Vancouver-based, Solaris Resources Inc., announced the appointment of former star research analyst, Daniel Earle, as President and CEO on November 7, 2019. The company is reportedly advancing a portfolio of exploration projects in the Americas.
Mr. Earle has more than 17 years of experience in the mining industry and capital markets, but rose to prominence as a Bay Street analyst known for making prophetic calls on exploration and development projects that came ahead of or against consensus opinion.
During his time on the Street, he recommended a long string of companies that went on to be acquired by larger companies, including Aquiline, Comaplex, Andean, Ventana Gold, Extorre, Augusta, Osisko, Lake Shore Gold, Exeter, NewCastle, Richmont Mines, Arizona Mining, Detour Gold and Continental Gold, as well as predicting some notable shortfalls and failures.
“I’m excited to begin this new phase of my career,” Earle commented. “I’m honored to have the opportunity to lead a company that I think will quickly establish itself as the “go to” name in copper/gold exploration. I expect to rapidly grow our high-grade Warintza discovery in Ecuador once we start drilling, as well as, a pipeline of other grassroots exploration projects that were selected by our founder, David Lowell.
David Lowell is arguably the most successful exploration geologist of all time. He invented the Porphyry Copper Model itself and then made over a dozen major copper and gold discoveries spanning a 50-year career, including our Warintza Project in Ecuador and, what is by far the world’s largest copper mine, La Escondida, which accounts for approximately 5% of the world’s copper supply and is worth a reputed $30 billion on its own.
Other discoveries he is famous for include Kalamazoo, Vekol Hills, Bajo Alumbrera, which he played a significant role in, the JA Deposit, Casa Grande West, Lepanto Far Southeast, Zaldivar, San Cristobal, Maria Rosa, Leonor, Los Calatos, Pierina, and the Mirador mine, which is to the south of our Warintza Project and was put into commercial production earlier this year.”
In November, Solaris also appointed Jacqueline Wagenaar as Vice President of Investor Relations. An award-winning investor relations executive, Wagenaar brings extensive capital markets experience with publicly traded companies, most recently leading investor relations at a gold mining company for the last 10 years.
Solaris Resources is a publicly reporting company that is considering a potential stock exchange listing in 2020. The company was spun out of Equinox Gold Corp., which is a multi-mine producer that aspires to reach the lofty goal of one million ounces of annual gold production that would place it among the senior gold producers. The founder, and Hall of Fame mining entrepreneur, Ross Beaty, has mused that he expects its 32% ownership stake in Solaris to eventually offset the debt his company has accumulated acquiring and building three mines.
Other notable large investors in Solaris include Richard Warke – famous for the sale of its monstrous Taylor Project via Arizona Mining for $2.1 billion last year, Augusta Resource for $667 million in 2014 and Ventana Gold for $1.5 billion in 2011 – and Swedish mining tycoon, Lukas Lundin, of Lundin Gold, Lundin Mining, Lundin Petroleum, and so on.
In November, Solaris Resources closed a C$5.6 million non-brokered private placement financing, issuing 14,121,000 units at a price of $0.40 per units. Each unit consisted of one common share of the company and one-half of a common share purchase warrant of the company, with each warrant entitling holders to acquire one common share at a price of $0.60 per share for a period of three years.
Although Solaris Resources’ shares are not currently listed on a designed stock exchange, the company is recognized as a “public corporation” by Canada Revenue Agency and is a “reporting issuer” under Canadian securities legislation. and continues to comply with its continuous disclosure obligations including issuing press releases and financial reports.