consistent view on hot chili's projects

Thought this was a good summary of comments over the past 12 months

http://www.theaureport.com/pub/co/6201

The Gold Report Interview with Levi Spry (12/23/13) "We really like Hot Chili Ltd.'s Productora copper project, which is 500km north of Santiago in Chile. Productora is near surface, near the coast, at low altitude and has significant infrastructure advantages. Importantly for a Chilean project it has access to power and water. Nearby it has a second project, Fronterra, which is adjacent to the Payen copper-gold project that Coro Mining Corp. optioned 70% of to Freeport-McMoRan Copper & Gold Inc. in August for $35.5M.

Hot Chili may partner with Compañía Minera del Pacífico S.A., its largest shareholder, which will ensure access to infrastructure and low-capex intensity. Lundin Mining Corp. also owns over 8% of the company, so it has done a bit of due diligence for us, if you like, and we think it is a good judge. We've given Hot Chili a Buy rating with a price target of $1.15/share.

The company is just completing a prefeasibility study, which should be published in mid-2014. A bankable feasibility study should follow in mid-2015, with commissioning in late 2017. We are looking at 60 Ktpa copper production at cash costs of $1.30-1.40/lb for 20 years." More >
Rocks and Stocks (12/17/13) "Drill results from Hot Chili Ltd.'s Habanero reported this week include 43m at 1.1% Cu and 0.3g/t Au, 54m at 0.8% Cu and 0.2g/t Au and 32m at 0.8% Cu and 0.2g/t Au—all of these above the average resource grade. They continue to confirm that not only will this material not be waste, but will likely report in the ore, and that the tenor may lead to a lift in the overall resource grade. Increased contained metal, improved strip ratio and higher grade are all 'in the offing'—potential for a major resource upgrade and stronger economics."
Paul Adams, DJ Carmichael (12/12/13) "The newly discovered Habanero zone, located in the northern part of the eastern flank of Hot Chili Ltd.'s Productora, has now been extended to a strike length of 600m and is open to the north with an intersection of 54m at 0.8% copper and 0.2 g/t gold. . .the company anticipates its resource update release in Q1/14. . .we maintain our Buy recommendation."

Luke Smith, Canaccord Genuity (11/11/13) "Hot Chili Ltd.'s capital raise of AU$11.7M provides sufficient capital for the ongoing 100,000m drill program at Productora and prefeasibility study, due for completion in H2/13. . .the company has also recently signed a letter of intent (LOI) with a local copper processing facility owned by Empresa Nacional de Mineria (ENAMI). . .the LOI is in regard to negotiating an agreement for ENAMI to process oxide ores from Productora."

Ben Crowley, Macquarie Capital Markets (11/1/13) "The Eastern Flank and Habanero zones at the Hot Chili Ltd.'s Productura project should bring higher grades and additional tones, as well as provide the potential to reduce the life-of-mine strip ratio. Recent infill drilling has also delivered strong results, increasing the confidence in the deposit’s continuity. . .the company released some impressive first hits from the Frontera project earlier in the quarter, including 348m at 0.4% copper and 0.3 g/t gold. With the completion of the drilling, we would expect a maiden resource to be announced before year's end. . .we maintain our Outperform rating. Frontera has the potential to develop into a substantial project expanding Hot Chili's development options."
fewer comments

The Gold Report Interview with Bob Moriarty (10/2/13) "Recently I made another quick trip to Chile to visit an interesting company listed in Australia named Hot Chili Ltd. It is a production oriented company. The biggest problem in the copper arena right now is the number of low-grade, high-capex projects. There is a world of projects needing in excess of a billion dollars that work at $4/lb copper but not at $2.50/lb copper. Hot Chili pulled off a coup in Chile in the middle of the Atacama Desert. Chile is an interesting country to work in. In 1970 the government nationalized the biggest copper mines and distributed the most potential copper ground to the state copper company, CODELCO, and the state iron company, CAP S.A. Small mines were left to the existing small owners and operators.
"In the case of what Hot Chili has named the La Productora project there was a core, high-grade copper mine surrounded by both CODELCO and CAP S.A. Ground. Hot Chili recognized that if all three segments were put together, they could have a large, high-grade copper project right in the middle of existing infrastructure. It took years but Hot Chili put it together and did deals with all three parties. Hot Chili nearly doubled its resource in 2013 with a Joint Ore Reserves Committee resource of 165 Mt of mineralization and a high-grade core of 53 Mt. The company is in the midst of a 100,000-m drill program and intends to complete another resource upgrade in late 2013. It is moving forward with the intent to go into production in 2017 with both copper and iron. The project has a low capex required of between $500M and $700M. The company is fully funded."

The Gold Report Interview with Rick Rule (8/5/13) "Really good projects will finance themselves. We recently participated in a small financing of about $12M for Hot Chili Ltd., a copper explorer in Australia that's mining in Chile. To raise that money, it talked to the top five people on its shareholders register. It didn't have to go to the brokers or the institutions."

Darren Martin, Gresham Advisory Partners (7/10/13) "Hot Chili Ltd. ranks No. 7 on our FY13 Top 10 list in terms of market capitalization appreciation, having increased 78.4%; the company ranks No. 12 out of 150 for share price performance in 2013, having increased 19.8% during the year. As of June 30, 2013, Hot Chili had a market cap of AU$145.7M, a 78.4% increase over that of AU$80.9M a year earlier."

Tim Gerrard, Investec Securities (6/17/13) "We initiate on Hot Chili Ltd. as our preferred pick among the new generation of copper explorers and developers; it has a portfolio of opportunities at various stages of maturity, located close to the coast and at low altitude in Chile. Resource growth, advancing development studies and copper price leverage provide good potential upside to the share price. . .we initiate with a Buy recommendation."

Stuart Howe, Bell Potter Securities Ltd (3/14/13) "Hot Chili Ltd. recently announced that it will progress to a prefeasibility study (PFS) on its Productora project in Chile; this decision followed a significant resource upgrade and positive scoping study on a copper-gold mine development. By the end of 2013, the company aims to provide a further resource upgrade and complete the PFS."

Travis Baroni, PCF Capital Group Pty Ltd. (2/27/13) "Hot Chili Ltd. hosted a site visit following the announced positive scoping study and major resource upgrade at the Productora project. . .Productora is an attractive project with scale, grade, metallurgy and infrastructure options. . .we were impressed with the project and the team."

Levi Spry, GMP Securities (1/28/13) "We initiate coverage of Hot Chili Ltd. with a Buy recommendation and a $1.20/share price target. . .we believe the company, with ~$44M cash, is well funded to derisk Productora toward delivery of a bankable feasibility study and decision to mine by mid-2014. We see Hot Chili as one of the best copper development stories on the Australian Stock Exchange."