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copper miner Hot Chili is looking to spice up its drilling activities in South America.

The $119 million company was on the hunt for a $25.6 million capital injection in a funding round pegged to close on Tuesday morning and overseen by Sydney-based stockbroker Veritas Securities.

The placement was being offered to new investors at 4.2¢ a share, which represented a 14 per cent discount to Hot Chili's 4.9¢ last close and an 18 per cent discount to its 15-day volume weighted average price.

Potential investors were told that money raised would go towards making a $US10 million ($13.8 million) payment as part of an option agreement for its acquisition of a 100 per cent interest in the Cortadera copper exploration project and for drilling activities at that same project.

Last week, the company announced some drilling results from the Cortadera project, which is sitting on a maiden mineral resource of 451 megatonnes at 0.46 per cent copper equivalent.

Hot Chili owns a portfolio of projects down Chile's coast, on the western side of South America.

<blockquote data-quote="Dona Ferentes" data-source="post: 1101067" data-attributes="member: 66457">copper miner Hot Chili is looking to spice up its drilling activities in South America.The $119 million company was on the hunt for a $25.6 million capital injection in a funding round pegged to close on Tuesday morning and overseen by Sydney-based stockbroker Veritas Securities.The placement was being offered to new investors at 4.2¢ a share, which represented a 14 per cent discount to Hot Chili&#039;s 4.9¢ last close and an 18 per cent discount to its 15-day volume weighted average price.Potential investors were told that money raised would go towards making a $US10 million ($13.8 million) payment as part of an option agreement for its acquisition of a 100 per cent interest in the Cortadera copper exploration project and for drilling activities at that same project.Last week, the company announced some drilling results from the Cortadera project, which is sitting on a maiden mineral resource of 451 megatonnes at 0.46 per cent copper equivalent.Hot Chili owns a portfolio of projects down Chile&#039;s coast, on the western side of South America.</blockquote>

[QUOTE="Dona Ferentes, post: 1101067, member: 66457"] copper miner Hot Chili is looking to spice up its drilling activities in South America. [I][COLOR=rgb(41, 105, 176)]The $119 million company was on the hunt for a $25.6 million capital injection in a funding round pegged to close on Tuesday morning and overseen by Sydney-based stockbroker Veritas Securities.[/COLOR][/I] [COLOR=rgb(41, 105, 176)][I]The placement was being offered to new investors at 4.2¢ a share, which represented a 14 per cent discount to Hot Chili's 4.9¢ last close and an 18 per cent discount to its 15-day volume weighted average price. Potential investors were told that money raised would go towards making a $US10 million ($13.8 million) payment as part of an option agreement for its acquisition of a 100 per cent interest in the Cortadera copper exploration project and for drilling activities at that same project. Last week, the company announced some drilling results from the Cortadera project, which is sitting on a maiden mineral resource of 451 megatonnes at 0.46 per cent copper equivalent.[/I][/COLOR] [I][COLOR=rgb(41, 105, 176)]Hot Chili owns a portfolio of projects down Chile's coast, on the western side of South America.[/COLOR][/I] [/QUOTE]

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