The S&P/ASX All Ordinaries Index (ASX: XAO) has gained 3.3% over the past year, but this ASX All Ords copper stock has left those gains wanting.
The fast-rising copper miner in question is Hot Chili Ltd (ASX: HCH).
In morning trade today, the All Ordinaries is down 0.6% while Hot Chili shares are down 0.5%, changing hands for $1.96 apiece.
Despite the modest retrace today, shares in the ASX All Ords copper stock are up 237.9% over the last 12 months. That's enough to turn a $10,000 investment into $33,793.
In one year.
Indeed, it was this rapid share price and resulting market cap gain that saw Hot Chili added to the All Ordinaries on March 23. That came as part of the S&P Dow Jones Indices March 2026 quarterly rebalance.
Hot Chili has been a clear beneficiary of rocketing global copper prices. Trading for US$13,745 per tonne today, the copper price is up more than 42% in a year.
But the miner has hardly been sitting idle over this time.
Here's what Hot Chili just reported this morning.
Image source: Getty Images
ASX All Ords copper stock hits new high-grade intercepts
The Hot Chili share price is slipping despite the miner announcing promising drilling results from its La Verde copper-gold porphyry discovery, in Chile.
La Verde is located just 30 kilometres from the miner's Costa Fuego planned central processing hub.
The ASX All Ords copper stock reported on a single drill hole, noting that the assay results are pending for 22 drill holes, comprised of six diamond and 16 reverse circulation (RC) holes.
Management expects these to confirm "significant extensions" to La Verde's high-grade core, and the company has engaged a second ISO-accredited laboratory to help speed up the assay result turnaround times.
As for the latest diamond drill hole results, management said it returned grades "well above visual expectation … adding to La Verde's rise as one of Chile's most significant new coastal copper-gold (Cu-Au) porphyry discoveries".
The hole was reported to have recorded 391.1 metres grading 0.51% copper equivalent (CuEq), comprised of 0.42% Copper and 0.11 grams of gold per tonne, from the surface.
This included 17.8 metres grading 0.68% CuEq (0.63% Cu, 0.06 g/t Au) from the surface, and 40.7 metres grading 0.60% CuEq (0.50% Cu, 0.12 g/t Au) from 103.3 metres.
What's next for Hot Chili shares?
Looking at what could impact Hot Chili shares in the months ahead, the ASX All Ords copper stock has three drill rigs operating at La Verde.
The miner is aiming to deliver a maiden Mineral Resource for La Verde and a revised Pre-feasibility for its Costa Fuego copper-gold project.
