{"id":29752,"date":"2024-08-21T11:22:04","date_gmt":"2024-08-21T15:22:04","guid":{"rendered":"https:\/\/capital10x.com\/old\/?p=29752"},"modified":"2024-08-22T14:12:15","modified_gmt":"2024-08-22T18:12:15","slug":"next-copper-takeout-costa-fuego","status":"publish","type":"post","link":"https:\/\/capital10x.com\/old\/next-copper-takeout-costa-fuego\/","title":{"rendered":"Looking for the Next Copper Takeout Target: Hot Chili&#8217;s Costa Fuego Ticks All the Right Boxes"},"content":{"rendered":"<p>&nbsp;<\/p>\n<p>The acquisition of Filo Mining by BHP and partner Lundin Mining has kicked off a likely merger wave in the copper industry.<\/p>\n<p>In our view, the majors are looking for high grade assets with the potential for significant production within the next six years, a period when copper is very likely to remain undersupplied, based on most industry forecasts.<\/p>\n<div class=\"youtube-embed\" data-video_id=\"UCIAUENte0o\"><iframe loading=\"lazy\" title=\"Hot Chili: Championing the World&#039;s Next Major Copper Hub\" width=\"696\" height=\"392\" src=\"https:\/\/www.youtube.com\/embed\/UCIAUENte0o?feature=oembed&#038;enablejsapi=1&#038;enablejsapi=1&#038;origin=https:\/\/capital10x.com\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/div>\n<p>Industry estimates see 7-8mtpa of new copper demand by 2030 compared to visible supply of only 2-3mtpa. A supply shortage is looming.<\/p>\n<figure id=\"attachment_29915\" aria-describedby=\"caption-attachment-29915\" style=\"width: 1973px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-29915 size-full\" src=\"https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/07\/scene03.png\" alt=\"\" width=\"1973\" height=\"1075\" srcset=\"https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/07\/scene03.png 1973w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/07\/scene03-300x163.png 300w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/07\/scene03-1024x558.png 1024w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/07\/scene03-768x418.png 768w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/07\/scene03-1536x837.png 1536w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/07\/scene03-696x379.png 696w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/07\/scene03-1392x758.png 1392w\" sizes=\"auto, (max-width: 1973px) 100vw, 1973px\" \/><figcaption id=\"caption-attachment-29915\" class=\"wp-caption-text\">Source: S&amp;P, RBC Estimates, Bloomberg NEF<\/figcaption><\/figure>\n<p>Looking across the junior landscape for the next buyout target, there are a half dozen companies that tick most of the boxes for a major, but none more than Chile based explorer and developer Hot Chili (Ticker: HCH).<\/p>\n<ul>\n<li>A neighbor to Filo in the Atacama region with similar exploration potential.<\/li>\n<li>A project with the same economics and potential production &amp; resource increases on the horizon.<\/li>\n<li>Special water rights, driving industry leading low costs and optionality from a standalone water company spinoff.<\/li>\n<li>Dirt cheap public valuation, 97% below Filo&#8217;s buyout multiple.<\/li>\n<li>Backed by Glencore, a 7.5% shareholder.<\/li>\n<li>Well funded for the next 18 months including the release of a PFS study by year end.<\/li>\n<\/ul>\n<h4>Hot Chili A Neighbor and Potential Water Supplier to Filo<\/h4>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-29895\" src=\"https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/07\/Hot-Chili-vs-Filo-Map-August-2024.png\" alt=\"\" width=\"979\" height=\"544\" srcset=\"https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/07\/Hot-Chili-vs-Filo-Map-August-2024.png 979w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/07\/Hot-Chili-vs-Filo-Map-August-2024-300x167.png 300w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/07\/Hot-Chili-vs-Filo-Map-August-2024-768x427.png 768w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/07\/Hot-Chili-vs-Filo-Map-August-2024-696x387.png 696w\" sizes=\"auto, (max-width: 979px) 100vw, 979px\" \/><\/p>\n<p>Filo was taken out for 2.3x NAV while Hot Chili trades at a frankly ridiculous 0.07x NAV with a project of similar value and size.<\/p>\n<h4>Costa Fuego Project Compared to Filo&#8217;s Filo Del Sol<\/h4>\n<table width=\"331\">\n<tbody>\n<tr style=\"border-color: #4936f5; background-color: #2c1ef7;\">\n<td width=\"174\"><strong><span style=\"color: #ffffff;\">Project Comparison<\/span><\/strong><\/td>\n<td style=\"text-align: center;\" width=\"88\"><strong><span style=\"color: #ffffff;\">Hot Chili<\/span><\/strong><\/td>\n<td style=\"text-align: center;\" width=\"69\"><strong><span style=\"color: #ffffff;\">Filo Mining<\/span><\/strong><\/td>\n<\/tr>\n<tr>\n<td>After Tax NPV (8%) ($USD)<\/td>\n<td style=\"text-align: center;\">$1,100<\/td>\n<td style=\"text-align: center;\">$1,300<\/td>\n<\/tr>\n<tr>\n<td>IRR %<\/td>\n<td style=\"text-align: center;\">20%<\/td>\n<td style=\"text-align: center;\">21%<\/td>\n<\/tr>\n<tr>\n<td>Annual Production (kt Cu)<\/td>\n<td style=\"text-align: center;\">95<\/td>\n<td style=\"text-align: center;\">66<\/td>\n<\/tr>\n<tr>\n<td>Annual Production (koz Au)<\/td>\n<td style=\"text-align: center;\">49<\/td>\n<td style=\"text-align: center;\">168<\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td style=\"text-align: center;\"><\/td>\n<td style=\"text-align: center;\"><\/td>\n<\/tr>\n<tr>\n<td>Upfront Capital (Billion $USD)<\/td>\n<td style=\"text-align: center;\">1.05<\/td>\n<td style=\"text-align: center;\">1.81<\/td>\n<\/tr>\n<tr>\n<td>Cash Costs ($\/lb Cu)<\/td>\n<td style=\"text-align: center;\">$1.33<\/td>\n<td style=\"text-align: center;\">$1.54<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h5>Source: Company Filings<\/h5>\n<p>Hot Chili&#8217;s Costa Fuego is valued at a fraction of Filo&#8217;s project even while on schedule to be one of only three large copper projects to begin producing between 2024 and 2029. Years ahead of Filo.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-29916\" src=\"https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/07\/Time-to-Production-Filo-vs-Costa-Fuego-May-2024.png\" alt=\"\" width=\"904\" height=\"572\" srcset=\"https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/07\/Time-to-Production-Filo-vs-Costa-Fuego-May-2024.png 904w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/07\/Time-to-Production-Filo-vs-Costa-Fuego-May-2024-300x190.png 300w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/07\/Time-to-Production-Filo-vs-Costa-Fuego-May-2024-768x486.png 768w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/07\/Time-to-Production-Filo-vs-Costa-Fuego-May-2024-696x440.png 696w\" sizes=\"auto, (max-width: 904px) 100vw, 904px\" \/><\/p>\n<div class=\"su-note\"  style=\"border-color:#dadabb;border-radius:3px;-moz-border-radius:3px;-webkit-border-radius:3px;\"><div class=\"su-note-inner su-u-clearfix su-u-trim\" style=\"background-color:#f4f4d5;border-color:#ffffff;color:#333333;border-radius:3px;-moz-border-radius:3px;-webkit-border-radius:3px;\">If we assume Filo&#8217;s project will likely be built with strong backing from mining giant BHP, the market is pricing in only a 3% chance Hot Chili&#8217;s Costa Fuego copper project ever sees an ounce of production. This is even though Hot Chili has US$20 million in the bank to fund a preliminary feasibility study in the next 3 months and continues to expand the project scope and resources.\u00a0<\/div><\/div>\n<h4>Hot Chili Trades for 3% of Filo&#8217;s Acquisition Price<\/h4>\n<figure id=\"attachment_29894\" aria-describedby=\"caption-attachment-29894\" style=\"width: 2110px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-29894\" src=\"https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/07\/Valuation-Filo-vs-Costa-Fuego.png\" alt=\"\" width=\"2110\" height=\"941\" srcset=\"https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/07\/Valuation-Filo-vs-Costa-Fuego.png 2110w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/07\/Valuation-Filo-vs-Costa-Fuego-300x134.png 300w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/07\/Valuation-Filo-vs-Costa-Fuego-1024x457.png 1024w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/07\/Valuation-Filo-vs-Costa-Fuego-768x343.png 768w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/07\/Valuation-Filo-vs-Costa-Fuego-1536x685.png 1536w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/07\/Valuation-Filo-vs-Costa-Fuego-2048x913.png 2048w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/07\/Valuation-Filo-vs-Costa-Fuego-696x310.png 696w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/07\/Valuation-Filo-vs-Costa-Fuego-1392x621.png 1392w\" sizes=\"auto, (max-width: 2110px) 100vw, 2110px\" \/><figcaption id=\"caption-attachment-29894\" class=\"wp-caption-text\">Source: Hot Chili Investor Presentation<\/figcaption><\/figure>\n<p>Hot Chili is one of the best positioned copper juniors in the world. Costa Fuego has copper grades in line with other projects moving forward, attractive economics, even excluding additional exploration success, and unique water access that will both generate non-copper revenue and make Hot Chili a low cost producer in the region.<\/p>\n<p>A preliminary feasibility study (PFS) and bankable feasibility study (BFS) will be out within 3 and 21 months respectively on top of exploration drilling that could really move the needle. Hot Chili is in the sweet spot to see a rerating of its 70% NPV discount to peers regardless of what happens with copper prices now hovering near $4.00\/lb.<\/p>\n<p>Hot Chili is likely already on the radar of many producers in Argentina and is only one resource upgrade or feasibility study away from a takeout offer it may not be able to refuse.<\/p>\n<h4>A Deep Discount to NPV<\/h4>\n<figure id=\"attachment_29917\" aria-describedby=\"caption-attachment-29917\" style=\"width: 1966px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-29917\" src=\"https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/07\/scene08.png\" alt=\"\" width=\"1966\" height=\"1069\" srcset=\"https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/07\/scene08.png 1966w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/07\/scene08-300x163.png 300w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/07\/scene08-1024x557.png 1024w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/07\/scene08-768x418.png 768w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/07\/scene08-1536x835.png 1536w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/07\/scene08-696x378.png 696w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/07\/scene08-1392x757.png 1392w\" sizes=\"auto, (max-width: 1966px) 100vw, 1966px\" \/><figcaption id=\"caption-attachment-29917\" class=\"wp-caption-text\">Source: Street Estimates, Hot Chili, Bloomberg<\/figcaption><\/figure>\n<h3><strong>Q2 Quarterly Milestones<\/strong><\/h3>\n<ul>\n<li>Hot Chili Secures A$31.9 Million Funding to Accelerate Costa Fuego Copper Hub<\/li>\n<li>Funding facilitates completion of:<\/li>\n<\/ul>\n<ol>\n<li>\u00a0Costa Fuego Pre-Feasibility Study,<\/li>\n<li>Completion of the Water Supply Business Case Study,<\/li>\n<li>Completion of the Costa Fuego Environmental Impact Assessment<\/li>\n<li>Commencement of a bankable feasibility study<\/li>\n<li>Further exploration activities over the next 18 months<\/li>\n<\/ol>\n<h4>Costa Fuego Has Industry Leading Cost Structure<\/h4>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-29762\" src=\"https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/07\/HCH-Costa-Fuego-Project-Pic-July-30-2024.png\" alt=\"\" width=\"1222\" height=\"523\" srcset=\"https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/07\/HCH-Costa-Fuego-Project-Pic-July-30-2024.png 1222w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/07\/HCH-Costa-Fuego-Project-Pic-July-30-2024-300x128.png 300w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/07\/HCH-Costa-Fuego-Project-Pic-July-30-2024-1024x438.png 1024w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/07\/HCH-Costa-Fuego-Project-Pic-July-30-2024-768x329.png 768w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/07\/HCH-Costa-Fuego-Project-Pic-July-30-2024-696x298.png 696w\" sizes=\"auto, (max-width: 1222px) 100vw, 1222px\" \/><\/p>\n<h3><strong>Hot Chili Creates New Water Company \u2013 Huasco Water<\/strong><\/h3>\n<p>\u2022 Hot Chili and its partner, Chilean iron ore company Compania Minera del Pacifico (CMP), have established a new water company called \u201cHW Aguas para El Huasco SpA\u201d (Huasco Water)<br \/>\n\u2022 Hot Chili holds an 80% interest in Huasco Water and CMP holds a 20% interest<br \/>\n\u2022 Transfer of all critical water assets (maritime water extraction licence, water easements, costal land accesses and second maritime application) to Huasco Water has commenced<br \/>\n\u2022 Business Case Study underway for a potential multi-user water business, supplying sea water and desalinated water to the Huasco Valley region of Chile, where Huasco Water has a first-mover advantage<br \/>\n\u2022 Hot Chili set to be a foundation water off-taker for Huasco Water, and discussions with other potential water off-takers and potential infrastructure partners are progressing well<\/p>\n<h4><strong>Location of a conceptual multi-user, desalination water network in relation to infrastructure and potential customers in the Huasco valley region of the southern Atacama, Chile<\/strong><\/h4>\n<figure id=\"attachment_29757\" aria-describedby=\"caption-attachment-29757\" style=\"width: 988px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-29757 size-full\" src=\"https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/07\/HCH-Fig.-1-Water-July30-2024.png\" alt=\"\" width=\"988\" height=\"541\" srcset=\"https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/07\/HCH-Fig.-1-Water-July30-2024.png 988w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/07\/HCH-Fig.-1-Water-July30-2024-300x164.png 300w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/07\/HCH-Fig.-1-Water-July30-2024-768x421.png 768w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/07\/HCH-Fig.-1-Water-July30-2024-696x381.png 696w\" sizes=\"auto, (max-width: 988px) 100vw, 988px\" \/><figcaption id=\"caption-attachment-29757\" class=\"wp-caption-text\">Source: (CNW Group\/Hot Chili Limited)<\/figcaption><\/figure>\n<h4>Existing water assets, in relation to potential future water off-takers<\/h4>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-29899\" src=\"https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/07\/2024-08-18-22-21-41.png\" alt=\"\" width=\"1243\" height=\"822\" srcset=\"https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/07\/2024-08-18-22-21-41.png 1243w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/07\/2024-08-18-22-21-41-300x198.png 300w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/07\/2024-08-18-22-21-41-1024x677.png 1024w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/07\/2024-08-18-22-21-41-768x508.png 768w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/07\/2024-08-18-22-21-41-696x460.png 696w\" sizes=\"auto, (max-width: 1243px) 100vw, 1243px\" \/><\/p>\n<h3><strong>Costa Fuego Pre-Feasibility Study On-Track<\/strong><\/h3>\n<p>\u2022 Advancement of multiple development study workstreams, including drilling operations in support of metallurgical and hydrogeological studies<br \/>\n\u2022 Pre-Feasibility Study (PFS) for Costa Fuego copper-gold project planned for completion in late 2024<br \/>\nExploration Activities Underway in Advance of Growth Drilling<br \/>\n\u2022 Deep penetrating, high resolution MIMDAS and Ground Magnetics geophysical surveys completed at Productora and Cortadera<br \/>\n\u2022 Ground Magnetics geophysical survey, surface soil sampling and geological mapping underway across the recently consolidated Domeyko landholding (Domeyko), located 30km south of Costa Fuego<\/p>\n<h4><strong>Table 1 &#8211; Drill Holes Completed for Costa Fuego in Quarter 2 2024<\/strong><\/h4>\n<figure id=\"attachment_29760\" aria-describedby=\"caption-attachment-29760\" style=\"width: 1147px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-29760\" src=\"https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/07\/Table1-Costa-Fuego-July30-2024.png\" alt=\"\" width=\"1147\" height=\"376\" srcset=\"https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/07\/Table1-Costa-Fuego-July30-2024.png 1147w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/07\/Table1-Costa-Fuego-July30-2024-300x98.png 300w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/07\/Table1-Costa-Fuego-July30-2024-1024x336.png 1024w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/07\/Table1-Costa-Fuego-July30-2024-768x252.png 768w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/07\/Table1-Costa-Fuego-July30-2024-696x228.png 696w\" sizes=\"auto, (max-width: 1147px) 100vw, 1147px\" \/><figcaption id=\"caption-attachment-29760\" class=\"wp-caption-text\">Note: No significant drill results have been returned in Q2 2024, all metallurgical holes completed within the Productora<br \/>Mineral Resource and within close proximity (twinned holes) to existing drill holes previously reported.<\/figcaption><\/figure>\n<h3><strong>Exploration Activities Underway in Advance of Growth Drilling<\/strong><\/h3>\n<p>\u2022 Deep penetrating, high resolution MIMDAS and Ground Magnetics geophysical surveys completed at Productora and Cortadera<br \/>\n\u2022 Ground Magnetics geophysical survey, surface soil sampling and geological mapping underway across the recently consolidated Domeyko landholding (Domeyko), located 30km south of Costa Fuego<\/p>\n<h4><strong>Location of the Domeyko landholding in relation to initial exploration targets<\/strong><\/h4>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-29761 size-full\" src=\"https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/07\/HCH-Fig.-2-Location-of-Domeyko-July30-2024.png\" alt=\"\" width=\"745\" height=\"876\" srcset=\"https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/07\/HCH-Fig.-2-Location-of-Domeyko-July30-2024.png 745w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/07\/HCH-Fig.-2-Location-of-Domeyko-July30-2024-255x300.png 255w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/07\/HCH-Fig.-2-Location-of-Domeyko-July30-2024-696x818.png 696w\" sizes=\"auto, (max-width: 745px) 100vw, 745px\" \/><\/p>\n<h3><strong>Geophysical Surveys Completed at Productora and Cortadera<\/strong><\/h3>\n<p>Twenty-nine Line-kilometres (Lkm) of MIMDAS1 was completed from May to June across the Productora (12Lkm) and Cortadera (17Lkm) projects. This deep penetrating electrical geophysical technique detects the chargeability, resistivity, and conductivity properties of underlying rocks. The results of the surveys are currently under review, in combination with geological mapping, drillhole logging and existing geochemical datasets.<\/p>\n<p>3D inversion of the MIMDAS lines will also be completed, at Productora and Cortadera.<br \/>\nThe new geophysical datasets will provide additional resolution for assessing several high priority growth targets located proximal to both of Hot Chili&#8217;s bulk tonnage copper-gold resources.<\/p>\n<h4>Aerial photo of Productora indicating the location of completed seismic survey and collars of hydrological drillholes relative to the planned mine infrastructure. Location of metallurgical drillholes completed in Q2 are displayed as blue traces<\/h4>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-29898\" src=\"https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/07\/2024-08-18-22-18-46.png\" alt=\"\" width=\"948\" height=\"1149\" srcset=\"https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/07\/2024-08-18-22-18-46.png 948w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/07\/2024-08-18-22-18-46-248x300.png 248w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/07\/2024-08-18-22-18-46-845x1024.png 845w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/07\/2024-08-18-22-18-46-768x931.png 768w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/07\/2024-08-18-22-18-46-696x844.png 696w\" sizes=\"auto, (max-width: 948px) 100vw, 948px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Copper M&#038;A is now on the table and there is one junior in particular that checks all the boxes as the next target.<\/p>\n","protected":false},"author":30,"featured_media":27484,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2430,56],"tags":[2383,104,2347,1520,2323,2382,2141,2461,1467,2374,2353],"class_list":{"0":"post-29752","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-energy-transition-metals","8":"category-featured","9":"tag-asx-hch","10":"tag-gold","11":"tag-gold-investing","12":"tag-gold-juniors","13":"tag-hot-chili","14":"tag-hot-chili-ltd","15":"tag-investing-in-gold","16":"tag-investing-in-gold-miners","17":"tag-junior-gold-miners","18":"tag-otcqx-hhlkf","19":"tag-tsxv-hch"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Looking for the Next Copper Takeout Target: Hot Chili&#039;s 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