Solitario Resources (XPL) risk factors, FY2025 10-K

Risks Related to Our Business and Industry

1. 01Our business is dependent on the market price of certain commodities, particularly gold and zinc, and currency exchange rates over which we have no control
2. 02Mineral exploration activities are inherently dangerous and could cause us to incur significant unexpected costs, including legal liability for loss of life, damage to property and environmental damage, any of which could materially adversely affect our financial position or results of operations
3. 03Our operations outside of the United States of America may be adversely affected by factors outside of our control, such as changing political, local and economic conditions, any of which could materially adversely affect our financial position or results of operations
4. 04other risks arising out of foreign sovereignty over the areas in which our exploration activities are conducted
5. 05We may not have sufficient funding for exploration and development, which may impair our results of operations and growth potential
6. 06The title to our mineral properties may be defective or challenged which could have a material adverse effect on our financial position or results of operations
7. 07Occurrence of events for which we are not insured or have limited insurance coverage may materially adversely affect our business
8. 08Normal weather variations as well as severe or violent storms could materially affect our operations due to damage or delays caused by such weather
9. 09Our operations could be negatively affected by existing laws as well as potential changes in laws and regulatory requirements to which we are subject, including regulation of mineral exploration and ownership, environmental regulations and taxation
10. 10Our operations are subject to permitting requirements which could require us to delay, suspend or terminate our exploration operations on our properties
11. 11Our business could be negatively affected by changing climate and climate change laws
12. 12Our business is dependent on key executives and the loss of any of our key executives could adversely affect our business, future operations and financial condition
13. 13We may look to joint venture with another mining company in the future to explore, develop and/or operate our current or future projects; therefore, in the future, our results may become subject to additional risks associated with development and production of our foreign mining projects
14. 14Failure to comply with the FCPA could subject us to penalties and other adverse consequences

Risks Related to Our Common Stock

1. 15The market for shares of our common stock has limited liquidity and the market price of our common stock has fluctuated and may decline
2. 16We have a history of losses and if we do not operate profitably in the future it could have a material adverse effect on our financial position or results of operations and the trading price of our common stock would likely decline
3. 17We have never paid, and do not intend to pay cash dividends in the foreseeable future and, consequently, the ability to achieve a return on any investment in our common stock will depend on appreciation in the price of our common stock
4. 18Issuances of our stock in the future could dilute existing shareholders and adversely affect the market price of our common stock46% rewritten
5. 19Increased costs could impede our ability to explore sell or develop our current projects
6. 20We are dependent upon information technology systems, which are subject to cybersecurity risks, disruption, damage, failure and risks associated with implementation and integration