HCH - Hot Chili

[Sean K]

HCH still asleep at the wheel. ? No one loves it. ?

But, Rick Rule seems to think it's ok. So, I'm hanging about.

 

[Garpal Gumnut]

HCH still asleep at the wheel. ? No one loves it. ?

But, Rick Rule seems to think it's ok. So, I'm hanging about.

Wondered where this was up to.

gg

 

[Sean K]

This is interesting. Might be the partner they need to actually did this stuff up.

 

[bk1]

Glencore is a trading house primarily, correct? Must be a lot of copper to get them interested in 60% for 8 years.

 

[Sean K]

Glencore is a trading house primarily, correct? Must be a lot of copper to get them interested in 60% for 8 years.

Production and marketing. This is just their copper stuff.

Not sure what price they've paid for their shares in this. $14.4m for 9.99% at MC of ?? = ?

 

[Sean K]

Looks like it might open up (whenever that is) at about 0.041 which isn't too much of a leap on last close at 0.036. zzzzzz. That must be about what Glencore has paid I guess. Bit of surplus on the buy so might be chased. I hope.

 

[Sean K]

So, they've got Glencore on board, plus doing a CR at the same time? I thought they were sort of linked, but not sure what this is for. Further dilution, of course, but they've got enough to get to the next Feasibility Study. More drill rigs? More drilling? Drilling Santiago Z. It's a thick plot. I just hope the sp moves in the direction I've been expecting for months. zzzzzz

 

[Sean K]

I guess 3.2c is at least a base now. Not sure how I'm feeling this will go. Indicative open is 5c but that could just be games being played.

 

[Sean K]

Well, I've bought into the spp at 3.2c. Hopefully I get my full quota which is currently at quite a discount to the current sp at 4c. Hopefully that gap stays but I assume it'll trade in a range closer to the spp price.

Now I just need the Chilean government to switch to a right wing low tax beast. ?

 

[basilio]

Bad luck folks. I've chosen Hot Chili for my September pick.

Just fell in love with the name.

Anyway they had a heap of punters oversubscribe for their Productora project so clearly .... we'll find outin due course.

Hot Chili firms up majority ownership of Productora and Cortadera after oversubscribed raising

Following a $40 million capital raising earlier this month, Hot Chili (ASX: HCH) has firmed up its majority ownership of Productora by removing Compañia Minera del Pacifica’s option to purchase an additional interest in the project.

smallcaps.com.au

 

[Sean K]

Bad luck folks. I've chosen Hot Chili for my September pick.

Just fell in love with the name.

Anyway they had a heap of punters oversubscribe for their Productora project so clearly .... we'll find outin due course.

I got 60% of my request which is now on the books. SP holding up at 4.5c against 3.2c spp so happy with that for now. I anticipated a lot of retail punters selling for a quick but small profit. Could still happen into the day I suppose.

Glencore's man they've had planted is Mark Jamieson. Sounds like a good asset.

 

[Sean K]

Getting a little frustrated with the flow of info from HCH. Perhaps they're just bedding down the Glencore thing but they were supposed to have several updates out over the past few months that they have not provided.

Ann from 16 June said this:

Now, "coming weeks" to me means weeks, not months.

They did announce progress on TSXV listing on 09 Jul, but that's it.

Has done well since bouncing off the 3-3.4 support area. Happy it hasn't crashed since spp coming on the books.

 

[Sean K]

It's a miracle!! Drilling update. ?

The lengths and grades as as usual but the extensions are important. Want to see this project get up towards the 1Bt / 5Mt contained Cu mark.

Holes 124 and 134 look to extend it quite a bit to the NE, but 131, 132 and 144 been 'weakly mineralised' is disappointing.

Strong mineralisation from surface at Cuerpo 2 is good news. Haven't thought of this as open pittable. The good stuff is around the 700m down hole mark in C3.

 

[Sean K]

This is a really interesting interview of the MD by Matt at Crux. He's actually asking questions punters would like answered and not just a promotional piece. He's putting him under the pump here. Good darts Crux!

 

[greggles]

There's a definitely a spike, retrace pattern happening with HCH, but it still seems to be in a uptrend, for the moment at least.

 

[Sean K]

A bit of a ramping ann from HC today, outlining what sounds to be a pretty speculative drilling target method, but hey, I'm no geo. I've been waiting patiently for further info on Santiago Z that they teased us with earlier in the year, saying it was a lookalike to Cortadera, but they weren't going to drill into it until later this year. Now, they're saying they need regulative approval to drill it. I would have thought an exploration license would include the ability to dig a hole or two. Sounds like it's just a procedural thing but pricks my ears up a bit.

They keep on telling us there's going to me a 'major resource upgrade' coming this year. I'm hopeful that it gets up over 1Bt @ 0.5% CuEq and worse case down around the 850Mt @ 0.45% mark. Maybe it'll be somewhere between those.

 

[Sean K]

If someone announced a porphyry intersection of 600m @ 0.5% CuEq around North Parks elephant country they'd be on the front page of The Global Mining Weekly. (Well, maybe not - I just made that up). But, it's in Chile, where the Socialists like to roam. Good news in local politics is that the Communist candidate got squeezed and the leading candidates are mid-road, mining friendly and not likely to want to eat the golden gooses / geese / geesi.

Overall tonnage must be heading to the magical 1Bt with 5Mt contained Cu. A Tier 1 copper discovery is rare in this World.

The high grade core of Cuerpo 3 looks like it's heading to over 100Mt @ 0.8% CuEq as well.

What does the market think?

Come on people! I've picked this in the monthly comp!!

 

[Sean K]

HCH due to come out with a resource upgrade before the end of the year, that I think will put it on the map, even with Chile politics and potential Communistas coming into power into the future.

About a $190m MC now (after the big capital raise and Glencore buying in) with the current resources in the ground and hits like the one above will eventually be re-rated, imo.

Has formed a longer term floor down there with some recent minor support forming.

Discussion on copper and HCH from 39.30 below.

 

[Sean K]

Support established at 3.6-7c and jumping a little today probably due to the POC overnight, up over 3%. Haven't seen many solid green candles on this puppy.

I'm overbalanced in this little woofer now, fingers crossed the next MRE comes in as I expect and the Canadian listing gives it a boost before the end of the year and the market crash.

Rick Rule on board long term, but I think he and Sprott have pumped a bit of cash into them so take that as you may. He's either a true believer or ramping it as he's committed his own $$. I'm guessing he's a believer.

(edit: updated MRE is stated to be after the TSX listing and early next year)

 

[finicky]

I won't be buying but there is a striking picture of volume, positive divergence and small bodied candles on the all Data monthly chart. Double bottom late 2018 and mid 2020, long base. I would be feeling hopeful holding it.

Monthly