SOLSTICE MINERALS LIMITED (SLS)
Share Price Analysis and Chart

07/09/2026

1

Initiation of coverage with Speculative Buy

$3.25

20.37%

Bell Potter initiates coverage of Solstice Minerals with a $3.25 target and Speculative Buy rating.

The 100%-owned Nanadie project is regarded as a large, growing copper-gold system situated on granted mining tenure.

The current inferred resource contains 162kt of copper, while more than 16,000m of drilling has expanded mineralisation to over 700m below surface, the analysts explain.

Tonnage could be a multiple of the current resource, the broker suggests, with scope for grades to improve.

Bell Potter's notional scenario assumes a 13-year, 6Mtpa open pit producing 22ktpa copper plus precious-metal credits and generating an unrisked $916m net present value (NPV). Resource upgrades and studies are also thought to offer re-rating catalysts.

FORECAST
Bell Potter forecasts a full year FY27 dividend of 0.00 cents and EPS of 0.00 cents.
Bell Potter forecasts a full year FY28 dividend of 0.00 cents and EPS of 0.00 cents.

30/09/2026

1

Speculative Buy

$4.05

50.00%

Canaccord Genuity maintains a Speculative Buy rating for Solstice Minerals with a $4.05 target price following the delivery of a strong batch of drilling results from the fully owned Nanadie copper-gold project in Western Australia.

The standout diamond tail intersection returned 169.3 metres at 0.87% copper and 0.29 grams per tonne of gold from 203 metres, successfully extending mineralisation more than 300 metres below the current resource boundary.

Reconnaissance drilling has now extended the overall mineralised system to at least 1.5 kilometres in strike length, while separate resource definition drilling continues to identify shallow, higher-grade zones along the eastern margin of the host gabbro.

The analyst believes these combined results demonstrate emerging scale capable of delivering meaningful tonnage and grade growth well beyond the existing 40.4m-tonne resource base.

Following a recent site visit, the broker increased the conceptual project target size from 140m tonnes to 200m tonnes and continues to view the asset as evolving into a materially larger system.