Hot Chili Submits Second Maritime Application and Prepares to Create New Water Company
Importantly,
In addition, the Company is also preparing to transfer its water assets (maritime concession, costal land accesses and water pipeline easements etc) into a new stand-alone water company controlled by
These next steps follow positive initial engagement with several potential desalinated water customers in the Huasco valley area as well as several suitable water infrastructure partners. The Company is pleased to be positioning its water assets to potentially generate significant value for
While
A Water Supply Business Case Study is underway, and the Company has been engaging with potential desalination water customers, potential infrastructure partners and Chilean government regulators since announcement of the outcomes of the Water Supply Concept Study.
The second maritime concession application is a key next step to developing a potential desalinated water business to supply community, agricultural and new mining demand of up to 3,700 litres per second (l/s) over the long-term in the
Leveraging
"Water scarcity is THE critical issue for new mine developments in the Atacama on both the Chilean and Argentinean side of the Andes.
Socially and environmentally, multiclient and multipurpose water infrastructure is the new reality".
The Company looks forward to providing further updates on its Costa Fuego copper-gold project and its Water Business Case Study for the Huasco valley of
This announcement is authorised by the Board of Directors for release to ASX and TSXV.
Qualifying Statements
Disclaimer
Neither the
Qualified Person
The technical information in this news release has been reviewed and approved by Mr.
All amounts in this news release are in
Forward Looking Statements
This news release contains certain statements that are "forward-looking information" within the meaning of Canadian securities legislation and Australian securities legislation (each, a "forward-looking statement"). All statements other than statements of historical fact are forward-looking statements. The use of any of the words "believe", "could", "estimate", "may", "plan", "potential", "projections", "will", variants of these words, and similar expressions are intended to identify forward-looking statements. The forward-looking statements within this news release are based on information currently available and what management believes are reasonable assumptions. Forward-looking statements speak only as of the date of this news release.
In this news release, forward-looking statements relate, among other things, to: the completion, timing, cost and results of a Water Supply Business Case Study; the execution of water off-take agreements including the approval of the TSXV (if required) and any other regulatory approvals; prospects, projections and success of the Company and its projects; the Company's ability to secure a suitable water infrastructure partner and required funding; the timing and outcomes of future planned economic studies; the timing and outcomes of regulatory processes required to obtain permits for the development and operation of a multi-user desalination water business as contemplated in the Water Supply Concept Study; whether or not the Company will make a finance and development decision and the timing thereof.
Forward-looking statements involve known and unknown risks, uncertainties, and other factors, which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. A number of factors could cause actual results to differ materially from a conclusion, forecast or projection contained in the forward-looking statements in this news release, including, but not limited to, the following material factors: the ability of the Company to complete the Water Supply Business Case Study, securing water off-take customers; obtaining all required regulatory approvals to develop a regional water network; operational risks; risks related to the cost estimates of exploration; sovereign risks associated with the Company's operations in
Although the forward-looking statements contained in this news release are based upon assumptions which the Company believes to be reasonable, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. With respect to forward-looking statements contained in this news release, the Company has made assumptions regarding: future commodity prices and demand; availability of skilled labour; timing and amount of capital expenditures; future currency exchange and interest rates; the impact of increasing competition; general conditions in economic and financial markets; availability of drilling and related equipment; effects of regulation by governmental agencies; future tax rates; future operating costs; availability of future sources of funding; ability to obtain financing; and assumptions underlying estimates related to adjusted funds from operations. The Company's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits the Company will derive therefrom.
For additional information with respect to these and other factors and assumptions underlying the forward-looking statements made herein, please refer to the public disclosure record of the Company, including the Company's most recent Annual Report, which is available on SEDAR+ (www.sedarplus.ca) under the Company's issuer profile. New factors emerge from time to time, and it is not possible for management to predict all those factors or to assess in advance the impact of each such factor on the Company's business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statement.
The forward-looking statements contained in this news release are expressly qualified by the foregoing cautionary statements and are made as of the date of this news release. Except as may be required by applicable securities laws, the Company does not undertake any obligation to publicly update or revise any forward-looking statement to reflect events or circumstances after the date of this news release or to reflect the occurrence of unanticipated events, whether as a result of new information, future events or results, or otherwise.
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