Solitario announced on April 27, 2018 the sale, through its wholly owned subsidiary Minera Solitario Perú S.A.C., of its nonproducing Yanacocha royalty to Minera Los Tapados S.A., a wholly owned subsidiary of Newmont Mining, for approximately US$501,500 in cash. The Yanacocha royalty covered 43 concessions totaling 36,052 hectares, none of the concessions covered by the Yanacocha Royalty had any reported reserves or resources. For more information see news release dated April 27, 2018
Pedra Blanca, Mexico and Montana Royalties
In January 2019 Solitario sold two royalties and an option to purchase a third royalty to SilverStream SEZC (“SilverStream”), a private Cayman Island royalty and streaming company. Solitario received CDN $250,000 in cash (US$184,625) and CDN $350,000 (US$262,500) in a one-year 5% convertible note as payment for the royalties and option. The note is convertible into SilverStream stock should SilverStream complete an IPO before the end of the one-year term. The royalties cover the 125,000-acre polymetallic Pedra Branca palladium, platinum, gold, nickel, cobalt and chrome project in Brazil and Solitario’s 3,880-acre Mexico royalty portfolio. The purchase option covers Solitario’s 16,500-acre Montana royalty portfolio.