Post by Marcelo Salas

Hot Chili Secures US$15 Million from OR Royalties, Adding La Verde to the Costa Fuego Royalty Footprint A pre-resource copper deposit has just attracted US$15 million of non-dilutive capital. On 7 July 2026 Hot Chili Limited (ASX: HCH, TSXV: HCH) executed a binding Amended and Restated Investment Agreement with OR Royalties Inc., formerly Osisko Gold Royalties, granting a net smelter return royalty over the La Verde project inside the wider Costa Fuego copper-gold project in coastal Chile, for a cash payment of US$15 million. That takes total OR royalty consideration to US$30 million, on top of the original US$15 million agreed in June 2023. The royalty runs at 1.0 per cent of payable copper and 3.0 per cent of payable gold, equivalent to about 1.12 per cent copper-equivalent across payable metals. Closing is expected in July 2026. Managing Director Christian Easterday noted that OR is committing to a deposit carrying no defined resource, against a 2023 investment made when Costa Fuego had a published PEA and a 725 Mt indicated resource, since superseded by the 798 Mt indicated resource behind the March 2025 prefeasibility study. The funding sequence now reads A$40 million of equity in February 2026 followed by roughly A$21.3 million of non-dilutive royalty proceeds, against a market capitalisation near US$280 million. Three rigs are turning at La Verde ahead of a maiden resource estimate and a revised Costa Fuego prefeasibility study. For LatAm copper supply chains, royalty capital keeps funding the pre-construction phase of mid-tier Chilean copper while bank debt waits on a completed study. Is royalty and stream capital now the default bridge for mid-tier copper developers ahead of project finance? We would value your read. @HotChiliLimited @ORRoyalties @Plusmining #copper #Chile #CostaFuego #royalties #projectfinance #mining Chile's copper is outgrowing the ports that move it: rising concentrate volumes against urban, constrained terminals. For an Australian METS exporter, is that congestion a wall, or the opening you have been waiting for? That gap, ports, permits, politics, the people, is what Plusmining closes for Australian miners, METS exporters and investors. Put your answer below and we will point you to the data behind it. Full article: https://lnkd.in/gDq8VNPC