Solaris Resources
Primary ticker: TSX: SLS, NYSE: SLSR
Stage of development: Exploration, Development
Primary minerals: Copper, gold, silver
Project to promote: Warintza, Ecuador
Project location: Ecuador
Website: www.solarisresources.com
Corporate presentation: Click here
Solaris is advancing a portfolio of copper and gold assets in the Americas, which includes a world class copper resource with expansion and discovery potential at its Warintza Project in Ecuador; a series of grass roots exploration projects with discovery potential in Peru and Chile; and significant leverage to increasing copper prices through its 60% interest in the La Verde joint-venture project with a subsidiary of Teck Resources in Mexico.
Cash: USD 84M
Debt: USD 30M
Major shareholders:
Richard Warke, Executive Chairman: 36%
Blackrock: 9%
Management: 5%
Lundins: 4%
Boundary Creek: 4%
Sprott: 2%
Financials
Management Profile
Mr. Lamba brings nearly fifteen years of experience in financial services and capital markets covering the mining sector, with a wide range of experience covering projects from early-stage exploration through feasibility and construction to production in both base and precious metals. Mr. Lamba most recently served as Senior Mining Analyst at TD Cowen, a leading North American investment bank. Mr. Lamba is a Chartered Financial Analyst and completed an MBA at the Rotman School of Management at the University of Toronto and degrees in engineering and economics at Queen’s University.
What is your rationale for taking part in 121 Mining Investment?
Looking to find new sovereign wealth funds, family offices, high net worth investors capable of making equity investments in the open market.
What recent news would you like to highlight to investors attending?
22 July 2024
Mineral Resource Estimate (2.3Bt)
9 September 2024
Environmental Impact Assessment (EIA)
Announces Initial Steps to Emigrate to Ecuador
10 September 2024
Regional Exploration Update
19 September 2024
Warintza Drill Results
Record 10 km Drilled
7 October 2024
Warintza Drill Results
What are your key goals in 3 months, 6 months, 12 months?
3 Months:
EIA Technical Approval – H1/25
6 Months:
Mineral resource Update – Mid-2025
12 Months:
PFS Completion and Exploitation Agreement – H2/25
What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?
What do you think makes your company such a compelling investment?
What are the top 3 key investor takeaways?
- Warintza is one for the best greenfield copper development projects available given its global scale resource (with a high-grade component at surface) and is in a mining district (close to existing infrastructure, at low elevation, has access to fresh water)
- Funded for our programs into 2026; De-risked in 2025
- Unique Value Opportunity (Managed by the Augusta Group) – Analyst consensus NAV8% of US$4B (US$3.75/lb copper). SLS is trading at <0.2x P/NAV vs. peers up to US$3B market cap