-- Solaris Resources (SLS.TO, SLSR) on Thursday said it received the technical approval of the Environmental Impact Assessment for its Warintza Project in southeastern Ecuador.
The EIA technical approval reflects a "comprehensive evaluation" of the project's environmental, engineering, and social management plans, including detailed analysis covering environmental baseline studies, water management, biodiversity protection, infrastructure design, geological understanding and community engagement frameworks, the company said in a statement.
Following receipt of the EIA technical approval, the Warintza Project will advance through the remaining stages of Ecuador's environmental licensing and development approval process including the government-led Free, Prior and Informed Consultation (FPIC) process.
Solaris said following the publication of the pre-feasibility study in November 2025 and the receipt of EIA technical approval, it has satisfied the conditions required to draw down the second tranche under its $200 million financing agreement with Royal Gold, which closed in May 2025. It enables the company to access $50 million in additional funding that further strengthens its balance sheet and provides additional financial flexibility to advance key development activities at Warintza.
"The EIA review involved rigorous technical evaluation and close collaboration with regulators over an extended period. Achieving this milestone significantly de-risks the project and reflects the strength of our environmental planning and responsible development approach. Importantly, this milestone also enables the company to access the second tranche of US$50 million under our financing agreement with RGLD Gold AG, a wholly-owned subsidiary of Royal Gold, further strengthening the balance sheet as we continue to advance key workstreams across permitting, infrastructure development and district scale exploration at Warintza" chief executive Matthew Rowlinson said,
The third tranche of $50 million will become available on the first anniversary of the closing date, subject to completion of all filings necessary to fully perfect Royal Gold's security.
Shares of the company were last seen up $0.53 to $13.04 on the Toronto Stock Exchange.
Price: $13.00, Change: $+0.49, Percent Change: +3.92%