Hot Chili Secures US$15 Million with OR Royalties Inc.
Key points
- US$15 million in additional funding from OR Royalties Inc.
- La Verde added to OR's royalty footprint
- Total royalty consideration under OR arrangement now US$30 million
- Closing of transactions expected in July 2026
Full summary
Hot Chili Limited has executed an Amended and Restated Investment Agreement with OR Royalties Inc., resulting in a US$15 million cash payment to Hot Chili. This agreement brings the total royalty consideration to US$30 million for the Costa Fuego Cu-Au Project, including the La Verde deposit. The La Verde deposit, a pre-resource asset, has been added to OR's royalty footprint, signaling strong potential for the district. Hot Chili plans to use the funds for exploration and development of the La Verde and broader Costa Fuego project. The transaction is expected to close in July 2026, subject to customary conditions.
Guidance
Hot Chili expects to receive US$15 million at closing of the A&R Investment Agreement in July 2026.
Outlook
Hot Chili anticipates delivering strong news flow ahead of a maiden Mineral Resource Estimate for La Verde and a revised Pre-Feasibility Study for Costa Fuego.
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