HCH - Hot Chili

[Sean K]

HCH clearly don't think that their current resource base is enough to get a mine over the line. They just keep buying extra land in their vicinity with the hope that they hit something in exploration. I say 'hope' because it doesn't seem that they have any data or historical drilling or even a rock chip to indicate that this land has copper or gold in it. I'll be pushing up daisies by the time this digs up anything of value.

 

[dyna]

Ouch ! Here's trouble . ( Guess what they'll be wanting now ? )
Trading halt . Till Friday .

 

[Sean K]

Ouch ! Here's trouble . ( Guess what they'll be wanting now ? )
Trading halt . Till Friday .

There will be about 5 more CRs before they get to a BFS. The only chance that won't happen is if Glencore decide to take over.

 

[Sean K]

I think the MD had said there would be no dilutive CRs going forward. Issuing 30m new shares musn't be dilutive. At a dollar.

Pants on fire Easterday.

 

[debtfree]

I think the MD had said there would be no dilutive CRs going forward. Issuing 30m new shares musn't be dilutive. At a dollar.

Pants on fire Easterday.

Yes they sound like sneaky little buggers ......

Quarterly Report after trading hours on the 30th with just over the 2 quarters of funding needed not to answer the cash flow questions then, the next morning before trading opens they come out with the Private Capital Raising. Poor shareholders are caught out.

 

[The Triangle]

Yes they sound like sneaky little buggers ......

Quarterly Report after trading hours on the 30th with just over the 2 quarters of funding needed not to answer the cash flow questions then, the next morning before trading opens they come out with the Private Capital Raising. Poor shareholders are caught out.


View attachment 176095

Think about a half dozen have done this, PDI, HCH, MAT - all seemed to drop the quarterlies with a trading halt at CR this week off the top of my head.

HCH, I lost track of their record, must be over $300 million now in capital raised. More money to be sunk on drilling something that might be mined in 50 years?

 

[Sean K]

Think about a half dozen have done this, PDI, HCH, MAT - all seemed to drop the quarterlies with a trading halt at CR this week off the top of my head.

HCH, I lost track of their record, must be over $300 million now in capital raised. More money to be sunk on drilling something that might be mined in 50 years?

I would guess they've raised triple their MC. I'm not sure it's grown enough to warrant a major taking over, hence the land grabs. The last MRE upgrade after 2 years of drilling was almost the last straw for me, but I'm hoping they simply ride the copper narrative. Eventually.

 

[peter2]

The 50:1 consolidation has also disguised the multiple cap raises and the many issued shares.

 

[dyna]

When I think of RIO's long , long haul to finally get their Olly - Tolgai Mongolian copper ore mine up and running (last year from memory ) , what hope is there for this mob?
Rio's pitiful return on ( $ Billions ) of shareholder equity is barely in positive territory right up to this year. Where would they be without iron ore? Jeebus , where would this country be , without iron ore.
Oops , back on topic . Copper . Chile's got the most right ? But it's still got to be dug outta the ground .
My dream exit price for HCH , of $ 1.50 is not looking likely , now .

 

[Sean K]

Predictably re-opened close to the raise price, but settling around $1.05. Might have to consider the SPP if it holds up over the next couple of weeks but I'm not convinced by management now. They were always going to need more money but like CEL, they were claiming non-dilutive measures. Can't really trust them any more.

 

[dyna]

Mmmmm. Five percent is 5 % , I suppose .
Can't wait to clip the ticket , first chance I get , though.
Would not be a long - term holder here , even with a gun to my head !

 

[dyna]

The $ 25 Million Private Share Placement , for professional and sophisticated punters was a success . HCH hints that it won't need to hit up the market again for the next 18 months . Phew !

Now it's time to fleece the mug punter . ( Oops , that's me . )

SPP offer at a buck closes 24 TH May . Reading between the lines , it appears to me , HCH is probably going to accept oversubscriptions .
Point of interest : 6 % of the placement paid out as options to the underwriters , will be exercisable in 18 months time at $ 1.50 , so I must remember to bail out before then !
Last time I did one of these SPP's ( with DYL ) I got lucky with a 30 grand roll of the dice .
Mmmmm . Not too confident this time around . Feeling a bit like nervous Normie in that song of long ago " Oh lord , don't you ever let a chance go by "

 

[Sean K]

The $ 25 Million Private Share Placement , for professional and sophisticated punters was a success . HCH hints that it won't need to hit up the market again for the next 18 months . Phew !

Now it's time to fleece the mug punter . ( Oops , that's me . )

SPP offer at a buck closes 24 TH May . Reading between the lines , it appears to me , HCH is probably going to accept oversubscriptions .
Point of interest : 6 % of the placement paid out as options to the underwriters , will be exercisable in 18 months time at $ 1.50 , so I must remember to bail out before then !
Last time I did one of these SPP's ( with DYL ) I got lucky with a 30 grand roll of the dice .
Mmmmm . Not too confident this time around . Feeling a bit like nervous Normie in that song of long ago " Oh lord , don't you ever let a chance go by "

Yeah, I think they said the Osisko deal would get them through 18 months as well and up to delivering a PFS in H2 2024 and it lasted 9 months. Can't trust this mob.

You going into the SPP?

I'm going to watch the SP up to the final date to see if it's worth it. There's been a few CRs recently where the market has actually liked that the company has secured decent funding therefore reducing risk and the SP has gone well north of the SPP price.

 

[Sean K]

Well, it's holding up well above SPP price, so far @dyna

Unless there's a pretty clear stag to be had I'm watching from the sidelines. Up 15% on the closing day might be enough for me.

 

[dyna]

Mmmmm. I'm fine with it . But , it's gonna be risky . Buyers outnumber sellers 2 to one in the queue , today , if that means anything .

That 200 day moving average line , on your chart is still pointing .......down , though .

 

[Sean K]

Mmmmm. I'm fine with it . But , it's gonna be risky . Buyers outnumber sellers 2 to one in the queue , today , if that means anything .

That 200 day moving average line , on your chart is still pointing .......down , though .

Trading up to $1.20 now dyna, well above the SPP at $1.00, for now. SPP closes Friday. I'm thinking about it but I've gone off management due to the misinformation and really poor MRE upgrade. However, if I can get a 15-20% stag on the SPP then why not...

 

[dyna]

Why not , indeed.
Like you , I 'm always sitting on a big cash reserve , waiting........ for what , exactly ? Oh yeah , the big crash !
Could be a long wait , right ?
Meanwhile , there's a buck to be made , so ..........( "Oh lord , don't you ever let a chance go by " as in the Newcastle Song )

 

[Sean K]

Why not , indeed.
Like you , I 'm always sitting on a big cash reserve , waiting........ for what , exactly ? Oh yeah , the big crash !
Could be a long wait , right ?
Meanwhile , there's a buck to be made , so ..........( "Oh lord , don't you ever let a chance go by " as in the Newcastle Song )

Unfortunately, they closed the SPP this afternoon and I was out for a long lunch. Marbe karma, maybe not.

 

[dyna]

Can't recall the last time an SPP closed so early . It's such a rare thing . For those earlybirds the scaleback will be pretty severe by the look of it .
Glencore has sold down from 11 % to below 10 % , now . Funny business at work , here .
Somebody knows more than the market knows , that's for sure.
Oh well , if it does wonders for the S. P. who cares ?

 

[The Triangle]

Someone remind me again what the share price is? 95 cents?

What was the recent capital raising? 100 cents?

Rinse and repeat.... this company has been doing the same thing with the same deposit for 10 maybe 15 years now. Copper is in a boom and the share price is essentially at record lows off the back of a record low capital raising price.

Wasn't glencore supposed to be the savior last time?