Solis Minerals (ASX:SLM) is seeking to delist from the TSX Venture Exchange, as well as proceed with a re-domiciliation of the company to Australia.
Speaking to Mining.com.au, CEO Mitch Thomas says there are no significant regulatory hurdles and the re-domiciliation process is expected to be completed by August, subject to shareholder vote.
“There will be no impact on exploration apart from releasing more funds from corporate activity toward drilling,” Thomas says.
Shareholders wishing to trade on the Australian Securities Exchange (ASX) will need to request to convert their shares, on a 1:1 basis, to chess depositary interests (CDIs) held in Australia.
Thomas believes that its shares and overall liquidity will benefit from a focus on the Australian Securities Exchange (ASX). Additionally, cost and governance efficiencies will be realised through one primary listing, he tells this news service.
Solis, which has a market capitalisation of $14.1 million, expects the delisting to occur on or around 23 June 2025.
Meanwhile, the re-domiciliation process is subject to the approval of Solis’ shareholders and applicable regulatory approvals. Further details regarding the process will be made in a subsequent announcement.
Thomas adds that the company believes that streamlining the listing structure is the best outcome for all shareholders.
“This change will release more resources to focus on exploration of our highly attractive copper-gold projects in southern Peru,” Thomas says.
“The commencement of drilling last week at Chancho al Palo — with Ilo Este to follow shortly — marks the start of a very exciting period of newsflow.”
At Chancho al Palo, a diamond drilling program will test anomalies identified in surface mapping, sampling and geophysics, as previously reported. The results are expected to return in July 2025.
Thomas notes that there is potential in the future to expand Solis’ project portfolio in South America, however the company is currently focusing on its three main projects in Peru.
Solis Minerals is building a copper portfolio around its core tenements of Ilo Este and Ilo Norte and elsewhere in the Coastal Belt of Peru. The company holds 76 exploration concessions for a total of 65,100 hectares.
Write to Aaliyah Rogan at Mining.com.au
Images: Solis Minerals
