Hot Chili Limited Half-Yearly Financial Report Showcases La Verde Discovery and Future Prospects

Hot Chili Limited's Interim Financial Report: Key Highlights

On March 14, 2025, Hot Chili Limited released its half-yearly financial report for the period ending December 31, 2024. This report not only details crucial financial metrics but also unveils significant operational developments, particularly around their La Verde copper-gold project located near the Costa Fuego hub in Chile.

Major Discoveries and Developments

The report highlights the integration of the former La Verde Copper Mine, which adds substantial value to the Costa Fuego coastal copper hub. The preliminary findings from drilling operations at La Verde confirm a major copper-gold porphyry discovery, with drilling revealing broad mineralized intersections that extend over 300 meters vertically.

Through ten Reverse Circulation (RC) drill holes completed by early February 2025, the mining company has established the current discovery footprint, which spans 550 meters by 400 meters and remains open for further exploration. Notably, the mineralization starts at shallow depths, and optimistic projections suggest deeper potential exists, yet to be explored, suggesting a promising outlook for scalability at La Verde.

Advancements in Feasibility Studies and Water Management

The Costa Fuego copper-gold project is advancing through its pre-feasibility study (PFS) stages, and Hot Chili reports satisfactory progress across several critical workstreams. Key achievements include the finalization of metallurgical tests aimed at minimizing freshwater dependence, which aligns perfectly with their plans for seawater processing. A market evaluation for water supply in the Huasco region is nearing completion, positioning Hot Chili favorably for future expansion and ensuring sustainable operational practices.

The financial snapshot as of December 31, 2024, indicates a robust cash position of A$19 million, offering substantial liquidity for ongoing operations and upcoming feasibility studies.

Financial Overview

Despite the significant operational advancements, the report also notes challenges, reflecting a loss of A$6,509,483 for the half-year under review, compared to A$4,131,534 from the previous year. The majority of expenses stem from heightened exploration activities and administrative costs, essential for expanding their operations.

Despite the financial challenges, the potential mineral resources at La Verde are anticipated to increase as further assays are finalized from the ongoing drilling program. The exploration efforts at La Verde have prompted significant updates in mineral resource estimates, which could translate to substantial value addition for Hot Chili Limited and its investors.

Hot Chili's ongoing commitment to sustainable mining practices and operational efficiency underpins its strategic approach, positioning the company favorably for long-term growth amidst a competitive landscape. Conclusion: With a combination of favorable financial positioning, significant operational advancements, and ongoing exploration potential, Hot Chili Limited is poised for an optimistic future in the copper-gold market.

This interim financial report marks a pivotal moment for Hot Chili Limited, setting the stage for further exploration and development initiatives aimed at solidifying their footprint in the mineral resource sector.