Hot Chili raises $18.8mn for Chilean Corteda project

Hot Chili has raised $18.8 million in an institutional placement to fund payment of the Corteda copper/gold discovery and to accelerate drilling work. The company said that it had arranged for the placement of 609.8 million shares, at an issue price of 4.2c each to sophisticated and professional investors. The placement will be made in two tranches, with the first tranche consisting of more than 597.8 million shares and the second of more than 353.9 million shares.

Source: Mining Weekly