Hot Chili Ltd Stock Price, News & Analysis

Hot Chili (OTCQX: HHLKF) received regulatory approval on Oct 9, 2025 to expand drill coverage at the La Verde Cu-Au discovery, ~30km south of the Costa Fuego central processing hub in Chile.

Phase two diamond drilling began on 22 Sep 2025 (single rig, double shift); two of an eleven-hole program are complete with visual porphyry-style Cu mineralisation observed and assays pending. The La Verde footprint measures 1,000m x 750m and extends up to 400m vertical depth. A second RC rig is planned to accelerate drilling and test lateral, along-strike, and district-scale porphyry cluster potential. Conceptual open-pit shells used Cu prices of US$3.50 and US$6.00.

Hot Chili Limited (OTCQX: HHLKF) has initiated diamond drilling at its La Verde copper-gold discovery in Chile's Atacama region, located 30km south of the Costa Fuego Project's planned processing hub. The phase-two drilling program, which commenced on September 22, 2025, follows successful initial reverse circulation drilling that confirmed a significant discovery footprint measuring 1,000m by 750m with +0.2% Cu mineralization extending to 400m depth.

The drilling aims to expand three identified high-grade centers, with previous drilling ending in mineralization. Impact modeling suggests potential for additional open pit material to enhance the Costa Fuego's 20-year mine schedule. Regulatory approvals for further drill access are in final stages, which will enable testing of lateral extensions and nearby targets.

Hot Chili Limited (OTCQX: HHLKF) has successfully completed its fully subscribed entitlement offer, raising A$14.1 million before costs. The pro-rata non-renounceable offer consisted of 2 new shares for every 13 shares held, priced at A$0.60 per share, with strong demand from Australian, Canadian, and international shareholders.

The funds will support key developments at the Costa Fuego copper-gold project in Chile, including completion of the company's asset-level strategic partnering process and commencement of phase-two diamond drilling at the La Verde copper-gold discovery. A total of 23,648,329 New Shares were accepted under the Entitlement Offer and shortfall facility, with new shares to be issued on September 9, 2025.

Hot Chili (OTC:HHLKF) has reported significant progress in its Q2 2025 operations, highlighted by the expansion of its La Verde copper-gold porphyry discovery. Phase-one drilling results confirmed mineralization extending over 1 km in length and 750m in width, with notable intercepts including 389m grading 0.4% Cu and 0.1 g/t Au. The company identified three higher-grade centers and potential for a district-scale porphyry cluster.

Strategic developments include the appointment of Stuart Mathews as Non-Executive Chair and Alberto Cerda as Project Director. The Costa Fuego Copper-Gold Project and Huasco Water Project have been registered for priority status by the Chilean Ministry of Economy. The company maintains a strong financial position with A$5.2M in cash and expects A$2.0M in VAT reimbursements.

Hot Chili Limited (HHLKF) has identified potential for a district-scale porphyry cluster near its La Verde copper-gold discovery in Chile. The company has detected three priority porphyry targets through recent geochemical and geophysical work, with two targets concealed under shallow gravel cover. The targets were identified using 3D magnetic inversion modeling and 3D geochemical probability modeling, showing similarities to the existing La Verde discovery which has a footprint of 1,000m by 750m. One target area, located 1km northeast of La Verde, is particularly promising due to overlapping geochemical and geophysical indicators. The company plans to expand its Phase-two La Verde drill program, with regulatory approval for drill pads expected by September 2025.

Hot Chili Limited (HHLKF) has reported significant expansion in its La Verde copper-gold discovery in Chile. The latest phase-one drilling results have doubled the discovery footprint to 1,000m by 750m, extending up to 400m vertical depth. Key findings include multiple higher-grade centers with notable intersections such as 389m grading 0.4% Cu and 0.1 g/t Au from 4m depth. The discovery, located 30km south of the Company's Costa Fuego Cu-Au Project, remains open laterally and at depth. Three distinct higher-grade centres have been identified: North-East, South-East, and South-West, with all zones remaining open for expansion. The Company is advancing regulatory applications for phase-two drilling, which will include both RC and diamond drilling to extend higher-grade centres at depth.

Hot Chili Ltd. (HHLKF) has filed an independent technical report on SEDAR+ for its Costa Fuego copper-gold project in Chile. The NI 43-101 compliant Technical Report, dated May 9, 2025, with an effective date of March 27, 2025, supports the previously announced pre-feasibility study results for the project. The report, titled "Costa Fuego Copper Project NI 43–101 Technical Report Preliminary Feasibility Study," confirms there are no material differences from the information disclosed in the March 27, 2025 news release. The report is now available for review on both SEDAR+ and the company's website.

Hot Chili Limited (HHLKF) has strengthened its leadership team with two significant appointments ahead of its Definitive Feasibility Studies for the Costa Fuego copper-gold project and Huasco Water project in Chile. Stuart Mathews, former Gold Fields executive vice president, joins as Non-executive Chair, bringing over 32 years of international mining experience and a track record of delivering five mining projects from exploration to operations. Alberto Cerda, a Chilean mining engineer with 40+ years of experience, has been appointed as Project Director, having previously led major mining projects including Los Pelambres, Antamina, and the Norte Abierto Joint Venture for Newmont and Barrick.

Hot Chili has achieved a significant milestone as its Costa Fuego copper-gold project and Huasco Water project in Chile have been registered with the Office for Sustainable Project Management by the Chilean Ministry of Economy. This registration, following the company's September 2024 application, positions both projects for priority status and streamlined administrative approvals.

The projects now benefit from centralized monitoring through a single platform, with unique identification codes assigned (Costa Fuego: PRYXTX11, Huasco Water: ZPJCFN59). This development follows Hot Chili's recent Pre-Feasibility Study, which confirmed Costa Fuego as a multi-decade, top quartile production scale copper project with lowest quartile capital intensity.

The company is also anticipating final drill results from its La Verde copper-gold porphyry discovery, the latest addition to its Costa Fuego production hub. This strategic registration marks a crucial step forward in Hot Chili's development plans in Chile's coastal range.