Applecross-based Hot Chili has announced multiple changes to its board, including the departure of non-executive chair Dr Nicole Adshead-Bell, effective immediately.
Applecross-based Hot Chili will raise up to $29.9 million courtesy of a private placement, in a bid to further progression at its Costa Fuego copper-gold development in Chile, located 600km from Santiago.
Shares in the Chile-focused copper play closed 16 per cent higher after confirming its biggest shareholder had reserved more than half of copper output from its Costa Fuego project.
Shares in Perth-based Hot Chili have risen by more than 20 per cent after the copper explorer said it had secured funds to complete its purchase of an overseas project.
Copper explorer Hot Chili is targeting its first resource estimate for two projects in South America after announcing an oversubscribed $5 million placement and $3.9 million rights issue, with majority of the funds going towards a drilling restart at the Cortadera project in Chile.
Three junior miners are undertaking capital raisings, with Amani Gold set to raise at least $3.7 million, Hot Chili $3.2 million, and $3 million for Capricorn Metals.
Chile-focused copper explorer Hot Chili has received firm commitments for an $8.1 million capital raising to fund ongoing work on its Productora project.
While most media attention seems focused on iron ore and the major operators, there's a number of smaller players offering plenty of potential across a range of minerals. Here's the WA Business News 10 mining stocks to watch.
