Hot Chili moves to raise A$40m
ASX- and TSX-V-listed Hot Chili on Monday announced a A$40-million capital raising through a private placement to institutional, professional, and other sophisticated investors.
The placement will issue up to 24.27-million new shares at A$1.65 each, representing a 15% discount to the company’s last closing price and 13.6% discount to the five-day volume-weighted average price prior to the trading halt on Monday.
The raising will occur under Hot Chili’s existing ASX placement capacity and is expected to settle on February 12, subject to approvals.
The capital raising is aimed at supporting several growth initiatives at Hot Chili’s flagship Costa Fuego copper/gold project in Chile, including the accelerated development of the La Verde discovery, for which the company intends to establish a maiden mineral resource.
Proceeds will also fund the definition of a high-grade starter pit at Costa Fuego, progress the feasibility study, complete the environmental-impact assessment, and support development of the Huasco water project.
Hot Chili said the funds would also be used for ongoing exploration, strategic funding initiatives, and general working capital.
“This raising enhances Hot Chili’s strategic funding optionality while ensuring Costa Fuego remains one of the few globally significant copper developments outside major mining companies that could deliver meaningful new supply this decade,” the company said.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Electrifying the world in a safe, smart, and sustainable way, ABB Electrification is a global technology leader in electrical distribution and...
VISIT SHOWROOM
We supply customers with practical affordable solutions for their testing needs. Our products include benchtop, portable, in-line process control...
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
