Daniel Earle

Global macro, commodities, equities. Solaris $SLS.to $SLSSF 'Copper Growth and Discovery'

[Daniel Earle @DanielEarle3]

This is a shot of David Lowell and I from December, taken soon after I had joined Solaris. When I offered to pick him up at his house that morning, he said don’t bother, he was taking an Uber!

[Daniel Earle @DanielEarle3]

Solaris $SLS.TO $SLSSF Final Holes Pre-Resource

NE Extension:
SLS-54 356m of 0.73% from 50m (1,093m of 0.56% from surface)

Follow-up holes ongoing, 260m step-out platform completed plus next step under construction

[Solaris Resources Inc. @SolarisResource]

NEW #Warintza Central holes

Add to near surface, high-grade NE and SE extensions on edge of resource, remain open

Priorities for further growth beyond resource, f/u and step-out drilling underway

Updated resource expected soon

#Copper $SLS.TO $SLSSF https://t.co/DZ5SiNkkQA

[Daniel Earle @DanielEarle3]

Jeff Currie of GS underlines point on physical market dominance:

#Copper stocks still at lows dating back to 2008 AFTER period of typical build despite macro narratives

No buffer built to accommodate shocks -> clear potential for $5.40 Cu over next 1-2 mo on supply hit

[Daniel Earle @DanielEarle3]

TD on metals trading paradox:

"Shanghai traders send a strong message that supply disruptions still outweigh demand risk... taking advantage of recent dip to substantially increase longs"

China knows inventories low, supply tight, policy lift inbound!

#copper #nickel

[Daniel Earle @DanielEarle3]

TD on metals trading paradox:

"Shanghai traders send a strong message that supply disruptions still outweigh demand risk... taking advantage of recent dip to substantially increase longs"

China knows inventories low, supply tight, policy lift inbound!

#copper #nickel

[Daniel Earle @DanielEarle3]

Low-cost renewable power solution

Structural advantage
Scale, efficiency
Low emissions

-> future of mining economy
-> future of Warintza

Solaris $SLS.TO $SLSSF

[Solaris Resources Inc. @SolarisResource]

$SLS.TO and CELEC @CELECEPOficial announce MOU to supply low-cost, emission-free hydroelectric power to #Warintza

Locally sourced with goal of providing primary power

Further studies to maximize potential for #electrified operations

@guquillas $SLSSF https://t.co/RafqLGxUfU

[Daniel Earle @DanielEarle3]

MAC to buy CSA from Glencore for $1.1b

5th #copper M&A transaction this cycle:
MATSA $1.9b
Sierra (45%) $1.6b
Jose $0.5b
TRQ $2.7b
CSA $1.1b

Last cycle - 35 transactions

This cycle requires >100 to solve 2x supply deficit and already setting records for prices

$SLS.to $SLSSF

[Daniel Earle @DanielEarle3]

Resource strength = geopolitical strength:

"Australia announced A$500m in funding to boost output of critical minerals, aiming to diversify supply for allies"

-> Key for rare earths as miners can fund mines but impossible to fund downstream processing

https://t.co/EZHXRrqTzt

[Daniel Earle @DanielEarle3]

The Case for Investing in Nuclear Power:

-> #Uranium going mainstream
-> Explosive move coming with $SPUT US listing?

https://t.co/bvlQOmf2J8

[Dr. Sunny @SunnyL978]

#copper surges above $5.00/lb. Where do we get more #copper? 🧐
The #Warintza project of $SLS.TO can be part of the answer.🚀🚀🚀
@SolarisResource @DanielEarle3

[Daniel Earle @DanielEarle3]

Sunday listening - Pozsar on #RussiaUkraine sanctions:

Reduced liquidity
Greater gov't spending
Higher inflation
Seizure of CB fiat #currency reserves

-> Cont'd rotation to #commodities
-> Re-emergence of #gold reserves
-> Turning point for #USD?

https://t.co/S7FbeMJwQW

[Daniel Earle @DanielEarle3]

Russia metal supply fears focus on #aluminum #nickel #palladium, #copper to play catch up? New highs coming soon?

Russia only ~4% of global production, however, T-3rd largest global exporter with Australia

Source: Macquarie

[Daniel Earle @DanielEarle3]

Russian supply fears already lifting markets for nat gas, ferts, wheat, #aluminum, #nickel - direct impacts to supply below from @SoberLook

Second order impacts - think summer European energy crisis, smelter shutdowns, stockpiling

#zinc to new highs? #copper?

[Daniel Earle @DanielEarle3]

Solaris $SLS.to $SLSSF

Latest drilling returns highest grades reported to date, near surface in near NE extension that remains open

SLS-48 - 100m of 1.64% CuEq from 50m depth w/in 852m of 0.56% CuEq

Near surface, high grade open to N and NE

Starter pit anyone?

[Daniel Earle @DanielEarle3]

And platinum group metals! #palladium >40% from Russia, #platinum, #rhodium, etc.

[Daniel Earle @DanielEarle3]

Russian supply fears already lifting markets for nat gas, ferts, wheat, #aluminum, #nickel - direct impacts to supply below from @SoberLook

Second order impacts - think summer European energy crisis, smelter shutdowns, stockpiling

#zinc to new highs? #copper?

[Daniel Earle @DanielEarle3]

@CopperNew @SolarisResource ...amid what was expected to be a period of seasonal weakness in Q1 with Lunar New Year and Olympics shutdowns hitting demand. There simply isn't enough copper

[Daniel Earle @DanielEarle3]

Core of the #metals story is #decarbonization

This decade, $16 trillion of green investment
= China growth in 2000s

Next decade, two more Chinas!

#Copper key to decarbonization, electrification
-> most important commodity strategically

Where's it coming from? $SLS.to $SLSSF

[Daniel Earle @DanielEarle3]

Jeff Currie, Goldman Sachs, continued thought leadership on super cycle

Of 27 #commodities covered, every single one:

in deficit
inventories low, declining to critical levels
steep "super" backwardation

-> tight markets, expect spikes

[Ronald Stewart @RonaldS_AuCu]

Looking forward to presenting the #HighlanderSilver $HSLV story on the #SoarFinancial online event this Wed, Feb 15 @ 10am EST. See you there

[Daniel Earle @DanielEarle3]

@evrytingisawsum Just wait, we are about to enter a period of seasonal draws that exceed visible inventories across exchanges. Where is the copper coming from?

[Daniel Earle @DanielEarle3]

@JaseCutler Weather, covid, equipment, safety, shipping, etc.

[Daniel Earle @DanielEarle3]

$VALE

2021 #copper prod comes in at 297 kt,
down 63 kt from year prior

-> Below revised guidance of 360-380 kt
-> Far below original guidance of 390 kt

Supply underperformance across industry is a return to normal

Wider deficits, tighter market is story of 2022