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HCH - Hot Chili

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Glencore still there and still have a board member but they got diluted down to about their minimum holding to keep their offtake deal at the last CR. I guestimate copper will have to go north of $5 for some time for it to be worth the capex to build this, which is entirely possible down the track. Maybe after the upcoming global recession is over.
 
BHP are taking over Filo in a JV with Lundin.

It's hard to work out exactly what the deal values Filo at in AUD and it's exploration potential outside the advanced Filo del Sol Project, but it looks like it has substantial upside. There's some truly significant assays in their drill program that put HCH to shame.

Having said that, and with so many more weak direct comparisons to HCH, it's worth considering the broad numbers of their respective feasibility studies to gain some perspective.

On the surface of it, the MC differential of $4.5b for Filo compared to $130m for Hot Chili seem a bit out of whack.






 
They've burnt shareholders too often. Surely even Christian Easterday doesn't believe his own rubbish anymore, what's with the water business, a white elephant and a necessary distraction! I don't know who makes money out of this company other than those on wages.
 
I probably missed an opportunity to bail on this white elephant last year around $1.50 and park the cash into something faster moving. Like cash.

PFS due sometime in H2. Must be too difficult to give a deadline of say - November, to put some pressure on the contractors to do their job.

They're supposed to be doing 30km of drilling as ann Aug 23, however they don't seem to be announcing results separately but hiding them in the quarterlies. I'm not sure if the conforms with continuous disclosure. Maybe they'll ann something if they actually hit more than dirt.

These 'planned holes' on the powerpoint slide have been 'planned' for about 6 months. zzzzzzz

I'm not sure what the management team of this company do with their days. Maybe just putting together powerpoints for the next roadshow conference organised by Rick Rule. Or, maybe planning their next diversionary side company after creating the water thing. Maybe they'll start a power company next?

That SPP at $1.00 was a good buy.




 
If HCH doesn't get a bid on this then they need to have a good hard look at themselves.

 
HCH selected for the Oct monthly comp. Most stocks associated with copper have rallied this week on news of possible economic stimulus in China. However I noticed that HCH hasn't as yet. I'm picking this laggard to catch up in Oct.

@Sean K jeez, you're quick to notice this. Have you got any mention of HCH on email alert?

Looking at the chart we see that it's not pretty if you're a holder (inexorable down trend). However it may have found a temporary level of support.
 

I’m walking in the park, in the rain, and now under a tree, and wanted to check on your posts Pete.
 
This might be going to disappoint me again @peter2 with my bottom call at 75c. Copper off a couple of % but someone wanted out at 11.30 ish this am. Losers.

Maybe the sugar hit from Chinese stimulus was just that.

 
Somebody thought it was a bargain price and stepped in. Hope it wasn't you.

 
Nice last couple of days. finishing on highs. My bottom picking record remains in tact.



I failed to slap up the Ore Reserve Statement from a couple of weeks ago.

Scrapes over the 1Bt mark which has been excruciating to wait for.

Hopefully the PFS, that they 'hope' to have done by the end of the year, puts this into the 150Kt CuEq production profile that should get more eyes on it. That's about what Oz were producing when they got gobbled up by the big Australian.

I wish they were still exploring with more drills in the ground, this is getting really boring.


 
Don't be surprised when the PFS doesn't drop this year due to contractors unable to meet their timeframes.
 
Barnouste said:
Don't be surprised when the PFS doesn't drop this year due to contractors unable to meet their timeframes.
Click to expand...

Yes, I have very low expectations of this management team which they continue to exceed. South.
 
Barnouste said:
Don't be surprised when the PFS doesn't drop this year due to contractors unable to meet their timeframes.
Click to expand...

And there we have it.

PFS delayed to Q1 2025.

These people are complete muppets.

And, they didn't think to inform the market that they were drilling this additional plot of desert in October?


 
Rolling the dice with this for the 2025 comp, just for some self flagellation. I don't think it's going to go up. It's probably more likely to go into administration or be nationalised by Chile and given to Codelco. The management of this company are quite possibly the worst on the ASX. A pure lifestyle company. I'm not even sure if anyone is actually managing it. Maybe a couple of llamas who have strayed down from the Andes are at the wheel. So, obviously I think this is going to the moon in 2025. In a great big ball of dog turd on fire. Woof.
 
They've found AI according the quarterly. They'll rightly claim they had a 10 year jump on the rest of the copper miners just like the water license, hell they might even claim they've got access to a Version unavailable to other copper miners! There's always something with this mob, some huge distraction to take the focus away from whether CF is viable or not.
 
I must have had a few too many St Henri's when I picked this yapper for the yearly comp. Not sure what price it's at because I really don't care too much. It's a dog with fleas and the only way it will come good is if copper goes on a run this year or they discover something more than a water license. Groof.
 
No self respecting flea would jump on the Hot Chili dawg.

Its owner promises to take it for walkies but never does.
 
Not sure how much more copper they might add with this. And it's too far away from the planned hub to put a conveyor belt in to move bulk ore up.

Still too low a grade, but that's a porphyry I suppose. Copper is running out and these sorts of deposits will eventually be mined. Maybe in 50 years.

This is looking like it's about 400x500x300x2.6 = 156Mt @ 0.3 / 0.4%.

Open at depth so maybe a couple of DD holes to 1km might make it more interesting. A high grade load fairly shallow at over 0.7% would be good too.

This has been a slow moving train wreck for a four years now.

 
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