RE:RE:RE:RE:RE:TD increases Target price to $11Thanks for this. I guess TD doesn't update the platform targets right away. There is a good comparative chart on page 3 (for those who deal with TD) that parallels the Life Cycle of a Junior Explorer chart.
savyinvestor333 wrote: You have to look in the intra day notes.
Event This morning, Solaris reported results for four holes from the ongoing drill program at its Warintza copper-molybdenum-gold project (100%) in south-eastern Ecuador.
Impact: POSITIVE The latest four holes have returned long intervals of high-grade mineralization from surface, well beyond the 200m average depth-extent of historical drilling that the Warintza Central resource estimate is based upon (124 Mt Inf grading 0.70% CuEq, based on historic drilling of <7 km).
SLS-10 was an extensional hole collared at the western limit of drilling and drilled to the west, returning 600m of 1.00% CuEq (0.83% Cu, 0.02% Mo, and 0.12 g/t Au) from surface, significantly extending mineralization in this direction.
The high-grade interval of 600m of 1.00% CuEq (recall, the median grade for open-pit copper discoveries over the last two decades is ~0.37 g/t Cu; Exhibit 3) reported in SLS-10 corresponds to a high conductivity anomaly that continues to the west for a further 1.5km at or near surface and is being targeted in follow-up extensional drilling that is now underway. We continue to see considerable potential for resource expansion relative to our estimates (Exhibit 1) — both at depth, where resources were calculated to 200m, but recent drilling has suggested that mineralization continues to at least 1,000m, and along strike, where drilling has not constrained mineralization.
The company is planning to complete its 40km drill program (17.4km completed to-date) at Warintza Central in H1/21 (target volume of 1,100m x 450m x 1,000m). This implies total tonnage of ~1.3Bt. The maiden resource is expected to be a subset of this (i.e. what is mineralized above the selected cut-off grade and fits in the pit-shell). TD Investment Conclusion We believe that Solaris is in the early stages of making multiple world-class discoveries among its cluster of porphyries on the Warintza property. We expect the stock to continue to re-rate higher as the company demonstrates the growth potential of the project.
We are maintaining our SPECULATIVE BUY recommendation and increasing our target price to C$11.00 (from C$10.00) on a higher multiple that reflect the recent promising exploration results and rising multiples in the sector, given the ongoing strength in copper. 8 8 7 7 6 6 5 5 4 4 3 3 2 2 1 1 Aug-20 Oct-20 Dec-20 Feb-21 SLS-T: Price Company Profile Solaris is advancing a portfolio of copper and gold assets in the Americas and started trading publicly in July 2020. All of the company's exploration programs were conceived by David Lowell. The company's primary focus is on its flagship Warintza copper-molybdenum-gold project (100%) in southeastern Ecuador. Metals & Minerals S