Hot Chili eyes dual listing by the end of the year
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Hot Chili plans to list on the TSX venture exchange by the end of 2021, a move which could shore up future funding and development of its large-scale Costa Fuego copper-gold project in Chile.
The Canadian market has a proven track record of supporting large-scale exploration and development companies in the copper and gold space – with transformative dual listings like Equinox Minerals (C$7.3 billion takeover by Barrick Gold Corp) and Andean Resources Limited (C$3.6 billion takeover by Goldcorp Inc) standing out.
Hot Chili (ASX:HCH) is confident a dual listing could position it favourably amongst its Canadian peers – Marimaca Copper, Filo Mining, Solaris Resources, Josemaria Resources and SolGold – who trade at higher valuation multiples and who control the other leading copper developments in South America.
Costa Fuego Hub (Cortadera, Productora and El Fuego) has a combined mineral resource of 724 million tonnes grading 0.48% copper equivalent for 3.5 million tonnes copper equivalent metal (2.9 million tonnes copper, 2.7 million ounces gold, 9.9 million ounces silver and 64,000 tonnes molybdenum).
Three drill rigs are currently operating, with pre-feasibility studies underway and multiple exploration programs advancing across the Cortadera and Santiago Z coastal copper projects.
The company is confident it could deliver another significant resource upgrade at the Cortadera porphyry discovery sometime this year.
This article was developed in collaboration with Hot Chili Limited a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.