Solaris Resources (TSX:SLS) (OTCQB:SLSSF) has announced the appointment of China International Capital Corporation Limited (CICC) as its financial advisor for Chinese operations. CICC is a global investment bank headquartered in Beijing, with more than 200 branches across China and additional offices in Hong Kong and other international locations. The firm holds a strong position in the Chinese M&A market, particularly in transactions related to the mining sector. This move comes after Solaris Resources has received multiple acquisition proposals for its Warintza Project in Ecuador.
Mr. Richard Warke, Executive Chairman, commented in a press release: “Warintza is a very special asset that has the potential to create tremendous long-term value for all stakeholders by unlocking one of the last major greenfield districts at low elevation and adjacent to infrastructure in the global copper industry. The Company has a rich opportunity to significantly grow the Project while advancing it through technical studies and permitting with financing consistent with my commitment to minimize shareholder dilution.”
CICC will be responsible for evaluating the viability of these proposals, among other strategic considerations. The appointment is particularly timely given the current surge of interest from Chinese investors in Ecuador, as reflected in recent news reports. Companies engaged in exploration projects in the country, like Solaris, are increasingly receiving calls and inquiries about potential collaborations or acquisitions.