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Solis Minerals Ltd (ASX:SLM)

ALERT: Price-sensitive ASX Announcement for SLM
Current share price for SLM : $0.080 0.003 (3.90%)+
Announcement
Release
29 Jul 2026 9:35AM
Price at Release
$0.077
Full Release
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Summary
During the quarter ending 30 June 2026, Solis Minerals Ltd made significant advancements in its South American lithium and copper projects, including the acquisition of the Brazil Lithium Project from Rio Tinto for US$0.5 million. This acquisition provides Solis a strategic presence in the Araçuaí–Salinas Lithium Valley, noted for its lithium potential. The company raised A$6 million from investors and reported a cash balance of A$6.6 million. Solis commenced a drilling program at its Mandacaru Lithium Project and received necessary permits for its copper projects in Peru. Payments to directors for the quarter totalled A$79 thousand.
Key Points
  • Solis Minerals acquired the Brazil Lithium Project from Rio Tinto for US$0.5 million with a 1.75% NSR royalty.
  • The Brazil Lithium Project is located in the Araçuaí–Salinas Lithium Valley, Minas Gerais, Brazil.
  • Solis Minerals raised A$6 million from institutional and sophisticated investors.
  • The company reported a cash balance of A$6.6 million as of 30 June 2026.
  • Solis Minerals commenced drilling at the Mandacaru Lithium Project in Brazil with a 10-drill-hole, 2,000 metre program.
  • Solis Minerals' copper projects in Peru, Cinto, and Cucho, received permits to commence drilling.
  • Payments to directors during the quarter amounted to A$79 thousand.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.