Hot Chili reports progress on Costa Fuego project and seawater supply initiative in Q3 2024 update

Hot Chili Limited has reported progress on its Costa Fuego Copper-Gold Project in its Q3 2024 update. The pre-feasibility study is on track for completion by late 2024, with improvements noted in molybdenum flotation and copper oxide leach recoveries compared to previous assessments. The company is advancing its Environmental Impact Assessment, with plans for submission in mid-2025. Additionally, Hot Chili is developing a regional seawater supply business through its new subsidiary, Huasco Water, aimed at supporting local communities and mining operations. As of September 30, 2024, Hot Chili's cash position stands at A$25.7 million, with no debt. The company continues to explore opportunities in its newly acquired Domeyko landholding, with promising initial results from soil and rock sampling.