Each one in plain English, with the numbers worked through for a shareholder.
8 Feb 2010financial restatement▼ BadMajor
Solitario disclosed a second restatement, this time correcting how it had accounted for years of earn-in payments from Anglo Platinum on the Pedra Branca project, reclassifying them as a deferred liability rather than equity or expense credits.
Sprott Asset Management LP, Sprott Gold and Precious Minerals Fund reported a SOLITARIO RESOURCES CORP. shareholding of 4,436,740 shares (14.90% of votes) in a periodic institutional filing.
Metallic Ventures Gold walked away from Solitario's bid after accepting a superior offer from a rival bidder, but Solitario collected the $2.2 million break fee it had negotiated.
Solitario raised its bid for Metallic Ventures Gold to $18 million cash plus 19.5 million shares and extended the deal deadline, as a bidding contest for the target intensified.
Solitario agreed to acquire Metallic Ventures Gold for about $15.5 million in cash and 17 million shares, its first attempt at a major corporate acquisition.
Sprott Asset Management Inc reported a SOLITARIO RESOURCES CORP. shareholding of 4,480,300 shares (15.10% of votes) in a periodic institutional filing.
Solitario said it would restate financial statements back to 2006 after discovering its Canadian-dollar-denominated employee stock options should have been booked as liabilities rather than equity - a non-cash accounting error with no effect on cash, assets or reported fraud.
8 Dec 2008material agreement termination▼ BadMajor
Newmont walked away from its option on Solitario's Pachuca Real silver-gold project in Mexico, leaving Solitario with full ownership; separately, new drilling at the Pedra Branca project in Brazil expanded the high-grade Curiu deposit as Anglo Platinum's stake there grew toward 30%.
Newmont Mining Corporation, Newmont Mining Corporation of Canada Limited disclosed a new substantial SOLITARIO RESOURCES CORP. shareholding (9.10% of votes).
Solitario and Votorantim Metais formed a second Peruvian joint venture, on the regional Chambara zinc project, with Votorantim able to earn up to 70% by funding exploration and a feasibility study - expanding their partnership beyond the existing Bongara project.
Solitario hedged two-thirds of its Kinross Gold shareholding - its largest balance-sheet asset - through a zero-cost collar with UBS, locking in a floor price while capping the upside.
Anglo Platinum completed its initial $2.25 million earn-in for a 15% stake in Solitario's Pedra Branca platinum-palladium project in Brazil, with rights to earn up to 65%; the same day, Votorantim Metais made a $100,000 payment on its option over Solitario's Bongara zinc project in Peru, where it can earn up to 70%.
Solitario adopted change-in-control severance agreements for its CEO, CFO and VP, each entitled to a lump sum of 2.5 times salary if the company changes hands.