Solis Minerals Limited has secured A$4.5 million through a placement with institutional investors to finance drilling at Ilo Este and Chancho al Palo in southern Peru. The funding will also support explorer activities at the Cinto Project and regional target developments. With granted drilling permits and strong investor backing, the company is optimistic about its copper exploration initiatives in 2025.
Solis Minerals Limited has announced a placement of A$4.5 million to institutional and sophisticated investors, with Directors committing A$205,000 pending shareholder approval. The funds will primarily support drilling at key targets Ilo Este and Chancho al Palo in southern Peru, alongside pre-drilling activities at the Cinto Project and additional regional exploration and capital needs. Drilling permits for Chancho al Palo have been granted, with other approvals anticipated soon.
The Placement is set at A$0.085 per New Share, along with unlisted options exercisable at 16 cents over two years. Strong backing from both existing and new investors highlights confidence in Solis’s extensive copper portfolio within the Southern Coastal Belt of Peru. Key upcoming initiatives include advancing drilling and target exploration across various projects.
Chief Executive Officer Mitch Thomas emphasized the significant landholding of nearly 70,000 hectares dedicated to systematic exploration in Peru’s Coastal Copper Belt. The support for this fundraising event reflects the perceived quality of Solis Minerals’ drill-ready targets. Expectations are high for 2025, as the company anticipates strong developments from its exploration activities in the region.
In summary, Solis Minerals Limited’s strategic placement of A$4.5 million will bolster its drilling programs and ongoing exploration efforts in Peru’s copper-rich regions. With strong investor confidence and imminent drilling approvals, the company is poised for productive advancements in its portfolio during 2025, underscoring its ambitious growth plans in the competitive mining sector.
Original Source: www.tradingview.com
