Latest news with #Feasibility
Yahoo
3 days ago
- Business
- Yahoo
Atlas Salt is Advancing the Great Atlantic Salt Project with an Updated Feasibility Study
ST. JOHN'S, NF AND LABRADOR / / June 9, 2025 / Atlas Salt Inc. ("Atlas Salt" or the "Company") (TSXV:SALT)(OTCQB:REMRF) is advancing an Updated Feasibility Study (the "UFS" or "FUS") for the Great Atlantic Salt Project (the "Project") in Newfoundland and Labrador, Canada. Building on the Feasibility Study completed in 2023, this UFS will incorporate significant advancements and optimizations to enhance the Project's development strategy. The UFS will focus on optimizing the production rate while balancing capital expenditure, refining mine planning parameters, and integrating recently completed technical studies to improve operational efficiency and economic outcomes; with the ultimate objective of supporting ongoing financing activities. Key Objectives of the Updated Feasibility Study Production Optimization: Assessment of an increased, optimized production rate taking into consideration mine design, throughput capabilities, and market alignment. Refined Mine Plan and Scheduling: Incorporation of updated geotechnical findings, ventilation, and infrastructure requirements to support an efficient development timeline. Processing and Product Mix Enhancements: Refinements to the fines segregation circuit to accommodate both screened mediums for commercial contracts and ASTM D632 bulk road salt, enhancing market flexibility. Integration of Sandvik Mining Equipment: Advancing our memorandum of understanding with Sandvik Mining and Rock Solutions ("Sandvik") through optimization of underground operations by implementing Sandvik Mining Equipment to improve efficiency and reduce operating costs. Updated Economic Analysis: A revised financial model, including updated capital and operating cost estimates, cash flow projections, and key economic indicators such as Net Present Value (NPV) and Internal Rate of Return (IRR). Regulatory Compliance and Permitting Integration: Inclusion of all post-Environmental Assessment release conditions to ensure seamless regulatory alignment. SLR Consulting Ltd. ("SLR"), the lead consultant on the original Feasibility Study, brings extensive experience in mineral resource and reserve assessments, underground mine design, and NI 43-101 Technical Reports. As the lead consultant on the original Feasibility Study, SLR's continuity on this project will ensure a seamless transition and a robust evaluation of the updated development strategy. Patrick Laracy, Chairman & Interim CEO of Atlas Salt, commented: "The initiation of this Updated Feasibility Study marks another important step toward optimizing and advancing the Great Atlantic Salt Project. With SLR's proven expertise and our team's commitment to execution, we are refining our development strategy to maximize value while maintaining the lowest-cost production model. The enhancements incorporated into this study will further de-risk the Project and strengthen our positioning in the North American salt market and increase our attractiveness with major financiers." The Updated Feasibility Study is expected to be completed by Q3 2025, with results providing critical inputs for finalizing financing and development strategies. Financing Update As announced previously (see news release of December 10, 2024) Endeavour Financial has been engaged by the Company to lead the arrangement of project financing for the Great Atlantic Salt Project. Endeavour will continue to progress the project financing process while the UFS work is underway, and completion of the UFS will enable Endeavour and potential lenders to incorporate the Project's updated technical and economic parameters into their evaluations, forming the basis for financing arrangements. The Company will provide updates on the timing and details of financing activities as they advance. Compensation Securities Issued The Company also announces that it has issued compensation securities to certain officers of the Company. A total of 800,000 performance share units have been issued with vesting tied to the achievement of certain objectives but in any event not before June 9, 2026. A total of 700,000 restricted share units ("RSUs") have been issued with 150,000 RSUs vesting on June 9, 2026, 275,000 RSUs vesting on June 9, 2027, and 275,000 RSUs vesting on June 9, 2028. A total of 600,000 stock options have been granted, with an exercise price of $0.49, expiring on June 9, 2030, with 300,000 stock options vesting on June 9, 2026, and 300,000 stock options vesting on June 9, 2027. For further information and ongoing updates, please visit The scientific and technical information contained in this news release has been approved by Andrew Smith, ICD.D, Project Director and General Manager, who is a "Qualified Person" for the purposes of NI 43-101. About Atlas Salt Inc. Atlas Salt Inc. is developing Canada's next salt mine and is committed to responsible and sustainable mining practices. With a focus on innovation and efficiency, the company is poised to make significant contributions to the North American salt market while upholding its values of environmental stewardship and community engagement. For information, please contact: Patrick Laracy, Chairmaninvestors@ 739-9545 We seek safe harbor. Cautionary Statement Neither the TSX Venture Exchange nor its Regulation Services Provider, (as the term is defined in the Policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This press release includes certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein, without limitation, statements relating to the future operating or financial performance of the Company, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. Forward-looking statements in this press release relate to, among other things: obtaining financing, completion, delivery and timing of project components and requirements, and analysis and assumptions related thereto. Actual future results may differ materially. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business, technical, economic, and competitive uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: the timing, completion and delivery of required permits, supply arrangements and financing. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times. Except as required by law, the Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law. SOURCE: Atlas Salt Inc. View the original press release on ACCESS Newswire
India Gazette
24-05-2025
- Politics
- India Gazette
Arunachal villagers embrace SUMP project, marking a milestone in water security and strategic sovereignty
Boleng (Arunachal Pradesh) [India], May 24 (ANI): In a significant development, the villagers of Pangkang (Kumku) signed a Memorandum of Understanding (MoU) with the Arunachal Pradesh government to begin the Preliminary Feasibility Report (PFR) for Siang Upper Multipurpose Project (SUMP) at Boleng in Siang district. On Friday, the Arunachal Pradesh Minister for Panchayati Raj, State Transport, and Cooperation, Ojing Tasing; Joint Secretary for Hydropower, Hage Lailang; Chief Engineer for Hydropower, Atek Miyu; and BJP Arunachal Pradesh General Secretary and Special Emissary of the Government, Nalong Mize, witnessed a significant accord. Representing the community's consent and enthusiasm, Pangkang (Kumku) leaders Taba Tamut and Bakin Tali stood on behalf of the majority of local residents. Siang Deputy Commissioner P N Thungon, representing the state government, signed the MoU with Taba Tamut and Bakin Tali. The proposed SUMP promises transformative benefits for the local community in addition to strategic defense and environmental resilience. According to the MoU, a development package of Rs 5 crore over three years will be rolled out, overseen by a newly constituted Village Development Committee (VDC). This Committee, composed of likely project-affected families, will spearhead village infrastructure improvements, health services, and livelihood programs, ensuring the fruits of the special development initiatives are rooted in the community and leading to equitable growth. The MoU also guarantees future consultations with local stakeholders as the project progresses, reaffirming the government's commitment to inclusive planning and development, keeping in view local priorities. As envisaged by the government, the SUMP is not just another hydroelectric project. Besides providing economic empowerment to the local community and being a significant source of clean and sustainable energy, it will be designed as a strategic counterbalance to China's rapid construction of multiple hydropower dams on the Yarlung Tsangpo (upstream section of the Siang River in Tibet). As India's northern neighbour accelerates its water infrastructure ambitions, the SUMP is envisioned as a timely and critical initiative to mitigate potential downstream risks from sudden upstream discharges and ensure year-round river flow vital for agriculture, drinking water, and ecological balance in Northeast India. 'The villagers of Pangkang (Kumku) have shown incredible wisdom and maturity by deciding to cooperate with the government in the conduct of PRF for SUMP,' Deputy Commissioner Thungon said. 'This is not only about power or water. It is about harnessing the potential of River Siang for collective prosperity of the local area, state and the nation,' he added. (ANI)
Business Wire
15-05-2025
- Business
- Business Wire
NMG Provides an Update on its Development Plan, Publishes its 2024 ESG Report and Announces New Board Nominees ahead of its Annual General and Special Meeting of Shareholders
MONTRÉAL--(BUSINESS WIRE)--Following the issuance of the NI 43-101 Updated Technical Feasibility Study Report for the Matawinie Mine and Bécancour Battery Material Plant Integrated Graphite Projects (the 'Updated Feasibility Study'), Nouveau Monde Graphite Inc. ('NMG' or the 'Company') (NYSE: NMG, TSX: NOU) is advancing its Phase-2 commercial plans with progressing work on the project financing, engineering, procurement and construction preparation. The Company also files its 2024 ESG Report that demonstrates continued stewardship of environmental, social and governance ('ESG') issues aligned with global decarbonization efforts and international standards as required by lenders, investors, and customers. Arne H Frandsen, Chair of NMG, said: 'NMG is cleverly navigating the shifting global market, while steadfastly maintaining its ESG commitments. Our business model, rooted in the clean energy transition, strives to capitalize on Western economies' growing appetite for critical minerals, local and ESG-compliant supply chains, as well as reshoring manufacturing capacity. Our commercial agreements with Panasonic Energy and General Motors along with strong interest from strategic lenders and institutional investors strengthen our plans to develop a responsible and carbon-neutral source of active anode material, positioning NMG as a sustainable and innovative supplier for long-term growth.' Eric Desaulniers, Founder, President, and CEO of NMG, declared: 'Consumer demand for electric vehicles ('EV') is undisputable and catalyzes the battery value chain, a strong driver for active anode material. Facing steep tariffs and tightening supplies, manufacturers are seeking alternatives to Chinese active anode material. NMG's ore-to-battery-material Phase-2 Matawinie Mine and Bécancour Battery Material Plant are timely set to enter market, offering simplified trade corridors, ESG compliance, reliability, and a scalable source.' Technical Development & Execution Strategy On the heels of the Updated Feasibility Study, NMG is actively advancing the project development in preparation for the final investment decision ('FID') through engineering, negotiation of contracts with key suppliers, preparation of call for tenders for construction, value engineering and schedule optimization. Engineering for both the Matawinie Mine and Bécancour Battery Material Plant is progressing thanks to engagement with equipment vendors, specialized firms, and technological advancement. NMG is namely working on the purification process to refine environmental performance, operational, and financial parameters leveraging data from test results and sampling production at partnering facilities. The Company has enlisted specialized Asian firms with expertise in the graphite and anode material industry to support technical development. In parallel, NMG has presented the Updated Feasibility Study results to its Anchor Customers, potential lenders, and targeted institutional equity investors as part of the financing stage. To date, the Company has received cumulative expressions of approximately $1.6 billion and identified a potential for securing approximately $450 million through the new refundable Canadian Investment Tax Credit for Clean Technology Manufacturing. Numerous advanced stage due diligence exercises, supported by specialized firms, are proceeding concurrently to examine the corporate, technical, market, and ESG components of NMG's planned Phase-2 operations and guide financial stakeholders' risk assessment. ESG & Corporate Matters As the Company continues to advance its Phase-2 project financing and future commercial operations, NMG continues to strengthen its intendance of material ESG issues aligning with internationally recognized practices endorsed by potential lenders, institutional investors, and customers. In addition to its proactive climate action, significant milestones this year include the addition of scenario analysis to the Company's climate risk management, the signature of an impact and benefit agreement with the Atikamekw First Nation of Manawan, the expansion biodiversity efforts, a notable improvement in the Company's CDP climate score, and strengthened community and Indigenous engagement. This performance, combined with a demonstrated governance framework and a focus on responsible business practices, position NMG as a leader in sustainable graphite production (Benchmark Mineral Intelligence, March 2025). NMG's 2024 ESG Report can be consulted on the Company's website. The Company is committed to the safe and responsible conduct of operations. For the twelve-month rolling period ended March 31, 2025, NMG reported a total recordable injury frequency rate ('TRIFR') of 1.77 and severity rate of 2.65 at the Company's facilities. In 2024, NMG maintained its track record with no major environmental incidents. To mark the Company's uplisting to the Toronto Stock Exchange, NMG's leadership took advantage of an investor and financing tour to open the market on April 24, 2025. Considering the change of technology and upcoming lease expiry for the industrial space in Olin's facility in Bécancour, NMG has initiated the decommissioning of its Phase-1 Purification Plant. The remaining of the Phase-1 operations located in Saint-Michel-des-Saints are operating as usual for the foreseeable future to continue producing flake concentrate from the Matawinie deposit, as well as preparing and testing large-scale qualifying active anode material samples for actual and potential tier-1 customers. At the end of the period, the Company had a cash position of $89 million. Market Perspectives The graphite and battery sectors are undergoing rapid transformation, driven by the adoption of EVs and energy storage systems ('ESS'). During the period, global EV sales went up 29% compared to the same period last year, with Europe bouncing back at +22% and North America at +16% (Benchmark Mineral Intelligence, April 2025). The global ESS market grew 65% year-over-year (Rho Motion, April 2025). This growth reverberates upstream in battery manufacturing. The lithium-ion battery production pipeline is now estimated to reach 9,300 GWh by 2030, with Europe driving the highest demand after China (Benchmark Mineral Intelligence, April 2025). NMG's Anchor Customer GM announced that its EV battery production has now surpassed that of Tesla in the U.S. (Bloomberg, April 2025). While market growth presents significant opportunities, supply chain vulnerabilities and geopolitical tensions pose challenges, particularly for North America. Efforts are underway to diversify and localize production considering the region remains heavily reliant on imports; the U.S. was 100% dependent on foreign graphite to meet its demand in 2024 (Benchmark Mineral Intelligence, April 2025). North America faces challenges in establishing a domestic graphite supply chain; the U.S. International Trade Commission is investigating trade activities following a petition from the American Active Anode Material Producers seeking antidumping and countervailing duties on Chinese imports (Bloomberg, January 2025). Moreover, tension and reciprocal measures escalated between the U.S. and China during the period. U.S. manufacturers face steep tariffs on Chinese graphite and anode material. Analysts predict a positive shift toward ex-China natural graphite anode materials as a result (Fastmarkets, April 2025). Amid the global graphite market unprecedented turbulence, U.S. executive orders and policies, including the Export-Import Bank of the United States' ('EXIM') Supply Chain Resiliency Initiative that enables the financing of international projects with offtake critical minerals agreements with U.S. companies, emphasize the importance and urgency of securing the raw materials needed for energy applications and national security. Annual General and Special Meeting of Shareholders NMG will hold its annual general and special meeting of shareholders (the 'Meeting') on Tuesday, June 17, 2025, at 10 a.m. (Eastern Time) via live webcast at NMG is holding the Meeting as a completely virtual meeting, which all shareholders, regardless of geographic location, will have an equal opportunity to attend. Items on the agenda include (a) the presentation of the Company's consolidated audited financial statements for the fiscal years ended December 31, 2024, and 2023, and the independent auditor's report thereon; (b) the election of directors named in the management information circular; (c) the appointment of the external auditor; (d) the ratification and confirmation of the Company's omnibus plan, and (e) the approval of the 1,922,500 stock options granted to directors, officers and employees of the Company approved by the Board of Directors on April 1, 2025 which will be subject to the omnibus plan of the Corporation. Registered shareholders and duly appointed proxyholders are encouraged to vote their shares in advance of the Meeting. Directors Arne H Frandsen, James Scarlett and Andrew Willis indicated that they will not stand for re-election. The Board of Directors and the Company wish to wholeheartedly express gratitude for their dedicated service and contribution during their tenure. Eric Desaulniers, Founder, President, and CEO of NMG, added: 'On my behalf and that of our employees, directors and shareholders, I want to thank Arne, James and Andrew for their service to the development and governance of NMG. We have gained tremendously from their guidance and insight, to help position the Company in a bustling sector, rally strategic investors and establish commercial agreements with our Anchor Customers. Thank you!' The Board of Directors proposes two new candidates as nominees for directorship, namely Paola Farnesi and Édith Jacques, in complement to directors who stand for re-election: Daniel Buron, Eric Desaulniers, Stéphane Leblanc, Nathalie Pilon, and Chantal Sorel. Paola Farnesi is a senior financial professional with over 30 years of experience in corporate finance, financial reporting, mergers and acquisitions ('M&A') and risk management. She is currently Vice-President and Treasurer of Domtar Corporation, after having held several leadership positions at Domtar Corporation and having worked at Ernst & Young. Édith Jacques is a partner and Chair of the Board at Lavery Lawyers in Montréal, specializing in mergers and acquisitions, commercial, and international law. She advises mid- and large-sized companies on strategic business matters, including domestic and cross-border transactions, and is recognized for her pragmatic approach and leadership in the manufacturing and energy sectors. The meeting will be complemented with a corporate presentation by Founder, President and CEO Eric Desaulniers providing an update on the Company's key projects, commercial engagement, and growth plan. Shareholders entitled to vote at the meeting will be those who are shareholders as at the close of business on the record date, being May 2, 2025. Electronic copies of the notice of meeting, the management information circular, the proxy form, the voting instruction form and the financial statements are or will be available, as the case may be, on the Company's SEDAR+ and EDGAR profile, NMG's website and at The Company's financial reports, 2024 Annual Report and 2024 ESG Report are also posted online on NMG's website for ease of consultation. About Nouveau Monde Graphite Nouveau Monde Graphite is an integrated company developing responsible mining and advanced processing operations to supply the global economy with carbon-neutral active anode material to power EV and renewable energy storage systems. The Company is developing a fully integrated ore-to-battery-material source of graphite-based active anode material in Québec, Canada. With recognized ESG standards and structuring partnerships with anchor customers, NMG is set to become a strategic supplier to the world's leading lithium-ion battery and EV manufacturers, providing advanced materials while promoting sustainability and supply chain traceability. Subscribe to our news feed: Cautionary Note Regarding Forward-Looking Information This press release contains 'forward-looking information' and 'forward-looking statements' within the meaning of applicable securities legislation (collectively, 'forward-looking statements'), including, but not limited to, statements relating to future events or future financial or operating performance of the Company and reflect management's expectations and assumptions regarding the Company's growth, results, performance and business prospects and opportunities. Such forward-looking statements reflect management's current beliefs and are based on information currently available to it. These forward-looking statements include, but are not limited to, the Company's ability to fulfill the conditions precedent of the offtake agreements, the Company's ability to secure a positive FID, to develop a fully integrated ore-to-battery-material source of graphite-based active anode material in the Province of Québec, to become a strategic supplier to the world's leading lithium-ion battery and EV manufacturers, to provide performing and reliable advanced materials while promoting sustainability and supply chain traceability, and to position its integrated graphite operation in capital markets, the completion of the Phase-2 Matawinie Mine and Bécancour Battery Material Plant, the assistance of specialized Asian firms with expertise in the industry to support the technical development, the continuity of the market conditions and geopolitical dynamics create a favorable landscape for our transition to commercial operations, the Western economies' growing appetite for critical minerals, and the Company's ability to capitalize on such growing appetite and to capitalize on governments' efforts to reshore manufacturing, secure the critical minerals needed, and reduce dependencies on competing economies, the execution of agreements with First Nations, communities and key stakeholders on favorable terms for the Company, the implementation of the agreement with the Atikamekw of Manawan, the Company's future role in supporting North America's efforts to reshore critical mineral production, reducing dependency on foreign supply chains and strengthening the continent's energy transition, the continuity of the clean energy transition, the increased demand for battery production, the expected results of the initiatives described in this press release, and those statements which are discussed under the 'About Nouveau Monde' paragraph and elsewhere in the press release which essentially describe the Company's outlook and objectives. Forward-looking statements are based upon a number of estimates and assumptions that, while considered reasonable by the Company as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions are not guarantees of future performance and may prove to be incorrect. Moreover, these forward-looking statements are based upon various underlying factors and assumptions, including the current technological trends, the business relationship between the Company and its stakeholders, the ability to obtain sufficient financing for the development of the Matawinie Mine and the Bécancour Battery Material Plant, the Company's ability to provide high-performing and reliable advanced materials while promoting sustainability and supply chain traceability, the consumers demand for components in lithium-ion batteries for EVs and energy storage solutions, the ability to operate in a safe and effective manner, the timely delivery and installation at estimated prices of the equipment supporting the production, assumed sale prices for graphite concentrate, the accuracy of any Mineral Resource estimates, future currency exchange rates and interest rates, political and regulatory stability, prices of commodity and production costs, the receipt of governmental, regulatory and third party approvals, licenses and permits on favorable terms, sustained labor stability, stability in financial and capital markets, availability of equipment and critical supplies, spare parts and consumables, the various tax assumptions, CAPEX and OPEX estimates, all economic and operational projections relating to the project, local infrastructures, the Company's business prospects and opportunities and estimates of the operational performance of the equipment , and are not guarantees of future performance. Forward-looking statements are subject to known or unknown risks and uncertainties that may cause actual results to differ materially from those anticipated or implied in the forward-looking statements. Risk factors that could cause actual results or events to differ materially from current expectations include, among others, delays in the scheduled delivery times of the equipment, the ability of the Company to successfully implement its strategic initiatives and whether such strategic initiatives will yield the expected benefits, the availability of financing or financing on favorable terms for the Company, the dependence on commodity prices, the impact of inflation on costs, the risks of obtaining the necessary permits, the operating performance of the Company's assets and businesses, competitive factors in the graphite mining and production industry, changes in laws and regulations affecting the Company's businesses, political and social acceptability risk, environmental regulation risk, currency and exchange rate risk, technological developments, the impacts of the global COVID-19 pandemic and the governments' responses thereto, and general economic conditions, as well as earnings, capital expenditure, cash flow and capital structure risks and general business risks. A further description of risks and uncertainties can be found in NMG's Annual Information Form dated March 31, 2025, including in the section thereof captioned 'Risk Factors', which is available on SEDAR+ at and on EDGAR at Unpredictable or unknown factors not discussed in this Cautionary Note could also have material adverse effects on forward-looking statements. Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are provided for the purpose of providing information about management's expectations and plans relating to the future. The Company disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.
Yahoo
30-04-2025
- Business
- Yahoo
Hot Chili Quarterly Report
Period Ending 31 March 2025 PERTH, Australia, April 24, 2025 /CNW/ - Highlights Hot Chili Announces Preliminary Feasibility Study (PFS) & Maiden1 Ore Reserve2 for the Costa Fuego Cu-Au Project Low-risk, Chilean coastal copper development with advanced permitting - multi-decade mine life, top quartile copper production scale3 and lowest quartile capital intensity Strong economics and leverage to rising copper price: Post-tax Net Present Value (NPV8%) of US$1.2 billion (approximately, within a range of US$786 million to US$1.62 billion) and post-tax Internal Rate of Return (IRR) of 19% (approximately, within a range of 15% to 22%) Maiden ore reserve for Costa Fuego Copper-Gold Project (Costa Fuego) lowers operational risk1,2: Probable Ore Reserves of 502 Mt at 0.37% Cu, 0.10 g/t Au, 0.49 g/t Ag and 97 ppm Mo: Across sulphide concentrator, oxide leach and low-grade sulphide leach processing streams Hot Chili Announces PFS for Huasco Water & MOU for Seawater Supply to Costa Fuego Strong economics for a large, multi-user, water business opportunity Stage 1 PFS4 for 500L/s of potential seawater supply to Costa Fuego Post-tax NPV8% of US$122 million and IRR of 19% Staged approach for regional, desalinated water supply with large 4,000 L/s catchment of potential off-takers Stage 2 PFS for 1,300 L/s of potential desalinated water supply Post-tax NPV8% of US$977 million and IRR of 19% First-Mover Advantage, only active maritime licence in the Huasco Valley region of Chile Hot Chili Confirms Major Cu-Au Porphyry Discovery at La Verde Multiple new significant drill intersections underpin rapidly growing oxide and sulphide discovery, located 30km south of Costa Fuego, providing significant potential for front-end, open pit, mine life growth Phase 1 drill programme completed on 10 April 2025, phase 2 planned and awaiting regulatory approval Assay results for nineteen holes pending and second Environmental Impact Assessment (EIA) commenced to integrate La Verde into Costa Fuego and materially enhance project economics A$7.5M Cash and A$5.0M in Returns Expected (VAT and JV recoup) Expenditure reduced by 60% to 65% over next six months during Definitive Feasibility Study (DFS) planning & PFS optimisation phases Potential Strategic Funding Discussions Advancing Strong interest in asset-level investment opportunities for Costa Fuego and Huasco Water __________ 1 Hot Chili previously released Ore Reserves for Productora, a component of Costa Fuego, in the ASX announcement 'Hot Chili Delivers PFS and Near Doubles Reserves at Productora' 2 March 2016. Maiden Ore Reserve for Cortadera and San Antonio and Alice deposits, and updated Ore Reserve for Productora and as a whole Costa Fuego. 2 Hot Chili is a dual listed entity and complies with the JORC 2012 code for the ASX for the reporting of Exploration Results, Mineral Resources and Ore Reserves. The company complies with CIM Definition Standards for Mineral Resources and Mineral Reserves (10 May 2014) that are incorporated by reference into NI 43-101 for the TSXV. Terminology of Ore Reserves and Mineral Reserves are interchangeable and have the same meaning within this announcement. 3 S&P Market Intelligence. The Global Developer Peer Group of project studies were selected on the following basis: Global primary copper projects (not controlled by a major miner), with net by-product credits where applicable, reporting studies of average annual life-of-mine copper production of greater than 40 kt, which have been published within the last 5 years. 4 The Huasco Water Supply PFS has been aligned with the preliminary feasibility study for the Company's Costa Fuego project (the "Costa Fuego PFS") and shares the same assumptions for Costa Fuego in stage 1. See announcement dated 27th March 2025 "Hot Chili Announces PFS & Maiden Mineral Reserve for the Costa Fuego Cu-Au Project" outlining the results of the Costa Fuego PFS. An independent technical report for the Costa Fuego PFS, prepared in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") and JORC Code 20212 within 45 days thereof. Cautionary Statement – JORC Code (2012) The Preliminary Economic Assessment referred to in this Report is equivalent to a Scoping Study under JORC Code (2012) reporting guidelines. It has been undertaken for the purpose of initial evaluation of a potential development of the Costa Fuego Copper Project in Chile. It is a preliminary technical and economic study of the potential viability of the Costa Fuego Copper Project. The PEA outcomes, production target and forecast financial information referred to in the Report are based on low level technical and economic assessments that are insufficient to support estimation of Ore Reserves. The PEA is presented in US dollars to an accuracy level of +/- 35%. While each of the modifying factors was considered and applied, there is no certainty of eventual conversion to Ore Reserves or that the production target itself will be realised. Further exploration and evaluation and appropriate studies are required before Hot Chili will be in a position to estimate any Ore Reserves or to provide any assurance of any economic development case. Given the uncertainties involved, investors should not make any investment decisions based solely on the results of the the Mineral Resources scheduled for extraction in the PEA production plan, approximately 99% are classified as Indicated and 1% as Inferred. The Company has concluded that it has reasonable grounds for disclosing a production target which includes a small amount of Inferred Mineral Resources, as permitted under the JORC Code. There is a low level of geological confidence associated with Inferred Mineral Resources and there is no certainty that further exploration work will result in the determination of Indicated Mineral Resources or that the production target itself will be realised. The viability of the development scenario envisaged in the PEA does not depend on the inclusion of Inferred Mineral Resources. However, it is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Measured or Indicated Mineral Resource with continued Mineral Resources underpinning the production target in the PEA have been prepared by a competent person in accordance with the requirements of the JORC 2012. For full details on the Mineral Resource estimate, please refer to the ASX announcement of 31 March 2022. The Mineral Resource Estimate update released in February 2024 does not materially change the Mineral Resource inventory that formed the basis of the 2023 PEA, and no new scientific or technical information has been developed that would materially affect the outcome of the 2023 PEA and, therefore, the results and conclusions of the 2023 PEA are considered current and have been restated for this achieve the outcomes indicated in the PEA, including reaching Definitive Feasibility Study ("DFS"), mine construction and production stages, funding in the order of US$1.10 Billion will be required, including pre-production and working capital and assumed financing charges. Investors should note that that there is no certainty that Hot Chili will be able to raise that amount of funding when needed. One of the key assumptions is that the funding for the Project will be available when required and on acceptable terms. It is also possible that such funding may only be available on terms that may be dilutive to, or otherwise affect the value of, Hot Chili's existing shares. It is also possible that Hot Chili could pursue other value realisation strategies such as debt financing, a sale or partial sale of its interest in the Costa Fuego Copper Project and/or Huasco Water, sale of further royalties and/or streaming rights, sale of non-committed offtake rights, and sale of non-core Report contains forward-looking statements. Hot Chili has concluded that it has a reasonable basis for providing these forward-looking statements and believes it has a reasonable basis to expect it will be able to fund development of the Costa Fuego Copper Project. However, a number of factors could cause actual results or expectations to differ materially from the results expressed or implied in the forward-looking statements. Given the uncertainties involved, investors should not make any investment decisions based solely of the results of the PEA. SUMMARY OF OPERATIONAL ACTIVITIES Costa Fuego PFS Delivered On-Time & Within Guidance The Costa Fuego PFS was announced on 27th March 2025. The PFS delivered globally meaningful scale and a multi-decade project life for Costa Fuego. Highlights included: Globally Meaningful Scale & Multi-Decade Mine Life Project Life Extended to 20 Years Average Annual Production Increased 116 ktpa Average CuEq1 Production Rate: Including 95 kt Cu and 48 koz Au during primary production (first 14 years) Competitive Cost Position: Life of mine (LOM) average C1 Cash Cost2 of US$ 1.38/lb and All-in-Sustaining Cost of US$1.85/lb (both estimated net of by-product credits) Increase in Total Copper and Gold Production: 1.5 Mt Cu (3.31 Blb Cu) and 780 koz Au produced over the LOM Robust Financial Profile: Total LOM revenue of approximately US$17.3 billion and total LOM free cash flow of approximately US$3.86 billion (post-tax, after operating costs, capital costs, and royalties) Significant Risk Reduction: PFS prepared assuming ± 25% accuracy. An additional US$442 million of capital costs applied to significantly reduce key areas of risk, including changes in project scope and inflationary pressures Strong Economics and Leverage to Rising Copper Price Post-tax NPV8% of US$1.2 billion (approximately, within a range of US$786 million to US$1.62 billion) and post-tax IRR of 19% (approximately, within a range of 15% to 22%) First Quartile Capital Intensity: Start-up Capital Cost of US$ 1.27 billion delivers a capital intensity of US$ 14,079/t of average annual CuEq. metal produced Highly Leveraged to Copper Price: At spot copper price of US$5.30/lb3, post-tax NPV8% increases to US$2.2 billion and post-tax IRR to 30%, respectively Low-Risk, Coastal Copper Development with Advanced Permitting Low Elevation and Over a Decade of Permitting Advance Provides a Foundation for Development: One of only a few global copper development projects at low elevation with a water permit, and grid power Preparing to submit Environmental Impact Assessment (EIA): Costa Fuego Stage-1 (EIA-1) based on current PFS-scale and definition Maiden Ore Reserve for Costa Fuego Lowers Operational Risk Maiden4 Ore Reserve5 for Costa Fuego. Probable Ore Reserves of 502 Mt at 0.37% Cu, 0.10 g/t Au, 0.49 g/t Ag and 97 ppm Mo: Across sulphide concentrator, oxide leach and low-grade sulphide leach processing streams __________ 1 The copper-equivalent (CuEq) annual production rate was based on the combined processing feed (across all sources) and used long-term commodity prices of: Copper US$ 4.30/lb, Gold US$ 2,280/oz, Molybdenum US$ 20/lb, and Silver US$25/oz; and estimated metallurgical recoveries for the production feed to the following processes: Concentrator (86% Cu, 54% Au, 37% Ag, 70% Mo), Oxide Leach (65% Cu only), & Low-grade Sulphide Leach (39% Cu only). 2 See page Announcement page 3 for full non-IFRS measures disclaimer. 3 Copper price – Fast markets quote 26/03/2025. High of $5.37/lb closing price $5.24/lb 4 Hot Chili previously released Ore Reserves for Productora, a component of Costa Fuego, in the ASX announcement 'Hot Chili Delivers PFS and Near Doubles Reserves at Productora' 2 March 2016. Maiden Ore Reserve for Cortadera and San Antonio and Alice deposits, and updated Ore Reserve for Productora and as a whole Costa Fuego. 5 Hot Chili is a dual listed entity and complies with the JORC 2012 code for the ASX for the reporting of Exploration Results, Mineral Resources and Ore Reserves. The company complies with CIM Definition Standards for Mineral Resources and Mineral Reserves (10 May 2014) that are incorporated by reference into NI 43-101 for the TSXV. Terminology of Ore Reserves and Mineral Reserves are interchangeable and have the same meaning within this announcement. Sphere size represents Leverage Index – which was calculated as the ratio of % increase in Cu price to % increase in NPV8%.The Global Developer Peer Group of project studies were selected on the following basis: Global primary copper projects (not controlled by a major miner), with net by-product credits where applicable, reporting studies of average annual life-of-mine copper production of greater than 40 kt, which have been published within the last 5 years. Projects with older studies were considered to be on hold. Significant projects such as Pebble and King-king were excluded by Hot Chili due to high perceived geopolitical risk, limiting the probability of development. Projects controlled by mid-tier mining companies near Costa Fuego were also included (Josemaría, Santa Domingo, Mantos Blanco and Mantoverde) for comparison purposes. References to active mines and other mineral projects is for illustration purposes only. There can be no assurances the Company will achieve comparable Published Company reports on studies undertaken on projects that were not in production at the time of the studies. Information from projects has been sourced from publicly available data that has been provided under differing economic assumptions. Public information for projects has been adjusted to provide a standardised data set under a US$4.30/lb Cu price. Published sensitivity data provided results that bracketed an US$4.30/lb Cu price, which was then calculated. Details of the adjustment are provided in the reference table on Benchmarking Data in the appendix (see slides 55-59 of presentation "Costa Fuego Copper-Gold Project Preliminary Feasibility Study & Maiden Ore Reserve" Dated 27th March 2025 ). Sphere size represents projected Life of Mine Average Annual CuEq* Production. 1 PFS CuEq considers long-term commodity prices and PFS metallurgical recoveries for the production feed from testwork. The CuEq metal was determined as the equivalent copper metal with equal value to all saleable production. See slide 37 for PFS commodity prices and slides 33 & 34 for PFS metallurgical South American Developer Peer Group of project studies were selected on the following basis: South American primary copper projects (not controlled by a major miner), net of by-product credits where applicable, reporting studies of average annual life-of-mine copper production of greater than 40 kt, which have been published within the last 5 years. Projects with older studies were considered to be on hold. Projects controlled by mid-tier mining companies near Costa Fuego were also included (Josemaría, Santa Domingo, Mantos Blanco and Mantoverde) for comparison purposes. References to active mines and other mineral projects is for illustration purposes only. There can be no assurances the Company will achieve comparable Published Company reports on studies undertaken on projects that were not in production at the time of the studies. Information from projects has been sourced from publicly available data that has been provided under differing economic assumptions. Public information for projects has been adjusted to provide a standardised data set under a US$4.30/lb Cu price. Published sensitivity data provided results that bracketed an US$4.30/lb Cu price, which was then of the adjustment are provided in the reference table on Benchmarking Data in the appendix (see slides 55-59 of presentation "Costa Fuego Copper-Gold Project Preliminary Feasibility Study & Maiden Ore Reserve" Dated 27th March 2025 ). Huasco Water PFS Outlines Valuable Strategic Asset The Huasco Water1 PFS was announced on 31 March 2025. The Huasco Water PFS presented a robust business case for both Stage 1 and Stage 2 of its proposed regional scale seawater and desalinated water business, with a conceptual level study for Stage 3 desalinated water supply expansion. Highlights included: Strong Economics for a Large, Multi-User, Water Business Stage 12 Water Supply PFS for 500L/s of Potential Seawater Supply: Post-tax NPV8% of US$122 million and IRR of 19%. Construction capital cost for seawater supply estimated at US$151 million with a 4.5-year payback Stage 2 Water Supply PFS for 1,300 L/s of Potential Desalinated Water Supply: Post-tax NPV8% of US$977 million and IRR of 19%. Construction capital cost for desalinated water supply estimated at US$1.4 billion with a 4-year payback. Stage 2 financial outcomes include Stage 1 capital and operating cashflows Stage 3 Conceptual Study for Expansion to 2,300 L/s of Potential Desalinated Water Supply Stage 1- Multi-Decade Seawater Supply to Costa Fuego 20 Year Seawater Supply with Foundation Off-taker: Memorandum of Understanding (MOU) executed for water supply of up to 500 L/s to Costa Fuego Long Lead-times Permits Secured: Granted maritime water concession to extract seawater, permit for coastal land access, Stage 1 pipeline easements and connection to the electrical grid secured Near-Term Development Decision Tied to Costa Fuego: First water supply planned for end of decade Stage 2 and 3 – Regional, Desalinated Water Supply Opportunity Large Catchment of Potential Off-takers: Over 4,000 L/s of desalinated water demand identified, including six undeveloped mining projects without secured access to desalinated water supply. No offtake agreements have been secured for stage 2 or 3 and discussions with potential customers are ongoing Staged Growth Approach: Establishment of seawater supply infrastructure toward the end of the decade, followed by the commencement of initial desalinated water supply shortly thereafter, and subsequent staged expansion. The staged approach enables long term scalable water supply to support mining, community, and agriculture in the Huasco Valley region with potential to extend well beyond the initial project horizons First-Mover Advantage Only Active Maritime License: HW Aguas para El Huasco SpA (Huasco Water), a joint venture between Hot Chili (80% interest) and Compañia Minera Del Pacifico "CMP" (20% interest), is the only company with permitted access to supply seawater in the Huasco Valley region following a ten-year regulatory approval process Desalination Permitting Advancing: Over a year advanced on regulatory applications to enable the supply of desalinated water from the existing maritime concession and a second maritime concession application by Huasco Water Long Permitting Timelines Continue: No regulatory changes have been made to Chile's maritime permitting process since Huasco Water was granted its concession. Hot Chili maintains a competitive advantage as the first mover in the area for a water distribution business EIA Advanced: Stage 1 seawater supply is included within the Costa Fuego EIA, baseline studies complete. __________ 1 HW Aguas para El Huasco SpA ("Huasco Water"), a joint venture between Hot Chili (80% interest) and Compañia Minera Del Pacifico ""CMP" (20% interest) 2 The Huasco Water Supply PFS has been aligned with the preliminary feasibility study for the Company's Costa Fuego project (the "Costa Fuego PFS") and shares the same assumptions for Costa Fuego in stage 1. See announcement dated 27th March 2025 "Hot Chili Announces PFS & Maiden Mineral Reserve for the Costa Fuego Cu-Au Project" outlining the results of the Costa Fuego PFS. An independent technical report for the Costa Fuego PFS, prepared in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") and JORC Code 20212 within 45 days thereof. Huasco Water PFS Key Outcomes Stage Key Performance IndicatorIRR 12 % 15.5 % 19% (Base case) Stage 1 PFS Engineering (Seawater) Fixed Water Tariff US$M/year 23 28 33 Variable Water Tariff US$/m³ 0.48 0.58 0.69 Average Annual Price of Water1 US$/m³ 2.31 2.80 3.32 Nominal Seawater Water Demand L/s 500 500 500 Costa Fuego PFS Total Cash Costs US$/lb Cu 1.31 1.35 1.38 Impact on Costa Fuego PFS Total Cash Cost US$/lb Cu -0.07 -0.04 0 Post-tax NPV8 US$M 41 80 122 Levelized Cost of Water to Huasco Water (8%) US $/m³ 1.66 1.66 1.66 Construction Capital US$M 151 151 151 Sustaining Capital US$M 26 26 26 Stage 1 & 2 PFS Engineering (Seawater & Desalinated Water) Fixed Water Tariff US$M/year 243 283 327 Variable Water Tariff US$/m³ 1.47 1.71 1.98 Average Annual Price of Water2 US$/m³ 6.39 7.44 8.59 Nominal Desalinated Water Demand L/s 1,300 1,300 1,300 Post-tax NPV8 US$M 328 640 977 Levelized Cost of Water to Huasco Water (8%) US $/m³ 4.85 4.85 4.85 Construction Capital US$M 1,430 1,430 1,430 Sustaining Capital US$M 1,170 1,170 1,170 Stage 33 Conceptual Study (Desalinated Water Expansion) Fixed Water Tariff US$M/year 312 359 410 Variable Water Tariff US$/m³ 1.78 2.04 2.33 Average Annual Price of Water4 US$/m³ 6.93 7.97 9.11 Nominal Desalinated Water Demand L/s 2,300 2,300 2,300 Expansion Capital US$M 1,900 1,900 1,900 Sustaining Capital US$M 2,380 2,380 2,380 _________ 1 Average Annual Price of Water for Costa Fuego. Price is calculated subject to each project's location and requirements. 2 Average Annual Price of Water for customers supplied in the Stage 2. Price is calculated subject to each customers location and requirements. 3 Stage 3 tariffs are the average for all customers for Stage 1, 2 and 3 4 Average Annual Price of Water for customers supplied in the Stage 3. Price is calculated subject to each customers location and requirements. La Verde Exploration Update On 11 February 2025, Hot Chili reported a second round of strong assay results from its La Verde copper-gold discovery, located approximately 30km south of Costa Fuego. Highlights included: Rapidly Emerging Major Copper-Gold Porphyry Discovery New drill results from an additional ten Reverse Circulation (RC) drill holes confirm La Verde as a major copper-gold porphyry discovery in low elevation coastal Chile, with broad, consistently mineralised intersections extending over 300 m vertically, commencing at shallow depths. Multiple new significant drill intersections underpin rapidly growing oxide and sulphide discovery: 320 m grading 0.3% Cu and 0.1 g/t Au from 34 m to end-of-hole (DKP009) 200 m grading 0.4% Cu and 0.1 g/t Au from 48 m to end-of-hole (DKP005) 172 m grading 0.4% Cu and 0.2 g/t Au from 48 m (DKP012) and 78 m grading 0.5% Cu and 0.1 g/t Au from 228 m to end-of-hole 135.5 m grading 0.3% Cu and 0.1 g/t Au from 64 m to end-of-hole (DKP006) 32 m grading 0.4% Cu from surface (DKP011) 80 m grading 0.3% Cu and 0.1 g/t Au from 8 m depth (DKP004) including 34 m at 0.4% Cu from 8 m depth La Verde Discovery Keeps Growing – Large Scale Appeal New drill results reinforce La Verde's potential scale, adding to the strong results reported on 18 December 2024: 308 m grading 0.5% Cu, 0.3 g/t Au from 46 m to end-of-hole (DKP002) including 202 m at 0.6% Cu, 0.3g/t Au from 70 m depth which included 100 m at 0.7% Cu and 0.3g/t Au from 118 m depth 362 m grading 0.3% Cu, 0.1g/t Au from 28m to end-of-hole (DKP001) including 174 m at 0.4% Cu and 0.1 g/t Au from 36 m depth which included 22 m at 0.6% Cu, 0.2g/t Au from 144 m depth Drilling Coverage at La Verde Doubled & Porphyry Mineralisation Remains Open First-pass drill coverage now extends across an area measuring 1,000 m by 550 m: 30 reverse circulation (RC) holes for 9,352 m drilled. Assay results pending for nineteen drill holes: Assay turnaround time from laboratories slower than usual due to peak summer drilling season in the high Andes Shallow porphyry mineralisation remains open in all directions Phase 1 drill programme completed on 10th April 2025 Next Steps Regulatory application for further clearing access being advanced Phase 2 drill programme (RC and diamond drilling) planned to commence following regulatory approval Deeper diamond drill testing being planned: 8 of 12 RC drill holes reported to date recorded significant mineralisation to end-of-hole Advanced four-dimensional geological modelling underway in addition to regional scale exploration activities across the La Verde discovery area and Domeyko landholdings Second EIA commenced to integrate La Verde into Costa Fuego Table 1 - Drill Holes Completed for Costa Fuego in Quarter 1 2025 Prospect Hole ID North East RL Depth Azimuth Dip Results La Verde DKP014 6785852 324747 1,147 444 300 -60 Pending La Verde DKP015 6786096 324434 1,159 313 132 -60 Pending La Verde DKP016 6785947 324416 1,110 360 110 -60 Pending La Verde DKP017 6786094 324685 1,185 336 100 -60 Pending La Verde DKP018 6785835 324428 1,108 145 100 -60 Pending La Verde DKP019 6785720 324718 1,145 279.5 255 -60 Pending La Verde DKP020 6785748 324586 1,141 144 270 -60 Pending La Verde DKP021 6785619 324324 1,197 402 75 -60 Pending La Verde DKP022 6785527 324414 1,200 288 75 -60 Pending La Verde DKP023 6785421 324320 1,197 402 90 -60 Pending La Verde DKP024 6785424 324417 1,203 402 110 -60 Pending La Verde DKP025 6785313 324415 1,187 276 270 -75 Pending La Verde DKP026 6785870 324312 1,110 147 105 -60 Pending La Verde DKP027 6785755 324906 1,139 402 300 -60 Pending La Verde DKP028 6785617 324758 1,136 432 300 -60 Pending La Verde DKP029 6785615 324758 1,175 366 265 -60 Pending La Verde DKP030 6785770 324774 1,133 393 275 -60 Pending Table 2 – Significant Intersections returned for Costa Fuego in Quarter 1 2025 Hole ID Coordinates Azim. Dip Hole Depth Intersection Interval Copper Gold Silver Molybdenum North East RL From To (m) (% Cu) (g/t Au) (ppm Ag) (ppm Mo) DKP003 6785971 324840 1192 117 -59 282 36 246 210 0.2 0.1 0.4 5110 128 18 0.2 0.2 0.3 7140 160 20 0.3 0.1 0.4 7188 196 8 0.3 0.1 0.5 4 DKP004 6785836 324423 1093 90 -60 120 8 88 80 0.3 0.1 0.5 19 Incl 8 42 34 0.4 0.0 0.6 16 Or Incl 26 36 10 0.6 0.1 0.5 18 DKP005 6785789 324564 1124 91 -60 248 8 247.5 239.5 0.3 0.1 0.9 18 Or 48 247.5 199.5 0.4 0.1 1.0 21 Incl 32 40 8 0.5 0.1 0.5 8 And Incl 68 106 38 0.5 0.2 1.1 9 Or Incl 70 82 12 0.6 0.2 1.0 8 DKP006 6785721 324727 1130 110 -60 199.5 64 199.5 135.5 0.3 0.1 0.8 6 Incl 124 186 62 0.4 0.2 1.1 7 Or Incl 124 150 26 0.5 0.3 1.2 7 And Incl 170 174 4 0.6 0.2 2.2 7 DKP007 6785854 324742 1149 270 -60 204 0 204 204 0.2 0.1 0.4 32 Incl 80 88 8 0.3 0.1 0.7 23 And Incl 160 204 44 0.3 0.1 0.5 84 Or Incl 186 194 8 0.4 0.1 0.7 91 DKP008 6785855 324748 1150 5 -60 324 0 324 324 0.2 0.1 0.5 12 Incl 0 16 16 0.3 0.1 0.3 6 And Incl 144 154 10 0.3 0.1 1.4 20 And Incl 174 218 44 0.3 0.1 0.5 7 DKP009 6786075 324552 1152 131 -60 354 34 354 320 0.3 0.1 0.7 13 Incl 46 66 20 0.5 0.1 0.9 8 And Incl 124 140 16 0.5 0.2 0.7 21 And Incl 180 314 134 0.4 0.2 0.8 8 Or Incl 258 314 56 0.5 0.2 1.1 6 Or Incl 260 274 14 0.5 0.3 1.7 4 DKP010 6785851 ...324742 1148 209 -60 276 0 92 92 0.2 0.1 0.3 10 Incl 0 10 10 0.4 0.2 0.3 4136 220 84 0.3 0.1 0.8 15 Incl 190 206 16 0.4 0.1 1.2 20252 274 22 0.3 0.1 0.6 14 DKP011 6786096 324429 1159 91 -60 326 0 32 32 0.4 0.0 0.8 23228 252 24 0.2 0.0 0.5 72 Incl 232 234 2 0.4 0.0 2.1 44274 310 36 0.2 0.0 0.3 31 DKP012 6785977 324839 1193 300 -60 306 48 220 172 0.4 0.2 0.5 14 Incl 62 82 20 0.5 0.2 0.3 6 And Incl 192 202 10 0.5 0.2 0.6 94 And Incl 228 306 78 0.5 0.1 0.8 24 Or Incl 232 264 32 0.6 0.2 1.0 16248 260 12 0.7 0.2 0.8 21 SUMMARY OF CORPORATE ACTIVITIES Cash Position and Capital Structure Changes As of 31 March 2025, the Company had cash of A$7.5 million and no debt. The Company expects to receive approximately A$5 million in funds from VAT repayments and joint venture recoup from its partner CMP. The operating expenditure for quarter ended 31 March 2025 included payments for exploration and evaluation of A$7.9 million. Included in this amount was A$4.0 million related to the completion of the two PFS for Costa Fuego and Huasco Water, and the advancement of the EIA. A total of A$3.9 million was spent on exploration activities across the La Verde copper-gold porphyry discovery and southern landholdings included in the Domeyko project. The investing expenditure for quarter ended 31 March 2025 related to payments for patentes (annual rent) for the Company's mining tenements. The Company expects monthly expenditure to be materially reduced by approximately 60% to 65% over the coming six months compared to this quarter, due to the completion and release of both the Costa Fuego and Huasco Water PFS, with only planning and optimisation activities expected during the next two quarters. Exploration expenditure will also be significantly reduced, with phase 1 drilling activities at La Verde having been completed on 10 April 2025. In addition, the Company is engaged in discussions related to potential renegotiation of forthcoming Option payments later in 2025 to maximise funds, while Hot Chili engages in potential future strategic funding discussions. The following summarises the Company's securities on issue: 151,596,149 ordinary fully paid shares 1,914,000 options at AUD $1.50 expiring 24 July 2026 5,938,248 service and performance rights Board Changes With the release of the Company's Pre-feasibility Studies for its Chilean Costa Fuego copper-gold project and Huasco Water project, Hot Chili commenced preparation in its next steps toward a final phase of development. On 11 March 2025, Hot Chili advised that Dr Nicole Adshead-Bell, Non-Executive Chair and Mr Stephen Quin, Non-Executive Director had tendered their resignations as Directors of the Company, effective immediately. On 17 March 2025, the Company announced the appointment of experienced and well-regarded Australian mining executive, Mrs Fiona Van Maanen, to the Board of Hot Chili as an Independent Non-Executive Director Further board and key executive appointments are planned and aim to strengthen and align the Company's capability at an important inflection in the Company's growth. Additional ASX Disclosure Information ASX Listing Rule 5.3.2: There was no substantive mining production and development activities during the quarter. ASX Listing Rule 5.3.3 - Schedule of Mineral Tenements as of 31 March 2025 The schedule of Mineral Tenements and changes in interests is appended at the end of this activities report. ASX Listing Rule 5.3.4: Reporting under a use of funds statement in a Prospectus does not apply to the Company currently. ASX Listing Rule 5.3.5: Payments to related parties of the Company and their associates during the quarter per Section 6.1 of the Appendix 5B totalled $126,000. This is comprised of directors' salaries and superannuation of $126,000 Health, Safety, Environment and Quality Field operations during the period included geological reconnaissance activities, reverse-circulation drilling, field mapping, and sampling exercises across the major Cortadera and Productora landholdings, as well as new project at La Verde. Activities on new tenements are run from the Productora or Cortadera operations centres and their safety statistics are included under the figures for all projects. There were no Lost Time Injuries (LTI) during the quarter. Hot Chili's sustainability framework ensures an emphasis on business processes that target long-term economic, environmental and social value. The Company is dedicated to continual monitoring and improvement of health, safety and the environmental systems. There is no greater importance than ensuring the safety of our people and their families. Table 4. HSEQ Quarter 1 2025 Performance and Statistics Deposit Productora Cortadera All Projects Timeframe Q1 2025 Cum.² Q1 2025 Cum.² Q1 2025 Cum.² LTI events 0 0 0 6 0 8 NLTI events 0 4 0 6 0 11 Days lost 0 0 0 152 0 263 LTIFR index 0 0 0 20 0 18 ISR index 0 0 0 510 0 599 IFR Index 0 44 0 40 0 43 Thousands of man-hours 3.6 92 2.5 298 21.4 439 Incidents on materials and assets 0 1 0 0 0 1 Environmental incidents 0 0 0 0 0 0 Headcount¹ 10 11 8 31 57 50 Notes: HSEQ is the acronym for Health, Safety, Environment and Quality. LTIFR per million-manhours. Safety performance is reported on a monthly basis to the National Mine Safety Authority on a standard E-100 form; (1) Average monthly headcount (2) Cumulative statistics since April 2019. Tenement Changes During the Quarter During the Quarter, Sociedad Minera La Frontera SpA ("La Frontera") has abandoned the Marsellesa option agreement and the Cometa option agreement and the mining rights have been returned to the respective owners. Furthermore, the Domeyko Option Agreement Offeror has claimed the exploitation concessions "Cazurro 3 1/60", "Cazurro 4 1/60" and "Cazurro 7 1/40" in use of the preferential right held by virtue of exploration concessions "Cazurro 3", "Cazurro 4" and "Cazurro 7" respectively. Consequently, the Domeyko Option Agreement has been amended, including the mentioned concessions and the exploitation concession called "Antonio 36 1/15". During the same period, Sociedad Minera El Águila has claimed 2 mining exploitation concessions "Suerte 1/7" and "Suerte II 1/15", which are in process to be constituted. The Company's existing tenements are detailed in the table below. Table 4 Current Tenement (Patente) Holdings in Chile as of 31 March 2025 Cortadera Project Tenements Cortadera Project N° License ID HCH % Held HCH % Earning Area (ha) Agreement Details 1 ALCENIA 1/10 100% Frontera SpA502 AMALIA 942 A 1/6 100% Frontera SpA533 ATACAMITA 1/82 100% Frontera SpA824 CORROTEO 1 1/260 100% Frontera SpA2605 CORROTEO 5 1/261 100% Frontera SpA2616 CORTADERA 1 1/200 100% Frontera SpA2007 CORTADERA 1/40 100% Frontera SpA3748 CORTADERA 2 1/200 100% Frontera SpA2009 CORTADERA 41 100% Frontera SpA110 CORTADERA 42 100% Frontera SpA111 LAS CANAS 1/15 100% Frontera SpA14612 LAS CANAS 16 100% Frontera SpA113 LAS CANAS ESTE 2003 1/30 100% Frontera SpA30014 MAGDALENITA 1/20 100% Frontera SpA10015 PAULINA 10 B 1/16 100% Frontera SpA13616 PAULINA 11 B 1/30 100% Frontera SpA24917 PAULINA 12 B 1/30 100% Frontera SpA29418 PAULINA 13 B 1/30 100% Frontera SpA26419 PAULINA 14 B 1/30 100% Frontera SpA26520 PAULINA 15 B 1/30 100% Frontera SpA20021 PAULINA 22 A 1/30 100% Frontera SpA30022 PAULINA 24 1/24 100% Frontera SpA18323 PAULINA 25 A 1/19 100% Frontera SpA15624 PAULINA 26 A 1/30 100% Frontera SpA29425 PAULINA 27A 1/30 100% Frontera SpA30026 PURISIMA 1/8 (1/2 Y 5/6) 100% Frontera SpA20 NSR 1.5% 27 CF 1 100% Frontera SpA30028 CF 2 100% Frontera SpA30029 CF 3 100% Frontera SpA30030 CF 4 100% Frontera SpA30031 CF 5 100% Frontera SpA20032 CF 6 100% Frontera SpA20033 CF 7 100% Frontera SpA10034 CF 8 100% Frontera SpA20035 CF 9 100% Frontera SpA10036 CF 10 100% Frontera SpA20037 CF 11 100% Frontera SpA20038 CHAPULIN COLORADO 1/3 100% Frontera SpA339 CHILIS 1 100% Frontera SpA20040 CHILIS 3 100% Frontera SpA10041 CHILIS 4 100% Frontera SpA20042 CHILIS 5 100% Frontera SpA20043 CHILIS 6 100% Frontera SpA20044 CHILIS 7 100% Frontera SpA20045 CHILIS 8 100% Frontera SpA20046 CHILIS 9 100% Frontera SpA30047 CHILIS 10 1/38 100% Frontera SpA19048 CHILIS 11 100% Frontera SpA20049 CHILIS 12 1/60 100% Frontera SpA30050 CHILIS 13 100% Frontera SpA30051 CHILIS 14 100% Frontera SpA30052 CHILIS 15 100% Frontera SpA30053 CHILIS 16 100% Frontera SpA30054 CHILIS 17 100% Frontera SpA30055 CHILIS 18 100% Frontera SpA30056 CORTADERA 1 100% Frontera SpA20057 CORTADERA 2 100% Frontera SpA20058 CORTADERA 3 100% Frontera SpA20059 CORTADERA 4 100% Frontera SpA20060 CORTADERA 5 100% Frontera SpA20061 CORTADERA 6 1/60 100% Frontera SpA26562 CORTADERA 7 1/20 100% Frontera SpA9363 CRISTINA 1/40 100% SMEA SpA4064 DIABLITO 1/5 100% SMEA SpA2565 DONA FELIPA 1/10 100% Frontera SpA5066 DORO 1 100% Frontera SpA20067 DORO 2 100% Frontera SpA20068 DORO 3 100% Frontera SpA30069 FALLA MAIPO 2 1/10 100% Frontera SpA9970 FALLA MAIPO 3 1/8 100% Frontera SpA7271 FALLA MAIPO 4 1/26 100% Frontera SpA2672 MINORI 1 100% SMEA SpA30073 MINORI 2 100% SMEA SpA30074 MINORI 3 100% SMEA SpA30075 MINORI 4 100% SMEA SpA30076 PORFIADA B 100% Frontera SpA20077 PORFIADA D 100% Frontera SpA30078 PORFIADA G 100% Frontera SpA20079 PORFIADA I 100% Frontera SpA30080 PORFIADA II 100% Frontera SpA30081 PORFIADA III 100% Frontera SpA30082 PORFIADA IV 100% Frontera SpA30083 PORFIADA V 100% Frontera SpA20084 PORFIADA VI 100% Frontera SpA10085 PORFIADA X 100% Frontera SpA20086 SAN ANTONIO 1 100% Frontera SpA20087 SAN ANTONIO 2 100% Frontera SpA20088 SAN ANTONIO 3 100% Frontera SpA30089 SAN ANTONIO 4 100% Frontera SpA30090 SAN ANTONIO 5 100% Frontera SpA30091 SOLAR 1 100% Frontera SpA30092 SOLAR 2 100% Frontera SpA30093 SOLAR 3 100% Frontera SpA30094 SOLAR 4 100% Frontera SpA30095 SOLAR 5 100% Frontera SpA30096 SOLAR 6 100% Frontera SpA30097 SOLAR 7 100% Frontera SpA30098 SOLAR 8 100% Frontera SpA30099 SOLAR 9 100% Frontera SpA300100 SOLAR 10 100% Frontera SpA300101 SOLEDAD 1 100% Frontera SpA300102 SOLEDAD 2 100% Frontera SpA300103 SOLEDAD 3 100% Frontera SpA300104 SOLEDAD 4 100% Frontera SpA300 TOTAL 22.653Note. Frontera SpA is a 100% owned subsidiary company of Hot Chili Limited Productora Project Tenements Productora Project N° License ID HCH % Held HCH % Earning Area (ha) Agreement Details 1 ALGA 7 A 1/32 80% SMEA SpA892 ALGA VI 4 100% SMEA SpA23 ALGA VI 5/24 80% SMEA SpA664 ARENA 1 1/6 80% SMEA SpA405 ARENA 2 1/17 80% SMEA SpA1136 AURO HUASCO 1A 1/8 80% SMEA SpA357 CABRITO-CABRITO 1/9 80% SMEA SpA508 CACHIYUYITO 1 1/20 80% SMEA SpA1009 CACHIYUYITO 2 1/60 80% SMEA SpA30010 CACHIYUYITO 3 1/60 80% SMEA SpA30011 CARMEN I, 1/50 80% SMEA SpA22212 CARMEN II, 1/60 80% SMEA SpA27413 CF 12 100% Frontera SpA10014 CF 13 100% Frontera SpA20015 CF 14 100% Frontera SpA30016 CHICA 80% SMEA SpA117 CHOAPA 1/10 80% SMEA SpA5018 CUENCA A 1/51 80% SMEA SpA25519 CUENCA B 1/28 80% SMEA SpA13920 CUENCA C 1/51 80% SMEA SpA25521 CUENCA D 80% SMEA SpA322 CUENCA E 80% SMEA SpA123 ELEONOR RIGBY 1/10 100% Frontera SpA10024 ELQUI 1/14 80% SMEA SpA6125 ESPERANZA 1/5 80% SMEA SpA1126 FRAN 1 1/60 80% SMEA SpA22027 FRAN 12 1/40 80% SMEA SpA20028 FRAN 13 1/40 80% SMEA SpA20029 FRAN 14 1/40 80% SMEA SpA20030 FRAN 15 1/60 80% SMEA SpA30031 FRAN 18, 1/60 80% SMEA SpA27332 FRAN 2 1/20 80% SMEA SpA10033 FRAN 21, 1/46 80% SMEA SpA22634 FRAN 3 1/20 80% SMEA SpA10035 FRAN 4 1/20 80% SMEA SpA10036 FRAN 5 1/20 80% SMEA SpA10037 FRAN 6 1/26 80% SMEA SpA13038 FRAN 7 1/37 80% SMEA SpA17639 FRAN 8 1/30 80% SMEA SpA12040 JULI 10, 1/60 80% SMEA SpA30041 JULI 11, 1/60 80% SMEA SpA30042 JULI 12, 1/42 80% SMEA SpA21043 JULI 13, 1/20 80% SMEA SpA10044 JULI 14, 1/50 80% SMEA SpA25045 JULI 15, 1/55 80% SMEA SpA27546 JULI 16 1/60 80% SMEA SpA30047 JULI 17 1/20 80% SMEA SpA10048 JULI 19 80% SMEA SpA30049 JULI 20 80% SMEA SpA30050 JULI 21 1/60 80% SMEA SpA30051 JULI 22 80% SMEA SpA30052 JULI 23 1/60 80% SMEA SpA30053 JULI 24 1/60 80% SMEA SpA30054 JULI 25 80% SMEA SpA30055 JULI 27 B, 1/10 80% SMEA SpA4856 JULI 27, 1/30 80% SMEA SpA14657 JULI 28, 1/60 80% SMEA SpA30058 JULI 9, 1/60 80% SMEA SpA30059 JULIETA 10, 1/60 80% SMEA SpA30060 JULIETA 11 80% SMEA SpA30061 JULIETA 12 80% SMEA SpA30062 JULIETA 13 1/60 80% SMEA SpA29863 JULIETA 14 1/60 80% SMEA SpA26964 JULIETA 15 1/40 80% SMEA SpA20065 JULIETA 16 80% SMEA SpA20066 JULIETA 17 80% SMEA SpA20067 JULIETA 18 1/40 80% SMEA SpA20068 JULIETA 5 80% SMEA SpA20069 JULIETA 6 80% SMEA SpA20070 JULIETA 7 80% SMEA SpA10071 JULIETA 8 80% SMEA SpA10072 JULIETA 9 80% SMEA SpA10073 JULITA ¼ 80% SMEA SpA474 LEONA 2A 1/4 80% SMEA SpA1075 LIMARI 1/15 80% SMEA SpA6676 LOA 1/6 80% SMEA SpA3077 MAIPO 1/10 80% SMEA SpA5078 MONTOSA 1/4 80% SMEA SpA35 NSR 3% 79 ORO INDIO 1A 1/20 80% SMEA SpA8280 PEGGY SUE 1/10 100% Frontera SpA10081 PRODUCTORA 1/16 80% SMEA SpA7582 SUERTE 1/7 100% SMEA SpA2183 SUERTE II 1/15 100% SMEA SpA1584 TOLTEN 1/14 80% SMEA SpA7085 URANIO 1/70 0 %350 25-year Lease Agreement US$250,000 per year (average for the 25 year term); plus 2% NSR all but gold; 4% NSR gold; 5% NSR non-metallic 86 ZAPA 1 1/10 80% SMEA SpA10087 ZAPA 1/6 80% SMEA SpA6 GSR 1% 88 ZAPA 3 1/23 80% SMEA SpA9289 ZAPA 5A 1/16 80% SMEA SpA8090 ZAPA 7 1/24 80% SMEA SpA120 TOTAL 14.514Note. SMEA SpA is subsidiary company - 80% owned by Hot Chili Limited, 20% owned by CMP (Compañía Minera del Pacífico) Note. Frontera SpA is a 100% owned subsidiary company of Hot Chili Limited. El Fuego Project Tenements Domeyko Project N° License ID HCH % Held HCH % Earning Area (ha) Agreement Details 1 ANTONIO 1 1/56100% Frontera SpA 280 100% HCH Domeyko Purchase Option AgreementUS$120,000 (already satisfied) US$100,000 payable by April 19th 2025US$100,000 payable by April 19th 2026US$200,000 payable by April 19th 2027US$3.480,000 payable by April 19th 2028NSR 1% 2 ANTONIO 1/40100% Frontera SpA 200 3 ANTONIO 10 1/21100% Frontera SpA 63 4 ANTONIO 19 1/30100% Frontera SpA 128 5 ANTONIO 21 1/20100% Frontera SpA 60 6 ANTONIO 36 1/15100% Frontera SpA 74 7 ANTONIO 5 1/40100% Frontera SpA 200 8 ANTONIO 9 1/40100% Frontera SpA 193 9 CAZURRO 1100% Frontera SpA 200 10 CAZURRO 2100% Frontera SpA 200 11 CAZURRO 3100% Frontera SpA 300 12 CAZURRO 4100% Frontera SpA 300 13 CAZURRO 5100% Frontera SpA 100 14 CAZURRO 6100% Frontera SpA 200 15 CAZURRO 7100% Frontera SpA 200 16 CAZURRO 8100% Frontera SpA 200 17 CERRO MOLY 1100% Frontera SpA 300 18 CERRO MOLY 2100% Frontera SpA 300 19 CERRO MOLY 3100% Frontera SpA 300 20 CERRO MOLY 4100% Frontera SpA 300 21 CAZURRO 3 1/60100% Frontera SpA 300 22 CAZURRO 4 1/60100% Frontera SpA 300 23 CAZURRO 7 1/40100% Frontera SpA 200 24 EMILIO 1 1/8100% Frontera SpA 38 25 EMILIO 3 1/9100% Frontera SpA 45 26 INES 1/40100% Frontera SpA 200 27 LORENA 1/2100% Frontera SpA 2 28 MERCEDITA 1/7100% Frontera SpA 22 29 PRIMO 1 1/6100% Frontera SpA 36 30 SANTIAGUITO 5 1/24100% Frontera SpA 114 31 DOMINOCEROS 1/20 (1/4)100% Frontera SpA 20 100% HCH Dominoceros Purchase Option AgreementUS$320,000 (already satisfied) US$680,000 payable by October 25th 2025US$1000,000 payable by October 25th 2026US$6.890,000 payable by October 25th 2027 32 CF SUR 1 100% Frontera SpA30033 CF SUR 2 100% Frontera SpA30034 CF SUR 3 100% Frontera SpA30035 CF SUR 4 100% Frontera SpA30036 CF SUR 5 100% Frontera SpA20037 CF SUR 6 100% Frontera SpA30038 CF SUR 7 100% Frontera SpA30039 CF SUR 8 100% Frontera SpA30040 CF SUR 9 100% Frontera SpA20041 CF SUR 10 100% Frontera SpA20042 CF SUR 11 100% Frontera SpA30043 CF SUR 12 100% Frontera SpA30044 CF SUR 13 100% Frontera SpA30045 CF SUR 14 100% Frontera SpA30046 CF SUR 15 100% Frontera SpA20047 CF SUR 16 100% Frontera SpA30048 CF SUR 17 100% Frontera SpA30049 CF SUR 18 100% Frontera SpA30050 CF SUR 19 100% Frontera SpA30051 CF SUR 20 100% Frontera SpA30052 CF SUR 21 100% Frontera SpA30053 CF SUR 22 100% Frontera SpA30054 CF SUR 23 100% Frontera SpA20055 CF SUR 24 100% Frontera SpA20056 CF SUR 25 100% Frontera SpA30057 CF SUR 26 100% Frontera SpA30058 CF SUR 27 100% Frontera SpA30059 CF SUR 28 100% Frontera SpA20060 CF SUR 29 100% Frontera SpA30061 CF SUR 30 100% Frontera SpA20062 CF SUR 31 100% Frontera SpA30063 CF SUR 32 100% Frontera SpA30064 CF SUR 33 100% Frontera SpA30065 CF SUR 34 100% Frontera SpA30066 CF SUR 35 100% Frontera SpA30067 KRETA ¼100% Frontera SpAThe mining concession is included in San Antonio Purchase Option Agreement 68 MARI 1 100% Frontera SpA 30069 MARI 1/12100% Frontera SpA 64 The mining concession is included in San Antonio Purchase Option Agreement 70 MARI 6 100% Frontera SpA30071 MARI 8 100% Frontera SpA300 TOTAL 16.055Note. Frontera SpA is a 100% owned subsidiary company of Hot Chili Limited. San Antonio Project N° License ID HCH % Held HCH % Earning Area (ha) Agreement Details 1 MERCEDES 1/3100% Frontera SpA 50 100% HCH San Antonio Purchase Option Agreement USD 300,000 already payable September 30th 2024US$1,000,000 payable September 30th 2025US$2,000,000 payable by September 30th 2026 to exercise the El Fuego Option.(2 additional and conditional payments of USD 2,000,000, each one, to be paid by December 31, 2030 under certain conditions detailed at title "Tenement Changes During the Quarter" of this quarterly report.) 2 PORFIADA A 1/33100% Frontera SpA 160 3 PORFIADA C 1/60100% Frontera SpA 300 4 PORFIADA E 1/20100% Frontera SpA 100 5 PORFIADA F 1/50100% Frontera SpA 240 6 PORFIADA IX 1/60100% Frontera SpA 300 7 PORFIADA VII 1/60100% Frontera SpA 270 8 PORFIADA VIII 1/60100% Frontera SpA 300 9 PRIMA 1100% Frontera SpA 1 10 PRIMA 2100% Frontera SpA 2 11 ROMERO 1/31100% Frontera SpA 31 12 SAN ANTONIO 1/5100% Frontera SpA 25 13 SAN JUAN SUR 1/5100% Frontera SpA 10 14 SAN JUAN SUR 6/23100% Frontera SpA 90 15 SANTIAGO Z 1/30100% Frontera SpA 300 16 SANTIAGO 1/4 Y 20100% Frontera SpA 75 17 SANTIAGO 15/19100% Frontera SpA 25 18 SANTIAGO 21/36100% Frontera SpA 76 19 SANTIAGO 37/43100% Frontera SpA 26 20 SANTIAGO A, 1/26100% Frontera SpA 244 21 SANTIAGO B, 1/20100% Frontera SpA 200 22 SANTIAGO C, 1/30100% Frontera SpA 300 23 SANTIAGO D, 1/30100% Frontera SpA 300 24 SANTIAGO E, 1/30100% Frontera SpA 300TOTAL 3.725Note. Frontera SpA is a 100% owned subsidiary company of Hot Chili Limited. Cordillera Project N° License ID HCH % Held HCH % Earning Area (ha) Agreement Details 1 ALBORADA III 1/35100% Frontera SpA 162 100% HCH Purchase Option AgreementUSD 100,000 already paidUS$200,000 payable by November 14th 2025 US$3,700,000 payable by November 14th 2027NSR 1% for underground mining and 1,5% for open-pit mining 2 ALBORADA IV 1/20100% Frontera SpA 54 3 ALBORADA VII 1/25100% Frontera SpA 95 4 CAT IX 1/30100% Frontera SpA 150 5 CATITA IX 1/20100% Frontera SpA 100 6 CATITA XII 1/13100% Frontera SpA 61 7 CORDILLERA 1/5100% Frontera SpA 20 8 HERREROS 1/14100% Frontera SpA 28 9 MINA HERREROS III 1/6100% Frontera SpA 18 10 MINA HERREROS IV 1/10100% Frontera SpA 23 11 PORSIACA 1/20100% Frontera SpA 20 12 QUEBRADA 1/10100% Frontera SpA 28 13 VETA 1/17100% Frontera SpA 17TOTAL 776Note. Frontera SpA is a 100% owned subsidiary company of Hot Chili Limited. Qualifying Statements The technical information in this presentation has been prepared in accordance with Canadian regulatory requirements set out in National Instrument 43-101 – Standards of Disclosure for Mineral Projects ( "NI 43-101" ) and Joint Ore Reserves Committee of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves prepared by the Joint Ore Reserves Committee of the Australasian Institute of Mining and Metallurgy, Australian Institute of Geoscientists and Minerals Council of Australia (the "JORC Code") and has been reviewed and approved by the "Qualified Persons" as defined under NI 43-101 and "Competent Persons" as defined under the JORC Code as set out below. The Costa Fuego Copper project pre-feasibility study (the "PFS") was compiled by the Qualified Persons and Competent Persons listed below based on information available up to the effective date of the PFS. Additional details of responsibilities are provided at page 23 of this presentation and will be provided in the PFS technical report (to be available on SEDAR+ ( and at within 45 days of March 27, 2025 (the "PFS Technical Report"). PFS Technical Report For readers to fully understand the information in this presentation, they should read the PFS Technical Report in its entirety when it is available, including all qualifications, assumptions, limitations and exclusions that relate to the information to be set out in the PFS Technical Report. The PFS Technical Report is intended to be read as a whole, and sections should not be read or relied upon out of context. The technical information in this presentation is subject to the assumptions and qualifications to be contained in the PFS Technical Report. The PFS Technical Report will replace and supersede the technical report titled "Costa Fuego Copper Project – NI 43-101 Technical Report Mineral Resource Estimate Update" dated April 8, 2024, with an effective date of February 26, 2024 (the "2024 PEA"). Qualified Persons – NI 43-101 The PFS was compiled by Wood Australia Pty Ltd with contributions from a team of independent "Qualified Persons" within the meaning of NI 43 -101. The scientific and technical information contained in this presentation pertaining to Costa Fuego has been reviewed and verified by the following independent qualified persons within the meaning of NI 43-101: Ms Elizabeth Haren (FAUSIMM (CP) & MAIG) of Haren Consulting – Mineral Resource Estimate Mr Dean David (FAUSIMM (CP)) of Wood Pty Ltd – Metallurgy Mr Piers Wendlandt (PE) of Wood Pty Ltd – Market Studies and Contracts, Economic Analysis Mr David Cuello (MAUSIMM) of GMT Servicios de Ingeniería – Geotechnical Mr Jeffrey Stevens (Pr. Eng, MSAIMM) of Wood Pty Ltd – Infrastructure and Capital Cost Mr Luis Bernal (Comisión Minera (PC) Registered Member) of Process Mineral Consulting – Leaching Mr Anton von Wielligh (FAUSIMM) of ABGM Consulting Pty Ltd – Mine Planning and Scheduling Mr Edmundo LaPorte (PE, PEng, CPEng, SME Registered Member) of High River Services - Environmental The above independent Qualified Persons have verified the information disclosed herein, including the sampling, preparation, security, and analytical procedures underlying such information. Competent Persons – JORC The information in this presentation that relates to Mineral Resources, Exploration Results, and Ore Reserves for the Costa Fuego Project is based on information compiled by: Ms Elizabeth Haren (FAUSIMM (CP) & MAIG) who is a full-time employee of Haren Consulting – Mineral Resource Estimate Mr Dean David (FAUSIMM (CP)) who is a full-time employee of Wood Pty Ltd – Metallurgy Mr Piers Wendlandt (PE) who is a full-time employee of Wood Pty Ltd – Market Studies and Contracts, Economic Analysis Mr David Cuello (MAUSIMM) who is a full-time employee of GMT Servicios de Ingeniería – Geotechnical Mr Jeffrey Stevens (Pr. Eng, MSAIMM) who is a full-time employee of Wood Pty Ltd – Infrastructure and Capital Cost Mr Luis Bernal (Comisión Minera (PC) Registered Member) who is a full-time employee of Process Mineral Consulting – Leaching Mr Anton von Wielligh (FAUSIMM) who is a full-time employee of ABGM Consulting Pty Ltd – Mine Planning and Scheduling Mr Edmundo LaPorte (PE, PEng, CPEng, SME Registered Member) who is a full-time employee of High River Services – Environmental Mr Christian Easterday (MAIG), who is the Managing Director and is a full-time employee of Hot Chili Limited – Exploration Results Ms Haren, Mr David, Mr Wendlandt, Mr Cuello, Mr Stevens, Mr Bernal, Mr LaPorte, Mr Easterday, and Mr von Wielligh each have sufficient experience, which is relevant to the style of mineralisation and types of deposits under consideration and to the activities undertaken, to qualify as a Competent Person as defined in the JORC Code and as Qualified Persons under NI43-101. Production Targets Statement The production targets and forecast financial information derived from the production targets for: (1) the Productora production mine site referred to in this release is based on 52% of material of the Probable Ore Reserves and 31% of the material from Indicated Mineral Resources. (2) Alice production mine site referred to in this release is based on 3% of the material from Probable Ore Reserves and 2% of the material from Indicated Mineral Resources; (3) the Cortadera production mine site referred to in this release is based on 45% of the material from Probable Ore Reserves and 67% of the material from Indicated Mineral Resources; and (4) San Antonio production mine site referred to in this release is based on 1% of the material from Probable Ore Reserves and 0% of the material from Indicated Mineral Resources. No portions of the production targets are based on Inferred Mineral Resources. The material assumptions used in the estimation of the production targets and associated forecast financial information are set out in Mineral Resource and Mineral Reserve pages 30-41, Mine Design and Scheduling Pages 43-47, Metallurgy and Mineral Processing Pages 48-50, and Basis of Economic Assumption pages 58-59. The Mineral Resource and Ore Reserve estimates underpinning the production targets were prepared by Competent Persons in accordance with the JORC Code 2012. Disclaimer This presentation does not purport to be complete or contain all the information that may be material to the current or future business, operations, financial condition, or prospects of Hot Chili Limited (Hot Chili, HCH or the Company). Certain information contained herein is based on, or derived from, information obtained from independent third-party sources, publicly available reports and other trade and industry sources. Hot Chili believes that such information is accurate and that the sources from which it has been obtained are reliable; however, Hot Chili has not independently verified such information and does not assume any responsibility for the accuracy or completeness of such information. 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 material mineral projects. Technical disclosure contained in this presentation 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 technical information contained in this presentation 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 presentation 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", "EBITDA" 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 Statements in this presentation that are not historical facts are "forward-looking information" or "forward-looking statements" within the meaning of Canadian securities legislation and Australian securities legislation (each, a "forward-looking statement"). The use of any of the words "anticipate", "envisage", "forecast", "consider", "proposed", "conceptual", "opportunity", "designed to", "believe", "could", "estimate", "expect", "intended", "may", "might", "plan", "potential", "project", "should", "will", "would" and similar expressions are intended to identify forward-looking statements. Statements concerning mineral resource and mineral reserve estimates may also be deemed to constitute forward-looking statements to the extent that they involve estimates of the mineralization that may be encountered if the Costa Fuego Project is developed. In this presentation, forward-looking statements relate, among other things, to: prospects, projections and success of the Company and its projects; the results of the PFS, including expected cash inflows; anticipated production, mine life, expected costs and other projections; metal price assumptions; metal recovery rate; the ability of the Company to expand mineral resources, and/or mineral reserves and/or ore reserves beyond current estimates; the impacts of the PFS including but not limited to economic and social outcomes; the timing and ability to complete an environmental impact assessment ( "EIA" ) study; the estimation of mineral resources and reserves; opportunities to add to the Costa Fuego Project; potential opportunities related to recent discoveries; derisking of certain development items; the anticipated production profile and mine life of the Costa Fuego Project; expected access to local workforce due to the Costa Fuego Project's proximity to the regional centre; the investigation of additional growth opportunities, high-value development optimisation, monetization of cobalt and increase to overall copper and gold recovery; projected, financial measures, capital costs, cooperating costs, mine life, metal production and revenue generation; comparisons to peers confidence levels of the PFS in comparison to the 2024 PEA; the optimal exploitation strategy and the mine design, scheduling and economic evaluation pertaining thereto; marginal and breakeven new smelter return cut-offs; project layout, mine design and scheduling; processing suitability based on metallurgical testwork conducted to date; anticipated infrastructure requirements, including power supply, water supply, processing and tailings storage facilities, concentrates storage and site layouts; economic assessments and evaluations; expectations relating to environmental impact assessments, ongoing relations with local communities, local, regional and national government and regulators; anticipated projects risks and mitigation thereof; potential opportunities for growth and other optimisations; timing of the Company to file the PFS Technical Report; plans for a definitive feasibility study; statements regarding the Company's water business; and future funding requirements.. 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 presentation, including, but not limited to, the following material factors: industry-wide and project-specific risks identified in the PFS Technical Report and in this presentation; operational risks; risks related to the cost estimates of exploration and development; sovereign risks associated with the Company's operations in Chile; changes in mineral resource and mineral reserve estimates; 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; the Company's lack of operating revenues; risks to employee health and safety or disruption to operations in the event of an outbreak of disease; estimates used in budgeting and economic analyses proving to be incorrect and other risks and uncertainties described elsewhere in this presentation and in the Company's public filings with the ASX and the Company's Canadian public disclosure record. Although the forward-looking statements contained in this presentation are based upon assumptions which the Company believes to be reasonable, there can be no assurance that actual results will be consistent with these forward-looking statements. With respect to forward-looking statements contained in this presentation, the Company has applied certain material assumptions including: the continuity of future commodity prices and demand; the availability of skilled labour; the timing and amount of capital expenditures; that future currency exchange and interest rates will be consistent with the Company's expectations; that increasing competition will not have a material adverse impact; that general conditions in economic and financial markets will be sustained or will improve; availability of drilling and related equipment; that regulation by governmental agencies and relations with local communities will not change in a materially adverse manner; that future tax rates operating costs will be as expected; availability of future sources of funding; that requisite financing will be available and can be obtained on reasonable terms; that the assumptions underlying estimates related to adjusted funds from operations will prove to be as anticipated and that current exploration, development, environmental and other objectives concerning the Costa Fuego Project can be achieved and that Company's other corporate activities will proceed as expected. Although the Company has attempted to identify important factors that could cause actual results to vary materially from those projected in such forward-looking statements, there can be no assurance that forward- looking statements will prove to be accurate. Accordingly, readers should not place undue reliance on forward- looking statements. The forward-looking statements in this presentation are based on plans, expectations, and estimates of management as at the date hereof and the Company undertakes no obligation to update such forward-looking statements, other than as required by applicable law. Mineral Resource Statement Costa Fuego Combined Mineral Resource (Effective Date 26 February 2024)1 Mineral Resources are reported on a 100% Basis - combining Mineral Resource estimates for the Cortadera, Productora, Alice and San Antonio deposits. All figures are rounded, reported to appropriate significant figures and reported in accordance with the Joint Ore Reserves Committee Code (2012) and NI 43-101. Mineral Resource estimation practices are in accordance with CIM Estimation of Mineral Resource and Mineral Reserve Best Practice Guidelines (29 November 2019) and reported in accordance CIM Definition Standards for Mineral Resources and Mineral Reserves (10 May 2014) that are incorporated by reference into NI 43-101. 2 Mineral Resources are inclusive of the Mineral Reserve 3 The Productora deposit is 100% owned by Chilean incorporated company Sociedad Minera El Aguila SpA (SMEA). SMEA is a joint venture (JV) company – 80% owned by Sociedad Minera El Corazón SpA (a 100% subsidiary of Hot Chili), and 20% owned by Compañía Minera del Pacífico S.A (CMP). 4 The Cortadera deposit is controlled by a Chilean incorporated company Sociedad Minera La Frontera SpA (Frontera). Frontera is a subsidiary company – 100% owned by Sociedad Minera El Corazón SpA, which is a 100% subsidiary of Hot Chili. 5 The San Antonio deposit is controlled through Frontera (100% owned by Sociedad Minera El Corazón SpA, which is a 100% subsidiary of Hot Chili Liited) and Frontera is party to an Option Agreement pursuant to which it can earn a 100% interest in the property. 6 The Mineral Resource Estimates (MRE) in the tables above form coherent bodies of mineralisation that are considered amenable to a combination of open pit and underground extraction methods based on the following parameters: Base Case Metal Prices: Copper US$ 3.00/lb, Gold US$ 1,700/oz, Molybdenum US$ 14/lb, and Silver US$20/oz. 7 All MRE were assessed for Reasonable Prospects of Eventual Economic Extraction (RPEEE) using both Open Pit and Block Cave Extraction mining methods at Cortadera and Open Pit mining methods at the Productora, Alice and San Antonio deposits. 8 Metallurgical recovery averages for each deposit consider Indicated + Inferred material and are weighted to combine sulphide flotation and oxide leaching performance. Process recoveries: Cortadera – Weighted recoveries of 82% Cu, 55% Au, 81% Mo and 36% Ag. CuEq(%) = Cu(%) + 0.55 x Au(g/t) + 0.00046 x Mo(ppm) + 0.0043 x Ag(g/t). San Antonio - Weighted recoveries of 85% Cu, 66% Au, 80% Mo and 63% Ag. CuEq(%) = Cu(%) + 0.64 x Au(g/t) + 0.00044 x Mo(ppm) + 0.0072 x Ag(g/t) Alice - Weighted recoveries of 81% Cu, 47% Au, 52% Mo and 37% Ag. CuEq(%) = Cu(%) + 0.48 x Au(g/t) + 0.00030 x Mo(ppm) + 0.0044 x Ag(g/t). Productora – Weighted recoveries of 84% Cu, 47% Au, 48% Mo and 18% Ag. CuEq(%) = Cu(%) + 0.46 x Au(g/t) + 0.00026 x Mo(ppm) + 0.0021 x Ag(g/t). Costa Fuego – Recoveries of 83% Cu, 53% Au, 71% Mo and 26% Ag. CuEq(%) = Cu(%) + 0.53 x Au(g/t) + 0.00040 x Mo(ppm) + 0.0030 x Ag(g/t) 9 Copper Equivalent (CuEq) grades are calculated based on the formula: CuEq% = ((Cu% × Cu price 1% per tonne × Cu_recovery) + (Mo ppm × Mo price per g/t × Mo_recovery) + (Au ppm × Au price per g/t × Au_recovery) + (Ag ppm × Ag price per g/t × Ag_recovery)) / (Cu price 1% per tonne × Cu recovery). The base case cut-off grade for Mineral Resources considered amenable to open pit extraction methods at the Cortadera, Productora, Alice and San Antonio deposits is 0.20% CuEq, while the cut-off grade for Mineral Resources considered amenable to underground extraction methods at the Cortadera deposit is 0.27% CuEq. It is the Company's opinion that all the elements included in the CuEq calculation have a reasonable potential to be recovered and sold. 10 Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. The MRE include Inferred Mineral Resources that are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorised as Mineral Reserves. It is reasonably expected that the majority of Inferred mineral resources could be upgraded to Measured or Indicated Mineral Resources with continued exploration. 11 The effective date of the MRE is 26 February 2024. The MRE were previously reported in Hot Chili's technical report entitled "Costa Fuego Copper Project – NI 43-101 Technical Report Mineral Resource Estimate Update" dated 8 April 2024 with an effective date of 26 February 2024 (the "2024 MRE"). Hot Chili confirms it is not aware of any new information or data that materially affects the information included in the 2024 PEA and all material assumptions and technical parameters stated for the MRE in the 2024 PEA continue to apply and have not materially changed. 12 Hot Chili Limited is not aware of political, environmental, or other risks that could materially affect the potential development of the Mineral Resources other than as disclosed in the 2024 PEA. A detailed list of Costa Fuego Project risks is included in Chapter 25.12 of the 2024 Fuego Mineral Reserve Estimate (March 2025)Grade Contained MetalTonnes Cu Au Ag Mo Cu Au Ag Mo (Mt) ( %) (g/t) (g/t) (ppm) (kt) (koz) (koz) (kt) Open Pit Concentrator Proven - - - - - - - - - Probable 293 0.36 0.08 0.37 113 1 043 728 3 517 33 Total 293 0.36 0.08 0.37 113 1 043 728 3 517 33Heap Leach Proven - - - - - - - - - Probable 41 0.35 0.07 0.43 35 142 96 563 1 Total 41 0.35 0.07 0.43 35 142 96 563 1Dump Leach Proven - - - - - - - - - Probable 22 0.13 0.03 0.23 41 29 20 168 1 Total 22 0.13 0.03 0.23 41 29 20 168 1Combined Proven - - - - - - - - - Probable 356 0.34 0.07 0.37 98 1 213 844 4 248 35 Total 356 0.34 0.07 0.37 98 1 213 844 4 248 35Underground Concentrator Proven - - - - - - - - - Probable 146 0.44 0.16 0.79 93 645 734 3 704 14 Total 146 0.44 0.16 0.79 93 645 734 3 704 14Combined (Open Pit and Underground) Proven - - - - - - - - - Probable 502 0.37 0.10 0.49 97 1 858 1 578 7 951 49 Total 502 0.37 0.10 0.49 97 1 858 1 578 7 951 49 1Mineral Reserves are reported on a 100% Basis - combining Mineral Reserve estimates for the Cortadera, Productora, Alice and San Antonio deposits, and have an effective date of 27 March 2025. 2An Ore Reserve (declared in accordance with JORC Code 2012) was previously reported at Productora, a component of Costa Fuego, on 2nd March 2016 on the ASX. The Company was not subject to the requirements of NI 43-101 at that time. 3Mineral Reserve estimation practices are in accordance with CIM Estimation of Mineral Resource and Mineral Reserve Best Practice Guidelines (29 November 2019) and reported in accordance CIM Definition Standards for Mineral Resources and Mineral Reserves (10 May 2014) that are incorporated by reference into NI 43-101. Mineral Reserve estimates are in accordance with the JORC Code. References to "Mineral Reserves" mean "Ore Reserves" as defined in the JORC Code and references to "Proven Mineral Reserves" mean "Proved Ore Reserves" as defined in the JORC Code. 4The Mineral Reserve reported above was not additive to the Mineral Resource. The Mineral Reserve is based on the 26 February 2024 Mineral Resource. 5Tonnages and grades are rounded to two significant figures. All figures are rounded, reported to appropriate significant figures and reported in accordance with the Joint Ore Reserves Committee Code (2012) and NI 43-101. As each number is rounded individually, the table may show apparent inconsistencies between the sum of rounded components and the corresponding rounded total. 6Mineral Reserves are reported using long-term metal prices of US$4.30/lb Cu, US$2,280/oz Au, US$27/oz Ag, US$20/lb Mo. 7The Mineral Reserve tonnages and grades are estimated and reported as delivered to plant (the point where material is delivered to the processing facility) and is therefore inclusive of ore loss and dilution. 8The Productora deposit is 100% owned by Chilean incorporated company Sociedad Minera El Aguila SpA (SMEA). SMEA is a joint venture (JV) company – 80% owned by Sociedad Minera El Corazón SpA (a 100% subsidiary of Hot Chili), and 20% owned by Compañía Minera del Pacífico S.A (CMP). 9The Cortadera deposit is controlled by a Chilean incorporated company Sociedad Minera La Frontera SpA (Frontera). Frontera is a subsidiary company – 100% owned by Sociedad Minera El Corazón SpA, which is a 100% subsidiary of Hot Chili. 10The San Antonio deposit is controlled through Frontera (100% owned by Sociedad Minera El Corazón SpA, which is a 100% subsidiary of Hot Chili) and Frontera is party to an Option Agreement pursuant to which it can earn a 100% interest in the property. 11The Mineral Reserve Estimate as of 27 March 2025 for Costa Fuego was prepared by Anton von Wielligh, Fellow with the AUSIMM (FAUSIMM). Mr. von Wielligh fulfils the requirements to be a "Qualified Person" within the meaning of NI 43-101 and is the Competent Person under JORC for the Mineral Reserve. 12Hot Chili Limited is not aware of political, environmental, or other risks that could materially affect the potential development of the Mineral Reserves other than those that will be disclosed in a technical report for the PFS. A detailed list of Costa Fuego Project risks is also included in Chapter 25.12 of the 2024 5B Mining exploration entity or oil and gas exploration entityquarterly cash flow report Name of entity Hot Chili Limited ABN Quarter ended ("current quarter") 91 130 955 72531 March 2025 Consolidated statement of cash flows Current quarter$A'000 Year to date (9 months)$A'000 1. Cash flows from operating activities - - 1.1 Receipts from customers 1.2 Payments for(a) exploration & evaluation * (7,894) (16,751)(a) development - -(b) production - -(c) staff costs (437) (1,566)(d) administration and corporate costs (2,083) (4,571) 1.3 Dividends received (see note 3) - - 1.4 Interest received 88 444 1.5 Interest and other costs of finance paid - - 1.6 Income taxes paid - - 1.7 Government grants and tax incentives - - 1.8 Other (provide details if material) - - 1.9 Net cash from / (used in) operating activities (10,326) (22,444) * Included in this amount was $4.0m related to the advancement of the Costa Fuego and Huasco Water PFS and the Costa Fuego EIA. Approx $3.9m was spent on exploration and drilling activities on the La Verde discovery and surrounding Domeyko landholding. 2. Cash flows from investing activities - - 2.1 Payments to acquire or for:(a) entities (b) tenements (1,082) (3,554)(c) property, plant and equipment (11) (70)(d) exploration & evaluation - -(e) investments - -(f) other non-current assets - - 2.2 Proceeds from the disposal of: - -(a) entities (b) tenements - -(c) property, plant and equipment - -(d) investments - -(e) other non-current assets - - 2.3 Cash flows from loans to other entities - - 2.4 Dividends received (see note 3) - - 2.5 Other - - 2.6 Net cash from / (used in) investing activities (1,093) (3,624)3. Cash flows from financing activities - - 3.1 Proceeds from issues of equity securities (excluding convertible debt securities) 3.2 Proceeds from issue of convertible debt securities - - 3.3 Proceeds from exercise of options - - 3.4 Transaction costs related to issues of equity securities or convertible debt securities - (117) 3.5 Proceeds from borrowings - - 3.6 Repayment of borrowings - - 3.7 Transaction costs related to loans and borrowings - - 3.8 Dividends paid - - 3.9 Other (provide details if material) - - 3.10 Net cash from / (used in) financing activities - (117)4. Net increase / (decrease) in cash and cash equivalents for the period 4.1 Cash and cash equivalents at beginning of period 19,032 33,742 4.2 Net cash from / (used in) operating activities (item 1.9 above) (10,326) (22,444) 4.3 Net cash from / (used in) investing activities (item 2.6 above) (1,093) (3,624) 4.4 Net cash from / (used in) financing activities (item 3.10 above) - (117) 4.5 Effect of movement in exchange rates on cash held (100) (44) 4.6 Cash and cash equivalents at end of period 7,513 7,513 5. Reconciliation of cash and cash equivalentsat the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts Current quarter$A'000 Previous quarter$A'000 5.1 Bank balances 2,513 14,032 5.2 Call deposits 5,000 5,000 5.3 Bank overdrafts - - 5.4 Other (provide details) - - 5.5 Cash and cash equivalents at end of quarter (should equal item 4.6 above) 7,513 19,032 6. Payments to related parties of the entity and their associates Current quarter$A'000 6.1 Aggregate amount of payments to related parties and their associates included in item 1 126 6.2 Aggregate amount of payments to related parties and their associates included in item 2 - Note: if any amounts are shown in items 6.1 or 6.2, your quarterly activity report must include a description of, and an explanation for, such payments. 7. Financing facilitiesNote: the term "facility' includes all forms of financing arrangements available to the entity. Add notes as necessary for an understanding of the sources of finance available to the entity. Total facility amount at quarter end$A'000 Amount drawn at quarter end$A'000 7.1 Loan facilities - - 7.2 Credit standby arrangements - - 7.3 Other (please specify) - - 7.4 Total financing facilities - -7.5 Unused financing facilities available at quarter end - 7.6 Include in the box below a description of each facility above, including the lender, interest rate, maturity date and whether it is secured or unsecured. If any additional financing facilities have been entered into or are proposed to be entered into after quarter end, include a note providing details of those facilities as well.8. Estimated cash available for future operating activities $A'000 8.1 Net cash from / (used in) operating activities (item 1.9) (10,326) 8.2 (Payments for exploration & evaluation classified as investing activities) (item 2.1(d)) - 8.3 Total relevant outgoings (item 8.1 + item 8.2) (10,326) 8.4 Cash and cash equivalents at quarter end (item 4.6) 7,513 8.5 Unused finance facilities available at quarter end (item 7.5) - 8.6 Total available funding (item 8.4 + item 8.5) 7,5138.7 Estimated quarters of funding available (item 8.6 divided by item 8.3) 0.73 Note: if the entity has reported positive relevant outgoings (ie a net cash inflow) in item 8.3, answer item 8.7 as "N/A". Otherwise, a figure for the estimated quarters of funding available must be included in item 8.7. 8.8 If item 8.7 is less than 2 quarters, please provide answers to the following questions:8.8.1 Does the entity expect that it will continue to have the current level of net operating cash flows for the time being and, if not, why not? Significant reduction in cash outflows are expected due to the release of both the Costa Fuego and Huasco Water PFS during the quarter, with only optimisation activities expected during the next two quarters. Exploration activities will also be significantly reduced, with drilling activities at La Verde having been completed on 10th April 2025. Future cash outflows are expected to be reduced by 60-65% compared to this quarter.8.8.2 Has the entity taken any steps, or does it propose to take any steps, to raise further cash to fund its operations and, if so, what are those steps and how likely does it believe that they will be successful?The Company is expected to receive $5m in JV recoup and VAT refunds over the coming months. The Company continues to advance potential strategic funding discussions with asset level investment opportunities for Costa Fuego and Huasco Water.8.8.3 Does the entity expect to be able to continue its operations and to meet its business objectives and, if so, on what basis? Any future drilling will be targeted and cost effective and funded by working capital. Drilling can be postponed at any time to ensure commitments in the next two quarters can be where item 8.7 is less than 2 quarters, all of questions 8.8.1, 8.8.2 and 8.8.3 above must be answered. Compliance statement 1 This statement has been prepared in accordance with accounting standards and policies which comply with Listing Rule 19.11A. 2 This statement gives a true and fair view of the matters disclosed. Date: 24th April 2025 Authorised by: By the Board (Name of body or officer authorising release – see note 4) Notes 1. This quarterly cash flow report and the accompanying activity report provide a basis for informing the market about the entity's activities for the past quarter, how they have been financed and the effect this has had on its cash position. An entity that wishes to disclose additional information over and above the minimum required under the Listing Rules is encouraged to do so. 2. If this quarterly cash flow report has been prepared in accordance with Australian Accounting Standards, the definitions in, and provisions of, AASB 6: Exploration for and Evaluation of Mineral Resources and AASB 107: Statement of Cash Flows apply to this report. If this quarterly cash flow report has been prepared in accordance with other accounting standards agreed by ASX pursuant to Listing Rule 19.11A, the corresponding equivalent standards apply to this report. 3. Dividends received may be classified either as cash flows from operating activities or cash flows from investing activities, depending on the accounting policy of the entity. 4. If this report has been authorised for release to the market by your board of directors, you can insert here: "By the board". If it has been authorised for release to the market by a committee of your board of directors, you can insert here: "By the [name of board committee – eg Audit and Risk Committee]". If it has been authorised for release to the market by a disclosure committee, you can insert here: "By the Disclosure Committee". 5. If this report has been authorised for release to the market by your board of directors and you wish to hold yourself out as complying with recommendation 4.2 of the ASX Corporate Governance Council's Corporate Governance Principles and Recommendations, the board should have received a declaration from its CEO and CFO that, in their opinion, the financial records of the entity have been properly maintained, that this report complies with the appropriate accounting standards and gives a true and fair view of the cash flows of the entity, and that their opinion has been formed on the basis of a sound system of risk management and internal control which is operating effectively. Contact: Mr Christian Easterday, Managing Director, E: admin@ View original content to download multimedia: SOURCE Hot Chili Limited View original content to download multimedia:
Associated Press
23-03-2025
- Business
- Associated Press
PPTA INVESTOR ALERT: Bronstein, Gewirtz & Grossman LLC Announces that Perpetua Resources Corp. Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit
NEW YORK, March 23, 2025 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC, a nationally recognized law firm, notifies investors that a class action lawsuit has been filed against Perpetua Resources Corp. ('Perpetua' or 'the Company') (NASDAQ: PPTA) and certain of its officers. Class Definition This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired Perpetua securities between April 17, 2024 and February 13, 2025, both dates inclusive (the 'Class Period'). Such investors are encouraged to join this case by visiting the firm's site: Case Details The Complaint alleges that throughout the Class Period, Defendants provided investors with material information concerning Perpetua's expected initial capital expenditure for the Stibnite Gold Project. Defendants' statements included, among other things, minimization of the impact of inflation and other potential sources for increased capital expenditure costs for the project. On February 13, 2025, Perpetua disclosed in a filing with the U.S. Securities and Exchange Commission that the Company had 'released an updated cash flow model for the Stibnite Gold Project (the 'Project'), which is based, in part, on basic engineering work completed by Ausenco Engineering USA South Inc. ('Ausenco') in January 2025 (the 'Financial Update').' Perpetua said that the 'Financial Update also applies fourth quarter 2024 cost estimates for construction and operations, consistent with the Basic Engineering analysis, as well as current and consensus commodity pricing for sales' and that 'the Financial Model reflects an increase in initial and total capital expenditures and LOM AISC compared to the base model included in the 2020 Feasibility Study' for the Project. On this news, Perpetua's stock price fell $2.68 per share, or 22.39%, to close at $9.29 per share on February 14, 2025. What's Next? A class action lawsuit has already been filed. If you wish to review a copy of the Complaint, you can visit the firm's site: or you may contact Peretz Bronstein, Esq. or his Client Relations Manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC at 332-239-2660. If you suffered a loss in Perpetua you have until May 20, 2025, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as lead plaintiff. There is No Cost to You We represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys' fees, usually a percentage of the total recovery, only if we are successful. Why Bronstein, Gewirtz & Grossman Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide. Contact Bronstein, Gewirtz & Grossman, LLC
