Hot Chili Launches A$40 Million Private Placement to Accelerate Costa Fuego Development

Hot Chili Limited ( (AU:HCH) ) has provided an update.

Hot Chili Limited has launched a private placement to raise up to approximately A$40 million through the issue of up to 24.27 million new shares to institutional, professional and other investors in Australia, Canada and certain other jurisdictions. Priced at A$1.65 per share, representing a discount to recent trading levels, the offering is intended to increase liquidity on the TSX Venture Exchange and preserve strategic funding flexibility while financing accelerated work on the La Verde copper-gold discovery, advancing a maiden resource and high-grade starter pit potential at Costa Fuego, progressing the Costa Fuego Feasibility Study and Environmental Impact Assessment, developing the Huasco Water Project, and supporting ongoing exploration and working capital needs. The placement, led by Veritas Securities, Cormark Securities, Desjardins Capital Markets and co-managed by BMO Capital Markets, is subject to TSXV approval, with the company’s shares remaining in a trading halt until the placement outcome is announced.

The most recent analyst rating on (AU:HCH) stock is a Hold with a A$2.00 price target. To see the full list of analyst forecasts on Hot Chili Limited stock, see the AU:HCH Stock Forecast page.

More about Hot Chili Limited

Hot Chili Limited is an Australia-based mineral exploration and development company focused on large-scale copper-gold projects in Chile. Its flagship asset is the Costa Fuego copper-gold project, which the company is positioning as one of the few globally significant copper developments not controlled by a major mining house, with additional work advancing associated infrastructure such as the Huasco Water Project.

YTD Price Performance: 39.57%

Average Trading Volume: 525,305

Technical Sentiment Signal: Buy

Current Market Cap: A$344.5M

For an in-depth examination of HCH stock, go to TipRanks’ Overview page.