Specifically, Solid has varying interests in three past-producing Spanish base metals properties that are also geologically highly prospective for such rare 21st century industrial metals as tantalum, lithium, rubidium and cesium. The company's most recently optioned Spanish property also offers the prospect of a platinum group metals discovery in an era when platinum is trading at 23-year highs and at double the price of gold. Very substantial amounts of nickelite are also present at the property, which is a high-grade nickel ore mineral.

On the domestic front, Solid is developing a significant, advanced-stage massive sulphide gold-silver-copper-zinc-lead discovery in Canada's Northwest Territories. Solid has a 49% interest (with the option to acquire the remaining 51%) in the 9,500-acre Bear Property, which hosts an emerging polymetallic deposit, as well as a nearby gold deposit. Located only about 110 kilometres (67 miles) from Yellowknife -- the Northwest Territories' only major urban center -- the Bear Property benefits from the availability of robust regional infrastructure. This includes a nearby all-weather road and an ample supply of water.

To date, a total of Cdn. $8 million (US $6 million) has already been spent on developing the polymetallic massive sulphide deposit, which includes the drilling of over 65 holes. Accordingly, an initial resource base of 10.7 million ounces of silver, 57,682 tons of zinc, 612 tons of copper and 25,090 tons of lead has been outlined at the eastern flank of the property's expansive mineralized horizon. These mineral resources are in the "indicated and inferred category" and are not yet compliant with the relatively new National Policy 43-101 guidelines (a federal-government recognized standard of a "measured resource").

Meanwhile, a recently initiated re-evaluation of an extensive inventory of core samples suggests that many high-grade gold intersections were completely overlooked during this previous drilling. Or in other words, the presence of visible gold in core samples could indicate the existence of previously undetected high-grade gold complex. Moreover, the mineralization within the existing resource base has been traced to a depth of at least 396 metres (1,300 feet) and remains open (continuous) at depth and to the north. Thus, the likelihood of expanding the size and scope of this massive sulphide deposit, along with the prospect of revealing a previously undetected stand-alone gold deposit, are dynamics that offer to dramatically improve the property's overall economic potential.

Additionally, a drill-inferred resource of nearly 23,000 ounces of gold was also outlined in another largely unexplored mineralized structure about two kilometers to the west of the massive sulphide deposit. This mineralization is exposed at surface and includes a number of highly prospective geophysical anomalies that are likely the surface expression of an extensive epithermal vein complex. Also, previous drilling has indicated that these gold veins can be traced to a depth of at least 250 metres (820 feet). Solid is expected to drill these half dozen anomalies during the coming months with a view to better outlining the parameters of this emerging deposit, while also expanding its known resource base.

Solid's story gets particularly interesting when we look at the company's Spanish projects. Indeed, one of the reasons why Solid is something of a "standout" among junior mineral exploration companies (as is suggested by its buoyant share price) is that the company has shrewdly diversified into the development of "rare earth metals" deposits. Unlike most other junior mining companies, Solid's fortunes are therefore not dependent on the vagaries of gold bullion prices.

In fact, Solid's prospects for putting one or more of its Spanish projects into production are greatly enhanced by the burgeoning demand for rare earth metals. For instance, the need in the 21st century for tantalum is so great that any sizeable new discoveries are now welcomed with open arms by a tantalum-dependent global high tech industry. Moreover, in the case of Solid's Spanish properties, these rare earth metals can be extracted with an exceptionally low stripping ratio and at a fraction of the cost of mining most precious or base metals deposits. And tantalum and other associated rare earth metals can be inexpensively processed and separated into various market-ready concentrates. These are all very compelling reasons why SmallCapMedia believes that each of these European properties offer Solid shareholders "home run" potential.

The most advanced of these Spanish projects is the 15,744-acre Doade-Presqueira Property which is located near the city of Orense in northern Spain. It encompasses a mineralized belt which runs 15 kilometers (9.3 miles) over the length of the property and measures at least 300 metres (980 feet) in width. It also includes approximately 15 old shallow tin mine workings, most of which are exposed at surface. Collectively, they still host approximately 3.5 million tons of tin ore, according to statistics compiled by the Spanish government in the 1980s.

Prior to the advent of cellular phones and similar miniaturized electronics, the property was only subjected to small-scale mining by local operators who saw little use for the rare earth metals that are a by-product of mining for tin. However, grades averaging up to 200 g/tonne of tantalum have recently been encountered at the northern end of the property, where most of the mining operations were located. Yet, surface samples taken on the southern portion of the property have returned even higher values for tantalum and for other rare earth metals like cesium and rubidium. All told, up to nine small but highly prospective deposits still exist on this property, all of which are expected to be systematically explored by Solid during 2004. The first stage of this upcoming work program will involve a 10-hole drill program that is scheduled to commence in August, 2004.

This latest round of drilling follows on the heels of an encouraging ten-hole drill program in 2003 that also revealed that significant quantities of tantalum, lithium, cesium, rubidium and niobium are all present on this sprawling property. Since the mineralized zones are well-exposed at surface at virtually all of the mine sites, the prospect of a low-cost open pit mining operation further improves the project's overall economic potential. The logistical picture gets even better considering the fact that the property is situated only 30 kilometres (18.6 miles) from the port city of Pontevedra. This would make for low shipping costs when transporting the concentrates to international marketplaces.

Now might be an appropriate juncture to point out some of the indispensable modern-day uses for rare earth metals. During the last 30 years, the demand for tantalum has skyrocketed with the evolution of miniaturized electronics. Due to its unique electrical properties, tantalum is used primarily in the design of tiny capacitors which power cellular telephones, pagers, personal computers, video cameras and automotive electronics. Hence, its price has appreciated over 2,000% in value since the 1950s - eclipsing all other metals, including gold.

Another important rare earth metal is lithium. The lightest of all metals, it is also used in electronic devices like cellular phones and is responsible for reducing cellular phone batteries in size by an extraordinary 99% in less than two decades. Due to its ability to strengthen other metals and to act as an anti-corrosion agent, it is also used a great deal in manufacturing alloys. Meanwhile, cesium is primarily used in aerospace, electronic, photo electronic and for advanced medical applications, like cancer treatment. Notably, the United States has to rely exclusively on foreign sources for its cesium usage. Now we can appreciate the significance of such highly sought-after and expensive rare earth metals that Solid is committed to finding and profitably extracting.

Let's now look at the expansive 12,473-acre Golpejas Property, which Solid also has an option to purchase outright. It is located 25 kilometers (15.5 miles) from the city of Salamanca and is approximately 322 kilometers (200 miles) south of the Doade-Presqueira deposit. During the 1970s, the Golpejas Property hosted an open pit tin and tantalum mining operation. In 1983, the Spanish Institute of Mining estimated an open pit resource of 3.5 million tons grading 500 g/tonne of tin and 93 g/tonne of tantalum remained in place after the mine had closed down due to depressed tin prices at that time. Solid's management believes that a 2004 summer drill program will go a long way towards expanding the mine's resource base to over 10 million tons. Moreover, the presence of high-grade rare earth mineral grades (running as high as 45 g/tonne for cesium and 900 g/tonne for rubidium) also makes the project's economic prospects especially bright. It is worth noting at this juncture that rubidium currently trades for an eye-popping US $26 a gram, while cesium is valued at approximately double this figure.

Due to its close proximity to a major city, the Golpejas Property also benefits from good infrastructure such as paved highways, water and a power grid, as well as a skilled mining labour force at Salamanca. The prospect of an open pit mining operation with a very low stripping ratio (due to the fact that the rock type that hosts the tin and associated rare metals only requires crushing, without any need for blasting or grinding) also enhances the odds in favour of a successful new mining operation.

The company also recently entered into an option agreement to earn up to a 100% interest in an expansive gold-nickel property that encompasses several small, historic, abandoned nickel mines near the port city of Malaga, Spain. Significantly, the Malaga Property straddles a mineralized belt that measures at least 32 kilometres (20 miles) in length and 24 kilometres (15 miles) in width. As part of the agreement, Solid is required to expend Cdn. $1.9 million (US $1.2 million) on developing the property by April of 2006. The first stage of this work program, involving the expenditure of Cdn. $330,000 (US $250,000), has already been fulfilled by Solid well ahead of the April 24, 2004 deadline. Much of this imminent work program will be centred around a 12-hole drill program that is scheduled to commence in late January. This drilling will focus mainly on one particular past producing nickel mine where an underground sampling program has revealed rich grades as high as 6.56% nickel over 4.7 metres (15.4 feet). Grab samples also assayed as high as 8.7 g/tonne of gold while grab samples from an associated mine dump assayed 2.87 g/tonne of platinum, 2.88 g/tonne of gold and 1.23% of nickel.

Significantly, the upcoming drill program represents the first time that an exploratory drill program has ever been conducted on this extensively mineralized property. Additionally, a number of the most prospective of 20 or more mineralized showings that all lie within the vicinity of the six historic nickel mines are also expected to be examined during 2004. These showings include rich nickel and gold vein structures that are exposed at surface. Subsequently, the company is expected to conduct a major in-fill drill program during the summer to outline the parameters of the most prospective of these discovery zones. This drilling will also be aimed at determining each showing's structural potential, as well as to establish where the best grades and mineralized widths present themselves.

Moreover, the prospect of uncovering a significant platinum deposit on this 82-square-kilometre (31.6-square-mile) geologically fertile property appears to be very real. This is evidenced, in part, by the fact that alluvial platinum has been found in streams that drain from two ultramafic intrusive massif rock complexes that are believed to host mineral-rich massive sulphide ore bodies at depth. Also, the presence of platinum in tailings proves that this precious metal is present in one or more of the property's six past-producing nickel mines.

The prospect of identifying an important platinum discovery could prove to be a tremendous opportunity for Solid, especially now that platinum is trading at a 23-year high of over US $850. Indeed, platinum prices are benefiting from a long-tem rally that has been precipitated by a global supply shortage. In fact, demand has outstripped supply for six years in a row now. Furthermore, this supply-demand imbalance is not likely to ease up any time soon because platinum discoveries tend to be few and far between. Additionally, the world's two largest producers, Russia and South Africa, are both encountering production problems mainly related to depleted supplies.

Platinum is extensively used in the North American automobile industry for the manufacture of environmentally-friendly catalytic converters. Now the auto industry is gearing up to consume even more of this rare metal in response to the United States government's drive to develop hydrogen fuel cells. In January 2003, President Bush announced plans to allocate U.S. $720 million over five years to accelerate the development of fuel cells to combat fossil fuel emissions.

On a corporate note, Solid Resources is presided over by Alvin Harter, who has been the driving force behind a number of important mineral discoveries since 1969. That was the year that he put the Silver Bear Mine into production -- a major silver-copper discovery in the Northwest Territories that was made by Terra Mining, a public company that Harter founded and presided over. In the following two decades, Harter's Terra Mining successfully launched several other mines, producing a grand total of 22 million ounces of silver and 35 million pounds of copper. Remember, that this is a business in which the odds of commercializing a mineral deposit are often cited as around one in a thousand.

However, Harter has never been intimidated by such daunting odds. On the contrary, he is convinced that he can duplicate his previous prolific successes -- again in the Northwest Territories -- with the Bear Property.

"The Bear Property shows even more economic potential than the Silver Bear Mine that I put into production. It's that good," he told SmallCapMedia.

Likewise, he is no less enthusiastic about Solid's prospects for at least one major success story among the company's three mineral-rich Spanish properties.

"I've put five mines into production and the Doade-Presqueira is by far the best property I've ever seen. I am very confident that it will become a world-class mine," he adds.

From a technical perspective, Solid is a tightly-held stock with 9.4 million shares outstanding (11.67 million fully diluted). Such a situation, matched with positive news flow, typically acts as a catalyst to higher share price valuations. On this note, Solid's share price has been "marking time" mostly within in a Cdn. $1.70 to $2.40 price band in recent months, largely due to a lull in exploration activity. As a result of this situation, the stock has also suffered from a lack of liquidity, which accounts for its choppy trading pattern.

However, the stock has recently found technical support at the Cdn. $2.00 level which is probably due to the imminent commencement of the company's most busy exploration season in years. Accordingly, SmallCapMedia believes that 2004 will prove to be a banner year for Solid Resources as the company promises to make solid headway on all four of its properties. Such a scenario is thereby likely to set the stage for a sustained up-trend in Solid's share price throughout 2004.