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Base Metals Energy Hotchili Junior Mining

Hot Chili | Preliminary IPO Prospectus Lodged for TSXV Listing Application

Hot Chili Limited (ASX: HCH) (OTCQB: HHLKF) (“Hot Chili” or the “Company”) is pleased to announce the launch of a Canadian secondary market Initial Public Offering (IPO), following lodgement of a preliminary prospectus with the Securities Commissions in the Provinces of Canada, other than Quebec.

The preliminary prospectus and associated IPO are key steps in Hot Chili’s application to dual list the Company on the TSX Venture Exchange (TSXV) and fund an ambitious phase of growth and development ahead of the Company’s transition into a future copper producer.

The preliminary prospectus contains an offering of new ordinary shares (Share or Shares) of the Company to raise funds from institutional investors in Canada, the USA and other jurisdictions outside of Australia (Offering). iA Capital Markets and Cormark Securities Inc. are acting as co-lead underwriters for the Offering (Underwriters).

The offering price and size will be determined between the Company and the Underwriters in the context of the market following shareholder resolution of a proposed fifty (50) to one (1) consolidation (Consolidation) at the Company’s General Meeting scheduled for November 15, 2021.

The proposed Consolidation will reduce the number of ordinary shares currently on issue from approximately 4.4 billion to 87.5 million and provide a more effective capital structure of the Company, and a more appropriate share price for a wider range of investors, particularly institutional investors.

If the Consolidation is approved, the ordinary shares of the Company would begin trading on the ASX on a post-consolidation basis on November 17, 2021, with pricing of the IPO to be determined after that point.

Net proceeds from the IPO are proposed to be used to upgrade the Cortadera Resource, advance the Costa Fuego Preliminary Feasibility Study (PFS), test several high-priority exploration targets and for general corporate purposes.

As previously announced, the Company intends to submit an application to list its Shares on the TSXV and has reserved the symbol “HCH”.

Listing will be subject to the Company fulfilling all of the initial listing requirements and conditions of the TSXV, and there is no assurance such a listing will be obtained.  Closing of the IPO (Closing) is conditional upon the Shares from the IPO being approved for listing on the TSXV.

To access the announcement please click on the link below.:

Download full announcement here

Cortadera Copper Project

Cortadera’s maiden Mineral Resource positions Hot Chili with the largest copper Mineral Resource and one of the largest gold Mineral Resources for an ASX-listed emerging company. 

The Cortadera maiden Mineral Resource of 451Mt at 0.46% copper equivalent (CuEq) takes the total Mineral Resource estimate for Costa Fuego (Cortadera, Productora & El Fuego) to 724Mt at 0.48% CuEq for 2.9Mt copper, 2.7Moz gold, 9.9Moz Silver and 64kt molybdenum. Cortadera also contains a higher grade component of 104Mt at 0.74% CuEq, and this has strong potential to continue growing rapidly with further drilling.

View the Cortadera Project

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Base Metals Energy Hotchili

Cortadera’s North Flank Delivers Again – 610m at 0.5% CuEq

Hot Chili Limited (ASX: HCH) (OTCQB: HHLKF) (“Hot Chili” or “Company”) is pleased to announce that recent drill results from its Cortadera copper-gold discovery in Chile continue to demonstrate strong resource growth.

Hot Chili’s Resource Development Manager Kirsty Sheerin said the expansion of the main porphyry was very pleasing ahead of the Company’s plans to up-grade the maiden 451Mt Cortadera resource.

“We have added approximately 170m of width to Cuerpo 3 and hope to extend several other open flanks to the high grade core by year-end.

“The next resource upgrade at Cortadera will provide a strong basis for the first combined open pit and block cave mining reserve estimate at our growing Costa Fuego copper-gold development.”

Highlights:

  • Hot Chili has recorded another strong extensional result at the Cortadera copper-gold porphyry discovery in Chile, further expanding the high grade resource (+0.7% CuEq) across the northern flank (North Flank) of the main porphyry (Cuerpo 3)
  • CRP0134D returned an extensive intersection of 610m grading 0.5% CuEq (0.4% copper (Cu), 0.1g/t gold (Au)) from 216m depth down-hole, including 138m grading 0.8% CuEq (0.6% Cu, 0.1g/t Au) from 634m depth
  • Results from CRP0134D and those recently reported from CRP0124D (362m grading 0.6% CuEq, including 82m grading 1.0% CuEq) have extended the North Flank by approximately 170m
  • The Northern Flank of Cuerpo 3 remains open with another 80m step-out diamond drill hole underway (CRP0155D, currently at 490m depth and in mineralisation)
  • Results pending for five drill holes from Cuerpo 2 which have visually recorded wide intersections of mineralisation from surface
  • Three drill rigs in operation, 4,946m of assay results pending from 20 drill holes, assay turnaround currently 44 days

To access the announcement please click on the link below.


Download full announcement here

Cortadera Copper Project

Cortadera’s maiden Mineral Resource positions Hot Chili with the largest copper Mineral Resource and one of the largest gold Mineral Resources for an ASX-listed emerging company. 

The Cortadera maiden Mineral Resource of 451Mt at 0.46% copper equivalent (CuEq) takes the total Mineral Resource estimate for Costa Fuego (Cortadera, Productora & El Fuego) to 724Mt at 0.48% CuEq for 2.9Mt copper, 2.7Moz gold, 9.9Moz Silver and 64kt molybdenum. Cortadera also contains a higher grade component of 104Mt at 0.74% CuEq, and this has strong potential to continue growing rapidly with further drilling.

View the Cortadera Project

Hot Chili Limited
Head Office (Perth)
First Floor, 768 Canning Highway,
Applecross, Western Australia 6153

P: 08 9315 9009

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Base Metals Energy Hotchili Junior Mining Uncategorized

Costa Fuego Lifts Growth Horizon

Hot Chili Limited (ASX: HCH) (OTCQB: HHLKF) (“Hot Chili” or “Company”) is pleased to announce that it is preparing to commence drilling a series of large-scale exploration targets in parallel with resource expansion drilling at its Costa Fuego copper-gold development hub in Chile.

Highlights

Advanced Three-Dimensional (3D) Geochemical targeting,using multielement surface geochemical data, has been applied for the first time across Hot Chili’s consolidated Costa Fuego copper-gold development hub in Chile
The 3D geochemical approach generated probability models which accurately mirrored existing copper resource models at both Cortadera and Productora
Two, large-scale, 3D geochemical targets have been identified as high probability for immediate drill testing– Productora Central and Santiago Z – both considered potential game changers for Costa Fuego’s growing resource base
Both new 3D geochemical targets are larger in size than the main porphyry (Cuerpo 3) at the Company’s Cortadera copper-gold discovery, where three drill rigs are currently operating to upgrade its maiden 451Mt resource
A fourth drill rig is being secured to commence exploration drilling at Productora Central in Q4 this year and regulatory approval for drilling at Santiago Z is expected in December.
Next assay results from resource expansion drilling at Cortadera expected shortly
To access the announcement please click on the link below.

Download full announcement here

Logging core at Cortadera
View looking SE across Productora – New, large 3D geochemical target set to be drilled in Q4 this year

Cortadera Copper Project
Cortadera’s maiden Mineral Resource positions Hot Chili with the largest copper Mineral Resource and one of the largest gold Mineral Resources for an ASX-listed emerging company.

The Cortadera maiden Mineral Resource of 451Mt at 0.46% copper equivalent (CuEq) takes the total Mineral Resource estimate for Costa Fuego (Cortadera, Productora & El Fuego) to 724Mt at 0.48% CuEq for 2.9Mt copper, 2.7Moz gold, 9.9Moz Silver and 64kt molybdenum. Cortadera also contains a higher grade component of 104Mt at 0.74% CuEq, and this has strong potential to continue growing rapidly with further drilling.

View the Cortadera Project

Hot Chili Limited
Head Office (Perth)
First Floor, 768 Canning Highway,
Applecross, Western Australia 6153

P: 08 9315 9009

Categories
Base Metals Breaking Energy Hotchili Junior Mining Uncategorized

Successful $5 Million SPP to Close Early

Hot Chili Limited (ASX: HCH) (OTCQB: HHLKF) (“Hot Chili” or “Company”) advises due to overwhelming support of the Company’s Share Purchase Plan (SPP) it has decided to close the SPP at 5.00pm today Thursday, 26 August 2021.  The Company will apply the scale-back conditions accordingly as per the terms set out in the SPP prospectus dated 13 August 2021.

Applications for over $5 million have been received from eligible shareholders under the SPP.

Mr Christian Easterday, Managing Director of Hot Chili, said 

“The Board of Hot Chili would like to thank all shareholders for participating in the SPP, which was oversubscribed in five days.

We look forward to delivering on our copper-gold resource growth pipeline in Chile to build long term shareholder value as we transition Hot Chili into a premier global copper developer”.

To access the announcement please click on the link below.


Download full announcement here

Cortadera Copper Project

Cortadera’s maiden Mineral Resource positions Hot Chili with the largest copper Mineral Resource and one of the largest gold Mineral Resources for an ASX-listed emerging company. 

The Cortadera maiden Mineral Resource of 451Mt at 0.46% copper equivalent (CuEq) takes the total Mineral Resource estimate for Costa Fuego (Cortadera, Productora & El Fuego) to 724Mt at 0.48% CuEq for 2.9Mt copper, 2.7Moz gold, 9.9Moz Silver and 64kt molybdenum. Cortadera also contains a higher grade component of 104Mt at 0.74% CuEq, and this has strong potential to continue growing rapidly with further drilling.

View the Cortadera Project


Hot Chili Limited
Head Office (Perth)
First Floor, 768 Canning Highway,
Applecross, Western Australia 6153

P: 08 9315 9009