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February 26, 2024
PI Global Investments
Precious Metals

Zijin Mining Group invests $130 million in Solaris Resources


Solaris Resources Inc. (TSX: SLS) announced today that Zijin Mining Group made a $130 million private placement in Solaris at a subscription price of $4.55 per common share.

Solaris Resources’ flagship project is its Warintza project in Ecuador. Solaris describes the Warintza project as “…a broad cluster of outcropping copper porphyry deposits anchored by a large-scale, high-grade open pit resource inventory.”

Upon closing of the private placement, Zijin will own approximately 15% of the common shares on a fully diluted basis.

 

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.



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