Hot Chili (HCH) Q1 2027 TU earnings summary

Executive summary

• Step-out assays confirmed La Verde South, a second porphyry centre; the mineralised footprint now extends 1,400 m across two centres, increasing the project’s growth potential.

• Phase 2 infill and extension drilling finished after 13 months and 40,000 m; total La Verde drilling reached 50,000 m.

• Revised Costa Fuego PFS and EIA work advanced, with the maiden La Verde resource estimate and EIA submissions progressing to plan.

Financial highlights

• Cash was A$29.3m at 30 September 2026, with no debt; quarter-end cash runway was reported at 2.29 quarters.

• Quarter operating cash outflow was A$2.6m; exploration and evaluation investing outflow was A$10.1m, partly offset by A$20.4m net OR royalty proceeds.

• Cash interest received was A$183,000; staff costs were A$1.3m and administration and corporate costs were A$1.5m for the quarter.

Outlook and guidance

• Maiden La Verde MRE, revised Costa Fuego PFS and EIA preparation remained on track; both EIA submissions are targeted for Q2 2027.

• La Verde drilling is expected to restart in early 2027, focused on La Verde South growth; completion of Phase 2 is expected to materially reduce exploration spending in subsequent quarters.

• 35 drill-hole assays were pending: 24 infill and 11 southern step-out holes.