On the topic (sort of) of CRs... with VAT refunds still a steady...

On the topic (sort of) of CRs... with VAT refunds still a steady source of funding does anyone here worry about a possible overhang coming into sight?

Clearly LV, Cortadera and Productora won't be producing copper in 2026, per the deal with the local tax authorities.

At what point does the A$25M contingent liability get "called" by the SII?

Details are laid out in note 18 a. of the last annual accounts. Prob no Chilean tax experts on here, but curious how do people interpret this and whether anyone has heard CE talk about this in recent past?

Being on a second extension and well into 2025, assume it must come up in conversations with investors and strategics. Is there another opty to extend (for the third time)?

18. CONTINGENT LIABILITIES
(a) VAT Payments
At year-end, Hot Chili Limited had accumulated:
- VAT refund payments of $14,939,275 (2023: $16,890,566) with respect to VAT recovered at year end by Sociedad Minera ElÁguila SpA (refer to the table below); and
- VAT refund payments of $9,731,571 (2023: $9,604,604) with respect to VAT recovered at year-end by Sociedad MineraFrontera SpA (refer to the table below).

Under the initial terms of the VAT refund payment, the consolidated entity initially had until the 31 December 2019 to commercialiseproduction from Productora and meet certain export targets. Hot Chili also had the right to extend this term. The Companyexercised its right to extend the date of commercial production from Productora with the Chilean Tax Authority. An extensionto the benefit was extended to 30 June 2022 and a further extension until 30 June 2026 was also granted. An agreement withSociedad Minera Fronters SpA provides an extension to 31 December 2026 for exports related to the Cortadera deposit.

In the event that the term is not extended further and the Company does not meet certain export targets, the Company will berequired to re-pay the VAT refund payments to the Chilean Tax Authority subject to certain terms and conditions. However, ifHot Chili achieves the export targets within that timeframe or its renewal, if required, any VAT refund payments will not be requiredto be repaid