By Adriano Marchese
Solaris Resources said Wednesday that it has received a financing package of $200 million from Royal Gold to increase its liquidity and pay down some of its debts.
The Chile-based copper-gold miner said $100 million of the financing is available immediately. The financing gives Solaris long-term liquidity required to fund value accretive, derisking activities, and also pays off the senior secured debt facility with Orion Mine Finance Management, the company said.
The other $100 million will be made available in the short term in two different tranches after the achievement of certain milestones, said Solaris.
The company said Royal Gold will receive the equivalent of 20 ounces of gold per 1 million pounds of copper produced from one of the Solaris streams.
It will also receive a 0.3% net smelter-return royalty on all metal production from the RGLD Gold expanded area of interest, Solaris said.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
May 21, 2025 06:53 ET (10:53 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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