Christian Easterday

Existing Hot Chili shareholders, Taurus Funds Management and Kalgoorlie mining identity, Murray Black, have corner-stoned a $12m capital raise for Hot Chili that has also attracted a number of institutional heavyweights out of North America and Australia. The funds will see the Perth based, ASX-listed company turbocharge its efforts to commercialise the Cortadera porphyry copper-gold project in Chile.

Hot Chili has extended the thick, high-grade copper-gold core of mineralisation at its Cuerpo 3 deposit at the Cortadera porphyry discovery in Chile with a massive, 350 metre intersection grading 0.6% copper and 0.2g/t gold. The company recently completed a $12.1 million capital raise to help it develop what it says is one of the South American country’s most significant copper-gold porphyry finds of the past decade.

Hot Chili’s latest drilling at the rapidly emerging Cuerpo 3 deposit of its Cortadera porphyry discovery in Chile has extended the thick, copper-gold core of mineralisation by a further 246m, returning a stunning 596 metres grading 0.5% copper and 0.2g/t gold from 328m down-hole. This hole also contains a higher-grade intersection from 430m, that produced 184m @ 0.7% copper and 0.3g/t gold, with significant silver and molybdenum credits.

Hot Chili’s drilling at the Cuerpo 3 deposit within its Cortadera porphyry discovery in Chile has hit a 264m long, near-surface intercept of copper and gold mineralisation from just 52m down-hole, opening up the potential for future open-pit extraction. Another hole 250m to the southwest recorded a strongly mineralised porphyry system from surface to at least 313m depth, confirming the zone is also situated in shallow up-dip positions.

Hot Chili has the West Perth mining glitterati and their followers on St Georges Terrace all abuzz with news of its nearly 1km long mineralised drill hole at its Cortadera project in Chile. The latest drill result may well rank up there with some of the all-time remarkable drill intercepts and is most likely the best hit anywhere in Australia and possibly even around the globe for 2019.

Hot Chili is on fire at its Cortadera project in Chile, finishing off the year in style with a suite of impressive copper and gold hits for the second time in as many weeks. The Cupero 2 prospect has again delivered, with an 80m drill hit going 0.8% copper, 0.3g/t gold and 3.8g/t silver, right from surface. This includes 26m @ 1.7% copper and 0.7g/t gold from 54 metres depth.

Hot Chili is on track to deliver some exceptional drill intersections at its rapidly growing Cortadera porphyry copper-gold discovery in Chile with its first expansion diamond drill hole for 2020 still in mineralisation at 900m with 550m of mineralised porphyry already in the bag from the 350m mark. The company said it would extend the hole that is a 100m step-out from the largest porphyry to around 1,100m.

Hot Chili has transformed the Cortadera copper-gold deposit, one of Chile’s best kept secrets, into a company maker and it has now bought itself another 12 months to pay for it as the company continues to drill it out and get a handle on just how big Cortadera might be. The deal removes the need to raise money during the Coronavirus calamity, which has also caused the US dollar to tank.

Despite the current Coronavirus inspired market challenges, ASX-listed Hot Chili has encountered no difficulty in completing a $5m placement to sophisticated and institutional investors to progress its burgeoning Cortadera copper-gold discovery in Chile. Existing shareholders will also get a piece of the action with an additional $3.9m expected to come in from a non-renounceable rights issue.

Hot Chili is now a copper and gold producer and whilst it has spent a lot of time, money and effort proving up its Chilean projects, it spent nothing on CAPEX to start mining. Spurred on by fabulous copper and gold prices, Hot Chili has hit a big milestone with the start of mining at Productora four months ahead of schedule.

Hot Chili has tabled some positive test work from its three copper deposits in in Chile, delivering a common processing route and potentially a high-value product. Metallurgical test work on sulphide samples from the Cortadera, Productora and San Antonio copper deposits confirms the selected processing flowsheet should see over 89 per cent of the contained copper recovered.

As Hot Chili gets closer to delivering a maiden resource estimate for its Cortadera copper-gold project in Chile, new diamond drilling has continued to expand the exciting porphyry discovery. Wide assays from the first two drill holes in phase three of the drilling campaign confirm the high-grade core within the largest porphyry at Cortadera, known as Cuerpo 3, where the mineralisation continues 800m down-hole.

ASX-listed Hot Chili may be onto another significant discovery – at the Cortadera North target zone – which could even be a twin to its Cortadera copper-gold porphyry system. The potential for a new “look-alike” discovery about 2km north of Cortadera, which shows a geochemical footprint of 2km in length, comes just weeks ahead of the company’s plans to announce a maiden resource estimate for the Chilean project.

Hot Chili has unveiled a massive new resource for its Costa Fuego project in Chile, with the company’s inventory in South America skyrocketing to a headline-grabbing 724 million tonnes at 0.48 per cent copper equivalent. The global resource now hosts an incredible 2.9 million tonnes of copper, 2.7 million ounces of gold and 9.9 million ounces of silver. These numbers are set to grow even further in the coming months as drilling continues across the fertile copper terrane.

Hot Chili has shaken the tin and come away an impressive $25.6 million, completing a placement to fund an accelerated development program in Chile and maintain its wholly owned position in the massive Costa Fuego project. The company will use the proceeds of the raising to fund the second US$10 million instalment payment for the purchase of Cortadera and to accelerate its drilling across the project area.

ASX-listed aspiring Chile copper developer, Hot Chili, has been granted crucial water extraction rights for its overarching Costa Fuego porphyry copper-gold project located about 600km north of the country’s capital, Santiago. The company says the maritime concession, which was granted following an exhaustive seven-year application process, represents a critical infrastructure requirement for Costa Fuego by securing sufficient water supply to support a large-scale copper-gold operation.

Hot Chili is set to spice up its production profile in Chile after putting in place an agreement to ramp up the processing of copper ores from its Productora deposit at the nearby Vallenar mill. The agreement will see the company lift production from its underground mining operations at the high-grade deposit to 180,000 tonnes per annum, a 50 per cent increase on the current mining rate.

Hot Chili’s ongoing drilling program has identified a second high-grade copper-gold core to its Cortadera porphyry in southern Chile. The latest results from the discovery include an extensive 248m intercept grading 0.4 per cent copper and 0.1 grams per tonne gold, hosting 32m at 0.6 per cent copper and 0.3 grams per tonne gold, from 446 metres down-hole.

Hot Chili’s recently commenced 40,000-metre drilling campaign across its Costa Fuego project in northern Chile has posted an uber-impressive 382 metre copper intercept at its Cortadera porphyry deposit, which includes 80m at 0.6 per cent copper and 0.2 grams per tonne gold from 524m down-hole. The company already has two rigs running 24-7 and is set to add a third in the coming weeks.

Hot Chili is poised to take full ownership of the immense Costa Fuego project in northern Chile, following the early payment of an additional US$10 million to the vendors of the Cortadera discovery, SCM Carola. The company has delivered a total of US$17 million to the private Chilean group, with a final payment of US$15 million now due on or before the middle of July 2022.

Hot Chili expects a VAT tax refund payment of up to $4 million this year against all expenditure associated with its Cortadera copper-gold discovery, the centrepiece of its overarching Costa Fuego porphyry copper-gold project in Chile. Hot Chili says the VAT refund was given the nod by the Chilean Government and the tax refunds will shore up the company’s cash position as it gradually moves to full ownership of Cortadera.

ASX-listed Chilean copper player, Hot Chili has fired up a third drill rig to accelerate its recently commenced 40,000-metre follow-up diamond and RC drilling program at its massive Cortadera copper-gold discovery. Cortadera forms part of the Perth-based company’s proposed Costa Fuego porphyry copper-gold super hub project development in Chile about 600 kilometres north of the country’s capital, Santiago.

ASX-listed Chilean focused copper hopeful, Hot Chili has unearthed yet another spectacularly long copper mineralised drill hit at its giant Cortadera copper-gold porphyry discovery in Chile. Latest results from the company’s 40,000m follow-up drilling campaign at Cortadera were headlined by an eye-catching 813m intercept grading an average 0.4 per cent copper and 0.1 g/t gold from just 54m depth.

Things are starting to get spicy for Hot Chili in its copper hunt in South America. Already boasting a 724 million tonne resource grading 0.48 per cent copper equivalent across its Costa Fuego suite of tenements in Chile, the company has defined what appears to be a second large porphyry copper system at the newly acquired Santiago Z tenure.

Hot Chili is on a roll now at its colossal Cortadera copper-gold discovery in Chile where the company says a resource upgrade is looming after it hit a 185m intersection going 0.5 per cent copper and 0.2 grams per tonne gold from 568m down-hole at the project. Another 550m long intersection that Hot Chili says is shows copper-gold mineralisation but has yet to be assayed.

Six years ago Hot Chili won the prestigious Emerging Company Award at Diggers & Dealers in Kalgoorlie and it has since shown its grit by accumulating a huge copper-gold-silver-molybdenum inventory at its Cortadera project in Chile, where a massive new deep target has now been outlined.

Hot Chili is looking to ramp up copper production from its emerging Costa Fuego hub in northern Chile as the red metal trades at close to US$10,000 per tonne. The company is already pushing out copper from high-grade lodes at its Productora mine and is now casting an eye over the Cortadera porphyries as it contemplates a larger-scale operation.

Hot Chili has dished up a bumper-grade 144m intercept at 1 per cent copper-equivalent as it looks to grow the resource at the Cortadera deposit within its broader Costa Fuego copper hub in northern Chile. The company is eyeing a pre-feasibility study to fast-track Costa Fuego to production with the high-grade core at Cortadera to play a key part.

Hot Chili has launched feasibility over the company’s immense Costa Fuego copper-gold project in northern Chile, appointing expert engineers Wood to oversee a PFS over the greater Costa Fuego project area. The study will use the 2016 Productora pre-feasibility study to expedite a larger PFS over the project, which hosts more than 724 million tonnes in copper and gold resources.

ASX-listed Hot Chili has applied to dual list on the Toronto Stock Exchange as it steps up its funding and development plans for the proposed large-scale Costa Fuego copper-gold project in Chile. The Canadian share market has a proven track record of supporting world-class exploration and development companies in the copper space with a number of recent transformative dual listings.

Nine years ago, Hot Chili won the prestigious Emerging Company Award at Diggers & Dealers in Kalgoorlie and this week the company is presenting there again as one of only two companies worldwide to make a major copper discovery since 2016 which has now attracted the interest of mega resource house Glencore. Hot Chili’s rival in the major copper discovery space is Rio Tinto’s Winu discovery in WA.

Hot on the heels of this week’s earlier announcement that Glencore has agreed to pump A$14.4m into Hot Chili in return for a 9.99 per cent equity stake, Hot Chili has surprised the market with further news that it plans to raise $40 million to move to full ownership of its massive Cortadera copper-gold deposit. Hot Chili stock soared immediately by almost 20 per cent on the news.

Hot Chili’s exploration success continues with more high-grade copper-gold intercepts across the northern flank of its Cortadera deposit in Chile. The new intercepts have effectively increased the width of the main porphyry, Cuerpo 3, by approximately 100m, demonstrating a strong continuity of high-grade mineralisation.

Hot Chili has wrapped up a deal to acquire 100 per cent interest in the company’s world-class Cortadera copper-gold discovery in Chile. Hot Chili and the original project owner, SCM Carola, have now consummated to transfer 100 per cent ownership in the project to Hot Chili after the final instalment of US$15 million was paid by Hot Chili to SCM.

ASX-listed Hot Chili’s pre-feasibility study into its 100 per cent owned Costa Fuego copper-gold development in Chile is gaining momentum. A materials-handling scoping study has revealed significant time and cost savings when implementing a “rope conveyor” to transport ore downhill from Cortadera to Productora. A similar haulage system has been successfully employed at Teck and Newmont Goldcorp’s NuevaUnión project, 100km east-northeast of Costa Fuego.

ASX-listed copper developer, Hot Chili has secured funding to the tune of C$30 million from major institutional investors and existing shareholders. The funds will underwrite 18-months of drilling and development works at its multi-deposit Costa Fuego copper-gold porphyry project in Chile. The company is also preparing to list on the Toronto Stock Exchange, which will then see its shares traded in both Australia and Canada.

Hot Chili, which took 100 per cent ownership of Cortadera last year - one of the two largest global copper discoveries since 2016 - has completed its journey to becoming a dual-listed company after its shares commenced trading on the Canadian TSXV this week. The C$30 million raised will underwrite 18-months of drilling and development works at its multi-deposit Costa Fuego copper-gold porphyry project in Chile.

Copper developer Hot Chili continues to pump out some stellar drill results from its Cortadera copper-gold porphyry deposit in Chile as the company expands the shallow resources at its Cuerpo 1 and Cuerpo 2 deposits. Recent assay results include a massive 156 metre hit grading 0.4 per cent copper equivalent from surface that corresponds to 0.4 per cent copper and 0.1 grams per tonne gold.

ASX-listed copper developer Hot Chili has entered into negotiations for a port access and services deal at the Chilean port of Huasco. The company said it has begun the process of securing the final critical item of infrastructure for the development of its massive Costa Fuego copper project, one of the world’s largest copper discoveries.

ASX-listed copper explorer Hot Chili has wrapped up drilling at its Cortadera copper-gold porphyry discovery ahead of an imminent resource upgrade for its fast-tracked Chilean project. The company is confident all three of the Cuerpos orebodies are linked to the same footprint. It says the significant extent of the porphyry mineralisation gives it versatile low grade, low-strip ratio sulphide mining options.