9W$M>#"Z\B#IZ@-MUY7"D%T[N]+I\YN_F>]8]K!; M9GK,40W]I)C!"(P4?9F:]/@-9G[9-O'&.6W-<5?E>MJ&WVSA61UUZX7#$(P8 MQ[!5DAA@*D)JR9PCAG_=KG6MH(=8*&9SQ&H`PWWK3+V([LDL89IVGKZO99$+ M>4M''_4PA.3E"5Z1HDX1=,MNP-',/4\J)=3L_@Y5E!/_$XJ`H;S=R*L73%#' M=25!4XMZ/'V"<[PRYLUS6BUQNX2C"KH+)@PFT*;5_.@:MC)2 MJ5'Q<2`,R=&^O/VV##4>8$+*24NO*YX>`(:_LE$SA5(PQ-#2W2'1T]A"E@GN MIR9N&E<"--\UB;W2@V+:@^9R#!!U"D(50?D\&M2Z-%GYNGE]-"'% M&.-08=[X"LGHSM\2AI.CO$_4S!S)N,XZL=?&Q$REE^5HH5X:E>*"<4["]@VFL#)=<) M,OVMR-,@2XZJ=YEP'`RI_8+3^P?V43W20?X][F>-Z)Q'=+C,\<6$%./42G;5 M.;8,,'*=2%RY>:\N!D6B',WA4R#>TU;A3GW]G.K4PJ#(VUUA7Y&;2PHJ=_.73UOVY;6GN,NT=4*]0I$]?SHI6,N#,Y4X]'BK67GI1MZP.@#=5MR MON8%CC)V#&C"=BF=\=(;I\P52"W[JQJKWZ7R0XK MMJHW4P_7<46L"J<76L^H087KF8P4VUY'@2PQ_WQKF_(S<]1DD^ET#R^Q1N+7 M]*;9R,Y,C)\Z/`M:3$"C*FK4F%0GR-FPKA=(T$=^8CU:5(A''B(["BP@ZP*4>^B;!&XWWF1'B5N#2 MO=&1-F-W71!V%C?Y:LGU@S7&W8W8YM+A6R"[!*04%WG8UL:*#"9.1I8`1 M\63JRFDU:8&BQF3GM0C39IAV&JCY\O3;+K3`@)M<+$0[&UHTJ,4%XJ0&>X?? MY6[)R_B[^1\;]NKY,"^Q?X?]O,]< M_,,*7%'E5NCVL6RT4\B'M1L=V1B(_C-CA+;T*8B=RIO#N[_,EZ[.RW9/&YJF MUYU6(;\SSRIT/Q.'"1B5^_&T3*'?AT^')E@:C@J>GFLZ2J=%J)##D[J,/1SP MQ57DSU&[`9$ELIWIV*96./:#SUKEN$U"2<>7O-2."P]E0\H(KK^Q`^E\X_C5 MAIT*O*:\[;EJ3>#@UXP;"2O7ABO(Q?V1%STEK_9ZDY%GC,6%$324>LD,VP8_ M9#VY9W!$3IMPGLB3?NN*'`:+"V<,2S5]=KTOH#W%"^MH93<%^-6*9:%D-]N1 M;5Y=%WB=;M>F$9#;+NAHU[<:O>&JRVAQZ8UEJ@P8.W9\FTIMQ3K&C.3W^Q4N MUC0\OYLGINK<2M"FR669P-M,N/5WI'5KX\Q#>;@IE9+.;HPMI!AL`N\%TB!K M-+_^].Z_&TI.Z[NWSM`Y]!'U>MP?%S/^/%)3J5 ML;+QX('^&[NNL#?;RBVY@.7@$\[,JUIC&DE01YS81Z)NLV55JJ^$79Q]&\": MU!+5W+O.0)J,M8AZSX+WNH#R):NU/([C8HN3R_:3D7=N-]]DYS?OES>VV&5U M/.TEV'4^KDS`W\&DBBA#HYB/A$JTB9[Y]D'U.^EX;1@?B_^&CYUWC$#=RK/; M%AX8NQHG\]9MVW`N]8*6KE@.>H%=:=:"`$C9HZ(>DK:4`L9?3Z:N9J.K+6;? ME78=/?,5R4]1@L])<9PD_!J*\I9\2OD]=/7DA>I81UN'FD.84"4YIS#"=''1 M3>.K[JNI3=C^F;4P0IO&"H8'[=2+QSKUP'3-HACC-B6;2=C=:&[R_9UD9OSB MHAM!TJHT$6V^S&A,[]<*$F.[#1_GA')".L3)U>QZR=&%+*[K79G;%?[;N0S%/TC>./P-C>;/TSS*XQ<8S5L+`B!GCXIZR-I2"AA'/9GZ4.&- M!;Q3"+W.Z($4U2TNUI;KCRWXQ4(('6UCJ-`%@U&:BZ%R'I=AQ`:F.U(4Y!O3 MUNL<5T"NV>O5I]US6GY\PD6BMYL*0G:*F%2H,X&I``M1)6`49_I!/$_LI0H M5(,\.]FL$TN,]"7)[PT=IAT:>LK(1'8X/S3$+2X5#W)V]_2R6WU?R#/5L_:W MY#BF8_0"RZG1*).I@"[RF^U=F29I5%CF><:7$]1W3:UFSYF-+03:E2Y3*Z#( M6I0SXQ4NHYPG[/W9V]S'* MV,=[C8N4'>#M;\;H`A;O2W9AK4S> M=LKAIU)%04R37*RKC'RC/XI`)=<_$=#^ MOKB8+*2T;HR?::%R:`9Z>U0HF[2J,PVI^_9VSO.QFU?;Y=L!Z,4F>Z_%A3:% M[0AOE9-\7X2_\8OB11SK<[\^4#P]W7-F"X'&^KKIB[+<1K0- MKE9\.=/S7O11EJ'$,K(J4CV>9B#D-(ZKV2D9V^JU=<-R=E=L!>YYLV\7-&AY/K2+T/J^:7*!2'X%Z[,$N0Q?.!)'_` MON%[L'PJ:+MA2=[H<_;3?)XD;VG)ABDL.1/)HPKS!?^/E,DS6]\UO9/CZXM3 MZS?S,L4&2Q7W@B^AR2;W`F6"^$Y>L")*3KI!T?4%[Y@5+O8+6#Z9J%FXY4-R M^H'LU^/P%_UJ7NC(G#CC3^MP3;(T]D@!;S$(>ES.2;QW6,Z(7ES*WA0-Z1F8 M_*0%N)M63K9EFN.R/,-E7*1\VQ_+B:94]18_52>4QZ^&ES.AG)!BG%S-KD9' M%P)&NE.9*_=@U^7P%9F;]#Y/5VG,,A-KI`Y#WQ^?^-?&KU).MO33C10^22@;CQ@2U-N!<:7V>M6783M,ZW:>G;=#+EL=4IW?7LH\A M&#F.83O496V+KH&E69`9FT$NXNRG[ASH%[Z&ZZ#T>-_#2D2@>M>6#\^?:M^!RY"ZCD-^` M7P6Z$K=;@%&P%TWE@L".[&`(3.9`]_2^>G!8IVHCW/>5.B08`5GIJ9[MKH+L MIWH'35W^R00.>@V+E7#O&A8M$HR,K/2T9WT10Z,S,">8NL>P7-(Q8$,JQTJW M*QPM$(QN;.S4]??\'IIJVJNK+MJK\&C<^#-.[GM'24;T;CN4&+8+W+GJ_7YR MM[EKL5,D'SS4A:*V5,A=\X17X_+"NQ4)_%.Q^O1=ROLM?RRN M'D+_M<#X`,ZCM.`'/#JS:HZNP&X24L`^Y+L"M>'!"-"#I)+VB)H@;M/QM?#F MWW4U+FGJYW)?=9&&=69V7#0]9:2[7U4IM]\5`PQF:BCI04N=M MB+*;*JJPB"+-AU!]C,*=J?&M0'NVQF6QN&)&T53S8%%#MC&Q,46M[3Q'`#O) MN<3-]B9/XT0'.^;GIMP<[#-#00C%S4^=.VXM_AD)FSUT2M8;^F>GKC!]TRE7S#?BLMF-2TR,F.#BEBP+_\^67;S[:.G`W/"@BU<.TKWE*P-V<1%Y$E3/$$LX$GAP,?2P0L[E M4#-^25'9%T5-8+"REG`$.(;N4(V' M;U#(?>[Z$]#\V@36:?][FA'G1WXQ64U@J3^`D`> M?:4YJDUGD8P8%7S"U0-+AR>?ZB$<7\-0\AE7$2DB/RL04AI%53D+(2X#6G/K M^GJ5&2<*X@><;-EM71_7FXP\8RP2S'_+Z4CT(=U<4VX?;ZZN7;WBCF4%&Q_N M6MUF_#BU(!`"W96]HMFZE#K!0TS6[%YWGA0-;2@22+S'3AS3GIVE%.43+G;7 MZ6T5],287Q5ZA\;L)HL+A']N+WUS][\C;$/Y MP='5D7[/VW!Q64UAJYS_FO&./H?,6JKRO$YO-EBN7%&DG_0FE1=>CCM46Y7H MA,*`R79Z#2Q2;@OM'-?JKS6(@F>1^.D#I87+BUQ72Z>@1UF'DN^$*DFQCC`% M(W.W,T M+W^B6S]70_]*"CX`HO](G:J[JW:;!)N?\23?S,PX\""TY$G2)*&..:KM9Q%. MY^2K4S$6;"BI..E*C1B!0<7QB(L[4N)+@T9<).<\<6S8QM,]?\AN`'**PFT2 M;D./'_EV5X\=#\*->))TG`U%W#*`9"@0?R)Y]>#V)KZ&R\C'51&]B$Q6`*7D MH.H4%+-'HH!YLH'2I]0WVYUMW=&,'1XL>Z<'Z28KIP4+0B\>!.UGBY&\X1!1 M>W2\O=_.M&GPRZ<3GH+<)1(#+I0ZK#2E++0@$'JP,7,(@9HB9CO36+N^@X"4 ME:\2/&S"C:T]Z;=C:HBG64`9\R=J)C]?L&8[Q^@X73+!'H8X'N8>'+I,% M#PHYAH1V/`B!>9+T.3<4YAQ0.U[]F"EF+G2,:6UWC.2/? M@F"HFTLZ^"6W_"BT;5MZ&C`(3K]4Y#-A MMU9OFW+1@R@8W;.29UI/$NGD>2*5?A6]U3BAC'`K3Q.KURY'C2P`A%:GLC9> M-E"Q@A#)4014Q_U*.C_?I3RCW0%"VH2C93;-J\T3-D7EPW5!8HR3TC=\\\WM770.)MGA1H1)=;XI2/N'FU7V,W! MD+R+#]%@<3CK`:_RFRC#.DH7>9QM$YQ;:9X3B+RI*G;F$;\V]).\9@U;O(]1&Y MIUVP;6ACJM%L2_,Q`J&[,4R'>AO:HBCY[VU]DJ5R`3H7UHF.-*C`7# MJ93[EL&Z]'%5:7IR/S,0:AW'5=]O:^8?,IZ[LTA+]B]* MK]T3HT[!V5PYA7J=PB21CBYAD>Y]O&A'FH,0[S3.[D[>).C%9/L95]KJL?Y$ M\U[L\&!YL3U(-QFQ+5@04O,@J&3!IGVO1DFOF4J^X[WR/"'UJ$3M]2)__A^/)VB!K^' M4H^6EE1*[T<0JM`QTFYYI-W2:M9DB^(I-]1'U4_1;2A2,4'WP.KH]3:]=@$@ MVM?$RMG&B-G,TM!RX>`J]VER*SI4XWM0EC*P0$$(PLUO*`UIP>)2-GO5$PDO M8^:I>A^96-'A)^"=,K%`0AO(FD+MH3"D[DS'R!T"L^S,\\3`?).ZRPGH0*':UTQ0-K**`-'21EK# MYA8'0FEK?_^]^)C[,:UH?'8HX'"1%;O;)TW2J'C6+OZ.+"'25D(G?@F%*$N:Q.E7(X>'1WH=VC-[8LI#^-,E_=_CFPX>9KS`Q M5^!H5'6/((CGR%\]1\#E<^2CGP_=&1Z->M[_,+=Z2$4#NS3*LN>S--M6Z6,] M%W^UK M15"G4-0-T$JV5X,ER)@IUXNFEK]$!>NO/27:HA=4XY"R17@2"E5C`WY>PLQ)1=.]09)\-PWLEB^ MD`07KW8T$FTY=08!H M8R,MI0L70/3Z$WY*8S*/]_Y,BCC*[%C]HH?4GL3ZT#A,JR8"+995H8($*ULI*6F6>'`>=OYE$;VT2EA5!)B;VTS M-%P"%3O9-G&*'@>B_1WDE/P7#(XD?F8QX*(@QW_?9@XA:&'!1&`AV0A`@X'1 M^&9B2L,S*&)8]/H:%]MYFOPRNJ9O%I>.F$T/"]7D-I*RR748$$UN(:9<]Q&A M&CMGDQ]7U($X.G8%$JQ;-Y!K.O7![R":V$!*Z=`9;,Z6_;>H2#>.IM5@0K6M MD9YL7`4`HG5-K(;-*W#S]M#\ZD)[`ZN04.UK(B>;=_@[B-8UD!HV+HQDPYPE9C^?U`*V;`/GYN,4]0EE"AI6SR MEJVYU>0<09K3)%C0YDF^">(<>!!J\22I!'D]LYG7SCIT.@MXUL4@DTGX-34[ M>75]38\'H15/DK9UMVYLP9U.TIH'"259HE6V0>J:9\7RB)2&!DN%F7KBIJ"S MCP:A'B^*SH`4QV18!H>B.M87,W5[^F.?I$ MMGDU[X+]:;1)*Y$KJN/&N#!9LF;MM+;#(MPB@1?U=JW`"@>A$C^.ZLI!8X6Z MVWM.9_,3G:?P>"E)JVV!38JQHA?8W&6BK-GD-82"4(F;GVW35]=D)G%L"ARG M47W`J-FQDB?VT-73+IQ@1E2CE8Z'$1`1^3-5Y=3:RJ-?L\8C8V3D81,Z6O&6 MC],`A'1\61I#FSDE,YCR^Z5(*WQ&ON6FSLF!#S9:]J'=#)5M8!`2\6&H#)+K M"5AIA+C5/C>;-2WSU8K^?YK?\WCIRZ<3EC1(ZS%M\-`)EVVDA]F5=5@0,O$@ M:,R;3&H;,1Q&U(IG>YK[^K'CY#&B#?2%/$=9]7P=/3.'Y[C$T62SP"5E=OJ: M>\OT!B#4X\O2=JU9;V8N$J6@0A2#-G4YLVCJ?%OD/`H_3Y]$_(ZKJU6'6S?* MTM1^I'THK4VJEM3=*&,0&IS">*C'I@P^'2P+VN/7:)!5[T[&I%/:W` ME#2PX\F@C\L2:]V1)O MM,3X=+6F.BHD6&(-`[DFD<;@=Q"M;R"E7QR8O7V_GMPT*3I/:?"55I< M\'(9A&I[/^)2"78T"%UX41RJA!JADEGM5RPW:LSM$"UZGB$X?5Q+[23*6$QU M@N^UEX98L`$U8J?;D8<>"$495G9#4?#?V(5XBVZE$` M=?#,O)2$LT(MX:;F&IQUG-LC\Y&G)G%1EJA%FKQ/4=O<`@*OJ7N\E*&!R`HCG?TG2O9! M>OIYDL+(^7Y]S&)96#`9A%ZWL1,?+MKHT2!4XD71N%P3.'R4S_UR#DHV5HE$VU*HKF[6XD2&;:XZ>#X7EPW472F@JZ&$3=+.C M#_W>?D>;`0@)^;+43VRDM>&>04@!;IFCSD]3+16RR%US'7+:Z^;H[R!48"`U M;/1!-G[:R*SK.2G(K[B([C$ZCF.^(S*JFK3MJ&!YAPA%!^C8.O%WA5H%HR=%B`4XTU363+FAIU\U!6I;Y5BSHAYJ5\>THR- MJFB71?_+1EKO#_Y1Y#IGCBS`Y7GBF@#^1#_)N0R"+=UY$6^6[JQH$#+SHJB, MS\4M#XUBM%W?+,*I)XL[N6-[LPJ:"CHM0DG'D[K4C@,.0CQ^')7IVWI:IYL` MF"E(&*++N0;KO[PN[19[M M[0RGN0EB@Z.RL?+Z3>AJHJ!J(K;%_[;-,4/J MQB!V?+`QG@_M9GAG`X-0C0]#)8\3_1G-N0!F(_5^9"7>PY#&^S'2>`]>&N_= MTG@?7!H?1E;B`PQI?!@CC0_@I?'!+8T/\VR8R"-Q@QY.SM*2=UP=GKH]``Z# M8-LHO(@W.RJL:!#R\**H;+9LC5!26\VWX&E7A@H)NIQI:?WA[R#:VT!*NS8Y M3S:.;5%0)W3-]$-R>]M:L,$R<+CH-KDW3$`0S>YBI^3;$'BT$0;SI&LF^3U; M*?>2@@T<+'6SDW"3P-F(!*$&)STEF3,U$#L3$@J:YXIP<22VV:-[@N]/M*=L M3,!@%WY;B3;W>FM1(%K?2DW9.5N?.49W$H[:7?7U3,1<>J@O:Y-QB9)'OR,8NP$4[7BQU,FH-FPBQG!"DOZ.>3B[7U%Q0=V*B6;/JPQ!4(1A9*;W M*;)'8?"04NAZ/LO1'`MVL9[&=$#'"(0C#0L[GRYGUI,[%J9S"V1GGMS.0XM=*FNQ.HV-#@HLK"1\^E3YE=$QZL=BQDQGI?@:B6E M?$OD7DP/Q^@N8JF>Q[=RI@[)90]'<>-)>W1?W9+81N[&:56DV?_/BU`FO5P8872=G]U)J+B%NB6+BQB"H(C!R,RC(PFE@RB7G=QUE"87^6E4 M/IC]G0X;N,\PTQUT&RH0CBXL[(R')S<4R4X'Q!0[UR'*)G9I75DI?9FF+DZ+ M@,=HOZ5@-S`GDK>I$\(WK* MV@PC?2@(Z;CYV;.*R(L^48%%=F4Z+)8N:K94\I+O.2F.X[C`]2B?1EG]+:;= M<$U3]VG%A$XV,:62PPP48\H`(3-.ZPA8E(TR M6CB:=U-:DPSAEHB9!_K=Z!R\%A:L][20;#I+#0:$DBS$#`DJHFZ""C'!@]C+ MX#[M2TUMGKYP,)1@V57<`PZ!6FC0UJ5H&*XQ"`@IF'GIAN\L-U;;S15S);J1 M/>'WZ,-+M`W83FG3B[3Z"[-TNK97,D.)+`Z%'(# M832_0]+$D)1!#BB3.!HIQ*1(<#)+._\4I?F7^@'UHS7PV9GR*:E$0T8ZX][K_?I?W_`/_R29?K8Z_<6+(7>#_.DT),>ZF/V+'*, M6#Q>!Q.ZKU#H#?N)!@!"&R96QOZ!=@P;^O"'B/8'U$BHH&3=Q&F2_XXV_X=6 M'+/Y"OK@,URDCU&5/N*+O*R*K>%23RLZI.]P4.[Z$`,4A%[<_+0^A5WW2L62 M-&;4;4B[.=-+76W8N+ M?FUB&MG7]9EJJN)K&/A8K&=%!F=D'58@M#.*JNGTK!J3HH'49NMWZN>7`A^Q[G+2[O8\1#$)!/@Q-/9!422P,44PM9Y6,N(:-W5Q<6JX\ MTZ*"37.:*3:SG"HDJ!1H8]V1$E^:YCJ-])2ISOGNN?L4%;_BBLV?WN!X6Z15 MBLM+=J_YH8:Q#1PLSZ"3<)-:T(@$X1"<])0$@HT!PB+U6]D8(FZ)#L-JY&A, MM8X`:.3(6R-'L#5R-%TC\]QQ9V2J2PAH`R^N$245H!D)6R.F)(`>&IDG.:". MJ>GR7`MV285HK],U`L'JPW;!KE4>\R6"DD,K^A17W&F&!DO]XR#;)/XQX$`( MPT%.2?K3PF<^+V$.0#68\")IFGB>DZQ`R17(J M9(%&UL9MP]^A-;$M2NNU\'Q1F=REJ=#X(D+I M8VKEI'[&VH/0UT320_U)'*JBIV9A@XT0L"RI/9?`(-%\4Y@=RBHU54WO%J;T?'.[7^JK__+?&`=\R>H/78`*%4).=(!.1'K&X=JRTAI)I0.BO'/9?P%1Q MF>;X@O[CT.'8@(NH0R&J54B#@J>2(36+4A@4<>S.LZE\WM0D="13DH2ZA>*2K?-R,+/0QUSWMQ=G\RZJ4C\JWDK MHAX6[+))"\GF@DD-!H2;L!!3+I*4Q^3HV+ED\&;G,SN$S?+=O)"GT/HI::2_J](:[RP5BT5AK0`L'C@*`F9JP1(,1CI*5.4[51H(L4T&-FNP<6RTUU:ZF;Y[E[^$M:/5SBJL+%U8KE MB=,F4O$U#)8K851%FEP)7E8@OMU15)5<"6P@P5.MT]'$V<\7;'-7U!2#OM%R M4,8+8L..E!CG M:)UF%9EGED(\L_-D(_,>)FS[:NCU6[D#`-36*BM;B]=3&:CSMQE;_)04F^,\ MN:H>M//\.E#8-M<1[#=Z%P&HU36T?)J=F1&>`#+*$\2M9VW^O"19FK#4Y9:: M=$&AFU\E.&S^%@&J^15:?LW?FLUU^0%]UJ=*]B:Z27D%$O#2`BVYSH4$O=]! MM+>!E/$B`=FEOS[Z;O9N77"S=^L:3-CVMG3K"@!0B[N[=6V3S]VO"W*.?ET' M"MOHMGY=10!J=H]^7=ONH3IVR=+:L>M`H=O?W+&K"%#M[^S8#>T_<\_.)75H M[=E52*A&-Y&333[\'42#&T@-FYO#T.O#^;MS0G6LP81O9TITK`$#-[.[. MVW:>NP\7C!Q]N`X4MJ5M?;B*`-36'GUXV]BA.FY)S=IQZT"A&]W<<:L(4(WN M[+B[C3YS;WU=X"IZNLAC:X>M185J;PM%V>`:"(@6-_,:-CE%[K.S].+(/'K- M]GO,WY$W_.Q]N1X6O/TM/;H.`TL![GY=+X&Y^_B&H*.;-^""B\#6V6M!L&3@ MT>7K=1"J^^\PM48`!MP">C#'`5H0-#TXHP&3'F:.#'CR-)'KRAH;&'!!;[$V MT>S=7ST$@1""C9G^SFJ1,0R]?O?=Z_?S1P@=?O88P01<0`>6.$&/@J8$=ZR@ MD\++IP MQ@YZ72"6VN,,"A:@3C_C# M*)1008A"V1J(6-&+"<8(]>])97_S(37``7[V6G_/=C^R<9FZ#41O10+:! MAI]'&RSJ[T=O"`/UXHWLC#L*7K_S'N#-^L9'[\[+`^">OUVBO9IWZ,Q*X40E^>@MH1/ M)Z!KBF7[@AT7QZ`VAE?7H&L-&#W$CDM3<%O%H\/0M\JB_<8++`J!:A(W3:\9 MNF4[D1=9B('<+#X=BK9=ENU17FCI`W++>/4NVJ:!T;V\T&(#[";RZ&H,333S MC@B6`_(KRP#U>F21H5SS=?-%5S&81:H_(C+I5C1X-8J?*B.!3-99U\ M<]LS1&5C.8MHVCY:3IJ>$OI?(6"6%%2K'"^K4/(9406I(0\3$$+RYSE44R>& MXNG1^'1X3-C_M-8S*^H,;PH4Q2J\HIQ54!5E-`&F*!=/FZ*2CNWL M@KK('ZEXV/R(2^G8 MT2"$XT5Q*!MFQ"+NDAJR-++AA'.^S9/R"\NM7^#D8_;,'&5?$?)7QEF`]+MA5"S::S:T*.A`((=B8 M*7K2&U[CP M'T$TMHZ1]5(6"IO+X0NE?<$Q3A_U"=)53$`7KZ?7\>U]`(CF-;'2>?/ZNRUJ MY#S!6Y*DS%=$&0\\3TA1D&\X^?+I1!>36,#!PCDGX2:N,R)!*,%)3XGT&H,Z MTK^K3=B$!35#ER2:*<)?DVU>70EV["FZZJB88)(PT6N4,`3`$("!E=+N'(?& MM/1L$\PTJ,PR%E*RF37APMCDF#JS;``&WLAAGE1V\5/GDPT6"UUG6.]RW!;% M8%BC!0!X[79>BN8Y:@_5N*5>\F.49JR1STG!6EU_5ZP;#>GUNTDJ;2%-]E>D MV.<^&SR]^L>TAOO$](KW3TUS.\BK99A2Z9]7\M]%HOT^@NS7C#6ER+ MB@+TNBWDE.U5+71I3\.O:._=KZM[\2H*T(NWD-->2%]#_QD),#JNJB*]VXK% M-CJNO8Y`M<=%'F=;=KNNG)/KT+TEGPG;IE#1XFEA]W)GEE\;3BD9=+OO5"$? MK>RAYA'H6DYY#N33?PR2SUG>L1[GB=_7[K(!I`%OJA87S+>I"_A"C72&"QK3 M5^DC9M%^L67!?LEV!-!HG]SG;#?;17[!L^'JVFN$.:"FF\)ZV(IM&:A3R![B MNRG:VBU,KR]YLF[: M+W9,V7J0,%ZHI;A*V'9UJLCZQL^K#6;'Q_)[74/9$#:R8NF/ED!LQ(=G["C M7Y*T7+*-S)U#HI,0+7Z3_$5..[,'LLSRG?SNEH6F:;VDSU^U-\O($ MKTB!!>XV>E)7J"<4`:"-=F6N=DJCRUHLGESAHL!)PZ3^R$]PCE>I=G3H,`'0 MG&.9JK&BL*N_1$0MF]N?7]?&WRT6'TII31W=CRL!4'-.)*[_.&7X`7-,SAS2 M9URI=;TA="0:%2GI#F"'3MC?$D#K3B0\;%7_(A;Z<'_!Z?U#A9/C1]H'W.// MV_4=+JY6?*?%U;8J*QIB4<6=1&4:\]%0MAT<0-^M)`!-_4(5&#:]+`[5Y2%1 M(!M*B'TLJ%/H'N+%UL-%7O`2*0?(>E/@!]JCI(_##]B#01`$[J8*=O` M5"R$UWWD\;Z/X+[PHS%O_&B15][.MW6F")J_G9X/7[\+#Z0IO&F:YQ_UA@LT M42M;G&V`)INDF4E3V/(PI9*-"@D1#? MH%L0-AF:G#Q_+=D0J)FT.8ZIXHP[1/RM`33K#J0U\2/B>Y9E(>QLTFM6#DKS M[]HI+]26!:M]Q6GBJ>VKL8;?OC;2(]NW*6KY]JV/T)2WY#CFQ^3:3;5R-'J1 M-SD*#,T\NA!`K3V=NW(]:%T2&]C79:'.%N5F[2C-4;<\6!_V>9I'>3SUP]98 M`VKJ":1'?MA-4??GQ75D44*R>,-1`@36!CIM^DW,,NM3&33SI>E.56/W_;_?UO M[Q9_T59:RE9'#MI#`K;'!L+3(P M,3,P,S,Q7W!R92YX;6Q55`D``T,-C%%##8Q1=7@+``$$)0X```0Y`0``[5WK M<]RXD?]^5?<_$P/MU>565N2O5D[V4N-7EXEDD.<0L'[*T M?_T!X&/((1X-#C$`-Y.J['K'W2#ZU^@&&F@T_O+7YV7D/:$D#7'\TZN#[]^\ M\E`\QT$8+WYZ]?EV,KT]N;AXY:69'P=^A&/TTZL8O_KK__[G?WCD?W_YK\G$ M.P]1%'SP3O%\QCEJT^O'[][=NW[V/\Y'_#R=?T M^SF&-7>+\V2.ZK9^33*4''S__$!Z?>IGY)?#-P='K]^\>_WF_=WAFP^'[SX< M'0%;SOPL3^N6WSS_^*;X7\'^ERB,OWZ@_[CW4^01-<3IA^'P'[]^_?\W^MB+M4#[?)U'U MC:/757?JELG?AA+Z1D_2\$/*NG>)YW[&1I/R,YZ0@O[7I"*;T)\F!X>3(Z*9 M-'A5@<\03'"$;M"#1_]-1D7]U11'8>8G(7Y.R&!8OJ9__YKH*%^B.)O&P5F< MA=D+55BR9/TE,K`&'Q/T\-.KYU4TH:I_PC#>GP?N6][M_/ M8S^BL-X^(I2EBHYQ:/YQ'^IM7/39[AQF.> MAC%*4V*&M^$B#A_(B")&.9_CG%AEO+@F3/,0*8U&LYG!^G\5TEDQNDXP&7.9 MNJ-"^L%Z-"-VF4S35.UI.)3#C;A'G&1W*%F>HOM,-=)XM(/UY!+'"V!'>*2# M]>,4)>$3\4K4T-,L89./2D-2GL%Z=NZ'"5O5*'K3H1NL!X7KN_.?E?;#H1QP MS))I[1%'`5G%GOV:DS5!RS]3STS\RR=,NA!GA(-\87$1DP4F2M5#?/NFAY,3 M+>A`ND$K8G?D0ZJ^"\B'ZT]^GZ)?<_*-LR>`48C(=SXG#3PW&9NCH!VX\^^C MP:1I-V9NO@5U6L%E8NX%]4M(;V8>!O5)PF%D3@9U2LPP_"P(ZI"`VHFY"*CF MH3Y@;%Z"R2%EVKD/G5SYR5>4T4[A-3;$"9FZ9QP[Y30AM%03G?+K^\> MK9-'/UZ@]"+F=7Q@;'2^M7,DRN]_\I.$K?<'$EK4K+GY>%+^TWDC\2T@`;=OT%S,FD.03"_B=75I/%G&.(P9C/KKDE[ M384S/X)U6K.5G?2>=!5=D37!(Q#X7FV9D41SA(-XC:R))\W_N/9?V+[/:8ZF M^2)/,QCNO=LS+]'-\OX2^_&6QX3]E+.:?=.+Y]1KA+`Y0H&T]`W[!!:D/C4N]^05C4NN.8R"[ ML7,)W?X"V67])6::$EX6#UZ2'UHLZ#E#5'550[33V^?+D)]I,V_>O#GP)E[% MT?RC'P=>P>XU^%$`=H_KR^_R'HYO2):!/J:Q(#82)!0+->Y9AOD`+!/W(0?*[0-K0P M);T):(_.(W_!1W^#!(CZ6X=0YPII`^V3/*$2GH?IW(_^A?Q$.NS%U$`=O'-( M!RK1[.45P!;:'_W5^'X7S\PC[@E"?0P8.U9P#GR.M1:^$ METLS/&/W!1NYOUS?).6#*L?!0!J`A\U0KUC\%;'/.?E-,(%( MR*&Z<3'@%DIO7R5T/0Y62(,8J@X70W"!Y!QE_.5U1[A+\H/)[6_^UR;SMB'KPTWNFG3R=+'Q_50PK%&5I]^0ZFFCNFW"E'-)= M;:N!@%XKFA`7K5EOA>^B]Z6/_D1_3L<)J=^$GR0E8< MK0MX&SM;,%:;N^MR!6!=45Q2W/3)#R.:5'Z.DUN_F5M>BBLP(S6;S1UYJ,+` MTF^K+.Z),G_`R(-!I<% M`H)>OB\62#%:T,4.H[5J3-<)6OEA4*;`5S=86@#Q50MBM+G1#U6R!@*.^#^U MWJ"27W.$7V+:O(K[U"V2,.UO?41$&JM9(8-5SHTX7&T<,K;@$GE[[+W2R)3TGOR0Y:EX5@FWP]6D(JFF,XCG.8)DN^T:#8!U:O#\5TOT(RDCA0[0[(#&CC@1J*S?E!MGM.X M93.Z^\P#["P?.AR$C65K^;I:K[(.2S(1N83@-#9W%24!P`T-->ZJR!)%.U10 MW3@<<8E$=T,QTR!@QTU^=.V'P45\XJ_";/UVTL;^O(@8JB8S!Z3#;-#+@7!# M6S>T5%.,@C,_BT=Q($D"$\U`P3T'XH#IT./:%P^.&.AO]$U5" MIU7P/J%L]G#G/PL/S?0:@2K:X6BY)W!N:+V[JH(N+N&ZRAJ+1!\"_*G9?7G]8;GHI;XELW.KYKY0/A MZ,9*HBT,Z?XL8;`$3(QKE#"Y(+H7\]J\J3Z4LD3J5R'FHI8+Z:=Y]DB6N+^M M_;],NUT>F[?;36M5A)"[VF3U#C4T6=';O/*^&RVVD7%#@XTM]('FX>U:M'D9 MO^@G6K.E3+8O,5O3I-N3[6=CLKF M62&QS4*^IC7G^/0*+*PY2$E-8UE))O4'J[%I8:^I7A>DLX?9"A5/M7**";Z5 M[3.M&_'P@]=HQM[@+$[SZH[)EW5"8JO6E;(,N;)BCG)A*J*VN/.CT$'+7N3" MNN'PNH\9\Y7!H[.Y.Z-$%TN[[I(*3A$!CL0N#+8XF"[I`=%OK0>_-G/))0PV M-UD]6F3@N2UY?+%=^F"R% M%]K$U'8W-,`J4XGKAK55.0JE0/2.G6@ARB&TNR,!5H5$2+>T0,0Y#9_"@$1* MY0JUKMS&0CRY:M3<=O+ M55V<6K02KF,4HP?1=5S-GO;S?#Y`QFW71ENJ\R3YITMH;F"^:W6*]6S94U, MQF[H526%*F'TV$_#.=MHCG(RZN1;.&!FJ[5/=9(J]-!P([11=+J7ZBR70M75 M`UB#;FGN%Q0N'JD\3V29OT#M?,9&(J+<"O5;@>K6]@917WS`=QJTRL:];ZCS?:[=,Y=:3:_ M#Q!(E3_;L['?8_!KQC]OI2V-R-BQX['/<8+\B.:.Z1^4\7CM)A(/I40]I(Q4 MRFUUFG[MY$+D&SB$=E.'AU*#!(-M=Q;NC&S\=SHL"JKI5%X&U6"]`MNRF\UJ M3/5:2.[&(B$[87W5*VG-;N[KCA2L1',W*CX$J^]00S6&#F",J>9P&[_K5O&J M%C)^^G@>X6^<:.('C6B"M.(5S3A1L:J6"ERIBL-A-VZ@';I.,,WZ#8Y?/J?T MJ+#.&9S.L_"IJ+(F%;!/.V[4H1)JL!UF]$3)B.-L13T=NY)$?0U:FZ'#%G`* M0K^N7N4ITBB6=O"##+KW#]!)1/`\CU)+B#@]BB^:_:C/@T33= M7:G`C0'7#9N;^8X"%Z%DLGGIKR. M?'G)$!&MS;ND%@:''#)#9BW-E17;M9+-YN50*X8-!-*-151SXI\]T-OJM+07 MK5)_G:!EF"\%@9::S>:U40MZ!P-IYKW+=<&B=?4'NJY;%X8HQZ'(DO5:L'J5 MU()V^^!K<^KF#A*ZTF"7W>FS$?5Y,WTM67+M7\A@]=*JA2$`0,\-ET[$)E$\ M+3U2_+LI*"MUH*P""&6W>A=6N0# MXJKZNB_^5#55:PR4+\-OWZK5.[C#JK\?H&X,#_AQT+9GCY:OZVZC1R>KS*F1%,4E' MR:`5F[-6`U:O\&Z!/.XGKDMNN]%3-M&4+FQ)HWW1P;2,P^KEW$%4"4'$C,TE M>(Y0D)*X#X5/-*>/%GF@4=GLH3V*!$]&:C5@]:KM,#:GCY<;-E=UO.HN6>1= M^1F-PE](SSEY]')U:S1C]7[MH$K7QLX-U<,QV'899/EF[B#*UD?K=[I<+A_X MVGJY+&W'ZFW?89;+`)S<\`,M-_:(D^P.)4MQ%6D)N=6;NUNH0>#2>5@XJ++U MJ79Z]HR2>9B*'Y%4LD%5:&0':W@5RK!Q3Y5DI8CIZJ%Y*TJM23X75)%&]J4& M5Z0,&:,!$/WX)8X7<)_8IH:JP#K_-0\35(7.?E3= M/KN(;_/[-`Q"/U%N%6DT`]7P+C>,-#7<%[O?18D_('[;KFWA`V67VU%Z`T4? MK;''0%1<$M;3?]&\X"<2Y1-#N49)2).#VX M3PDF2?)"Q&HHN<,*U>XN=T&&T*X`H][&OV*CA83A2>:J"QAN6'PYA`\, M(]L=NQL85-1!AL99/'QMT=M\M8K8MH\?K=_AG3U\PC$3#KC;U:,9J/;=C;E[ M8^>&YZ]6N==^*-@Y:5-`%68DMNZ/=?=UKJ;`1L)H<&>W-":X3HR$84/H1!LJ M,Y4`BJ]5`^3$7X59<755$`!)Z*$J,1+PZ,.)04(9Q/X2^S%+TF!;7?)"Y2): M*.:[/$K7FTOD*!@!_B)-<])#,CK8AK%FR7@H,_@JM+.JT<3)B*[N$C].'VA! M5?KD2.+SNR#JVN<5CFFYY0O!7?;A6H=JV]U8;VBDS5RP#--5@E?TDAB._0RQ M`X(STIL7NE\MZO+T^N)$-12&:1DZ#-R-[(9$F#,$+!01.\[3,$8I36B_#1=Q M^!#._3B;SMFU0B+%-6&:-U<&=5VQ/WD3;[V8(/]1->7Y<>`U&O/6K7EUGL'1D3QZ0?7_G2]6C&8F4QM>X:QMH; M(326[_83WVWD8C["[O(E8WT(I^ MK@606]C6C=I^`G2S9PKK4_%8-+N!]+OYFJ@2(#=,DI]06!GEP9M-HV3T'F7P M&(=-NRSJ;L#,C4]KLU92$WB%]8AHK5J-#/WF%K)43C>,@)M"5MO`P:8-4/*] M"6S?_2;L"@L0D([!`*12NC'^U]7H+F(B1]Y^=[PVA,--0UCS>4U&FP;!$83, MX#^C8-':6X);S18-6BV8JMUOA05NUZ)50]UZ3'"+.?8'U@VC/_?#I)T:51OZ MT::A4UJO(+8WINL.-P)=N?7*.2R:)Z]C"OM3L%@T,(A>&A8$DMT-$ZD+.W(V M_0[>;AI)^>I?06ZU#E'1:>@<)V6P_G9ZJU\*&Y%S6#01@$XZ#Z/+!7?#0)I7 MGXH:U=TWF.)`<2)?6]2[[F;#NOG_]HH/_''CK4WZ#7;2U?Z*5W]FP#2DC'@J M7)Y4^M'ZS1[%76,`WX#9;1V5*#<7)`P6;08.=VNW02F](Y:#%E26&\0.L>-% MUQI^Z%A#P>*M>?[=AO8&9JJ!+28?W;!62>[(H,[O4_1K3EH\>^)O(722%=8L M7LEC<4MVH_NJI'H1M(^`_3`32`937YCM\6IK0`\/,W:;Y(PIR6N'O;+F*\`M" M1;F9;S$)B![#%7MCYG9V#?57_9NS^IR>E@_;%C(W[@O2I&8B,+W5SH)@F`FJ MF*P^E:=E>S#QC1C=NJQBX0'6Q15!2M!@M_KXG8XZM"$9USK]CDK&6:5W38YE@3X(A'SN@C1 MH%8#HUG-]X#%#=?9N28A\)&'G932[F4)%SRA$[*[XRB/[-C'P^JSTYS-%89AA0J@<\,I0O.I)IIY M*J>$-HPXWG6K8J@T%Z'NA[?N".,MCOW:2YCRQO=W97?VB5N0Q*U.W0EU8E:# M9T1<#9R<7YSCY'">H.-/] MF2Q92<\_^F$L`!W,/)JK#YIPF"F[7AYRLP(<[0[I**=',Z.YZ]`;HAW8$,14 M1G0A@2_<^),RP$LZ:2:K<`&WW3W7B5=^U0MCP5INOU@3+AR*9QG8P\H:"P@E MUUB6;%#Y=[IJ8]&CWM*M9!G]^JTE^L".EQ%M_Z$>+UG42&41[0ATVJ MBVE\'>JW,IHE85^`S*\-9[&\;X!UH;J)<:X)H="825!!\\A/4S;!4YCN\'I1 M2KMU$0N7B4#6T:P>M:`PHHR/M)1`)RB@AW9KTQ6J`\P\F@NMFG"8=V)]5:/= M"%!%/UA744]XC*CJ$\JX/:"V*SAJDW(`E6#D(5DM)4`$-X(XT6BI8KS4F-4! M;$#LC;P8JX4]&()Q'0Z5`?LG/TE8X>WNIL&6U^[+#WCU%_9[`YO659868BD9 M`DO:(!E+U,^5S-#U#_J)6^(3RV]*$GG:9*,)Y84B&@&TVJPAX0H,6BG#:`)K M@-AF(H(Z,@3"+64837P,$-OL;3$RDR_"F*;5I\H1A-JB@0TM"\L)CQB.STIFK1OF7Z9)FL/[&8/N8D!C\U,^0(@=0 MOQ5PA&1=6WT1,K-IQOJ13I_\,*);1>O:,DGF8KG?1!"M&#CT44?!4U78XA..IP"F1TTS1]>QG?QE&&8[7HY,/+)_2;BT;,598T6^# MD#9J=ZILAT-HMU8-!%")?&:F5'_^F,_]QF<%,RF'SN;QB`PG+.VU03`_X63N MQTHL.60V#S1@4`IE,W3M!L>DQTHH>70V#R5@6(JE,Y.W3Q:*_@FFWPJP$E(Q MMC M8:]L>;_-)4\.1&1EN`CGYR&*@A(R45H@GW0\6UU26T0[23Y2?5 M"PXEUX@>EH%"8'BSL?'%QJ:3:N-1Q&5SSTP3?R@$.UG.L&=4SG%RCKG+RUN?+[PZ,;SPPLEM+0 M)E_]8%/#XS$KI$4J1'M]"J813;Y```S=>JX_R&;](,QHD6XQ\%*&$[!6"^';T<%&[LCOR1A MAD[QMUCBA!0L=L_1]!;^$.'=6'LVWD2<--]3%&T*==[K:KWMN?G4IP/[/[_W MMSZKKLP>R+_#>,&Z5+XI).\\G\/BBG;X%S\AX)BNTSD-GOQXCF[PBQ]E+^4S M9NHJMR(VNTE80RL(C),1+9WG2TOR'EL+KF'UQ4,(3-7IAKO+M-M.;XZNE0V%]MF7Y]N MHN#&.K#UONRD^^:O<$'8>?IO\S'I[B^L04<6ARX][?KY^+8&_H2,O3`CBE7T M2L5C=[D`?`X3)K@1WT0^O?[BL1_1)<@Q6HA*SDG(;4[M0``Q1(Z=@4:P=88*;2[&IOL\KK<:''[0(U".JW`CP^ZDLGN'CX0=:#H1F!O32OYK*YQ=!O+I4(;RI% M*8SS96%RY1``*P#,;/.6.E@/FE`8]/FZ>AA,`4;NLVOZ_5[(6PBE+G&\J/?; MFO]196VMNW!EP/@-71"X M_I;'B%(*UJQREC&$9""IS00*DB^_UP")?+:<3QD$^6A:>K&1J*LHIM%*MP ML/BFP&^Z%.6P[I*.8N4M%=,WKK3;&<5! M2'^`=N&[MC`LG49LU@ONZ^GLJZEAXV=Q`(ZQ*EJ;E85[.[.VH#MR60IT!=16 M"PYOX7]V`W'3E)2CMTMJM0AQ7Y>A1-:E+;,Z'5&Q=?9>=^NL:GB_AZ;T[_7K MN7X87,0G?OHH=?$\\A'MI(FE-97S6D_@:R^85FY0<+:J8AK%1AI0]%W`7M4= M.`]C/YY7)6M`X(M81['-I@6#^=L\9;%D:1TE*<,HMMX`(KLW*RNO[KSMO-2X M,>/N;^ZH+YRH#.?*[ZZ3()H:X?>U7TMCF)^WPMVO$9#SLT$'&&GODC3'`5W MF(RZZ<_\'@M(K>UF60RI'#VTC'FM\G,G^`G1"J]^%$GUI&"QFU8QM.=28N-& M7'CNAPFKDC"I_U24UB7"5\.+OM&079&>/AX=T'$@.K)[VWE,B[;IL4;;_U$^ M:^#'@=?XB.=G'ON,=W3@T0\Y<8!7X[*63/'>EIQCP-TJAB)]"D/1(2ZAS;@$ M@FESQTHL:,.*B`#%6<=E(;RPFZR/Q"SO<8H8[:#%$/SD*QFT]Q&Z1?,\80/[ MDKX5<\#7C8S>9A0CPQR#>F]P\A%^]E`3Y$.[8>9^5U/:7D-L,/?I#K*K@/\"ERO4"`S!5BJEM1@^:\Z5*9,/IC=+YCD-F M<^&OA(J7T;B+*6[S:X*9C4-F,^EY"SC-3F:;7Q/,81PRF^G,6\!I=MIJ?$TR M6W6IK.8N]T/3P3=F+F+R1W3G/P->N'[;>6BPX/88NV,'M[5@T(-9*<-PP[W* MHB,?:@RBL^.O9>]DZ;=B\;@6H`K.^X"Z`!EQ3HVO':,8/839+8$, MT3V]V<-LA8K'N]1*DC/;W#_IK1P('CO2R1T^P4L"VB.*4[;O2D6"ZD3`;'/# M9%N=2/$PHI-/*/L<)ZAXC^T2$\-,K\YNV=3(UX.4P>8^BA[V`+G=F.?9X?,C MC@AP:5'84KCU3E^/JZV:%=E?L_ZW5S`[L9W><#VW&9Y_;8DGG^R!K+T,9&#A M[N@NAT**DD9E-YT!.;CU:*FD84>;DC07[RXH@5@@NB!_%'@S'IU#RF@-(1[J MC6[7\YHCR!=#A\YG.&8GJ<^A2@E\EC'I@R]!8QEH43,;?3O%2U_T,J.`U"%- MR$97IQ1T1Y#&;J)%A9!N+7',W.T56MZCA*\,#IG-N$-7!4(IMUW/#J.$:1"$ M%#8_JJZ&LN>)90I1L-@,0'25`Y+>#47=T'5KC((S/XG#>)'*-"2BM1F?Z*I& M+J\;.FF\3L]>Y.9$KU)#@K/;/#S6-BI=5,Q=P;VM0LI&+%A((=,+D-7F:;.N M3K30<,.X/F$R5.*,X$&:7E37RF1ZDW/8/+S651=$=B-6T]UN82]Y4P]`9CF?/*)F'*6++>FG"-Y_2B8683!,R`8)HW'HA>BR]9ULVLP2U=-4/)-,32UF52#F? MU'0VTPAUIY$-X4R=EM.SXMLSX=EX]=X63>>(?A:OL\>+\&2= M0PY,5I`W834S$:HU?4QV%"B?L<=^-:/D#2:KI5=[QLA)DHD.-_R7$ZD^K9UC:N[3..!OC:ES@-]MY@#STH/^Z+4^Z=%OLBNZ M[:^NZ^P.E3O,GP%H.M8=+NM6^E$]/A07>"!\`Y8M(&N]XO2,OB^4%Z+2#'9_.&.C`AT13S58WI&FX:4+/BAXQF+1KVZ5>YO[%->\2V/ M?6S0R@4C]H@D%(MP6):%.X03`VW\:1SH@#*[Y3_).!(<.R138Z=R04 MU2"P)SA9D>44.Z&7(=NFLWF$M`6T/&&-8AM3]QW0%`@YMDTZFX="6V';%=;, M#FQ,ZXI?93_[RS#*1/Z@2V7S,*@7KB)!#:*J=+,<,IMG.EO@NBLW6WQ-[69Y M=#8/9;:`=F=NMOJHFR%[8[<+-/>@@%KT1>L_@JO2Z?$HJP.P&93&*S$*O]KX`4"K([T9E49M,H MJQRQ@!2*LCNQFE1F+L3@@GE]HT MT&KG+"2&0NU.5*>0VSS6*AES%&=[=/1#$]C#J2RJ8O9_:C.4]M7IOM"J_=]IG7[ MZC%SF]^G81#ZRPU3E$D\P^7_QQ!8MX"K2`8AQ M=)EM&G`85LT:78P4!PY"(&L4_T:TY: M/'NB8JE7K^\[J]>Z":]H8[#5ZT!UQ#=$5+S1+J0>SDK.\SA(;\A70A+MG$4O M])OS)&0O04P7"6(CC-\](*O%A:X*[H:A:.%@Q%_=H""?HT#6$;X>0(PV5[D: M:M``P8@2IODB3S/_VG^A^CX5O5O%(;.Y;M4`6"B@F:L;T:)NT16)S M@:@!)5J2V;PWH6?S?`'-S$_U._-LBCS&28*_H>#F MZE@P44GH;5Z`T)FQE"*;07J)\SB;%5^ZQ+Y@\<4ALWF)00=7D8!:T6#Y-_0? M]WZ*R"__#U!+`P04````"`#PAJE"*[.VIA`6``"[%@$`$``<`'AP;"TR,#$S M,#,S,2YX19:4I!LW:8\DVUEM[4C'3U\`_`>2 M`$G)SM'X2GG8E8$9<'XS``@,!L/W_]BL?.=X7P\F9PX__C[G_[HB'_O_]SI.)<$^]Z9<\[M"5U721T%GB=`Z8UF@X$XU MG5086"BC-%J9@7HA[X:/:]P51!U!A3EQ4[[?9E<94\!\$B).V(:+SKV23QF< M#N0SL(]7F(:7C*_.\0)%OM#0MPCY9$&P=^((IB4.9:<*ULC%S0VFG1-1RD0? M%N,S*9%EZS41G504_.&]M.899SZ^%>([\H<8E=;F97U7=/)(RCJDW@4-2?@H M>SQ?J8><.,3[<%)+(1\KA%`/]O""4**D$V.JYW2\UQ()I13%>B(&%,2"Q,+O+=R-^.)Q?%R)(4I,K>5?TCY,OA M-+_'.`QB?1>+[`KN"ZW*&0TG&AXS*A_AB1+/21IQXE:.VA5*F"$NH-WCD`B! M#:HNUMOU/FBO=^>G0J-_.50[9.H*IHOI6JY!Q`.3[FZIL^O_=9W^\]8TP#\H`G8@VYPE M!?>7/OMN,DM693?$VRT,(9IS5'N'JO=1%!"*@T"L;.9D2<7JS$5BG>.Z+!(+ M%+J<"2:7X/2]W);:;IV_RH60V$7X+(BXV%TY:9MJ5:2UZN3-.FF[AVJE:R)W MK?Z,,S&;AYDYJL5VO?]8XY>1""R75=$'*U)4\&OKG*KN%^6<-Y`X[6PJ%J^A(1KGR%L7;S/^T: M'90U*IEBA^.A:C'>']RB3?K:UPOLFGQ=UF2RSU!\AZK+^3T2&R_F>Y@'%]\B M$CX6]F)R"R;6MI^84!4-!8=XQ')"0RRTD+W-GM""W5IOJB^__#G_X\1/^K_2 MSE$^3"V;BX]STN<=K)7Q4LZ[-W@M%A!"(8GERJ5V:[RM6"/F=3+F@U5M=!?@ M;Y%`=/&0OS(V6W/GI_37P?JP MVIKB%MWYVYHOX;$;K[(;W@:[A<:%=O93.NO>QH_TNC*(&&KLM M*LZ<@E^R[*8\],%1<$=VBLY)%B*_8).VQ';C5%Q!97]FM42U?#14G>[O.<;7 MC(;W06MS55GL1C.X?QJ-)MMWX@<<;5=0O?GM4T]BMTW5[U,^(#B^=DQG!1W] MCQEZ5*&"YQ$>1LLH"`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`:1_0=/\\`Y1C]&DRTQ6:T2X_".5NZ9^"\E+BO?PW8_3>YXR])*SU9C) M./9(Z"I/QSK"8DC@0G*?M)?MPKJ['GYL!_R$0^5)#457N8O4!8U;ED]W(7._ M)K[0%/]6'%!AZTE'6^25+4^@.[-#&]D5E_IXDF,T50$=S]6C`4OWU)S[-5#; M^;E M5XZ"\64*JYD,ZHLFCXWY*);Y,8Z\+$?8@@ZH"<_Q`G.APVR]DUPK&F&*%R34 M(383`L6HW9K*5[=BJ:LM?!,P.=PM>8`BE[U11?_(.Z;9Q5VYO**)YM%['1''%48&GWL@,CM'U+ M:PA;8X:'-1$Q76>/T5KL1GSRN_Q.5[+JJZ,`VGMEZ+R:.!E7#L@TB6^ZX+/4 M`D4S"8)(/F:Z4`X0VQXI\R&U)H?Z^KSEB`9B/2=]'D)N9,D;90'V>)T M0C,W^_.U!U5E8MJ1QY0R)(51%&+E3;@06![E.\<&>#B;C*OJ>J:V@(ZF3RS$ M8E5U2:AX&$%^[F(KO\K:4$*;SZN!K;=X$XY\,1%D;ZM:DEV/FL*TC6?`4`Z] MJR"H(0`@?^X^^">A7.RV50J;JB%:T`%`8W&,6#"UI@:`3'Y4UHOD1N-B);;3 MCQBK%^;TN]AU!/=D/1/3T<5\.LOR,%?ZX1,:`(`_3YL56RW?7UN,NPT#*'RM M:A.UF5%OQP(`8TW>*C/";1@`X*LF;S+#:D$'`$TYT7<% M1AT!`/FKN6?,,%K0@4.3WW-H@ZF&&@`R+4W&>609,0TT`%#<7(^4R\(HOJT2 M@-R9RX@%82V&-H0`\-3>CAY'G/\;(VY&N!LK=,PS(.?*B&?XVI/#A)N&;:A(UB*8 M>N"[,,)405%XLV'!"B]/!M/#[=IQV$P']+C`-H.HPX&F:28E`HI-#HPIE;$6 M)N$GU/4C3X94R2,=,8X*03E;\@'50&$:F=)Z8,:YIP434.PWV/51$*B4^Y+W MEN4SI\0TH=I\U)88*-:/\GBE\F*0D9!Y;]70MB<'BK?01=OCWIX-*/Y/.#2* M+[NJ%LY<1P,4F5![8@>VJIVEVA`"Q9@2=9TX25>4C:IZTF`=I/\Q6O%54\"%%?F81>C=BGC]1$- M1HQS]AU[PZ7/JX4KZ6']'<4M"[>8N"?)(\EH*H.:QR]QOAM4'C(N% MXD^"?/_QG/B1O`<8"S^-0ME)Y&9(&V3Y6W=[OGVO?JL2?Y&9X6A8!THCV;/\ MY_@!^VRM+OB54ZT8J_8<@7P=_H)6Q`\9S5](V2&3N0[F$D(+I2HKWE@%+11\ MAMS[R$6:K%E_-]7`-,(GQEU$#1A,%3`A#%U&W7MBP&"L@0EB+)Z(QDS*Z3$# ME)IZH("PV!@/?X]\$QAS'4P@5T@L0%8X,`UT2QU,(,.0N*:N92B'">!7Q,G: MA,!4`1."BE$U(#"4`P9@N6INJ8,)Y",6D^F2N)<$^UZRQ\W=FI9*H)N-H;9!;WIF2S#9/5*B` MHDL]@KE]RK')A9I]N@RU"_A:QU&*EN$F^8*LB0RH*31IU0S@B38X+F"K)P&+ M:\VQ2]*K.=G^D7J&>:(M,5"LZ:!IQ-F&$"C&TD+B"Q?TY^P[+?34)B*@V-(X MD.E"_)_0I9HVDIL9Y5@1"PU09%I7[++&EDQ`L6L3R8A1+[NJ&U]!,?COS%1`T>G7(N5* M*SL7@TUX4]!X@MU[F8$DU4!-4R69-?3"UH-MO5-8UH81&J[@O)=:HP=.> M?)^=KRT:X#"&T3(2C1<3D/P:42POTF?37`,1S/%3)_7K-M!>OTAH;]I`>P,6 MVFKSF0;'O11`7TD1%>CG)?G;46+)@D%C8=['9I)^0WF,E0" MAJ)WKK+?KHX`Z`Z\IF.UZ'N@<15ZEM%4YGK(B+3.I=_)F2Y2T]RR!+PVB2KTPD M<306E%9BH%@+YSY)/&\IC*B>!"BN5%[YH3;7Y3AY18D)H^@1,7T+;$=>H)K( MSE]N6?Q"$[;+.J^Y[D5,I?)TS#*))E7[]!RGLYW\U!/V;IF0CG,#B)3R=Q@EW$/>XG0V74,8Q70$9MVCPO_L9C=PU2QYR-M MJ5@A3OZMVHFP/(_T".)Z$J`V2(X-DSOR`?.S"Q3&FOV.W,2KG(W0M*<712WY MH)NIX8[R1-0Q>Q#SO3=&OE_"V$0$M-?%`:(J)VDYX-)8!2W*TI3$[DI>%>AE MQ]=U%#`[G%7D?B.H5NE%8($:-(*">Z9M_!22'H5=1P`3DO8]!N.T8*^'-C=H M+H#BE&"J@&F,LJ1]&P2XX[XLZ<`&`>XHUR0M#&Y#.4P`6@Y?;?A>;&2.*C'4 MM.KBG9@=^("N;/)U-K_0WG19`5R9BR_CJ?99 MX?*7I*UO\`8FH-BK;^KX0F;C"[U,!A2?^K"3BBJ0=RJX)Q_YA83W5S@,,9\N MY*%9[JQO30T4;3SGQP=K[1!OQ;'G]T6<%>'ZEZNK<;X@TXN`6B46TI!/S%0! M&L.8\76:BZ((HE0#'`4-F$\\F36DC*)0`Q3%1*65,J8"*Y>#1F`8$:8*T!A, M(\)8`QQ%=408:X"B4$KN54>$H1PT`L.(,%6`QF`:$<8:X"BJ(\)8`Q3%C(N& M-A/J5@>%N0HZ#E.:>',=="2F`6*KA(^E.DQLE4"QQ-=KU9%1=:S8*N%CL27) M-M7"1V,:,_;JEX"G.F[LU4#QC-%:3V];'3UU!"\#D_%+$C44+P.5:335D[P4 M7-5154\"%->5^KRSJ\DZC]*/Y`ZQ'2EX MG'INV@:<=:1`<>;?RFKNLRUIP2,UQ5*:4%KI@"*4H>/R:[7U^!JI@**[C*@7 MW.!O$>'8D_=(1#LN)^IH=;CD&.LW-]H2PPRS4Y]@Q5X=B"QTL!4I3)A)OIT\ MB55V8\!0`1."4'4Q>5`B'!L+3(P,3,P,S,Q+GAM;%54!0`#0PV,475X"P`! M!"4.```$.0$``%!+`0(>`Q0````(`/"&J4(L^5U`$Q```('%```4`!@````` M``$```"D@0]A``!X<&PM,C`Q,S`S,S%?8V%L+GAM;%54!0`#0PV,475X"P`! M!"4.```$.0$``%!+`0(>`Q0````(`/"&J4).`Q0````(`/"&J4*FIUO]^T```!J)`P`4`!@````` M``$```"D@9A\``!X<&PM,C`Q,S`S,S%?;&%B+GAM;%54!0`#0PV,475X"P`! M!"4.```$.0$``%!+`0(>`Q0````(`/"&J4(2B6M_2"L``/K"`@`4`!@````` M``$```"D@>&]``!X<&PM,C`Q,S`S,S%?<')E+GAM;%54!0`#0PV,475X"P`! M!"4.```$.0$``%!+`0(>`Q0````(`/"&J4(KL[:F$!8``+L6`0`0`!@````` M``$```"D@7?I``!X<&PM,C`Q,S`S,S$N>'-D550%``-##8Q1=7@+``$$)0X` <``0Y`0``4$L%!@`````&``8`%`(``-'_```````` ` end XML 57 R26.htm IDEA: XBRL DOCUMENT v2.4.0.6

Segment Reporting (Tables)
3 Months Ended

Mar. 31, 2013

Notes to Financial Statements

Segment Reporting Three Months Ended March 31 2013

(in thousands) Three months ended March 31, 2013

Mt Hamilton Exploration Corporate and Other Consolidated

Exploration expense $ - $362 $ - $ 362

Interest expense (2) - - - -

Other (1) 7 351 443 801

Pre-tax loss $ 7 $713 $ 443 $1,163

Total assets (3)(4) $14,236 $1,395 $6,351 $21,982

Capital Expenditures (2) $ 515 $ - $ - $ 515

Segment Reporting Three Months Ended March 31 2012

(in thousands) Three months ended March 31, 2012

Mt Hamilton Exploration Corporate and Other Consolidated

Exploration expense $169 $355 $ - $524

Interest expense 53 - 15 68

Other (1)(3) 12 312 55 379

Pre-tax loss $234 $667 $70 $971

Total assets (2)(4) $9,277 $1,895 $9,295 $20,467

Capital Expenditures $ 355 $ - $ 9 $ 364

X

- Details

Name: XPL_NotesToFinancialStatementsAbstract

Namespace Prefix: XPL_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

No authoritative reference available.

+ References

No definition available.

+ Details

Name: XPL_SegmentReportingThreeMonthsEndedMarch312012TableTextBlock

Namespace Prefix: XPL_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

X

- Definition

No authoritative reference available.

+ References

No definition available.

+ Details

Name: XPL_SegmentReportingThreeMonthsEndedMarch312013TableTextBlock

Namespace Prefix: XPL_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

XML 58 R49.htm IDEA: XBRL DOCUMENT v2.4.0.6

Subsequent Events (Details Narrative) (USD $)

Jun. 01, 2013

May 07, 2013

May 01, 2013

Apr. 24, 2013

Apr. 22, 2013

Subsequent Events [Abstract]

Funds required by Ely subscription agreement $ 750,000

Reduced funds required by Ely subscription 500,000

Augusta payment due 750,000

Ely portion Augusta payment due 250,000

Subscription of Ely shares at Cdn$0.10 5,131,150

Cash paid to Ely 500,000

Ely shares received 5,131,150

Additional funds borrowed on RMB Loan 1,000,000

Amount owed on RMB Loan $ 3,500,000

X

- Details

Name: us-gaap_SubsequentEventsAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

No authoritative reference available.

+ References

No definition available.

+ Details

Name: XPL_AdditionalFundsBorrowedRMB

Namespace Prefix: XPL_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition

No authoritative reference available.

+ References

No definition available.

+ Details

Name: XPL_AmountOwedRMBLoan

Namespace Prefix: XPL_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition

No authoritative reference available.

+ References

No definition available.

+ Details

Name: XPL_AugustaPaymentDue

Namespace Prefix: XPL_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition

No authoritative reference available.

+ References

No definition available.

+ Details

Name: XPL_CashPaidToEly

Namespace Prefix: XPL_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition

No authoritative reference available.

+ References

No definition available.

+ Details

Name: XPL_ElyPortionAugustaPayment

Namespace Prefix: XPL_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition

No authoritative reference available.

+ References

No definition available.

+ Details

Name: XPL_ElySharesReceived

Namespace Prefix: XPL_

Data Type: xbrli:sharesItemType

Balance Type: na

Period Type: instant

X

- Definition

No authoritative reference available.

+ References

No definition available.

+ Details

Name: XPL_FundsRequiredElySubscriptionAgreement

Namespace Prefix: XPL_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition

No authoritative reference available.

+ References

No definition available.

+ Details

Name: XPL_ReducedFundsRequiredElySubscription

Namespace Prefix: XPL_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition

No authoritative reference available.

+ References

No definition available.

+ Details

Name: XPL_SubscriptionElyShares

Namespace Prefix: XPL_

Data Type: xbrli:sharesItemType

Balance Type: na

Period Type: instant

XML 59 R41.htm IDEA: XBRL DOCUMENT v2.4.0.6

Derivative Instruments (Details Narrative) (USD $)
3 Months Ended 12 Months Ended

Mar. 31, 2013

Dec. 31, 2010

Dec. 31, 2012

Aug. 10, 2012

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Warrants issued to RMBAH at exercise price of $1.5387 per warrant 1,624,748

Warrant liability recorded $ 1,039,000 $ 1,138,000

Gain recorded on warrant, price of $1.60 per share, interest rate 0.29% 99,000

Warrants to purchase Ely shares at Cdn$0.25 per share 1,666,666

Gain on Ely derivative instrument 66,000

Kinross options sold 50,000

Current liability recorded Kinross options 3,000

Gain on Kinross covered call options $ 3,000

X

- Details

Name: us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

No authoritative reference available.

+ References

No definition available.

+ Details

Name: XPL_CurrentLiabilityRecordedKinrossOptions

Namespace Prefix: XPL_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition

No authoritative reference available.

+ References

No definition available.

+ Details

Name: XPL_GainElyDerivativeInstrument

Namespace Prefix: XPL_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

No authoritative reference available.

+ References

No definition available.

+ Details

Name: XPL_GainKinrossCoveredCallOptions

Namespace Prefix: XPL_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

No authoritative reference available.

+ References

No definition available.

+ Details

Name: XPL_GainRecordedWarrant

Namespace Prefix: XPL_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

No authoritative reference available.

+ References

No definition available.

+ Details

Name: XPL_KinrossOptionssold

Namespace Prefix: XPL_

Data Type: xbrli:sharesItemType

Balance Type: na

Period Type: instant

X

- Definition

No authoritative reference available.

+ References

No definition available.

+ Details

Name: XPL_WarrantLiability

Namespace Prefix: XPL_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition

No authoritative reference available.

+ References

No definition available.

+ Details

Name: XPL_WarrantsElyShares

Namespace Prefix: XPL_

Data Type: xbrli:sharesItemType

Balance Type: na

Period Type: duration

X

- Definition

No authoritative reference available.

+ References

No definition available.

+ Details

Name: XPL_WarrantsIssuedToRMBAH

Namespace Prefix: XPL_

Data Type: xbrli:sharesItemType

Balance Type: na

Period Type: instant

XML 60 R5.htm IDEA: XBRL DOCUMENT v2.4.0.6

Consolidated Statements of Comprehensive Income (Loss) (USD $)
In Thousands, unless otherwise specified
3 Months Ended

Mar. 31, 2013

Mar. 31, 2012

Consolidated Statements Of Comprehensive Income Loss

Loss $ (994) $ (862)

Unrealized loss on marketable equity securities, net of deferred taxes (884) (889)

Comprehensive loss (1,878) (1,751)

Comprehensive loss attributable to Solitario shareholders (1,875) (1,559)

Comprehensive loss attributable to noncontrolling interests (3) (192)

Comprehensive loss $ (1,878) $ (1,751)

X

- Definition

The aggregate net change in the difference between the fair value and the carrying value, or in the comparative fair values, of marketable securities categorized as trading held at each balance sheet date, that was included in earnings for the period, which may have arisen from (a) securities classified as trading, (b) the unrealized holding gain (loss) on held-to-maturity securities transferred to the trading security category, and (c) the cumulative unrealized gain (loss) which was included in other comprehensive income (a separate component of shareholders' equity) on available-for-sale securities transferred to trading securities during the period.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 320

-SubTopic 10

-Section 50

-Paragraph 9

-Subparagraph (d)

-URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27357-111563

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 320

-SubTopic 10

-Section 50

-Paragraph 10

-Subparagraph (c)

-URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27405-111563

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 115

-Paragraph 13, 22

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Name: us-gaap_MarketableSecuritiesUnrealizedGainLoss

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 03

-Paragraph 19

-Article 5

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 944

-SubTopic 225

-Section S99

-Paragraph 1

-Subparagraph (SX 210.7-04.22)

-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Other Comprehensive Income

-URI http://asc.fasb.org/extlink&oid=6519514

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 225

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SX 210.5-03.18)

-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 130

-Paragraph 10, 15

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Paragraph 20

-Article 9

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Net Income

-URI http://asc.fasb.org/extlink&oid=6518256

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Emerging Issues Task Force (EITF)

-Number 87-21

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 10: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 28, 29, 30

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 11: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

Reference 12: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 944

-SubTopic 225

-Section S99

-Paragraph 1

-Subparagraph (SX 210.7-04.19)

-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 13: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 6

-URI http://asc.fasb.org/extlink&oid=20435746&loc=d3e565-108580

Reference 14: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph A7

-Appendix A

Reference 15: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 38

-Subparagraph a

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 16: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 38

-Subparagraph d

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Name: us-gaap_NetIncomeLoss

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

No authoritative reference available.

+ References

No definition available.

+ Details

Name: XPL_ComprehensiveLoss2CI

Namespace Prefix: XPL_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

No authoritative reference available.

+ References

No definition available.

+ Details

Name: XPL_ComprehensiveLossAttributableToNoncontrollingInterestsCI

Namespace Prefix: XPL_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

No authoritative reference available.

+ References

No definition available.

+ Details

Name: XPL_ComprehensiveLossAttributableToSolitarioShareholdersCI

Namespace Prefix: XPL_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

No authoritative reference available.

+ References

No definition available.

+ Details

Name: XPL_ComprehensiveLossCI

Namespace Prefix: XPL_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Details

Name: XPL_ConsolidatedStatementsOfComprehensiveIncomeLossAbstract

Namespace Prefix: XPL_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

XML 61 R10.htm IDEA: XBRL DOCUMENT v2.4.0.6

Short Term Debt
3 Months Ended

Mar. 31, 2013

Debt Disclosure [Abstract]

Short Term Debt

4. Short-term debt

 Solitario maintains a secured credit line agreement with UBS Bank, USA (“UBS Bank”). At March 31, 2013, the credit line is secured by all of Solitario’s assets held in its UBS brokerage account, consisting primarily of 460,000 Kinross shares. The UBS Bank credit line carries an interest rate which floats, based upon a base rate of 2.25% plus the one-month London Interbank Offered Rate ("LIBOR"), which is 0.20% as of March 31, 2013. The average interest rate was approximately 2.45% and 2.48%, respectively, for the three months ended March 31, 2013 and 2012. UBS Bank may change the base rate at any time. The UBS Bank credit line provides that Solitario may borrow up to $2 million and that Solitario maintain a minimum equity value percentage in its UBS brokerage account above 40%, based upon the value of its Kinross shares and any other assets held in Solitario's UBS brokerage account, less the value of its UBS Bank credit line and any other balances owed to UBS Bank. UBS Bank may modify the minimum equity value percentage of the loan at any time. In addition, if the equity value in Solitario's UBS brokerage account falls below the minimum equity value, UBS Bank may sell enough Kinross shares held in Solitario's UBS brokerage account or liquidate any other assets to restore the minimum equity value. At March 31, 2013, the equity value in Solitario's UBS brokerage account was 59%. At May 7, 2013, the balance outstanding in the UBS Bank credit line was $1,200,000, and the equity value in Solitario’s UBS brokerage account was 51%.

 Solitario also maintains a short-term margin account with RBC Capital Markets, LLC ("RBC"). At December 31, 2012, the credit line is secured by all of Solitario’s assets held in its RBC brokerage account, consisting primarily of 210,000 of Solitario’s Kinross shares. Solitario has utilized short-term margin loans from RBC, using Solitario's investment in Kinross held at RBC as collateral for the short-term margin loans. Solitario did not borrow against its short-term margin account during the three months ended March 31, 2013. The margin account calls for interest at a margin loan rate of 4.25% per annum, which floats based upon the London Interbank Offered Rate. The margin loan rate can be modified by RBC at any time. The margin loans are callable by RBC at any time. Per the terms of the margin loans, Solitario is required to maintain a minimum equity value in the account of 35%, based upon the value of its Kinross shares and any other assets held at RBC, less any short-term margin loan balance and any other balances owed to RBC. The equity value percentage may be modified by RBC at any time. If the equity value in Solitario's account at RBC falls below the minimum, RBC may call the loan, or may sell enough Kinross shares held in Solitario's brokerage account or liquidate any other assets to restore the minimum equity value. At March 31, 2013, Solitario had no outstanding borrowing on the RBC margin account and the equity balance in Solitario's account at RBC was 100%.

The following tables summarize Solitario’s short-term debt:

 (in thousands)

 UBS short-term credit line

 Beginning balance December 31, 2012 $ 1,500

 Borrowing 900

 Repayments (900)

 Ending balance March 31, 2013 $1,500

(in thousands)
Three months ended

March 31,

2013 2012

Interest UBS short-term credit line $ 8 $13

Interest RBC short-term margin loan - 4

 Total interest, short-term margin loans $ 8 $17

During the three months ended March 31, 2013, Solitario capitalized all of its interest to mineral property. See Note 2, “Mineral property,” above.

X

- Details

Name: us-gaap_DebtDisclosureAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

The entire disclosure for short-term debt.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 942

-SubTopic 210

-Section S99

-Paragraph 1

-Subparagraph (SX 210.9-03.13)

-URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 03

-Paragraph 13

-Article 9

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 19

-Article 5

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.19)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 03

-Paragraph 16

-Article 7

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 944

-SubTopic 210

-Section S99

-Paragraph 1

-Subparagraph (SX 210.7-03.16)

-URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910

+ Details

Name: us-gaap_ShortTermDebtTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

XML 62 R27.htm IDEA: XBRL DOCUMENT v2.4.0.6

Business and Significant Accounting Policies - Marketable Securities and Other Comprehensive Income (Details) (USD $)

Mar. 31, 2013

Dec. 31, 2012

Accounting Policies [Abstract]

Marketable equity securities at fair value $ 5,683 $ 7,093

Cost 851 851

Accumulated other comprehensive income for unrealized holding gains 4,832 6,242

Deferred taxes on accumulated other comprehensive income for unrealized holding gains 1,802 2,328

Accumulated other comprehensive income $ 3,030 $ 3,914

X

- Details

Name: us-gaap_AccountingPoliciesAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

No authoritative reference available.

+ References

No definition available.

+ Details

Name: XPL_AccumulatedOCI

Namespace Prefix: XPL_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition

No authoritative reference available.

+ References

No definition available.

+ Details

Name: XPL_AccumulatedOCIForUnrealizedHoldingGains

Namespace Prefix: XPL_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition

No authoritative reference available.

+ References

No definition available.

+ Details

Name: XPL_CostMarketableSecurities

Namespace Prefix: XPL_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition

No authoritative reference available.

+ References

No definition available.

+ Details

Name: XPL_DeferredTaxesAccumulatedOCIUnrealizedHoldingGains

Namespace Prefix: XPL_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition

No authoritative reference available.

+ References

No definition available.

+ Details

Name: XPL_MarketableSecuritiesFairValue

Namespace Prefix: XPL_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

XML 63 FilingSummary.xml IDEA: XBRL DOCUMENT 2.4.0.6 Html 23 301 1 false 6 0 false 4 false false R1.htm 0001 - Document - Document and Entity Information Sheet http://solitarioxr.com/role/DocumentAndEntityInformation Document and Entity Information true false R2.htm 0002 - Statement - Consolidated Balance Sheets Sheet http://solitarioxr.com/role/BalanceSheets Consolidated Balance Sheets false false R3.htm 0003 - Statement - Consolidated Balance Sheets (Parenthetical) Sheet http://solitarioxr.com/role/BalanceSheetsParenthetical Consolidated Balance Sheets (Parenthetical) false false R4.htm 0004 - Statement - Consolidated Statements of Operations Sheet http://solitarioxr.com/role/StatementsOfOperations Consolidated Statements of Operations false false R5.htm 0005 - Statement - Consolidated Statements of Comprehensive Income (Loss) Sheet http://solitarioxr.com/role/StatementsOfComprehensiveIncomeLoss Consolidated Statements of Comprehensive Income (Loss) false false R6.htm 0006 - Statement - Consolidated Statements of Cash Flows Sheet http://solitarioxr.com/role/StatementsOfCashFlows Consolidated Statements of Cash Flows false false R7.htm 0007 - Disclosure - Business and Significant Accounting Policies Sheet http://solitarioxr.com/role/BusinessAndSignificantAccountingPolicies Business and Significant Accounting Policies false false R8.htm 0008 - Disclosure - Mineral Properties Sheet http://solitarioxr.com/role/MineralProperties Mineral Properties false false R9.htm 0009 - Disclosure - Other Assets Sheet http://solitarioxr.com/role/OtherAssets Other Assets false false R10.htm 0010 - Disclosure - Short Term Debt Sheet http://solitarioxr.com/role/ShortTermDebt Short Term Debt false false R11.htm 0011 - Disclosure - Long Term Debt Sheet http://solitarioxr.com/role/LongTermDebt Long Term Debt false false R12.htm 0012 - Disclosure - Derivative Instruments Sheet http://solitarioxr.com/role/DerivativeInstruments Derivative Instruments false false R13.htm 0013 - Disclosure - Fair Value Sheet http://solitarioxr.com/role/FairValue Fair Value false false R14.htm 0014 - Disclosure - Income Taxes Sheet http://solitarioxr.com/role/IncomeTaxes Income Taxes false false R15.htm 0015 - Disclosure - Shareholders' Equity, Comprehensive Loss and Noncontrolling Interest Sheet http://solitarioxr.com/role/ShareholdersEquityComprehensiveLossAndNoncontrollingInterest Shareholders' Equity, Comprehensive Loss and Noncontrolling Interest false false R16.htm 0016 - Disclosure - Segment Reporting Sheet http://solitarioxr.com/role/SegmentReporting Segment Reporting false false R17.htm 0017 - Disclosure - Subsequent Events Sheet http://solitarioxr.com/role/SubsequentEvents Subsequent Events false false R18.htm 0018 - Disclosure - Business and Significant Accounting Policies (Policies) Sheet http://solitarioxr.com/role/BusinessAndSignificantAccountingPoliciesPolicies Business and Significant Accounting Policies (Policies) false false R19.htm 0019 - Disclosure - Business and Significant Accounting Policies (Tables) Sheet http://solitarioxr.com/role/BusinessAndSignificantAccountingPoliciesTables Business and Significant Accounting Policies (Tables) false false R20.htm 0020 - Disclosure - Mineral Properties (Tables) Sheet http://solitarioxr.com/role/MineralPropertiesTables Mineral Properties (Tables) false false R21.htm 0021 - Disclosure - Other Assets (Tables) Sheet http://solitarioxr.com/role/OtherAssetsTables Other Assets (Tables) false false R22.htm 0022 - Disclosure - Short Term Debt (Tables) Sheet http://solitarioxr.com/role/ShortTermDebtTables Short Term Debt (Tables) false false R23.htm 0023 - Disclosure - Long Term Debt (Tables) Sheet http://solitarioxr.com/role/LongTermDebtTables Long Term Debt (Tables) false false R24.htm 0024 - Disclosure - Fair Value (Tables) Sheet http://solitarioxr.com/role/FairValueTables Fair Value (Tables) false false R25.htm 0025 - Disclosure - Shareholders' Equity, Comprehensive Loss and Noncontrolling Interest (Tables) Sheet http://solitarioxr.com/role/ShareholdersEquityComprehensiveLossAndNoncontrollingInterestTables Shareholders' Equity, Comprehensive Loss and Noncontrolling Interest (Tables) false false R26.htm 0026 - Disclosure - Segment Reporting (Tables) Sheet http://solitarioxr.com/role/SegmentReportingTables Segment Reporting (Tables) false false R27.htm 0027 - Disclosure - Business and Significant Accounting Policies - Marketable Securities and Other Comprehensive Income (Details) Sheet http://solitarioxr.com/role/BusinessAndSignificantAccountingPolicies-MarketableSecuritiesAndOtherComprehensiveIncomeDetails Business and Significant Accounting Policies - Marketable Securities and Other Comprehensive Income (Details) false false R28.htm 0028 - Disclosure - Business and Significant Accounting Policies - Changes in Marketable Securities (Details) Sheet http://solitarioxr.com/role/BusinessAndSignificantAccountingPolicies-ChangesInMarketableSecuritiesDetails Business and Significant Accounting Policies - Changes in Marketable Securities (Details) false false R29.htm 0029 - Disclosure - Business and Significant Accounting Policies (Details Narrative) Sheet http://solitarioxr.com/role/BusinessAndSignificantAccountingPoliciesDetailsNarrative Business and Significant Accounting Policies (Details Narrative) false false R30.htm 0030 - Disclosure - Mineral Properties - Mineral Investment Mineral Properties (Details) Sheet http://solitarioxr.com/role/MineralProperties-MineralInvestmentMineralPropertiesDetails Mineral Properties - Mineral Investment Mineral Properties (Details) false false R31.htm 0031 - Disclosure - Mineral Properties - Mineral Exploration Expense (Details) Sheet http://solitarioxr.com/role/MineralProperties-MineralExplorationExpenseDetails Mineral Properties - Mineral Exploration Expense (Details) false false R32.htm 0032 - Disclosure - Mineral Properties (Details Narrative) Sheet http://solitarioxr.com/role/MineralPropertiesDetailsNarrative Mineral Properties (Details Narrative) false false R33.htm 0033 - Disclosure - Other Assets - Other Assets (Details) Sheet http://solitarioxr.com/role/OtherAssets-OtherAssetsDetails Other Assets - Other Assets (Details) false false R34.htm 0034 - Disclosure - Short Term Debt - Short Term Debt Total (Details) Sheet http://solitarioxr.com/role/ShortTermDebt-ShortTermDebtTotalDetails Short Term Debt - Short Term Debt Total (Details) false false R35.htm 0035 - Disclosure - Short Term Debt - Short Term Debt Three Months (Details) Sheet http://solitarioxr.com/role/ShortTermDebt-ShortTermDebtThreeMonthsDetails Short Term Debt - Short Term Debt Three Months (Details) false false R36.htm 0036 - Disclosure - Short Term Debt (Details Narrative) Sheet http://solitarioxr.com/role/ShortTermDebtDetailsNarrative Short Term Debt (Details Narrative) false false R37.htm 0037 - Disclosure - Long Term Debt - Long Term Debt Payments Due August (Details) Sheet http://solitarioxr.com/role/LongTermDebt-LongTermDebtPaymentsDueAugustDetails Long Term Debt - Long Term Debt Payments Due August (Details) false false R38.htm 0038 - Disclosure - Long Term Debt - Long Term Debt RMB Loan (Details) Sheet http://solitarioxr.com/role/LongTermDebt-LongTermDebtRmbLoanDetails Long Term Debt - Long Term Debt RMB Loan (Details) false false R39.htm 0039 - Disclosure - Long Term Debt - Long Term Debt Interest RMB Loan (Details) Sheet http://solitarioxr.com/role/LongTermDebt-LongTermDebtInterestRmbLoanDetails Long Term Debt - Long Term Debt Interest RMB Loan (Details) false false R40.htm 0040 - Disclosure - Long Term Debt (Details Narrative) Sheet http://solitarioxr.com/role/LongTermDebtDetailsNarrative Long Term Debt (Details Narrative) false false R41.htm 0041 - Disclosure - Derivative Instruments (Details Narrative) Sheet http://solitarioxr.com/role/DerivativeInstrumentsDetailsNarrative Derivative Instruments (Details Narrative) false false R42.htm 0042 - Disclosure - Fair Value - Fair Value Assets and Liabilities at March 31 2013 (Details) Sheet http://solitarioxr.com/role/FairValue-FairValueAssetsAndLiabilitiesAtMarch312013Details Fair Value - Fair Value Assets and Liabilities at March 31 2013 (Details) false false R43.htm 0043 - Disclosure - Income Taxes (Details Narrative) Sheet http://solitarioxr.com/role/IncomeTaxesDetailsNarrative Income Taxes (Details Narrative) false false R44.htm 0044 - Statement - Shareholders' Equity (Details) Sheet http://solitarioxr.com/role/ShareholdersEquityDetails Shareholders' Equity (Details) false false R45.htm 0045 - Disclosure - Shareholders' Equity, Comprehensive Loss and Noncontrolling Interest (Details Narrative) Sheet http://solitarioxr.com/role/ShareholdersEquityComprehensiveLossAndNoncontrollingInterestDetailsNarrative Shareholders' Equity, Comprehensive Loss and Noncontrolling Interest (Details Narrative) false false R46.htm 0046 - Disclosure - Segment Reporting - Segment Reporting Three Months Ended March 31 2013 (Details) Sheet http://solitarioxr.com/role/SegmentReporting-SegmentReportingThreeMonthsEndedMarch312013Details Segment Reporting - Segment Reporting Three Months Ended March 31 2013 (Details) false false R47.htm 0047 - Disclosure - Segment Reporting - Segment Reporting Three Months Ended March 31 2012 (Details) Sheet http://solitarioxr.com/role/SegmentReporting-SegmentReportingThreeMonthsEndedMarch312012Details Segment Reporting - Segment Reporting Three Months Ended March 31 2012 (Details) false false R48.htm 0048 - Disclosure - Segment Reporting (Details Narrative) Sheet http://solitarioxr.com/role/SegmentReportingDetailsNarrative Segment Reporting (Details Narrative) false false R49.htm 0049 - Disclosure - Subsequent Events (Details Narrative) Sheet http://solitarioxr.com/role/SubsequentEventsDetailsNarrative Subsequent Events (Details Narrative) false false All Reports Book All Reports Process Flow-Through: 0002 - Statement - Consolidated Balance Sheets Process Flow-Through: Removing column 'Mar. 31, 2012' Process Flow-Through: Removing column 'Dec. 31, 2011' Process Flow-Through: 0003 - Statement - Consolidated Balance Sheets (Parenthetical) Process Flow-Through: 0004 - Statement - Consolidated Statements of Operations Process Flow-Through: 0005 - Statement - Consolidated Statements of Comprehensive Income (Loss) Process Flow-Through: 0006 - Statement - Consolidated Statements of Cash Flows xpl-20130331.xml xpl-20130331.xsd xpl-20130331_cal.xml xpl-20130331_def.xml xpl-20130331_lab.xml xpl-20130331_pre.xml true true XML 64 R38.htm IDEA: XBRL DOCUMENT v2.4.0.6

Long Term Debt - Long Term Debt RMB Loan (Details) (USD $)
3 Months Ended

Mar. 31, 2013

Dec. 31, 2012

Debt Disclosure [Abstract]

RMB Loan borrowing Beginning Balance $ 1,500,000

RMB Warrant discount Beginning Balance (573,000)

RMB Long-term Debt Beginning Balance 927,000

RMB Loan borrowing Borrowing 1,000,000

RMB Warrant discount Borrowing

RMB Long-term Debt Borrowing 1,000,000

RMB Loan borrowing Amortization of discount to interest cost

RMB Warrant discount Amortization of discount to interest cost 54,000

RMB Long-term Debt Amortization of discount to interest cost 54,000

RMB Loan borrowing Ending Balance 2,500,000

RMB Warrant discount Ending Balance (519,000)

RMB Long-term Debt Ending Balance $ 1,981,000

X

- Details

Name: us-gaap_DebtDisclosureAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

No authoritative reference available.

+ References

No definition available.

+ Details

Name: XPL_RMBLoanBorrowingAmortizationOfDiscountToInterest

Namespace Prefix: XPL_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

No authoritative reference available.

+ References

No definition available.

+ Details

Name: XPL_RMBLoanBorrowingBegBal

Namespace Prefix: XPL_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition

No authoritative reference available.

+ References

No definition available.

+ Details

Name: XPL_RMBLoanBorrowingBorrowing

Namespace Prefix: XPL_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

No authoritative reference available.

+ References

No definition available.

+ Details

Name: XPL_RMBLoanBorrowingEndBal

Namespace Prefix: XPL_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition

No authoritative reference available.

+ References

No definition available.

+ Details

Name: XPL_RMBLongTermDebtAmortizationOfDiscountToInterest

Namespace Prefix: XPL_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

No authoritative reference available.

+ References

No definition available.

+ Details

Name: XPL_RMBLongTermDebtBegBal

Namespace Prefix: XPL_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition

No authoritative reference available.

+ References

No definition available.

+ Details

Name: XPL_RMBLongTermDebtBorrowing

Namespace Prefix: XPL_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

No authoritative reference available.

+ References

No definition available.

+ Details

Name: XPL_RMBLongTermDebtEndBal

Namespace Prefix: XPL_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition

No authoritative reference available.

+ References

No definition available.

+ Details

Name: XPL_RMBWarrantDiscountAmortizationOfDiscountToInterest

Namespace Prefix: XPL_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

No authoritative reference available.

+ References

No definition available.

+ Details

Name: XPL_RMBWarrantDiscountBorrowing

Namespace Prefix: XPL_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

No authoritative reference available.

+ References

No definition available.

+ Details

Name: XPL_RMBWarrantDiscountBorrowingBegBal

Namespace Prefix: XPL_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition

No authoritative reference available.

+ References

No definition available.

+ Details

Name: XPL_RMBWarrantDiscountEndBal

Namespace Prefix: XPL_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

XML 65 R20.htm IDEA: XBRL DOCUMENT v2.4.0.6

Mineral Properties (Tables)
3 Months Ended

Mar. 31, 2013

Extractive Industries [Abstract]

Mineral Investment Mineral Properties

(in thousands) March 31, December 31,

2013 2012

Development (United States)

 Mt. Hamilton $9,790 $9,275

Exploration

 Pachuca (Mexico) 20 20

 Norcan (Mexico) 6 6

 Aconchi (Mexico) 5 5

 Canta Colorado (Mexico) 3 3

 Cerro Azul (Peru) 3 3

 La Promesa (Peru) 5 5

 Atico (Peru) - 5

 Jaripo (Mexico) - 5

 Total exploration 42 52

 Total mineral property $9,832 $9,327

Mineral Exploration Expense

(in thousands) Three months ended
March 31,

2013 2012

Geologic and field expenses $246 $237

Administrative 116 118

Mt. Hamilton exploration and development - 169

Total exploration costs $ 362 $ 524

X

- Details

Name: us-gaap_ExtractiveIndustriesAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

No authoritative reference available.

+ References

No definition available.

+ Details

Name: XPL_ExplorationExpenseTableTextBlock

Namespace Prefix: XPL_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

X

- Definition

No authoritative reference available.

+ References

No definition available.

+ Details

Name: XPL_InvestmentMineralPropertiesTableTextBlock

Namespace Prefix: XPL_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

Subsequent Events (Details Narrative) (USD $)	Jun. 01, 2013	May 07, 2013	May 01, 2013	Apr. 24, 2013	Apr. 22, 2013
Subsequent Events [Abstract]
Funds required by Ely subscription agreement			$ 750,000
Reduced funds required by Ely subscription			500,000
Augusta payment due	750,000
Ely portion Augusta payment due	250,000
Subscription of Ely shares at Cdn$0.10					5,131,150
Cash paid to Ely					500,000
Ely shares received					5,131,150
Additional funds borrowed on RMB Loan				1,000,000
Amount owed on RMB Loan		$ 3,500,000

Derivative Instruments (Details Narrative) (USD $)	3 Months Ended	12 Months Ended
Derivative Instruments (Details Narrative) (USD $)	Mar. 31, 2013	Dec. 31, 2010	Dec. 31, 2012	Aug. 10, 2012
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Warrants issued to RMBAH at exercise price of $1.5387 per warrant				1,624,748
Warrant liability recorded	$ 1,039,000		$ 1,138,000
Gain recorded on warrant, price of $1.60 per share, interest rate 0.29%	99,000
Warrants to purchase Ely shares at Cdn$0.25 per share		1,666,666
Gain on Ely derivative instrument	66,000
Kinross options sold			50,000
Current liability recorded Kinross options			3,000
Gain on Kinross covered call options	$ 3,000

Consolidated Statements of Comprehensive Income (Loss) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2013	Mar. 31, 2012
Consolidated Statements Of Comprehensive Income Loss
Loss	$ (994)	$ (862)
Unrealized loss on marketable equity securities, net of deferred taxes	(884)	(889)
Comprehensive loss	(1,878)	(1,751)
Comprehensive loss attributable to Solitario shareholders	(1,875)	(1,559)
Comprehensive loss attributable to noncontrolling interests	(3)	(192)
Comprehensive loss	$ (1,878)	$ (1,751)

Business and Significant Accounting Policies - Marketable Securities and Other Comprehensive Income (Details) (USD $)	Mar. 31, 2013	Dec. 31, 2012
Accounting Policies [Abstract]
Marketable equity securities at fair value	$ 5,683	$ 7,093
Cost	851	851
Accumulated other comprehensive income for unrealized holding gains	4,832	6,242
Deferred taxes on accumulated other comprehensive income for unrealized holding gains	1,802	2,328
Accumulated other comprehensive income	$ 3,030	$ 3,914