$SLSR

Solaris Resources Inc.

CIK:0002019103|SEC Filings

Consolidated Statements of Net Loss and Comprehensive Loss - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Profit or loss [abstract]
Gain on sale of royalty interest	$ (9,812)
Exploration expenses	35,345	61,507
General and administrative expenses	12,943	11,469
Loss from operations	38,476	72,976
Finance cost	5,737	5,070
Interest income	(1,126)	(2,007)
Foreign currency (gains)/losses	(1,366)	1,042
Net loss before tax	41,721	77,081
Income tax	568
Net loss after tax	42,289	77,081
Items that may be reclassified to profit or loss:
Foreign currency translation	2,135	(542)
Total comprehensive loss	44,424	76,539
Net loss attributable to:
Shareholders of the Company	42,227	77,017
Non-controlling interest	62	64
Net loss	42,289	77,081
Total comprehensive loss attributable to:
Shareholders of the Company	44,362	76,475
Non-controlling interest	62	64
Total comprehensive loss	$ 44,424	$ 76,539
Net loss per share attributable to shareholders of the Company
Basic (in Dollars per share)	$ 0.26	$ 0.49
Diluted (in Dollars per share)	$ 0.26	$ 0.49
Weighted average number of shares outstanding
Basic (in Shares)	165,125,705	157,319,752
Diluted (in Shares)	165,125,705	157,319,752

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Operations
Net loss for the year	$ (42,289)	$ (77,081)
Adjustments for:
Finance cost	5,737	5,070
Finance income	(1,126)	(2,013)
Income tax	568
Foreign exchange	(1,366)	1,042
Share-based compensation	3,903	3,998
Amortization	1,099	1,012
Warintza royalty sale	188
Reclamation provision	543	2,216
Other	(9)	6
Net changes in non-cash working capital items:
Prepaids and other	86	(299)
Accounts payable and accrued liabilities	(8,992)	7,565
Reclamation provision settlement	(125)	(13)
Deferred revenue	90,000
Other long-term liability	48	103
Net cash flows from/(used in) operating activities	48,265	(58,394)
Financing
Proceeds from issuing of common shares	244	39,625
Share issuance and loan finance costs paid	(7,257)	(1,895)
Proceeds from the exercise of stock options	463	26
Loan drawdown	15,000	15,000
Loan repayment	(60,000)
Payment of lease liability	(250)	(240)
Contribution from non-controlling interest		67
Other finance costs paid	(53)	(105)
Net cash flows (used in)/from financing activities	(51,853)	52,478
Investing
Restricted cash contribution	(250)
Capital expenditure on property, plant and equipment	(2,281)	(2,406)
Capital expenditure on exploration and evaluation assets	(1,888)	(250)
Finance income received	1,126	1,993
Net cash flows used in investing activities	(3,293)	(663)
Effect of exchange rate change on cash and cash equivalents	353	(548)
Decrease in cash and cash equivalents	(6,528)	(7,127)
Cash and cash equivalents, beginning of year	31,738	38,865
Cash and cash equivalents, end of year	$ 25,210	$ 31,738

Consolidated Statements of Financial Position - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Current assets
Cash and cash equivalents	$ 25,210	$ 31,738
Prepaids and other	751	842
Current assets	25,961	32,580
Restricted cash	821	571
Exploration and evaluation assets	26,282	20,179
Property, plant and equipment	4,964	3,866
Total assets	58,028	57,196
Current liabilities
Accounts payable and accrued liabilities	7,775	12,839
Current tax liability	568
Lease liability	57	216
Current liabilities	8,400	13,055
Long-term liabilities
Lease liability	420	217
Reclamation provision	4,227	3,765
Loans and borrowings		49,206
Deferred revenue	93,674
Other long-term liability	288	240
Total liabilities	107,009	66,483
Shareholders’ deficit
Common shares	252,408	244,718
Reserves	15,569	20,664
Deficit	(324,810)	(282,583)
Equity attributable to shareholders of the Company	(56,833)	(17,201)
Non-controlling interests	7,852	7,914
Total shareholders’ deficit	(48,981)	(9,287)
Total liabilities and equity	$ 58,028	$ 57,196