Hot Chili shares on fire
Chili on fire
Hot Chili boss Christian Easterday set Diggers alight yesterday with news his company had struck a deal to sell part of its Productora copper project in Chile to local iron ore giant Compania Minera del Pacifico.
CMP will take 17.5 per cent of Productora in return for allowing Hot Chili to clean up the convoluted ownership structure of the project's tenements.
Hot Chili, which will also be fully funded by CMP to the completion of a pre-DFS next year, says yesterday's deal is a ground-breaker and a big step towards Productora's development.
Investors marked Hot Chili up 40 per cent to 28c, also reflecting news CMP had an option to take its Productora stake to 50.1 per cent by paying Hot Chili $US80 million.
Confused rozzers
Constable Plod has been out in force at Diggers though this year officers avoided a crackdown on delegates jaywalking, nor did they set up a booze bus in front of the conference marquee.
But the liquor and gaming squad was busy, making sure no drinkers in the marquee were under age (at Diggers?) and that the Palace Hotel wasn't too packed.
The squad even made a surprise appearance at the WA School of Mines, where the Graduates Association was hosting a knees-up.
Dissatisfied they couldn't spot a special function licence, the plods threatened to shut the event down, in the process reducing the sole bar tender to tears, only to discover they had erred.
The WASM social club had a general function licence and so was entitled to hold its knees-up, which resumed after 30 minutes.
Canadians love Gold Road
Gold Road Resources got delegates talking after Ian Murray's explorer on Monday released a maiden resource for its Gruyere prospect.
At 3.8 million ounces it is big, though the average grade (1.23 grams per tonne) and the 0.7gpt cut-off used alongside a $1550/oz price for the pit optimisation made clear there is work to do.
But it has won support from new shareholder, Toronto-listed Minco Gold, which is thought to have increased its stake.
