Solis Minerals (ASX:SLM) Chairman Chris Gale has increased his ‘skin in the game’ with the purchase of more shares on market in the South America-focused critical minerals explorer.
Boutique advisory firm Allegra Capital, of which Gale is a shareholder and founding director, bought a further 200,000 chess depositary interests (CDIs) at a cost of around $19,776.
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 824,600 CDIs via Allegra Capital and 588,235 CDIs via his super fund, and directly owns 531,250 CDIs, valuing his total shareholding at around $194,409 at the current share price of $0.10.
He also holds 450,000 listed options, with 350,000 exercisable at $0.175 before 27 October 2025 and 100,000 exercisable at $0.30 before 18 June 2026, and 3.2 million performance rights.
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, which was acquired by Pilbara Minerals (ASX:PLS) in a $600 million deal in February this year, and is also Chairman of Core Energy Minerals Limited (ASX:CR3).
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 $14.1 million, is advancing exploration at its Cinto Copper Project in Peru.
The company 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
