Salazar Resources [TSXV: SRL] (SRLZF) is a prospect generator active in Ecuador and Columbia. We first initiated a position in SRL in April of this year at C$0.16 per share. Our cost basis is now C$0.17 after subsequent purchases.
The company checks all the boxes for what you look for in a prospect generator - geological expertise in an underexplored region, outsized management ownership, a low burn rate, a healthy working capital position, and multiple partner-funded programs.
The company's most significant asset is a 25% free carried interest to production on Adventus Mining's