Hot Chili Limited has completed a A$40 million capital raise through a private placement of 24.2 million shares priced at A$1.65 per share. The oversubscribed offering attracted participation from the company's major shareholders, including diversified commodities firm Glencore, along with Blue Spec and GS Group, demonstrating institutional confidence in the company's development plans.
The funds will be deployed to accelerate the next phase of development at the Costa Fuego copper-gold project located in Coastal Chile. Capital will support the integration of the La Verde discovery into project planning, as well as preparation and submission of the required environmental impact assessment, a critical regulatory milestone for advancing toward production.
The placement represents a strategic capital event for Hot Chili as it progresses the Costa Fuego project through key development stages. The participation of established mining-focused investors signals market confidence in the project's economics and the company's operational strategy in the copper-gold sector.