Hot Chili (HCH) - Resource Update Projects Top 6 Copper Company
Matthew Gordon, Ptolemy Capital
7 Days ago
Chasing copper and gold in Chile. They have announced a large resource projecting them in to the top 10 copper explorers in the world. They will need to raise capital and suspect this may be complete by the end of the year, suggesting that the number they will be looking c$20M. Grades are good at around 0.48% which is good. No idea yet about economics obviously and the focus for 2021 will be drilling c.15,000m of diamond drilling and the same again in RC drilling. They do however have a payment due to a shareholder of $10M mid 2021 so will need to assess how they pay that given that payment date had already been extended. They have made themselves more attractive to developers and producers as this is not a team who will be building a mine. Once the company starts to look at the economics the market will react. What we can say is that timing now seems to be on their side having taken a long time to get to this point. Looking forward to seeing more of the drill results and advancement of this project.
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