Hot Chili (ASX:HCH) has closed the placing of 24.2 million shares at AU$1.65 to raise AU$40 million, according to a Friday filing with the Australian bourse.
The company intends to use the proceeds to advance the scale and economics of its Costa Fuego Copper-Gold Project in Chile, as per the filing.
Shares fell 8% in recent trading.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.