On-track to become next major ASX-listed copper producer
Hot Chili (ASX : HCH) is one of the top ASX listed copper developers with an advanced Chilean coastal range portfolio and a resource base of 1.5Mt copper and 1Moz gold already established at its Productora project.
The Company is well advanced in its expanded growth strategy which aims to transform Productora by increasing margins and lowering production costs through higher head grade and expanded metal output.
In February 2019 Hot Chili executed an option agreement to acquire a 100% interest in Cortadera- a major, privately-owned, copper-gold porphyry discovery, adjoining the Company’s Productora and El Fuego copper projects, located on the Chilean coastal range.
Hot Chili has also executed agreements to secure majority interest in two neighbouring high grade, substantial underground mines and the surrounding prospective landholding- collectively named El Fuego (San Antonio and Valentina).
Addition of the Cortadera copper porphyry project and the El Fuego high grade copper project enables the Company to achieve its expanded growth strategy, unlocking both scale and grade.
In May 2019 the Company embarked on a maiden drilling campaign at Cortadera which delivered stunning results, which have transformed the Company’s view on Cortadera and opened up large possibilities, with the project having the potential to be a company-maker in its own right.