PERTH,
Australia, Sept. 12, 2023 /CNW/ - Hot Chili
Limited (ASX: HCH) (TSXV: HCH) (OTCQX: HHLKF) ("Hot Chili"
or the "Company") is pleased to release an updated corporate
presentation for the Precious Metals Summit being held in Bever
Creek, Colorado between the
12th and 15th September 2023. Hot
Chili's Chairman, CEO and Executive Vice President of Chile will be attending the conference and
presenting in a busy schedule of one-on-one meetings.
The presentation outlines the results of the Company's
recently completed Preliminary Economic Assessment (the "PEA") for
its Costa Fuego Copper-Gold Project (Costa Fuego or "the
Project"), located 600 km north of Santiago, at low elevation (<1,000 m) in the coastal range of the Atacama
Region, Chile.
The PEA was prepared in accordance with Canada's Standards of Disclosure for Mineral
Projects ("NI 43-101") and has outlined one of the world's lowest
capital intensity, major copper developments.
To access the presentation please click on the link.
This announcement is authorised by the Board of Directors
for release to ASX and TSXV.
Hot Chili's
Managing Director and Chief Executive
Officer Mr Christian Easterday is responsible
for this announcement and has provided sign-off for release to the
ASX and TSXV.
For more information please contact:
Christian Easterday
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Tel: +61 8 9315
9009
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Managing Director – Hot
Chili
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Email:
admin@hotchili.net.au
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Penelope Beattie
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Tel: +61 8 9315
9009
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Company Secretary – Hot
Chili
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Email: admin@hotchili.net.au
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Harbor Access
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Email:
graham.farrell@harbor-access.com
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Investor & Public
Relations (Canada)
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Email:
jonathan.paterson@harbor-access.com
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Qualifying Statements
Disclaimer
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release.
Cautionary Note for U.S. Investors Concerning Mineral Resources
NI 43-101 is a rule of the Canadian Securities Administrators
which establishes standards for all public disclosure an issuer
makes of scientific and technical information concerning mineral
projects. Technical disclosure contained in this news release has
been prepared in accordance with NI 43-101 and the Canadian
Institute of Mining, Metallurgy and Petroleum Classification
System. These standards differ from the requirements of the U.S.
Securities and Exchange Commission. ("SEC") and resource
information contained in this news release may not be comparable to
similar information disclosed by domestic United States companies subject to the SEC's
reporting and disclosure requirements.
All amounts
in this news release are in U.S. dollars unless otherwise noted.
Non IFRS Financial
Performance Measures
"Total Cash Cost", "All-in Sustaining Cost", "All-in cost LOM",
"C1", and "Free Cashflow" are not performance measures reported in
accordance with International Financial Reporting Standards
("IFRS"). These performance measures are included because these
statistics are key performance measures that management uses to
monitor performance. Management uses these statistics to assess how
the Costa Fuego Project compares against its peer projects and to
assess the overall effectiveness and efficiency of the contemplated
mining operations. These performance measures do not have a meaning
within
IFRS and, therefore, amounts presented may not be comparable to similar data presented by other mining
companies. These performance measures should not be considered in
isolation as a substitute for measures of performance in accordance
with IFRS.
Forward Looking Statements
This news release contains certain statements that are
"forward-looking information" within the meaning of Canadian
securities legislation and Australian securities legislation (each,
a "forward-looking statement"). Forward-looking statements reflect
the Company's current expectations, forecasts, and projections with
respect to future events, many of which are beyond the Company's
control, and are based on certain assumptions. No assurance can be
given that these expectations, forecasts, or projections will prove
to be correct, and such forward-looking statements included in this
news release should not be unduly relied upon. Forward-looking
information is by its nature prospective and requires the Company
to make certain assumptions and is subject to inherent risks and
uncertainties. All statements other than statements of historical
fact are forward-looking statements. The use of any of the words
"believe", "could", "estimate", "expect", "may", "plan",
"potential", "project", "should", 'toward", "up-scale", "will",
"would" and similar expressions are intended to identify forward-
looking statements.
The forward-looking statements within this news release are
based on information currently available and what management
believes are reasonable assumptions. Forward-looking statements
speak only as of the date of this news release. In addition, this
news release may contain forward-looking statements attributed to
third-party industry sources, the accuracy of which has not been
verified by the Company.
In this news release, forward-looking statements relate, among
other things, to: the Company's timing and ability to enter into a
definitive agreement with respect to the Option; the completion of
the conditions to exercise the Option; receipt of all regulatory
approvals in respect of the Option, including the approval of the
TSXV; prospects, projections and success of the Company and its
projects; the ability of the Company to expand mineral resources
beyond current mineral resource estimates; the results and impacts
of current and planned drilling to convert inferred mineral
resources to indicated, to extend mineral resources and to identify
new deposits; the Company's ability to convert mineral resources to
mineral reserves; opportunities for growth in mineral projects; the
timing and outcomes of this current and future planned economic
studies; the Company's ability to up-scale the Project to
150,000 tpa of copper production; the timing and outcomes of
regulatory processes required to obtain permits for the development
and operation of the Costa Fuego Project as contemplated in the PEA
and/or future planned economic studies; whether or not the Company
will make a development decision and the timing thereof; the
ability of the Company to consolidate additional landholdings
around its Project; estimates of cost; the ability of the Company
to complete the PFS on the timeline indicated or at all; and
estimates of planned exploration, including the
hydrogeological program at Cortadera and the Company's
planned 30,000m expansion drilling campaign across multiple
exploration targets.
Forward-looking statements involve known and unknown risks,
uncertainties, and other factors, which may cause the actual
results, performance, or achievements of the Company to be
materially different from any future results, performance or
achievements expressed or implied by the forward-looking
statements. A number of factors could cause actual results to
differ materially from a conclusion, forecast or projection
contained in the forward-looking statements in this news release,
including, but not limited to, the following material factors: the
ability of the Company to complete the conditions to exercise the
Option; obtaining all regulatory approvals for the completion of
the Option; operational risks; risks related to the cost estimates
of exploration; sovereign risks associated with the Company's
operations in Chile; changes in
estimates of mineral resources of properties where the Company
holds interests; recruiting qualified personnel and retaining key
personnel; future financial needs and availability of adequate
financing; fluctuations in mineral prices; market volatility;
exchange rate fluctuations; ability to exploit successful
discoveries; the production at or performance of properties where
the Company holds interests; ability to retain title to mining
concessions; environmental risks; financial failure or default of
joint venture partners, contractors or service providers;
competition risks; economic and market conditions; and other risks
and uncertainties described elsewhere in this news release and
elsewhere in the Company's public disclosure record.
Although the forward-looking statements contained in this news
release are based upon assumptions which the Company believes to be
reasonable, the Company cannot assure investors that actual results
will be consistent with these forward- looking statements. With
respect to forward-looking statements contained in this news
release, the Company has made assumptions regarding: future
commodity prices and demand; availability of skilled labour; timing
and amount of capital expenditures; future currency exchange and
interest rates; the impact of increasing competition; general
conditions in economic and financial markets; availability of
drilling and related equipment; effects of regulation by
governmental agencies; future tax rates; future operating costs;
availability of future sources of funding; ability to obtain
financing; and assumptions underlying estimates related to adjusted
funds from operations. The Company has included the above summary
of assumptions and risks related to forward-looking information
provided in this news release to provide investors with a more
complete perspective on the Company's future operations, and such
information may not be appropriate for other purposes. The
Company's actual results, performance or achievement could differ
materially from those expressed in, or implied by, these
forward-looking statements and, accordingly, no assurance can be
given that any of the events anticipated by the forward-looking
statements will transpire or occur, or if any of them do so, what
benefits the Company will derive therefrom.
For additional information with respect to these and other
factors and assumptions underlying the forward-looking statements
made herein, please refer to the public disclosure record of the
Company, including the Company's most recent Annual Report, which
is available on SEDAR+ (www.sedarplus.ca) under the Company's
issuer profile. New factors emerge from time to time, and it is not
possible for management to predict all those factors or to assess
in advance the impact of each such factor on the Company's business
or the extent to which any factor, or combination of factors, may
cause actual results to differ materially from those contained in
any forward-looking statement.
The forward-looking statements contained in this news release
are expressly qualified by the foregoing cautionary statements and
are made as of the date of this news release. Except as may be
required by applicable securities laws, the Company does not
undertake any obligation to publicly update or revise any
forward-looking statement to reflect events or circumstances after
the date of this news release or to reflect the occurrence of
unanticipated events, whether as a result of new information,
future events or results, or otherwise. Investors should read this
entire news release and consult their own professional advisors to
ascertain and assess the income tax and legal risks and other
aspects of an investment in the Company.
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SOURCE Hot Chili Limited