Solis Minerals (ASX:SLM) Chairman Chris Gale has bought more shares on market in the South America-focused critical minerals explorer.
Boutique investment advisory firm Allegra Capital, of which Gale is a shareholder and founding director, purchased 200,000 chess depositary interests (CDIs) at $0.146 each for a total $29,200 on 12 July.
CDIs allow non-Australian companies to trade their shares on the ASX and can either be equivalent to one share or a multiple or fraction of shares.
Solis Minerals has offices in Vancouver and Western Australia and is also listed on Canada’s TSX Venture Exchange (TSX-V:SLMN) and the Frankfurt Stock Exchange (FSE:08W).
Gale now indirectly owns 236,364 CDIs via Allegra Capital and directly owns 531,250 CDIs, valuing his total shareholding at around $130,494 at the current share price of $0.17.
He also holds 450,000 options, with 350,000 exercisable at $0.175 before 27 October 2025 and 100,000 exercisable at $0.30 before 18 June 2026, and 1.2 million performance rights expiring within three years of issue.
Gale has a long career in the mining sector, particularly in South America, spanning senior management roles in both the public and private sectors.
He founded Latin Resources (ASX:LRS) in 2008 and is currently Managing Director of Brazil-focused lithium explorer, and is also Chairman of critical minerals explorer Oar Resources (ASX:OAR).
Gale chaired the Council on Australian Latin American Relations from 2012 to 2018, which was established by the Australian Government Department of Foreign Affairs and Trade in 2001.
Solis, which has a market capitalisation of $14.5 million, is advancing exploration at its Cinto Copper Project in Peru.
Earlier in July the company signed an access agreement with the local Carumbraya community and initiated systematic mapping and sampling of outcropping copper mineralisation.
Assays returned up to 7.14%, with mineralisation mapped over a 200m by 100m area in historical workings associated with alteration and structural deformation.
Solis also owns the Borborema Lithium Project in northern Brazil and the Il Este and Ilo Norte Copper Project in southern Peru.
Write to Angela East at Mining.com.au
Images: Solis Minerals
