Welcome to our dedicated page for Hot Chili news (Ticker: HHLKF), a resource for investors and traders seeking the latest updates and insights on Hot Chili stock.
Hot Chili Ltd (HHLKF) delivers copper-gold exploration updates and mining infrastructure developments from Chile's Atacama region. This page consolidates official announcements and progress reports for investors tracking the Costa Fuego project and related water/port initiatives.
Access timely updates on resource estimates, drilling results, and strategic partnerships. Key focus areas include coastal range exploration programs, desalination infrastructure advancements, and logistics planning for bulk concentrate exports through Huasco port facilities.
Our curated news feed covers essential developments including:
• Project expansions and mineral resource updates
• Infrastructure partnerships and joint venture announcements
• Operational milestones in water asset development
• Financial reporting and regulatory filings
Bookmark this page for streamlined access to HHLKF's evolving position in Chile's mining sector. Verify information directly through primary sources linked within each update.
Hot Chili (ASX: HCH) (TSXV: HCH) (OTCQX: HHLKF) has appointed Ryan Finkelstein as Chief Financial Officer (CFO), effective July 15, 2024. Finkelstein, a Chartered Accountant with over 14 years of experience, including 10 years in audit at Grant Thornton, replaces interim CFO Ms. Le Moignan. He brings extensive international experience and expertise in strategy, compliance, corporate governance, and risk management.
CEO Christian Easterday welcomed Finkelstein as a key member of the leadership team, praising his strategic thinking and financial acumen. Finkelstein will be eligible to participate in the company's short-term and long-term incentive plans. This appointment marks a significant addition to Hot Chili's executive team as the company continues to develop its operations.
Hot Chili and Compania Minera del Pacifico (CMP) have launched Huasco Water, a new entity to address water scarcity in Chile's Atacama region. Hot Chili holds an 80% interest in Huasco Water, while CMP holds 20%. The new company will develop a seawater and desalinated water supply network for mining, agriculture, and community use. The transfer of critical water assets from Sociedad Minera El Águila SpA to Huasco Water has started. Hot Chili's Costa Fuego project and CMP's Los Colorados mine are potential large consumers of this water. Additionally, discussions with other potential off-takers are ongoing. The establishment of Huasco Water aligns with industry trends in water infrastructure outsourcing, as evidenced by Antofogasta Minerals' recent $600 million water asset sale. This move secures water supply for future developments and preserves continental water sources.
Hot Chili (ASX: HCH; TSXV: HCH; OTCQX: HHLKF) held its General Meeting on July 4, 2024, in Perth, Australia. All resolutions proposed were passed. Key resolutions included the ratification of placement shares under Listing Rules 7.1 and 7.1A, approval for issuing broker options to agents, approval for issuing underwriter options to Veritas, and re-approval of the Employee Incentive Plan. The vote percentages were mainly in favor, with 92.65% for resolutions 1 and 2, over 94% for resolutions 3 and 4, and 89.44% for resolution 5. Abstentions were noted but did not affect the outcomes.
The results indicate strong shareholder support for the company's strategies, including its equity and incentive plans. Detailed voting results are available in the official release.
Hot Chili (HHLKF) announced its financial report for the quarter ending March 31, 2024, showing significant advancements in various areas.
The company reported a substantial increase in its Costa Fuego Indicated Copper-Gold Resource, reaching approximately 798 Mt. Moreover, the Mineral Resource reflected a 6% rise in copper-equivalent (CuEq) contained metal in the Indicated Resource and a 9% increase in CuEq contained metal in the higher-grade section of the Indicated Resource.
Additionally, Hot Chili has made progress in its water study, preparing to establish a new water company, and enhanced regional consolidation for Costa Fuego. The company is also working on exploration activities, with deep penetrating geophysical surveys and drilling initiatives.
Despite these positive developments, the company's cash position stood at A$9.5 million. The press release was authorized by the Managing Director for release to the TSXV.
Hot Chili announced the acquisition of the Domeyko cluster, a large addition to its Costa Fuego Copper-Gold Project in Chile, boosting its exploration pipeline. The company secured an option for 141 km2 of land, representing a 25% increase in total landholding area. This new landholding strengthens the potential for discovering new mineral resources. The Technical Report confirms Costa Fuego as a low-risk, long-life copper project with high metal production. Hot Chili is progressing towards the delivery of the Pre-Feasibility Study in 2H 2024, aiming to contribute significant new copper supply this decade.
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