HCH - Hot Chili

[sjx]

I was wondering if anyone is thinking of taking a placement in this one. Due to list. Potential Chilean uranium,copper,gold producer..

Close Date: 16th April, 2010
Float Date: 27th April, 2010
Issue Price: $0.20
Amount Sought: $6,000,000
Number of Shares: 30,000,000

Interest in one of the largest uranium projects in Chile - Los Mantos and Productora. Productora currently Chilie's largest and most advanced uranium project apparently ... existing mines operating in the region.

Productora and Los Mantos are both iron-oxide-copper-gold-uranium projects that Hot Chili estimates have potential for a combined Target Mineralisation in the order of: 53 to 191 million pounds of Uranium, 1.0 to 2.2 million tonnes of copper metal and 0.6 to 1.64 million ounces of gold..

Arago Resources Limited (AAG).. offered to take over Hot Chilli sometime in October last year.. Look what happened to the AAG share price when the announcement was made public. It eventually fell threw in November.. which saw a dive just as drastic.

I like HCH's tenements, and the region seems to have a good history.

Thoughts from other ASF members appreciated,


Regards

 

[JMB]

Found out the offer has now closed a week early, and had over subscribtions of 28mil shares. Will be listed within 1-2weeks.

JMB

 

[Gringotts Bank]

Not much in the way of liquidity here, but if the Ords powers past 4770 today, I reckon I might get some.

 

[mikem]

Been watchin for a while and like the look of these.
Got in a week ago at low 60s. All reports rate HCH about $1. Up 15% so far
Due for drill results soon could be interesting.

 

[Grandfather11]

Does anyone follow this stock. I first came across them some years ago and they have a small holding however not sure if they are onto something or if its all blue sky?
Thanks
Grandfather11

 

[greggles]

Does anyone follow this stock. I first came across them some years ago and they have a small holding however not sure if they are onto something or if its all blue sky?
Thanks
Grandfather11

There doesn't seem to be a lot going on with Hot Chili chartwise Grandfather. Can you tell us what it is that you like about them?

 

[Knobby22]

Interesting company. Reckon they have found copper. Would be interested if they got funding to build a mine.

 

[barney]

Their Projects look good but with over 700 million shares on issue and very little trading going on it will need a serious injection of volume to change the momentum.

 

[Grandfather11]

There doesn't seem to be a lot going on with Hot Chili chartwise Grandfather. Can you tell us what it is that you like about them?

View attachment 88631

Hi Greggles
I heard a presentation about 4 years ago and they outlined all the infrastructure they bought into as well as mineral areas adjacent. The company has done some drilling with mixed commercial success and now buying into an old area mainly small scale surface mining with high grades. Exploration underway. Hoping that with all the talk about looming copper shortages if they do strike a sizeable quality resource they will take off. I know quite a few “ifs”.
Hoping someone with an understanding of the geology in the area might have an insight.
Thanks
Grandfather11

 

[greggles]

Hot Chili coming back to life in the last couple of months after bottoming out at 1c in December and January.

The catalyst for the revival in interest was the acquisition of 100% of a mining right which contains a portion of the Cortadera copper-gold discovery, located 14km directly southeast of the Company's large-scale Productora copper project in Chile. The mining right (named "Purisima") contains approximately 500m strike extent of the entire 2km long Cortadera discovery zone.

The company said in February that extensional and in-fill drilling was expected to commence within the coming months.

Nice move north today on no news. HCH looking like a potential breakout.

 

[barney]

acquisition of 100% of a mining right which contains a portion of the Cortadera copper-gold discovery

Thanks for the update Greg ……….. Cortadera grades and widths look very good no doubt.

Interesting that the recent Cap Raise was not all that well supported with a high Shortfall rate. It was done at 0.01 cents which is looking like a steal at the current price, but does raise a small red flag on the current push higher at a 200% premium … some caution might be prudent

Director Murray Black continues to accumulate shares and now owns around 124 million

Volume today has been good so no reason it can't keep creeping up … if the 3.2 cent level gets taken out and turns into support, the chart will have a much better feel to it.

 

[Ann]

Hot Chili expands growth potential at Cortadera copper-gold porphyry project

Early stage results of a diamond drilling campaign at the Cortadera copper-gold porphyry discovery in Chile have expanded the growth potential of the project for owner Hot Chili (ASX: HCH).

While assays are expected within the fortnight, the company has confirmed the initial two drill holes point to a “significantly larger potential scale” of the main porphyry than first thought.

The first hole was designed to test and close-out the northwest extent of the Cuerpo 3 porphyry – the largest of the three porphyry centres discovered to date at Cortadera.

It recorded a wide intersection of porphyry from much deeper downhole and further north than expected.

“While the majority of the wide porphyry intersection appears to be moderately mineralised, it highlights a distinct change in the orientation of the porphyry body towards the north,” the company said. More...

 

[barney]

Volume today has been good so no reason it can't keep creeping up … if the 3.2 cent level gets taken out and turns into support, the chart will have a much better feel to it.

Fundamentals from todays Report: 750m …. that is a serious intercept

Updated Result for CRP0013D 750m grading 0.6% copper and 0.2g/t gold from 204m depth
including a New High Grade Zone (unchanged) comprising:
188m grading 0.9% copper and 0.4g/t gold from 516m depth which includes: 100m grading 1.0% copper and 0.5g/t gold from 530m depth (including significant silver and molybdenum credits)

Technicals: The chart speaks for itself

 

[barney]

Bought a handful of these at 3.7 cents …….. Price action is positive again today.

 

[barney]

Bought a handful of these at 3.7 cents ……..

Just for the point of the exercise and transparency … I sold my HCH shares on 19th July ……

Price action was weakening and their upcoming debt requirements were a bit off putting.

As it turned out, the Sell was timely as the SP has weakened further in the short term.

It could still turn out to be huge with the large Copper strike etc, but out for now.

912***** N1093***** 19/07/2019 S HCH HOT CHILI LTD FPO

200,000 0.039 19.95 7,780.05 23/07/2019 Confirmed

 

[greggles]

It's been an interesting week for HCH. After consolidating between 2.8c and 3c for a couple of weeks it began moving north on increased volume last Friday, 6 September, reaching a high of 3.9c on Wednesday this week. The same day the company requested a pause in trading following the receipt of an ASX Price and Volume Query.

In its response to the ASX's query it said that it was not aware of any information concerning it that has not been announced to the market which, if known by some in the market, could explain the recent trading in the Company's securities but then went on to say that it is awaiting the receipt of final assay results from drill hole CRP0011D (as per the announcement dated 28 August) at Cortadera and that these results will be released to ASX once received and compiled.

This morning those results were announced and HCH reported that CRP0011D delivered an 848m intersection grading 0.4% copper and 0.2g/t gold from 112m down-hole depth to the end of hole at 960m, including a high grade zone comprising 184m grading 0.7% copper and 0.3g/t gold.

It's interesting and encouraging that CRP0011D appears to be open at depth and is approximately 100m to the east from results recorded in the previous hole CRP0013D. Looks like there's plenty of mineralisation under the ground there at Cortadera but there will need to be further drilling to define the resource properly.

CRP0017D is now being extended to 1,300m from its current depth of 1,000m and further assay results from CRP0017D are expected to be released over the coming weeks.

HCH looks primed to break through 4c but has so far failed to do so with any real conviction. It will be interesting to see what the next few weeks brings.

 

[barney]

This morning those results were announced and HCH reported that CRP0011D delivered an 848m intersection grading 0.4% copper and 0.2g/t gold from 112m down-hole depth to the end of hole at 960m, including a high grade zone comprising 184m grading 0.7% copper and 0.3g/t gold.

Impressive intersections. Could turn into something nice for the Co. I wonder if they will consider a JV big brother to help with this?

 

[jbocker]

Impressive intersections. Could turn into something nice for the Co. I wonder if they will consider a JV big brother to help with this?

Well if it gets exciting I am sure a Chinese business/miner/processor will soon want be on (the) board.
That aside it will be interesting to see what results continues with deeper drilling. The infill drilling will also be very interesting.

 

[barney]

Well if it gets exciting I am sure a Chinese business/miner/processor will soon want be on (the) board.
That aside it will be interesting to see what results continues with deeper drilling. The infill drilling will also be very interesting.

Yeah there is no doubt the area is endowed with some high quality resource. The Company did a pretty good job of comparing their Cortadera deposit with the likes of Rio Tinto's Winu deposit and SolGold's Cascabel deposit in their recent May Presentation.

My main concern is they are still a minnow (even though I respect they have BIG ideas …..)

If it all comes to fruition, their current share price could be a fraction of what it will be in a few years.

In the short term however … they are paying a total of $30 million for 100% rights to Cortadera over the next 2.5 years … that of course has to be funded.

The results indicate it is well worth it, but owing money always puts a Company in a vulnerable position if things don't quite go to plan.

Could be a great trading Stock over the next 2-4 years due to the above, but appropriate caution should be employed …… Maybe I'm just getting soft

 

[barney]

owing money always puts a Company in a vulnerable position if things don't quite go to plan.

Trading Halt … Cap Raise. Kind of expected that.