Barry Fitzgerald RRS column this morning has a bit on HCH. Positive stuff. ...
That copper-focussed column on June 8 was followed up here two weeks ago with the idea that with OZ Minerals’, now absorbed by BHP in a $9.6 billion takeover (the mining market leader agrees with the 2025 pivot point for copper), investors dollars would dribble down to the copper explorers/developers.
Once of those mentioned was Hot Chili (ASX:HCH) which was trading at $1.06 at the time. It has since taken off to $1.45 for a 37% two-week gain.It was argued at the time that Glencore was on board with an equity position, and a royalty deal has been struck with Osisko, the latter providing a see through value for Hot Chili’s Costa Fuego project in Chile of $US1.34 billion.The question was asked why hadn’t the local market got on board with the story. The Osisko royalty see-through value, and the release of a scoping study into Costa Fuego’s development, has turned that around. The market is now on board.The scoping study covered a base case long life, large scale project with a post-tax NPV8 of $US1,100m and an IRR 21% for a nominal 20Mtpa processing plant and a 12,000t heap leach copper cathode SX-EW plant with combined average annual production of 95,000t of copper and 49,000 ounces of gold at an AISC of $US1.74/lb.Piers Reynolds at Veritas Securities (which has acted for the company in the past) reckons the re-rating of the company is not done yet. Post the Osisko royalty deal and the scoping study, Reynolds put a $3.54 a share price target on the stock. That’s not a typo.
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Last
$1.08 |
Change
0.005(0.47%) |
Mkt cap ! $155.8M |
Open | High | Low | Value | Volume |
$1.10 | $1.14 | $1.08 | $486.5K | 437.3K |
Buyers (Bids)
No. | Vol. | Price($) |
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3 | 7999 | $1.08 |
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Price($) | Vol. | No. |
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$1.12 | 5054 | 1 |
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No. | Vol. | Price($) |
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3 | 7999 | 1.080 |
2 | 5224 | 1.075 |
1 | 37383 | 1.070 |
1 | 3 | 1.060 |
5 | 30200 | 1.050 |
Price($) | Vol. | No. |
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1.115 | 5054 | 1 |
1.125 | 1497 | 2 |
1.130 | 32856 | 2 |
1.145 | 500 | 1 |
1.300 | 22097 | 2 |
Last trade - 16.10pm 15/05/2024 (20 minute delay) ? |
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Last
$1.11 |
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Change
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Open | High | Low | Volume | ||
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Last updated 15.57pm 15/05/2024 ? |
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