Hot Chili secures funding for Productora
PERTH (miningweekly.com) – Copper developer Hot Chili has secured $25-million in funding to advance its flagship Productora project, in Chile.
The company reported on Wednesday that it had signed a term sheet with Sprott Resource Lending Partnership for a secured debt facility.
The 12-month facility remained subject to a number of conditions, including a due diligence, the completion of formal documentation and approval by Sprott’s partners.
Hot Chili had also agreed to an exclusivity period until the end of June, where it was restricted from engaging in discussions with alternate finance providers.
The funds raised from the facility would be used to complete the prefeasibility study at Productora, as well as to fund further drilling, general working capital and initial work on a definitive feasibility study.
Productora currently has an ore reserve of 90.5-million tonnes, grading 0.48% copper, 0.11 g/t gold and 172 parts per million (ppm) molybdenum, as well as a resource of some 214.3-million tonnes, grading 0.48% copper, 0.1 g/t gold and 138 ppm molybdenum for one-million tonnes of contained copper, 675 000 oz of gold and 29 000 t of molybdenum.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation

















