Hot Chili (ASX: HCH) is in pre-open this morning following the ASX granting the company a trading halt, pending details of a capital raising.
Earlier in the week the company's drilling at the Productora Copper Project in Chile returned further wide copper results including 102 metres at 1% copper and 0.2 grams per tonne gold.
This comes as the company prepares to deliver a Resource update in the late second half of 2013 from growth of in-pit, high-grade resources.
Importantly, this result lies within a newly discovered zone along the eastern flank of the planned central pit development at Productora - an area previously treated as waste in the Productora scoping study.
It also extends the newly discovered high-grade zone to over 80 metres in strike length.
The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Monday 8th July 2013.
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