Maiden resource, page-28

Mate is not everyday that a resource of this size is announced to the market in the world let alone the ASX.

Look at Winu for Rio Tinto for example, the Inferred Mineral Resource for that deposit reported at a 0.2% copper equivalent cutoff, was an impressive 503Mt at 0.45% copper equivalent (CuEq). This includes a higher grade component of 188Mt at 0.68% CuEq at a cutoff grade of 0.45% CuEq. To understand just how stategically important these deposits are even to the biggest miner in the world, this deposit is located Paterson Province of Western Australia 350 km from the coast and Rio Tinto has announced that they intend to mine this deposit even though currently it is half what is considered a Tier 1 mine. Years ago Rio would never have considered developing such a size deposit being so far from the coast with very little infrastructure in place.
Rio has been investing heavily in copper in the past two years as it believes the market will soon go into deficit amid expectations that bigger power grids around the world and an electric-vehicle boom will boost demand, while supplies will remain constrained. They are taking a more agile and innovative approach at Winu, and are working on the studies for a small-scale, start-up operation focused on Winu’s higher-grade core as we take another step towards commercialising this deposit.

If Hot Chilli can match 500MT at 0.5% CuEq this will be absolutely brilliant and the whole copper world will take notice. It is no wonder that CE and the technical team are taking their time to get this right. This is company making make no mistake about that and considering we have only drilled out a 15 % of Cortadera, a fraction of Cuerpo 2 which has the potential for another high grade core, Cuerpo 3 North has the potential for the main porphyry to extend a further 500m to the north and are about to start drilling Cortadera North which is a "look-alike" potential for a second large porphyry discovery, located 2km north of Cortadera, hitting a 500MT resource at this very early stage will be like hitting the jackpot. Don't forget as well Cortadera is not located in the middle of the nowhere like Winu but on the coast with infrastructure in place, a massive plus and very attractive to the majors. If we come in under 500MT so be it as the future still looks ultra bright with all the upside drilling to come and the majors all know it.

Don't forget we also have Productora across the road which is a very impressive copper deposit on its own with an already announced 1.5 million tonnes of contained copper and the very high grade satellite deposit called San Antonio which will also be announced shortly.

This is a very exciting company to hold shares in and I for one have every bit of confidence in its huge future.

Bring on a Monday TH!