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The Warintza copper deposit is tucked away in the southeast corner of Ecuador. Credit: Solaris Resources
The net proceeds will be used primarily for exploration and infill drilling at the project and for regional exploration. The regional activities include fieldwork on 10 concessions recently awarded to the company. The company also issued, on a private placement basis, about 2.8 million common shares at C$4.90 per share for gross proceeds of C$13.7 million. The shares were issued pursuant to a previously announced offtake financing package.
Solaris has concentrated its activities at Warintza on growing the resource. A new estimate is due by the end of the year and a prefeasibility study in 2025.
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