From Henry Jennings of Marcus Today
Hot Chilli (HCH) – SPICE UP YOUR LIFEFirst off, do not all rush this one as it is suspended currently. Theattraction is that Glencore has just taken a 9.9% stake in the company.
· It has presented at the Diggers andDealers this week. Copper. Chile. Hence the name.
· Market cap $115m with stuff all cash of$3.5m but money coming. Glencore is going to help.
· The company points out that there haveonly been two major copper discoveries in the last five years and Cortadera inone of them.
· HCH is the only company in the area notlisted in Canada. That is changing. Expect 2H 2021.
· HCH trades at less than US$0.01/lbversus peer average of US$0.046/lb
· 40,000m drill programme commenced 11thJanuary 2021
· 3 drill rigs operating, 5 shifts perday
The good news is Glencore has bought a 9.9% interest in the company. Itis a $14.4m investment. Furthermore, the Company undertakes to grant Glencoreofftake agreements over 60% of concentrate produced for a period of 8 yearsfrom commercial production on arms-length commercially competitive benchmarkterms.
I am eagerly awaiting a return to trade and see what the market makes ofthe deal, but this has the potential to be a serious copper project in a stablemining friendly jurisdiction.
Who said I had given up looking for the Whale? It’s out there.
HCH UPDATE
Iam going to add a 2% holding in this one at 4.2c.
Henry Jennings HCH, page-16
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Last
80.0¢ |
Change
0.015(1.91%) |
Mkt cap ! $121.1M | |||
| Open | High | Low | Value | Volume |
| 78.5¢ | 80.0¢ | 78.0¢ | $48.38K | 61.49K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 548 | 78.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 80.0¢ | 8546 | 2 |
View Market Depth
| Last trade - 16.10pm 13/09/2024 (20 minute delay) ? |
| HCH (ASX) Chart |