Hot Chili (HCH) Q3 2026 TU earnings summary

Executive summary

• Raised A$40 million via private placement to accelerate Costa Fuego project development, with strong institutional and shareholder support.

• Ausenco appointed as lead engineering firm for Costa Fuego Feasibility Study, leveraging experience from similar projects.

• Drilling at La Verde discovery delivered the widest and highest-grade intersections to date, expanding the high-grade core and outlining a potential higher-grade starter pit.

• Strategic partnering process advanced, with multiple parties in due diligence and several non-binding proposals received.

Financial highlights

• Closed A$40 million private placement, issuing 24.2 million shares and 1.2 million broker options.

• Cash position at 31 March 2026 was A$35.2 million, with no debt.

• Operating expenditure for the quarter included A$0.7 million in staff costs and A$1.7 million in administration and corporate costs.

• Investing expenditure included A$2.3 million for tenements and A$3.1 million for exploration and evaluation.

Outlook and guidance

• Focus on delivering a maiden Mineral Resource at La Verde, integrating it into an expanded mine plan, and advancing feasibility and environmental studies.

• Proceeds from the placement will fund drilling, feasibility, EIA submission, and ongoing exploration.

• Estimated 6.4 quarters of funding available at current expenditure rates.