1. Dr. Adshead-Bell and Mr. Quin resign from HHLKF's Board immediately. 2. Company prepares to release Pre-feasibility Studies for Costa Fuego project. 3. Recent La Verde copper-gold discovery enhances Costa Fuego's potential. 4. Further board appointments aim to strengthen company capabilities. 5. Anticipated updates will inform market about company's next steps.
The resignations could lead to fresh strategic leadership and new directions. Successful project developments and discoveries often result in stock price increases, supported by historical examples like Ivanhoe Mines' leadership changes leading to project success.
The leadership change signals potential strategic shifts impacting investor confidence and project execution. Given the significance of the Costa Fuego project and recent discovery, market attention will be on HHLKF.
The impact of board changes and project developments typically unfolds over time. Recent leadership changes in similar companies have resulted in significant long-term value creation.
PERTH, Australia, March 11, 2025 /PRNewswire/ - Hot Chili Limited (ASX: HCH) (TSXV: HCH) (OTCQX: HHLKF) ("Hot Chili" or the "Company") wishes to advise that Dr Nicole Adshead-Bell, Non-Executive Chair and Mr Stephen Quin, Non-Executive Director have tendered their resignations as Directors of the Company, effective immediately.
The Board extends its sincere appreciation to both Dr Adshead-Bell and Mr Quin for their dedicated service and valuable contributions during their tenure with the Company. The Board wishes them both well in their future endeavours.
With the impending release of the Company's Pre-feasibility Studies for its Chilean Costa Fuego copper-gold project and Huasco Water project, Hot Chili is preparing its next steps toward a final phase of development.
Further board appointments aim to strengthen the Company's capability at an important inflection in the Company's growth, with the recent announcement of a significant porphyry copper gold discovery at La Verde adding further upside to Costa Fuego's scale.
The Company looks forward to providing further updates to the market.
This announcement was approved and authorised for release by: Christian Easterday, Managing Director & CEO
Christian Easterday
Managing Director – Hot Chili
Tel: +61 8 9315 9009
Email: [email protected]
Carol Marinkovich
Company Secretary – Hot Chili
Tel: +61 8 9315 9009
Email: [email protected]
Graham Farrell
Investor & Public Relations
Email: [email protected]
or visit Hot Chili's website at www.hotchili.net.au
1 ASX Release dated 11 February 2025
SOURCE Hot Chili Limited