Top Picks for Copper: Solaris Resources (SLSR)

[dan_s]

VANCOUVER, British Columbia, April 16, 2024 (GLOBE NEWSWIRE) -- Solaris Resources Inc. (TSX: SLS; OTCQB: SLSSF) (“Solaris” or the “Company”) is pleased to announce that it has received approval to list its common shares on the NYSE American LLC (“NYSE American”) with trading expected to commence on Friday, April 19, 2024 under the symbol “SLSR”. The Company will remain listed on the Toronto Stock Exchange under the symbol “SLS”.

Concurrent with the start of trading on the NYSE American, the Company’s common shares will cease trading on the OTCQB Venture Market. Shareholders are not required to take any action. The Company recommends that investors who have bought shares on the OTCQB Venture market monitor their accounts to ensure that their holdings correctly reflect the new ticker symbol.

About Solaris Resources Inc.

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.
------------------------
MY TAKE: Several large mining companies are taking a hard look at the Warintza Project. With copper approaching an alltime high and demand surging, Solaris is likely to get several bids to consider. Copper chart: https://tradingeconomics.com/commodity/copper

Warintza is just one of over a dozen copper projects that Solaris Resources is proving up.

[marc.wolin@yahoo.com]

Solaris

Ecuador is not a stable country. How do you handle the instability of a banana republic?

Marc Wolin

[ChuckGeb]

In addition to the jurisdictional issues, Solaris seems to be moving too close to comfort for me with its ever growing Chinese affiliates:

January 11, 2024 – Vancouver, B.C. – Solaris Resources Inc. (TSX: SLS; OTCQB: SLSSF) (“Solaris” or the “Company”) is pleased to announce that it has entered into a subscription agreement (the “Subscription Agreement”) in respect of an approximately $130 million private placement of common shares of Solaris (“Common Shares”) by an affiliate of Zijin Mining Group Co., Ltd. (“Zijin”) at a subscription price of $4.55 per Common Share (the “Private Placement”).

October 03, 2023 – Vancouver, B.C. – Solaris Resources Inc. (TSX: SLS; OTCQB: SLSSF) (“Solaris” or the “Company”) announces the appointment of China International Capital Corporation Limited (“CICC”) as the Company’s Chinese financial advisor.

I don’t see how a domestic shareholder can possibly benefit from these arrangements. Maybe Black Rock can but I don’t trust them either,

[Orindakid]

I am an ERO Copper fan, they have gold and copper mines in Brazil, new mine coming on line in 2024 with another in the next couple of years.
A friend of mine just visited Brazil, he said it is "amazing" how well it is developing.
Good luck.

[aja57]

Orindakid, the mines in Brazil will develop 'amazing' and then Lula and the crazy Supreme Court of Brazil will nationalize it. Elon Musk will tell you all you need to know about doing business in socialist Brazil.

[Finn352]

Unfortunately, there are not many major copper mines in stable Western democracies.. You can choose between Chile, Peru, Equador, Brazil or various African countries. Elsewhere major copper mines tend to belong to big names like Freeport (FCX) or BHP but pure plays are harder to find.

For the risk takers out there, you could take a look at some of these:

Aeris Resources in Australia (AIS on ASX) - close to bankcruptcy last year, but might make it if copper prices remain elevated. It is an existing producer, not just explorer. Has also other metals but copper dominated. Share price has doubled this year but is still far below 52 week highs (but they did a dilutive capital raise end of last year, so cannot compare share price directly).

Arizona Sonoran Copper (ASCU on TSX): a developer which means they probably need to raise capital at some point, which usually means dilution. Arizona is a reasonably safe location though.

Libero Copper (LBC on TSX): a micro cap developer in Columbia (sounds very risky) but backed by the mining legend Frank Giustra. Up 20 % on Friday and could become a multibagger - or nothing.

Horizon Copper (HCU on TSX): interesting concept of a copper streaming company, with links to gold streamer Sandstorm Gold. Still a micro cap, and they only have one producing stream at the moment, with two others due to come online in the next couple years. The good thing with streaming companies is that since they get some cash flow, there is no need to raise lots of capital like small companies looking to build a new mine.

For more copper education, I can recommend this very recent virtual conference: https://www.youtube.com/watch?v=7a3ocICWQ9E

I do hold a position in Solaris and sometimes trade ERO. Have mixed feelings about the Chinese involvement in Solaris, but if it stays limited and helps them to build or sell the mine, maybe.

[aja57]

May want to check out HudBay Minerals(HBM), Toronto based company in copper, zinc, molybdenum, and precious metals. Has mines in AZ and Nevada. Third largest producer in Canada. Also mines in Peru. Has a minute dividend, growing positive free cash flow and debt which appears under control.