Hot Chili

About

Hot Chili explores and develops Chilean copper‑gold assets, focusing on Costa Fuego's La Verde discovery (extensive reverse‑circulation and planned diamond drilling) and the Huasco Water project.

Mission

Hot Chili focuses on exploration and development of copper and gold assets, principally the Costa Fuego and Huasco Water projects in Chile. The company is advancing the La Verde discovery within Costa Fuego, having completed 31 reverse‑circulation holes totaling 9,600 metres that defined copper mineralization greater than 0.2% across an area of roughly 1,000 by 750 metres, open laterally and to depth up to 400 metres. Hot Chili has launched a rights offering to raise US$9.1 million (A$14 million) to strengthen its balance sheet and fund further work. The offer will issue shares at US$0.39 each on a two‑for‑13 basis, with eligible shareholders able to apply for additional shares via a shortfall mechanism. BMO Capital Markets is acting as financial adviser as the company evaluates partnership proposals to accelerate development and potentially secure asset‑level financing for Costa Fuego and Huasco Water. Proceeds will support a second phase of diamond drilling at La Verde intended to underpin an initial resource estimate and further update the company's copper and gold resource base.

Quick Facts