Salazar Resources Hits Fresh Peak as Tungsten Discovery and El Domo Milestone Converge
Published on 09/01/2026 at 00:50 | Editorial boerse-global.de
Investors piled into Salazar Resources on Monday, sending the Canadian explorer's shares to a new 52-week high of €0.3000 — a 25% jump from Friday's close. The Vancouver-based company, which also touched €0.2880 earlier in the session (up 20%), has now extended a rally that has been building since the start of the year.
The surge reflects a confluence of positive developments: a high-grade tungsten and silver discovery at its PijilĂ project in Ecuador, a freshly filed technical report for the flagship Curipamba-El Domo deposit, and growing recognition that the market has been undervaluing the company's core asset.
Tungsten Zone Adds a New Dimension at PijilĂ
Last Wednesday, Salazar reported drill results from the Mercy concession at PijilĂ that caught the market's attention. Hole MERC-011 intersected a 2.00-metre interval grading 1.80% tungsten (equivalent to 2.27% tungsten trioxide), 740 g/t silver and 0.63% copper.
The find broadens the project's appeal beyond its established copper and silver credentials, positioning tungsten as a potential value driver. The results form part of an ongoing exploration campaign aimed at expanding the company's mineralized footprint in Ecuador.
El Domo Technical Report Now Official
The bigger catalyst, however, appears to be the formal submission of an independent NI 43-101 technical report for Curipamba-El Domo on August 13. The document, dated May 31, confirms mineral resources and reserves as of December 31, 2025, and provides the regulatory foundation for the planned copper-gold-silver mine.
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The report underpins a post-tax net present value of US$573 million at an 8% discount rate — a figure first confirmed in mid-July and representing a 121% improvement over the 2021 feasibility study. For Salazar, which holds a 25% stake in the project on a "fully carried interest" basis, the structure means it bears no capital costs for mine construction until production begins, significantly de-risking its exposure. Partner Silvercorp Metals operates the project with a 75% interest.
A Valuation Gap That's Closing
The numbers tell a striking story. Salazar's 25% share of El Domo's NPV translates to roughly US$143 million in attributable project value — yet the company's entire market capitalization has been trading well below that figure. Analysts have noted that the market is only now beginning to price the stake appropriately relative to the company's overall valuation.
That gap has been narrowing as investor sentiment improves, helped by a more favourable regulatory environment in Ecuador. In early July, the government exempted exploration projects from mining supervision and control fees — a reform management welcomed as a boost to its financial flexibility. The company has also identified a copper-gold porphyry mineralization spanning 1.5 by 0.5 kilometres at the Monja area, suggesting upside beyond the core project.
Financial Position Under Scrutiny
The operational progress comes alongside the release of first-quarter results for the fiscal year ending June 30, 2026, published last Thursday. These figures follow a full-year net loss of US$1.21 million for the period ending March 2026.
Auditors flagged going-concern risks in the annual report, citing the absence of regular revenue and reliance on future financing — a familiar situation for exploration-stage companies. The market is now watching the quarterly numbers closely to assess whether the liquidity position can sustain upcoming drill programs.
Export Rules Add a Wrinkle
Not everything is running smoothly. Roughly two weeks ago, Ecuadorian authorities introduced new export controls on mineral shipments to China, adding layers of sampling and verification requirements. The measures initially caused some unease across the sector, though investor confidence in Salazar's specific project quality appears to have outweighed those concerns for now.
With the technical report now on file and reserves formally confirmed, the company is turning its attention to advancing El Domo toward the construction phase. The documentation provides the groundwork for final project planning and potential financing arrangements.
Monday's share price reaction suggests the market sees Salazar Resources as increasingly well-positioned to cement its role as a significant player in Ecuador's mining landscape — with the tungsten discovery at Pijilà adding a fresh narrative to an already compelling story.
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