Solis Minerals Ltd. (SLMFF)
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Drill program begins at Solis' Cinto in Peru - ICYMI
Solis Minerals Ltd (ASX:SLM, TSX-V:SLMN, OTCQB:SLMFF) earlier this week confirmed it has received final exploration permitting to commence drilling at its 100%-owned Cinto copper project in southern Peru. The company said it now has 17 drill pads approved and is currently mobilising equipment to begin its initial campaign.
Solis Minerals appoints HLB Mann Judd as external auditor to support re-domicile
Solis Minerals Ltd (ASX:SLM, TSX-V:SLMN, OTCQB:SLMFF) Ltd has appointed HLB Mann Judd as its new external auditor following a competitive tender process. The decision supports the company’s TSX Venture Exchange delisting and re-domicile to Australia. The appointment is subject to shareholder ratification at the next Annual General Meeting. Solis formally completed its TSX-V delisting effective June 23, 2025. The move reflects a strategic realignment intended to boost liquidity and deliver efficiencies in governance and cost structure. “A single listing is expected to improve investor focus and deliver cost and governance efficiencies,” said chief executive officer Mitch Thomas. HLB Mann Judd was chosen for its strong track record in auditing exploration-stage companies progressing toward production. The firm’s in-country expertise in South America was also a decisive factor, aligning with Solis Minerals’ operational footprint. The outgoing auditor, Davidson & Company LLP, has formally submitted its resignation, with documentation lodged on SEDAR+ in Canada. “HLB Mann Judd is a global firm with deep experience in working with listed exploration companies such as Solis Minerals,” Thomas said. “Their global team will help ensure our processes and controls are world-class as we advance rapidly towards development and production. On behalf of the company, I also wish to sincerely thank Davidson & Company LLP for their support of Solis Minerals in recent years.” The company noted the appointment is part of its broader transition and growth strategy. Meanwhile, work continues on the ground, with Solis last week completing the first diamond drill hole at its 100%-owned Chancho al Palo copper-gold prospect in southern Peru, intersecting iron oxide copper-gold (IOCG) and porphyry-style mineralisation. The hole, designated CAP-001-2025, was drilled to a depth of 713 metres. Initial IOCG-style mineralisation was observed at 184 metres, including visible chalcopyrite. From 451 metres, the company reports the presence of porphyry-style mineralisation, followed by a marked increase in IOCG-style mineralised breccias from 586 metres. Importantly, visible gold was logged at 620 metres, further highlighting the mineral potential of the target. The completed hole forms part of Solis' maiden drill program at Chancho al Palo, designed to test high-priority targets within a broader copper-gold system located in the prolific coastal IOCG belt of Peru. Assay results are pending. Amazon.com Inc (NASDAQ:AMZN)'s upcoming Prime Day sale event could drive more than $21 billion in sales, according to Bank of America analysts. This is driven by Amazon’s decision to extend the sale to 96 hours, double last year’s duration, starting July 8. This would represent an almost 60% increase compared to last year's Prime Day results and would account for more than 10% of Amazon's anticipated gross merchandise volume for the third quarter. Specifically, they project first-party sales will rise by 55% year over year to reach $11.5 billion, while third-party sales could increase by 67% to $10 billion. "By extending the duration of savings, it indicates that Amazon possesses enhanced retail logistics capabilities to provide promotions, and that inventory levels are not a limiting factor," the analysts wrote in a research note,” they wrote. The analysts added that a longer Prime Day could pressure profit margins if shoppers focus on low-margin products or if aggressive promotions cut into earnings.
Solis Minerals prepares for busy drilling season with new CEO and technical director appointments
Solis Minerals Ltd is gearing up for an extensive exploration and drill testing season for its copper projects in the prolific Copper Coastal Belt of Peru, selecting a new CEO as outgoing CEO Michael Parker moves to a technical director role. Formerly chief financial officer of Latin Resources, incoming CEO Mitch Thomas has worked extensively in South America, including three years in Peru with Rio Tinto at the La Granja Copper Project. Thomas also worked with Rio Tinto’s copper-focused London M&A team and more recently played an instrumental role in the divestment of Latin Resources’ Salinas Lithium Project in Brazil to Pilbara Minerals Limited for $600 million. “We are delighted to welcome Mitch Thomas to Solis Minerals,” Solis non-executive chair Chris Gale said. “Mitch has a proven track record of supporting early-stage and large-scale mining projects in South America to deliver shareholder value. “We are very excited about the extensive drilling campaign in 2025 that will take place across our copper-rich tenement package in southern Peru. “We are confident that Mitch, Mike Parker and the whole Solis team, will position Solis Minerals for success in 2025 and beyond. “We also thank Mike Parker for his leadership over the past six months and for accepting the position of technical director in Peru. “The extensive work in identifying drill-ready targets and adding more tenements to our now 66,000-hectare tenement package in southern Peru has placed Solis Minerals in a commanding position in what is one of the most attractive copper provinces globally.” Read: Solis Minerals identifies extensive copper mineralisation at Cinto Project, Peru Mike Parker will transition to a predominantly technical focus for Solis, leveraging his experience as a geologist. Parker has held senior country manager positions with First Quantum Minerals and was responsible for two major copper discoveries: the Lonshi and Frontier copper mines. Solis intends to drill test the Chancho Al Palo project in the first quarter of this year followed by Ilo Este in the second, once permitting is complete. The company is also undertaking various exploration activities at the Cinto, Chocolate and Canyon projects during the year with an eye to drill testing further targets in the second half of 2025.
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Solis Minerals Ltd. Profile
| Metals & Mining Industry | Materials Sector | Mitchell Thomas CEO | OTC PINK Exchange | 83423L108 CUSIP |
| AU Country | 10 Employees | - Last Dividend | 29 Aug 2019 Last Split | - IPO Date |
Overview
Solis Minerals Ltd. is a dedicated player in the minerals sector, focusing on the acquisition, exploration, and development of mineral properties, with a keen interest in copper and a range of other valuable metals. Initially known as Westminster Resources Ltd., the company underwent a rebranding to adopt its current name in July 2021, marking a new chapter in its growth and development strategy. Founded in 2005, Solis Minerals has established its headquarters in Vancouver, Canada, positioning itself in a prime location for its operations within the mining industry. The company's primary efforts are directed towards its flagship properties, the Ilo Norte and Ilo Este copper projects, situated in Southern Peru, which collectively cover an extensive area of approximately 9,500 hectares. These projects underscore Solis Minerals Ltd.'s commitment to exploiting high-potential mineral deposits, utilizing its expertise to explore and potentially develop these sites for their rich copper reserves alongside other metals.
Products and Services
- Exploration Services for Copper and Other Metals
Solis Minerals Ltd. specializes in the exploration of copper, a crucial industrial metal known for its widespread use in electrical wiring, construction, and various other applications. The company's exploration activities extend beyond copper to include other valuable metals such as gold, silver, iron, and molybdenum. By employing advanced exploration techniques and methodologies, Solis Minerals aims to identify and delineate metal deposits that have the potential for development and commercial exploitation.
- Development of Mineral Properties
Following the successful identification and assessment of mineral deposits, Solis Minerals engages in the development of these properties. This process involves further detailed investigation, feasibility studies, and preparations for mining activities. The focus is on transforming prospective mineral deposits into commercially viable operations, leveraging the company's expertise and resources to ensure the efficient and effective development of its mineral properties.
- Flagship Properties: Ilo Norte and Ilo Este Copper Projects
The Ilo Norte and Ilo Este projects represent the cornerstone of Solis Minerals Ltd.'s portfolio. These projects are located in Southern Peru, a region with a rich history and significant potential for copper mining. Covering a combined area of approximately 9,500 hectares, these properties are at the heart of Solis Minerals' exploration and development activities. The strategic focus on these properties is driven by the objective to capitalize on the rich copper reserves in the region, alongside exploring the possibility of discovering and developing deposits of other valuable metals within these extensive areas.
