Solis Minerals Ltd Stock Price, News & Analysis

Solis Minerals (SLMFF) agreed 21 October 2025 to acquire up to 75% of the Cucho Copper Project, Peru, via a staged earn-in with an option to acquire 100% (subject to shareholder approval).

Key facts: Cucho is a large-scale porphyry copper-molybdenum-silver system with a 3,600 hectare land package and a 3 x 1.8 km mineralisation footprint. Historical drilling (2014) returned multiple long intercepts from surface (e.g., 269.1m @ 0.25% Cu). Project lies ~183 km north-northwest of Lima and ~40 km from Element 29's Elida.

The company plans drilling in early 2026. Cucho has no current Mineral Resource and historical anomalies remain largely untested.

Solis Minerals (ASX:SLM / OTC:SLMFF) has received firm commitments to raise up to A$5.9 million via a placement of up to 118,000,000 CDIs at A$0.05 per share in two tranches to institutional and sophisticated investors.

Proceeds will fund the Cucho acquisition and exploration, completion of Ilo Este drilling in Q4 2025, planned Cinto drilling in late Q4 2025, and general working capital. Chairman and CEO committed A$150,000 to Tranche 2; Director participation requires shareholder approval. CPS Capital acted as lead manager; fees include a 6% placing fee and proposed 20 million unlisted options to managers.

Solis Minerals (SLMFF) is changing its financial year-end from May 31 to December 31 to better align financial reporting and tax planning with business planning.

The transition year will cover the 7-month period June 1, 2025 to December 31, 2025. Interim and comparative reporting periods are defined for the transition year and the new 12-month year ending December 31, 2026. Filing deadlines for the transition year are: interim unaudited statements for the four months ended September 30, 2025 due by November 14, 2025, and audited annual statements for the 7 months ended December 31, 2025 due by March 31, 2026.

Solis Minerals (OTC:SLMFF / ASX:SLM) announced the appointment of Anthony Greenaway as a Non-Executive Director, effective once Solis completes registration as an Australian domiciled company, expected on or around 3 November 2025.

Mr Greenaway is a geologist with more than 30 years of international mining and exploration experience across Latin America, Australia, Asia and Africa. His background includes exploration, development and production of lithium, copper, gold, PGE and iron ore projects and leadership of the Salinas lithium development and sale for A$0.6 billion. He is currently Managing Director of Core Energy Minerals (ASX: CR3) and holds a BSc in Geology, AUSIMM membership and AICD membership.

Solis Minerals (SLMFF) has announced significant copper mineralization findings from its first drill hole at the Ilo Este project in Peru. The diamond drill hole IE-001-2025, completed to a depth of 482.10 meters, revealed four distinct mineralized zones totaling approximately 350 meters from surface with copper and molybdenum present.

The drill hole intersected multiple intrusive rock sequences with significant alteration and mineralization. Visual analysis showed copper grades estimated between 0.1-0.5% Cu across different zones. A second drill hole has commenced 200 meters south southwest of the first drill pad, targeting the northern magnetic anomaly as part of a planned 5,000-meter diamond drill program.

Laboratory assays from ALS Global are expected in September 2025, which will confirm the extent and grade of mineralization.

Solis Minerals (SLMFF) has initiated diamond drilling at its flagship Ilo Este copper-gold project in Peru. The company plans to execute a 5,000-metre drilling program targeting areas of known copper-gold mineralization and new target zones identified through recent geophysical and geological work.

The project is strategically located in a world-class mining district near major copper mines operated by Southern Copper, Teck, and Anglo American. Historical drilling results have shown promising mineralization, including intersections of 158 metres @ 0.20% copper and 0.16 g/t gold from surface, and 291 metres @ 0.21 g/t gold from 102 metres.

Solis Minerals (SLMFF) has announced significant mineralisation findings from its first diamond drill hole at the Chancho al Palo prospect in Peru. The drill hole CAP-001-2025, completed at 713 meters, intersected fault-bounded iron oxide copper-gold (IOCG) style mineralisation at 184 meters with visible chalcopyrite. Notably, porphyry style mineralisation was encountered from 451 meters, and visible gold was observed at 620 meters. The company plans a 2,500-meter drill program with 4-5 holes, with assays expected in July/August 2025. The prospect, located in Peru's coastal copper belt and approximately 9km from Southern Copper's refinery, has never been previously explored. A second drill hole is planned 200 meters west of the first pad, targeting similar anomalies.

Solis Minerals (SLMFF) has applied to voluntarily delist from the TSX Venture Exchange (TSXV), making the Australian Securities Exchange (ASX) its primary listing. The delisting is expected to occur around June 23, 2025. TSXV shareholders, representing approximately 8% of the company's securities following February 2025 placement, can convert their shares into CHESS Depositary Interests (CDIs) on a 1:1 basis to trade on the ASX. The company also plans to re-domicile to Australia, subject to shareholder and regulatory approvals. CEO Mitch Thomas stated this move will enhance ASX share liquidity and reduce administrative costs associated with dual-listing, allowing more resources to focus on copper-gold exploration projects in southern Peru.

Solis Minerals has announced the arrival of a diamond drill rig at its 100% owned Chancho al Palo project in Peru, marking a significant milestone as the first-ever drilling program at the concession. The drilling program will comprise approximately 2,500 meters across several priority targets, testing multiple anomalies identified through surface mapping, sampling, and geophysics. The project is strategically located 10 kilometers from the coast and 25 kilometers from Southern Copper's smelter and refinery complex. CEO Mitch Thomas will travel to Peru to oversee drilling operations at both Chancho al Palo and Ilo Este projects, with assay results expected in July 2025. The Ilo Este drilling is anticipated to commence in June, pending final permits.