Slide 1: Amended Release: PDAC 22 Presentation
For personal use only ASX Announcement 14 June 2022 Amended Release : PDAC 22 Presentation Hot Chili Limited (ASX:HCH) (TSXV:HCH) OTCQX:HHLKF) releases a revised PDAC 22 Presentation which replaces the presentation released earlier today. Page 4 of the previous presentation reading “Started Costa Fu
Slide 2: Costa Fuego: Timing is Everything
Cu Costa Fuego Timing is Everything For personal use only June 13-16th 2022 Toronto, Canada www.hotchili.net.au ASX: HCH I TSXV: HCH I OTCQB: HHLKF
Slide 3: Disclaimer
Disclaimer This document is for information purposes only and should not be considered a recommendation to purchase, sell or hold a security. This document does not constitute an offering memorandum or an offer or solicitation in any province or other jurisdiction in which an offer or solicitation i
Slide 4: Right Project, Right Team, Right Time
Right Project, Right Team, Right Time Rising demand and paucity of new copper supply will drive Cu prices For personal use only ✓ Only low-altitude sizeable copper developer positioned for production in next 5 years $5.00 Cu $4.50 ✓ Backed by Glencore $4.00 ✓ Strong ESG credentials Cu Price (US$/lb)
Slide 5: 2021 Achievements
2021 Achievements Delivered into guidance For personal use only ✓ Completed 47,000m of resource upgrade drilling at Cortadera ✓ Started Costa Fuego PFS – was due Q3/22, now with revised completion Q1/23 ✓ Attracted a major diversified miner (Glencore) as a core 9.96% shareholder ✓ Made final payment
Slide 6: Leadership – Fit For Purpose
Leadership – Fit For Purpose Chilean and exploration, permitting, project financing, construction and operating expertise For personal use only Board Management Dr Nicole Adshead-Bell, Chairman Penelope Beattie, Company Secretary & CFO Appointed March 2022 Chartered CA with >20 years global experien
Slide 7: Corporate Overview
Corporate Overview Top 5 shareholders total >37% ownership, fully funded to mid-2023 ASX: HCH I TSXV: HCH I OTCQB: HHLKF For personal use only Capital Structure 3 Year Share Price Performance Issued Shares 112,857,080 Share Price A$1.07 (10 June 22) Mkt A$121 M (10 June 22) Capitalisation Mkt Capita
Slide 8: Chile – Home to Copper Giants
Chile – Home to Copper Giants Top 20 copper mines by annual production For personal use only Copper is a critical metal in the global electrification movement that is forecast to drive copper demand through the next decade PFS Stage Development Study Scale (per annum) 100kt Cu, 70-80koz Au Chile is
Slide 9: Costa Fuego is a Copper Super-Hub
Costa Fuego is a Copper Super-Hub Low elevation, proximal infrastructure decreases economic hurdle For personal use only Top 10* Undeveloped Cu Resource (S&P) on coast of #1 Global Producer - Chile Q1 22 - Resource Upgrade On-time, In-Guidance 2.8 Mt (Ind) 2.6 Moz (Ind) 0.6 Mt (Inf) 0.4 Moz (Inf) Co
Slide 10: Keys to Success in Copper Hub
Valentina Productora Costa For personal use only Fuego Keys to Success in Copper Hub Big Copper Timing! San Antonio Grade Top 5 in 20 largest undeveloped Cu projects (non-major) Cortadera Two large-scale deposits, from Geometry surface, low strip-ratio, open pit Good recovery, clean concentrate (no
Slide 11: Next Level of Growth & Location, Location, Location
Next Level of Growth & Location, Location, Location Low altitude, infrastructure and access with 55km to port(1) For personal use only +67% Ind Resource +53% HG Ind Resource (One Third of Resource Base) 156Mt @ 0.79% CuEq for 1Mt Cu & 0.85Moz Au (1) See slides 34-36 for complete Resource disclosure
Slide 12: Paucity of New Copper Discoveries
Paucity of New Copper Discoveries Cortadera is just one of two major global copper discoveries since 2016 For personal use only Cortadera - New Large Cu Discovery Hot Chili Presentation 11
Slide 13: Cortadera Porphyry Discovery
Cortadera Porphyry Discovery 1.7Mt Cu & 1.8Moz Au (Ind) in 30 Months Speed of advancement demonstrates quality For personal use only Cortadera Timeline ✓ Deal to acquire 100% of Cortadera in Feb/19 ✓ Delivered compelling drill results by Jul/19 ✓ Resource Estimates in Oct/20 & March/22 ✓ Largest coa
Slide 14: Cortadera – Over 92,000m drilling
Cortadera – Over 92,000m drilling Centerpiece of Costa Fuego Copper Super Hub For personal use only Standout Strong Drill Drill Results Results Discovery footprint defined but not closed-off 2 diamond drill rigs active Next phase of drilling underway Results pending See ASX Announcement “Higher Grad
Slide 15: Cortadera - Open Pit & UG Resource
Cortadera - Open Pit & UG Resource Over 1km Vertical Copper-Gold Porphyry Extent For personal use only +134% Ind Resource (1) See slide 35 for complete Resource disclosure of Cortadera Hot Chili Presentation 14
Slide 16: Cortadera’s Cuerpo Porphyry
Cortadera’s Cuerpo 3 Porphyry Large High Grade Core Expanded & Upgraded to Indicated For personal use only Dr Steve Garwin (SOLG & HCH) Leading HCH technical team Robust Definition of High Grade Core Ready for Mine Optimisation (Open Pit & UG) (1) See slide 35 for complete Resource disclosure of Cor
Slide 17: Productora Copper-Gold Deposit
Productora Copper-Gold Deposit Upgraded Resource Estimate for Front-End Mine Schedule For personal use only (1) See slide 36 for complete Resource disclosure of Productora Hot Chili Presentation 16
Slide 18: Productora – Updated and Shovel Ready
Productora – Updated and Shovel Ready Shallow High Grade Resources for First Decade of Production For personal use only ➢ New resource following 18 month review of data and new mine development ➢ Material increase in high grade (+0.6% CuEq) Indicated material, as well as improved spatial continuity
Slide 19: San Antonio Maiden Resource
San Antonio Maiden Resource First of the High Grade Satellite deposits for Costa Fuego For personal use only Open pittable, +1% Cu resource from surface (1) See slide 35 for complete Resource disclosure of San Antonio Hot Chili Presentation 18
Slide 20: New Drill Results – Next Level of Growth
New Drill Results – Next Level of Growth High Grade Growth at Cortadera Continues For personal use only New Results Post March 2022 876m grading 0.5% CuEq from 246m depth, including 206m grading 0.9% CuEq 552m grading 0.6% CuEq from 276m depth, including 248m at 0.8% CuEq 658m grading 0.6% CuEq from
Slide 21: High Grade Satellite Drilling Delivers
High Grade Satellite Drilling Delivers Drilling Underway at Valentina and San Antonio For personal use only ➢ Stunning 17m visual drill result at Valentina (VALMET-002 – Results Pending) o 17m visual estimate of 2-3% copper mineralisation from 22m depth (malachite, copper clays, chalcopyrite, chalco
Slide 22: Valentina – Pretty in Pink
Valentina – Pretty in Pink Shallow High Grade Resource Potential Open for Growth For personal use only VALMET-002 Pink Cuprite at 35.3m VALMET-002 Malachite at 27m Refer to ASX Announcement “Stunning 17m Visual Drill Intersection at Valentina” (13th June 2022). Hot Chili Presentation 21
Slide 23: Regional Organic Growth Opportunities
Regional Organic Growth Opportunities Large porphyry cluster potential Ready to Drill For personal use only Santiago Z Larger footprint than Cortadera Drilling planned to commence in July Cortadera Along-strike of discovery window not tested & open Drilling planned to commence in August Refer to ASX
Slide 24: Positioned for Development – 82% Ind
Positioned for Development – 82% Ind Costa Fuego is one of the few global copper development projects with no infrastructure or permitting impediments to timely production For personal use only ➢ One of the few low-altitude, no arsenic, infrastructure heavy, major copper development projects See sli
Slide 25: Re-Rating Opportunity
Re-Rating Opportunity Hot Chili has one of the most advanced copper development projects in the Americas, with one of the lowest economic hurdles For personal use only HCH.V NWST.V REG.V WRN.TO MARI.TO LA.V JOSE.TO SOLG.TO SLS.TO FIL.TO $0.208 $0.169 $0.154 Average Mkt Cap/CuEq (US$/lb): $0.065 $0.0
Slide 26: Responsible, Respectful & Sustainable
Responsible, Respectful & Sustainable Building trust with all stakeholders For personal use only Pro-active Approach ✓ Engaged Digbee ESG ✓ Implementing ESG Board Committee Environmental ✓ Leveraging existing infrastructure (port, power, roads) ✓ Foundation of low-emission Chilean grid power ✓ Aim t
Slide 27: Major Growth Catalysts
Major Growth Catalysts A$24M in cash, fully funded to mid-2023 for development & growth objectives For personal use only ✓ Q1 2022: Sizeable exploration drill programme now underway, with 3 drill rigs operating ✓ Q1 2022: Concentrate off-take agreement executed 60% off-take for first 8 years of prod
Slide 28: Overlooked & Undervalued
Overlooked & Undervalued Ready to rerate in 2022 For personal use only ➢ Most undervalued junior company with a material and advanced senior copper development project (PFS level) ➢ Low economic and time hurdle to development ➢ Backed by diversified major – Glencore ➢ Near-term material resource gro
Slide 29: Appendix
APPENDIX For personal use only Hot Chili Presentation 28
Slide 30: The Top Copper Mines by Capacity
The Top 20 Copper Mines by Capacity Thousand metric tonnes copper For personal use only Source: S&P Global Market Intelligence, 2022 29
Slide 31: Copper Overtakes Gold
Copper Overtakes Gold Annual Markets in 2022 For personal use only 30
Slide 32: Costa Fuego Benchmark Graph Detail
Costa Fuego Benchmark Graph Detail For personal use only Hot Chili Presentation 31
Slide 33: Costa Fuego Benchmark Graph Detail Cont.
Costa Fuego Benchmark Graph Detail Cont. For personal use only Hot Chili Presentation 32
Slide 34: Qualifying Statements
For personal use only QUALIFYING STATEMENTS Drilling at San Antonio, June 2022 Hot Chili Presentation 33
Slide 35: Qualifying Statements
Qualifying Statements Scientific & Technical Information (NI 43-101) For personal use only QUALIFIED PERSON AND REPORTING STANDARD The Cortadera, Productora and San Antonio MRE’s are reported to the standard of the Canadian National Instrument 43-101 “Standards of Disclosure for Mineral Projects”, a
Slide 36: Qualifying Statements
Qualifying Statements Scientific & Technical Information (NI 43-101) For personal use only QUALIFIED PERSON Competent Person’s Statement- Exploration Results Exploration information in this Announcement is based upon work compiled by Mr Christian Easterday, the Managing Director and a full-time empl
Slide 37: Notes to Mineral Resource Disclosure
Notes to Mineral Resource Disclosure For personal use only Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. Costa Fuego Copper-Gold Project Mineral Resource Estimate, March 2022 (using +0.25% CuEq cut-off grade) and by open pit (top), underground (middle) a
Slide 38: Notes to Mineral Resource Disclosure
Notes to Mineral Resource Disclosure For personal use only Cortadera Deposit Mineral Resource Estimate, March 2022 (open pit, using +0.21% CuEq cut-off grade & UG using 0.30% CuEq) 1 Reported on a 100% Basis - combining Mineral Resource estimates for the Cortadera, Productora and San Antonio deposit
Slide 39: Notes to Mineral Resource Disclosure
Notes to Mineral Resource Disclosure For personal use only Productora Deposit Mineral Resource Estimate, March 2022- reported by classification (open pit, using +0.21% CuEq cut-off grade) San Antonio Deposit Mineral Resource Estimate, March 2022reported by classification (open pit, using +0.21% CuEq
Slide 40: Details for Significant Drilling Results
Details for Significant Drilling Results In Presentation For personal use only Coordinates Hole Intersection Interval Copper Gold Silver Molybdenum Hole_ID Azim Dip North East RL Depth From To (m) (% Cu) (g/t Au) (ppm Ag) (ppm Mo) CRP0011D 6813925 336192.8 1027.481 45 -65 959.9 112 960 848 0.4 0.2 0
Slide 41: Sampling, Analysis & Data Verification
Sampling, Analysis & Data Verification For personal use only A fixed cone splitter was used to create two nominal 12.5% samples (Sample "A" and "B"), along with the large bulk reject sample. The "A" sample is always taken from the same sampling chute, and comprises the primary sample submitted to th
Slide 42: Sampling, Analysis & Data Verification Cont.
Sampling, Analysis & Data Verification Cont. For personal use only Hot Chili has strict chain of custody security procedures for all samples sent to and from the analytical laboratories. The ALS analytical laboratory in Coquimbo (Chile) completed all sample preparation and specific gravity test work
Slide 43: For personal use only
For personal use only Hot Chili Limited ACN 130 955 725 ASX Investor Investor & Public Email: eliza@asxinvestor.com.au First Floor, 768 Canning Highway, Applecross, Western Australia 6153 Relations (Australia) PO Box 1725, Applecross, Western Australia 6953 P: +61 8 9315 9009 Harbor Access Email: Gr