Solaris Resources Net Loss Drops to $8.5 Million for First Half
The copper-gold explorer reported a net loss of $8.485 million for the six months ended June 30, 2026, compared to $20.712 million in the same period last year.
Solaris Resources Inc. (SLSR), a copper-gold exploration and development company, reported a net loss of $8.485 million for the six months ended June 30, 2026. This represents a decrease from the $20.712 million net loss recorded during the same period in 2025. For the three months ended June 30, 2026, the company reported a net loss of $3.506 million, compared to $5.338 million for the corresponding three-month period in 2025.
Operating expenses shifted as the company advanced its flagship Warintza project in Ecuador. Exploration expenses for the first half of 2026 were $2.005 million, down from $21.167 million in the first half of 2025. The company said these expenses were lower because it began capitalizing costs for the Warintza project following the publication of a pre-feasibility study in November 2025. General and administrative expenses also fell to $6.042 million for the six months ended June 30, 2026, from $7.783 million in the prior-year period.
Liquidity improved following a funding milestone. Cash and cash equivalents rose to $54.014 million as of June 30, 2026, from $25.210 million at December 31, 2025. The company said it received $50 million in additional funding in April 2026, representing the second tranche of a $200 million financing agreement with Royal Gold. This drawdown followed the publication of the pre-feasibility study and the receipt of technical approval for the Environmental Impact Assessment (EIA) for the Warintza project on April 9, 2026.
Cash generated from operating activities for the six months ended June 30, 2026, was $41.868 million, compared to $67.455 million for the same period in 2025. The company attributed the cash generation in both periods primarily to the receipt of Royal Gold funding.
As of June 30, 2026, exploration and evaluation assets were valued at $42.503 million, an increase from $26.282 million at the end of 2025. The company's total liabilities stood at $153.203 million, which included $141.333 million in deferred revenue, up from $93.674 million at December 31, 2025.
Solaris is currently advancing a feasibility study for Warintza with engineering firms Ausenco, Knight Piésold, and AMC Consultants. Following the EIA technical approval, the company will proceed through the remaining stages of Ecuador's environmental licensing and development approval process, including the government-led FPIC process.