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Hot Chili Limited ( (AU:HCH) ) just unveiled an announcement.
Hot Chili Limited has secured A$40 million in a private placement, drawing strong support from Australian, Canadian and overseas institutional investors as well as its three largest shareholders, to accelerate growth and development of its Costa Fuego copper-gold project in Chile. The funding underpins key milestones including a maiden Mineral Resource for the La Verde discovery, its integration into an expanded mine plan, submission of an Environmental Impact Assessment and continuation of feasibility studies, for which global engineering firm Ausenco has been appointed.
Drilling at La Verde ramped up with a second rig, delivering the widest intercept to date and confirming major extensions to the high-grade core, while a series of shallow, higher-grade copper-gold intersections outline a potential higher-grade starter pit from surface to 250 metres depth. With assays pending for 13 holes and a strong cash position of A$35.2 million, the company is positioned to advance resource growth, de-risk project development and potentially enhance early project economics at Costa Fuego.
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 coastal Chile. Its flagship Costa Fuego project targets long-life, bulk-tonnage copper-gold production, attracting backing from major institutional investors and strategic shareholders including Glencore, Blue Spec and GS Group.
Average Trading Volume: 658,010
Technical Sentiment Signal: Buy
Current Market Cap: A$310.3M
For a thorough assessment of HCH stock, go to TipRanks’ Stock Analysis page.