Four ASX shares that have failed to follow the market higher today are named below. Here's why they are falling:

Hot Chili Ltd (ASX: HCH)

The Hot Chili share price is down 3.5% to $1.87. This follows news that the gold developer has raised $40 million at a discount of $1.65 per new share. The company notes that upon completion of the capital raise, it will be well funded in 2026 to deliver strong growth and development milestones for the Costa Fuego copper-gold project, which is located in the coastal range of Chile. Hot Chili's managing director, Christian Easterday, said: "We are delighted by the overwhelming support received from new and existing institutional investors, as well as our top three major shareholders, in the Placement. The strong participation from these groups highlights the confidence in our strategy to continue driving Hot Chili's re-rate into a rising copper market."

Jumbo Interactive Ltd (ASX: JIN)

The Jumbo share price is down 6% to $9.91. Investors have been selling this online lottery ticket seller's shares despite it delivering a strong half-year update this morning. The company revealed that revenue is expected to rise 29% to $85.3 million in the first half, after total transaction value (TTV) increased 15.7% to $524.7 million. Underlying EBITDA is expected to be $37.5 million for the first half. This will be up 22.6% from $30.6 million in the prior corresponding period. This strong performance was achieved despite the broader lottery environment being relatively weak.

PYC Therapeutics Ltd (ASX: PYC)

The PYC Therapeutics share price is down 6% to $1.50. This has been driven by the completion of an institutional placement. The precision medicine company has attracted strong support from new investors and existing institutional shareholders. This saw PYC receive commitments for a total of $537 million at an offer price of $1.50 per new share. The financing has extended its cash runway through to 2030. This will allow PYC to deliver important human safety and efficacy data for all four of its drug development programs.

Xero Ltd (ASX: XRO)

The Xero share price is down 13% to $83.05. Investors have been selling this cloud accounting platform provider's shares following a brutal selloff in the tech sector on Wednesday amid AI disruption concerns. This has seen the S&P/ASX All Technology Index sink over 6% this afternoon. Not even a number of bullish broker notes have been able to stop Xero shares from crashing. One of those was from Macquarie Group Ltd (ASX: MQG), which has retained its outperform rating with an improved price target of $233.80.

The post Why Hot Chili, Jumbo, PYC, and Xero shares are sinking today appeared first on The Motley Fool Australia.

The halt was requested earlier today and will remain in place pending further details from the company.

Before entering the halt, Hot Chili shares last traded at $1.94. The stock is now up almost 40% so far in 2026, after a strong rally through January.

Here is what investors need to know.

A sizeable placement at a discount

According to today's announcement, Hot Chili plans to raise up to $40 million by issuing approximately 24.3 million new shares to institutional and professional investors.

The shares will be issued at $1.65 apiece, representing a 15% discount to the company's last closing price and a 13.6% discount to the 5-day volume weighted average price (VWAP).

The placement is being conducted under the company's existing 25% placement capacity, meaning no shareholder approval is required.

Settlement is expected later this month, with new shares ranking equally with existing shares on issue.

Why Hot Chili is raising now

Management says the funds will be used to aggressively advance development at the Costa Fuego copper-gold project in northern Chile.

That includes accelerating work at the La Verde copper-gold discovery. It will also fund studies toward a maiden mineral resource and advance permitting and environmental approvals across the broader Costa Fuego hub.

Hot Chili also flagged funding for feasibility work, ongoing exploration, strategic studies, and general working capital.

Costa Fuego remains one of the few large-scale copper projects globally that is not controlled by a major mining company. At the same time, large producers are increasingly focused on securing long-term copper supply.

Trading halt and what happens next

Hot Chili's shares will remain suspended until the company announces the outcome of the placement, which is expected before market open on Wednesday.

That update should confirm the final amount raised, demand levels, and whether the placement was upsized.

Given the stock's strong recent momentum, investors will be watching closely to see how the market reacts once trading resumes.

The bigger picture

Hot Chili has delivered one of the ASX's stronger copper performances, with the share price climbing more than 180% over 12 months.

While capital raisings can pressure share prices in the short-term, they can also strengthen the balance sheet and de-risk future development.

With additional capital on the way, attention turns to delivery and whether progress at Costa Fuego can justify the recent re-rating.

The post Why this ASX copper stock suddenly halted trading this morning appeared first on The Motley Fool Australia.

ASX mining shares dominate the list of companies hitting these new price milestones today.

Arguably, the most significant price peak today is for BHP Group Ltd (ASX: BHP) shares.

BHP reclaimed its place as the All Ords' largest share by market capitalisation from Commonwealth Bank of Australia (ASX: CBA) today.

CBA took the title from BHP in July 2024 during an unprecedented run that took it to a record $192 per share in June 2025.

The CBA share price is $150.35 on Tuesday, up 0.85%, while BHP shares are $49.66, up 2.54%, at the time of writing.

The BHP share price hit a two-year high of $50.08 this morning.

But today isn't all about BHP shares.

Plenty of other ASX All Ords shares have smashed new multi-year highs as well.

Here's a sample.

ASX All Ords shares reaching new price highs

As stated earlier, mining shares dominate the list of company highs today, so let's focus on them first.

Besides BHP, two other large-cap ASX diversified miners hit new 52-week share price highs.

The Mineral Resources Ltd (ASX: MIN) share price rose 2.8% to a 52-week high of $64.05.

South32 Ltd (ASX: S32) shares hit a 52-week high of $4.54 per share, up 3.4%.

Among the ASX All Ords gold shares, Newmont Corporation CDI (ASX: NEM) lifted 1.9% to a record high of $181.91.

The Resolute Mining Ltd (ASX: RSG) share price soared 10.3% to a 52-week peak of $1.50.

Ramelius Resources Ltd (ASX: RMS) shares surged 3.5% to a record $5.09.

Regis Resources Ltd (ASX: RRL) shares increased 2.8% to a multi-year high of $8.58.

Copper and gold miner Firefly Metals Ltd (ASX: FFM) lifted 5.8% to a 52-week high of $2.20 per share.

Among ASX silver shares, Silver Mines Ltd (ASX: SVL) rose 12.5% to a 52-week high of 27 cents.

Canaccord Genuity sees more growth ahead for Sun Silver Ltd (ASX: SS1) shares, which rose 6.5% to a record $2.47 apiece today.

ASX All Ords lithium shares also hit new price peaks.

Shares in lithium and nickel producer IGO Ltd (ASX: IGO) increased 2% to a two-year high of $9.50.

The Winsome Resources Ltd (ASX: WR1) share price lifted 11.7% to an 18-month high of 67 cents.

Hot Chili Ltd (ASX: HCH) shares soared 9.2% to a 52-week high of $1.89.

Among ASX All Ords copper shares, Capstone Copper Corp CDI (ASX: CSC) soared 8.8% to a record $16.27 per share.

The Develop Global Ltd (ASX: DVP) share price rose 5.8% to a four-year high of $5.67.

What about ASX All Ords shares from other sectors?

ASX All Ords retail stock Nick Scali Limited (ASX: NCK) ascended 1.9% to a record $26.08 per share.

Engineering services company Monadelphous Group Ltd (ASX: MND) lifted 3.6% to a record $30.98.

Testing and inspection services provider ALS Ltd (ASX: ALQ) rose 1.4% to a record $24.41.

The post ASX All Ords shares smashing 52-week highs today appeared first on The Motley Fool Australia.

Materials and energy shares are leading the ASX as the world continues the assess the implications of the US military raid on Venezuela.

Over the weekend, US forces attacked the country, which has the world's biggest oil reserves.

Soldiers captured President Nicolás Maduro and his wife, who were then flown to New York to face narco-terrorism charges.

The Dow Jones Industrial Average Index (DJX: .DJI) ripped almost 600 points overnight to close at a new record high of 49,209.95 points.

Meanwhile, on the ASX today, materials shares are leading with a 1.6% gain as investors buy more gold, silver, copper, and lithium stocks.

ASX energy shares are up 0.5% as investors ponder the potential rebuilding of Venezuela's oil infrastructure and boosted production.

Today, the Brent Crude oil price is down 0.2% to US$61.63 per barrel, while gold is up 0.4% to US$4,465 per ounce.

The silver price is up 1.26% to US$78.75 per ounce, and copper reached a new record of US$6 per pound, up 1.3%.

Here is a selection of ASX mining shares hitting new one-year high prices today.

ASX mining shares reaching new price milestones

Several major diversified miners hit new 52-week peaks today.

The BHP Group Ltd (ASX: BHP) share price rose 1.9% to a 52-week high of $47.37.

The Rio Tinto Ltd (ASX: RIO) share price increased 2.5% to a 52-week high of $153.26.

South32 Ltd (ASX: S32) shares rose 4.1% to a 52-week peak of $3.81.

The Mineral Resources Ltd (ASX: MIN) share price rose 2.3% to a 52-week high of $57.10.

Several ASX gold shares and silver shares also ascended to new highs today.

The Vault Minerals Ltd (ASX: VAU) share price increased 2.7% to a 52-week high of $5.76.

Bauxite and alumina producer Alcoa Corporation CDI (ASX: AAI) lifted 8.2% to a 52-week high of $91.50 per share.

Bellevue Gold Ltd (ASX: BGL) shares lifted 4% to a 52-week high of $1.80.

The Regis Resources Ltd (ASX: RRL) share price lifted 2.6% to a 52-week high of $7.84.

Silver Mines Ltd (ASX: SVL) shares rose 4.3% to a 52-week high of 24 cents.

ASX lithium shares also hit new price thresholds.

The PLS Group Ltd (ASX: PLS) share price rose 6.3% to a 52-week high of $4.70.

Shares in lithium and nickel producer IGO Ltd (ASX: IGO) increased 4.1% to a 52-week high of $8.65.

Core Lithium Ltd (ASX: CXO) shares rose 3.4% to a 52-week peak of 30 cents per share.

ASX copper shares were also in the mix after the red metal hit a record US$6 per pound.

Stock in the market's largest pure-play copper miner, Sandfire Resources Ltd (ASX: SFR), rose 5.3% to a 52-week high of $19.43.

The Liontown Ltd (ASX: LTR) share price lifted 10.7% to a 52-week high of $1.87.

Capstone Copper Corp CDI (ASX: CSC) shares lifted 4.8% to a 52-week high of $15.85.

Hot Chili Ltd (ASX: HCH) shares rose 13.3% to a 52-week high of $1.70.

The post Scores of ASX mining shares hit 52-week highs appeared first on The Motley Fool Australia.

The BHP Group Ltd (ASX: BHP) share price rose 2.1% to a 52-week high of $45.49 per share.

The Fortescue Ltd (ASX: FMG) share price lifted 3.2% to a 52-week peak of $23.38.

The Rio Tinto Ltd (ASX: RIO) share price increased 2.6% to a 52-week high of $141.13.

Several ASX gold shares also ascended to new highs.

The Evolution Mining Ltd (ASX: EVN) share price rose 4% to an all-time high of $12.63 per share.

Emerald Resources NL (ASX: EMR) shares reached a record $5.71, up 2.9%.

Bellevue Gold Ltd (ASX: BGL) shares lifted 4.3% to a 52-week high of $1.47.

ASX silver share Andean Silver (ASX: ASL) lifted 6.8% to an all-time peak of $2.34.

Some ASX lithium shares also recorded new one-year highs today.

They included Elvira Lithium (ASX: ELV) shares, up 2.9% to $6.67, and Lake Resources NL (ASX: LKE), up 19% to 9.4 cents.

ASX copper share Hot Chili Ltd (ASX: HCH) rose 7.8% to a 52-week high of $1.25.

The S&P/ASX All Ordinaries Index (ASX: XAO) closed 0.1% higher at 8,877.5 points on Thursday.

What's pushing ASX mining shares higher?

Stronger commodity prices are contributing to a surge in mining stocks this month.

Here is a snapshot of the strongest performers.

Macquarie's take on ASX mining shares

Earlier this week, Macquarie released a note on commodities and named its preferred ASX mining shares.

Among the diversified major miners, the broker likes Rio Tinto over BHP, but prefers South32 Ltd (ASX: S32) overall.

The broker has an outperform rating on South32 shares with a 12-month price target of $3.70.

Macquarie has a neutral rating on Rio Tinto and BHP shares with price targets of $130 and $43, respectively.

The broker has an underperform rating on Fortescue shares with a price target of $19.50.

Among the gold miners, Macquarie prefers Newmont Corporation CDI (ASX: NEM) over Northern Star Resources Ltd (ASX: NST).

However, the broker has an outperform rating on both ASX gold shares with price targets of $175 and $34, respectively.

Among ASX lithium shares, the broker prefers lithium and nickel producer IGO Ltd (ASX: IGO).

The broker has an outperform rating on IGO shares with a 12-month price target of $7.50.

It also has an outperform rating on Elvira Lithium with a price target of $7.

The broker is neutral on the largest ASX lithium share, PLS Group Ltd (ASX: PLS), with a price target of $3.80.

Capstone Copper Corp CDI (ASX: CSC) is the broker's preferred ASX copper share.

Macquarie has an outperform rating on Capstone Copper with a share price target of $17.

The post ASX mining shares dominate stocks hitting 52-week highs appeared first on The Motley Fool Australia.

And according to some analysts, this rally could have plenty of room to grow.

For instance, US investment firm JPMorgan Chase & Co (NYSE: JPM) believes that a widening global supply deficit could see copper rise to US$12,000 per tonne by the first quarter of 2026.

And a sustained upswing in the copper price may be good news for leading ASX 200 mining stocks with substantial exposure to the red metal.

These include diversified mining powerhouse BHP Group Ltd (ASX: BHP) which has transformed into the world's biggest copper producer in the past few years.

Other copper-focused ASX 200 mining stocks such as Sandfire Resources Ltd (ASX: SFR) and Capstone Copper Corp CDI (ASX: CDC) could also benefit.

However, beyond the heavyweights, the ASX is home to several emerging copper companies already mining or moving their respective projects towards production.

Below, we present an overview of three lesser-known ASX copper stocks with surging share prices.

29Metals Ltd (ASX: 29M)

29Metals operates the Golden Grove copper mine in Western Australia, which also produces significant amounts of zinc, gold, and silver.

Overall, the company is targeting up to 25,000 tonnes of copper output from Golden Grove in the 2025 calendar year. 

In addition, it plans to bring its Capricorn copper mine in Queensland back to production after extreme rainfall suspended operations in 2023.

Combined, the two projects hold about 2.2 million tonnes of contained copper, 2.3 million tonnes of zinc, 1.2 million ounces of gold, and 75 million ounces of silver.

Each project has a resource base large enough to support a mining operation of more than 10 years.

The company is also ramping up exploration drilling as it looks to grow the existing resource at Golden Grove.

Shares in 29Metals have ballooned by 191% in the past six months, ending Wednesday at $0.47 per share.

Hot Chili Ltd (ASX: HCH)

Hot Chili is a mineral exploration business advancing its Costa Fuego copper and gold project in Chile towards production.

Costa Fuego already hosts a large resource base across three deposits: Cortadera, Productora, and San Antonio.

Here, management believes the 3.4 million tonnes of contained copper equivalent represents one of the largest undeveloped copper mineral resources in the world.

In addition, a recent discovery at the nearby La Verde prospect adds potential for further resource expansion.

Earlier this year, Hot Chili unveiled the results from an economic evaluation gauging the merits of bringing Costa Fuego to production.

This pre-feasibility study (PFS) outlined a 20-year mine, with output of about 116,000 tonnes of copper equivalent per annum across 14 years of primary production.

The study also estimated post-tax free cashflow of US$3.86 billion for the life of the mine, as well as a payback period 4.5 years.

Hot Chili now plans to launch a more detailed definitive feasibility study, whilst also conducting an environmental impact assessment for the project.

Further exploration drilling at La Verde could also be on the cards.

In the past six months, Hot Chili shares have surged by 85% to $0.87 per share at yesterday's close.

Firefly Metals Ltd (ASX: FFM)

Firefly is another exploration company moving its Green Bay copper and gold project in the Canadian province of Newfoundland closer to production.

As things stand, Green Bay holds a resource containing one million tonnes of copper and 550,000 ounces of gold. This equates to 1.2 million tonnes of copper equivalent.

However, the company's strategy is centred on growing this resource even further.

At present, eight drill rigs are operating at Green Bay as Firefly looks to upgrade the resource, extend known mineralisation, and unearth new discoveries.

Notably, recent drilling delivered high-grade copper and gold hits which extended the known mineralisation by 650 metres beyond the current resource.

In addition, further "exceptional" drilling results defined an 800-metre zone of "very high-grade" mineralisation which remains open along strike.

Management noted that this zone could significantly impact a mineral resource estimate for the project, planned for release in the current quarter.

FireFly shares have now increased by 102% in just six months, reaching $1.82 per share at the close of business on Wednesday.

The post Up 85% or more! These 3 hidden ASX mining stocks are soaring as the copper price ignites appeared first on The Motley Fool Australia.

The International Energy Agency estimates the world will need 700 million tonnes of copper over the next 20 years to achieve the Paris Agreement climate goals.

Copper is a brilliant electricity conductor. Its traditional industrial uses include common electronic appliances, car radiators, telephones, and heating systems.

Its future uses include electric vehicles, wind turbines, and solar energy systems.

Robert Friedland, the founder of global miner Ivanhoe Mines, reckons copper prices could rise tenfold and foresees a copper "train wreck" amid stalling supply and skyrocketing demand.

In a recent Market Matters Q&A, Shaw and Partners portfolio manager James Gerrish said: "We think copper has a better outlook than iron ore."

Wilsons equity strategist Rob Crookston says the "long-term trend towards copper is clear".

Crookston says EVs require about 3x more copper than conventional cars, and solar and offshore wind projects require about 3x to 7x more copper per megawatt of installed capacity than fossil fuels.

Three ASX copper shares riding this wave of optimism

This trio of ASX mineral explorers is hoping to take full advantage of rising copper demand.

Over the past 12 months, they have been among the best performers of the ASX copper shares.

Xanadu Mines Ltd (ASX: XAM) is a mineral explorer with assets in Mongolia. The Xanadu Mines share price is up 375% over the past 12 months. It is currently trading for 9.5 cents.

Encounter Resources Ltd (ASX: ENR) is an explorer with projects in Western Australia. The Encounter Resources share price is up 262.5% over the past 12 months. It is currently 44 cents.

Hot Chili Ltd (ASX: HCH) is developing several copper assets in Chile. The Hot Chili share price is up 113% over the past 12 months. It is currently $1.50.

The big ASX miners are focusing on copper, too

The 30-year-old Escondida mine in Chile is the world's largest producer of copper concentrates and cathodes.

It produces about 1.2 million tonnes of copper a year, which is 5.5% of global production.

It is owned by BHP Group Ltd (ASX: BHP) (57.5%), Rio Tinto Ltd (ASX: RIO) (30%), and the Japanese consortium, JECO Corporation (12.5%).

BHP recently announced it was using artificial intelligence (AI) to improve copper extraction. This is important because there are few opportunities to build new economical mines.

BHP also operates copper mines in Australia, the United States, Peru, and elsewhere in Chile. In May 2023, it completed a $9.6 billion takeover of OZ Minerals Limited.

Oz Minerals had been the largest pure-play copper miner on the ASX.

BHP says global copper production needs to double over the next 30 years relative to the past 30.

Rio Tinto began life as a copper mine in Spain in 1873. As we reported recently, it's going back to the future and expanding its copper mining segment as well.

Rio Tinto's newly-expanded Oyu Tolgoi copper mine in Mongolia began production in March.

The company owns 66% of the mine.

Rio Tinto says Oyu Tolgoi is on track to be the fourth-largest copper mine in the world.

Barton described the energy transition as "a further opportunity for Rio Tinto".

Copper prices

Copper is one of the few commodities likely to rise in value over the next five years.

According to the Federal Government's official forecasts for commodity prices, the copper price will rise from US$8,406 per tonne in FY23 to US$9,954 per tonne by FY28.

It's currently trading at US$8,429 per tonne, up 12.4% from about US$7,500 this time last year.

The copper price hit a record high in March 2022 went it went above US$10,000 per tonne.

The post 3 ASX copper shares that have surged 100% to 400% in a year appeared first on The Motley Fool Australia.

ASX mining shares with exposure to copper include Rio Tinto Limited (ASX: RIO), Oz Minerals Limited (ASX: OZL), Sandfire Resources Ltd (ASX: SFR) and Hot Chili Ltd (ASX: HCH).

Rio shares are leaping 1.4% today, while Sandfire Resources shares are leaping 1.21%. Hot Chili shares are leaping 5.06% and Oz Minerals shares are 0.02% in the green at the time of writing.

So what is the outlook for the copper price?

Copper price tipped to jump higher

The copper price hit US$9,000 a tonne this week on the London Metal Exchange, its highest level since June.

However, a Goldman Sachs commodities analyst is tipping it to reach US$11,500 a tonne by the end of the year and US$15,000 in the long term.

Commenting on Bloomberg TV, Goldman head of commodities research Jeff Currie said:

Our target end of year is US$11,500…but longer term, we are in line with Trafigura, we see US$15,000 a tonne.

You know, there's a structural imbalance in these markets. You are likely to see peak copper supply in 2024.

Oz Minerals operates the Prominent Hill copper and gold mine in South Australia. In December, Oz Minerals advised Prominent Hill ore reserves have lifted 23% to 59 Mt at 1.4% copper equivalent. BHP Group Ltd (ASX: BHP) is proposing to acquire 100% of Oz Minerals, with a scheme meeting expected to take place in late March or early 2023 this year.

Rio Tinto explores copper from multiple projects globally and produced 138,000 tonnes of copper in the third quarter of 2022. This was a 10% lift on the third quarter of 2021. Sandfire is also developing multiple copper projects in the USA, Botswana, Spain and Australia. Hot Chili is developing the Costa Fuego copper hub in Chile.

Why is copper tipped to go higher?

Goldman's Currie highlighted the role of copper in decarbonisation, describing copper as "the new oil". He said:

You cannot decarbonise the world and use electricity to the extent we expect without substantial copper consumption.

Meanwhile, China's reopening is also being slated as a possible reason for investor optimism in the copper sector.

Marex analyst Alastair Munro, also commenting on Bloomberg, highlighted the impact of increased demand from China. He said:

You've got more of these commodity trade adviser and discretionary fund bids on copper. There has been Chinese buying onshore.

Share price snapshot

The Rio Tinto share price has leapt 13% in the last year

Oz Minerals shares have slid nearly 3% in the past 52 weeks.

Sandfire Resources shares have descended nearly 9% in the past year.

Hot Chili stocks have plummeted 45% in the last year.

The post Goldman tips continued surge in copper price. Which ASX mining shares might benefit? appeared first on The Motley Fool Australia.

Copper miners on the ASX include OZ Minerals Limited (ASX: OZL), Sandfire Resources Ltd (ASX: SFR) and Copper Mounting Mining Corporation (ASX: C6C).

Other copper explorers include Chalice Mining Ltd (ASX: CHN), BHP Group Ltd (ASX: BHP) and Hot Chili Ltd (ASX: HCH)

Let's take a look at what's impacting ASX copper shares today.

Improved copper outlook

Morgan Stanley has improved its copper price prediction for the long term, The Australian reported today.

The broker has lifted its long-term copper outlook by 15% to US$7,540, according to the publication. Analysts said:

Our new bottom-up modelling suggests 2030 copper and aluminium demand could be 24 per cent and 26 per cent higher than current levels.

However, with investment in new supply lagging, we see larger deficits ahead, driving stronger medium-term prices.

Sandfire Resources shares are climbing 0.48% today, while BHP shares are lifting 1% and Chalice Mining shares are rising 0.47%.

However, Copper Mounting Mining shares are falling nearly 4%, while Hot Chili shares are down 3%. The OZ Minerals share price is 0.02% in the red at the time of writing.

Copper prices fell nearly 1% to US$7,803 per tonne overnight amid concerns inflation could drive up the US dollar, impacting commodities. WisdomTree analyst Nitesh Shah, in comments cited by mining.com, said:

If the US is raising rates faster than other countries, that will exert upward dollar pressure and all commodities priced in dollars will take a hit

The post What's with ASX copper shares on Thursday? appeared first on The Motley Fool Australia.

Copper explorers in the red today include Sandfire Resources Ltd (ASX: SFR), OZ Minerals Ltd (ASX: OZL) and Austral Resources Australia Ltd (ASX: AR1). Hot Chili Ltd (ASX: HCH) shares and Copper Mountain Mining Corporation (ASX: C6C) are also lower today.

So what is going on with these ASX copper shares?

Copper prices slide

The Sandfire share price has shed 5.42% while Oz Minerals shares have slid 2.58%. Meanwhile, the Austral share price has fallen 7.37%, Hot Chili shares have lost 6.33%, and Copper Mountain is down 6.92%.

Copper prices fell to a 19-month low amid recession fears, Bloomberg reported.

Copper closed at US$7,670 per tonne on the London Metal Exchange. However, during the day, the copper price shed 5.1% to US$7,597 a tonne, its lowest point since December 2020.

Global recession concerns are "continuing to predominate on the metals markets", Commerzbank AG analyst Carsten Fritsch told Bloomberg. He added:

Sentiment in US industry is becoming more gloomy, in other words; we interpret this as a sign that the US economy is losing momentum

Commenting on base metal prices, ANZ senior economist Catherine Birch said copper "led the sector lower". In an ANZ Research report, she added:

Sentiment was further hit following the new outbreak of COVID-19 cases in Shanghai.

Meanwhile, one broker has upgraded the OZ Minerals share price from hold to add, as my Foolish colleague Brendon reported this morning. The broker thinks the company's shares are "far too oversold".

The post ASX copper shares in the red as copper price sinks to 19 month low appeared first on The Motley Fool Australia.

Hot Chili is an ASX-listed copper exploration and development company operating in Chile's Atacama Region.

At the time of writing, the Hot Chili share price is up 17% at $1.60. To compare, the broader S&P/ASX All Ordinaries Index (ASX: XAO) is up 0.74%.

So, what did the copper explorer announce?

Largest shareholder to buy 60% of copper production

Hot Chili has announced it will enter into an offtake agreement with its largest shareholder, Glencore. The agreement covers 60% of future copper concentrate production from Hot Chili's Costa Fuego copper-gold project.

As of August last year, Glencore holds a 9.96% stake in Hot Chili.

Costa Fuego is a large-scale copper site that includes the Cortadera copper site and the Productora copper-gold project.

Chili says the site is ideal in a "low altitude, coastal range of Chile, infrastructure rich, low capital intensity" area.

The agreement will be in place for eight years and effective from the start of commercial production.

During that time, Glencore will be able to have Board representation and participate in a technical steering committee, as long as it maintains at least a 7.5% stake in Hot Chili.

What did management say?

Hot Chili managing director Christian Easterday said:

The quality of Costa Fuego continues to be externally validated with Glencore's 2021 equity investments and the execution of this Offtake Agreement on commercially competitive terms.

We ensured project financing flexibility with 40% of our first eight years of concentrate production remaining uncommitted ahead of initiating project financing discussions in 2022, following completion of the Costa Fuego Pre-Feasibility Study.

Glencore's expertise and support is welcomed and is an important part of our strategy to successfully transform the Company into a material copper-gold producer.

Hot Chili share price snapshot

The Hot Chili share price has seen a volatile 12 months, trickling down by 32%. In fact, the shares hit a 52-week low of $1.25 just last week.

The company has a market capitalisation of $149.77 million.

The post Heating up: Hot Chili (ASX:HCH) share price leaps 17% on new copper deal appeared first on The Motley Fool Australia.

• The Hot Chili share price shed almost 7% today
• The company has executed a letter of intent for port access
• Copper prices have fallen nearly 2%

The Hot Chili Ltd (ASX: HCH) share price lost some of its spice today. The ASX mining company's shares ended the day down 6.74% at $1.73 apiece.

For context, the S&P/ASX 200 Index (ASX: XJO) sunk 2.27% today.

Let's take a look at what might have impacted the company today.

Port negotiations commence

The Hot Chili share price plummeted today despite the company releasing what appeared to be a positive announcement.

The miner, which is exploring for copper in Chile, South America, signed a letter of intent with Puerto Las Losas SA (PLL) to negotiate port access and port services.

Hot Chili requires access to the port to progress its Costa Fuego copper development hub in Chile. PLL will pay for a study looking into the use of its port for the shipping of copper and other materials at the project.

Speaking on the announcement, Hot Chili country manager and chief legal counsel Jose Ignacio Silva said:

Securing port services will be a major step forward for Costa Fuego. Leveraging off existing port infrastructure will materially reduce Costa Fuego's environmental footprint during construction and operations.

As no new port or areas will be required for construction or subject to environmental permitting, we expect a positive impact to our construction capital requirements and overall permitting/construction timelines.

Hot Chili said PLL is looking to present the company with a binding offer for port services in 12 weeks or fewer. If this goes ahead, the companies will start operations in the final quarter of 2025.

Falling copper prices could have also have impacted the Hot Chili share price today. Copper has dropped 1.78% from US$4.5825 on 20 January to US$4.501 per Lbs at the time of writing.

Hot Chili share price snapshot

The Hot Chili share price has sunk 14% in the past year. In the past month, it has gained 1.47% but has fallen around 5.5% this week.

Meanwhile, the broader ASX 200 index has returned around 5% over the past 12 months.

The post The Hot Chili (ASX:HCH) share price cooled by 7% today. Here's why appeared first on The Motley Fool Australia.

Market watchers saw the copper developer's share price seemingly surge a massive 4,455.5% last Friday. It increased from 4.5 cents to $2.05 in a single session. But that was just an illusion.

The company recently completed a large share consolidation, decreasing the number of shares it has outstanding at a ratio of 50:1, rounded up to the nearest full number. Thus, the value of each share increased about 50 times over.

However, the last 2 sessions have seen the company's stock in the red.

At the time of writing, the Hot Chili share price is back to $2.02, having fallen 4.6% yesterday and another 1.46% today. This is despite no news being released by the company.

For context, the S&P/ASX 200 Index (ASX: XJO) dropped 0.6% yesterday and is flat at the time of writing today. Meanwhile, the All Ordinaries Index (ASX: XAO) fell 0.7% yesterday and is currently sporting a 0.13% dip.

What's going on with the Hot Chili share price?

Hot Chili reduced its outstanding shares ahead of its plan to list on the Canadian venture stock exchange (TSXV).

By having fewer shares outstanding, the company states it has a more effective capital structure and appropriate share price ahead of its dual listing.

At the end of the consolidation, the company had about 87.5 million outstanding shares, down from approximately 4.4 billion.

As a result, the Hot Chili share price is far higher than it was a fortnight ago. Though, the company's market capitalisation remains relatively unchanged at 176.85 million.

In October, Hot Chili said it was on track to debut on the Canadian exchange before the end of 2021. Its new share price puts it in a similar position as its TSXV-listed peers.

However, the company hasn't released any word to explain its stock's recent tumble. In fact, the last time the market heard price sensitive news from Hot Chili was 1 November when it provided an update on its activities over the September quarter.

Right now, the Hot Chili share price – adjusted after the consolidation – has fallen 3.8% year to date. It has also dropped 14% over the past 30 days.

The post Why is the Hot Chili (ASX:HCH) share price losing its spice lately? appeared first on The Motley Fool Australia.

This follows on from the company's ASX release this morning detailing the promising results of its first mineral resource estimate for its Cortadera project in Chile.

The big gains will come as welcome news to long time shareholders, who witnessed a 75% collapse in the share price from late January through to early April. Since 2 April, the Hot Chili share price has surged 310%. That's enough to put shareholders up 2.5% year to date.

For comparison the All Ordinaries Index (ASX: XAO) is down 7.2% since 2 January.

What does Hot Chili do?

Hot Chili is primarily a copper explorer, though the company keeps a keen eye on its gold and silver resources as well. As its name implies, Hot Chili's projects are located in Chile, in what the company labels Region III along the coastal range.

The company's stated goal is to establish a central copper hub named Costa Fuego. This hub would encompass its 3 projects, Cortadera, Productora and San Antonio.

Hot Chili has a market cap of $89 million.

What did Hot Chili announce to the ASX to see its share price soar?

This morning Hot Chili announced promising results from the first mineral resource estimate (41% indicated and 59% inferred) for its Cortadera project. This represents one of only two major copper discoveries reported across the globe in the past 4 years.

The results indicated 724 million tonnes grading 0.48% copper equivalent for 2.9 million tonnes of copper; 2.7 million ounces of gold; 9.9 million ounces of silver; and 64,000 tonnes of molybdenum.

The company noted that the maiden Cortadera resource adds 451 million tonnes grading 0.46% copper equivalent. It said this now positions Hot Chili with the largest copper mineral resource and amongst the largest gold mineral resources for any emerging ASX companies.

Addressing the results, Hot Chili's Managing Director Christian Easterday said:

The Cortadera resource estimate is a strong achievement given the company only executed a deal to acquire the privately owned discovery in February 2019… Generating a 451Mt maiden Resource for Cortadera a mere 14km away from our established Productora deposit (273Mt Resource) demonstrates the sheer scale of Hot Chili's Coast Fuego copper hub.

Cortadera has a high grade core of 104Mt grading 0.74% copper equivalent and this has strong potential to continue growing rapidly with further drilling… We look forward to an exciting 12 months ahead with further drilling results and resource growth.

With the company planning a second mineral resource estimate for Cortadera in 2021, Hot Chili's share price is one to watch.

The post Hot Chili (ASX:HCH) share price up 11% following this announcement appeared first on The Motley Fool Australia.

Since its August 2016 initial public offering at 20 cents per share the stock is down 25%, which is the kind of atrocious return likely familiar to many of the site's users.

In fairness to its owners it did post a net profit of $361,000 on revenue of $2.2 million for the six month period ending December 31 2018, although both numbers were down 46% and 10% respectively on the prior corresponding period.

For the most recent period it also paid no dividend, compared to payments of 1 cent and o.5 cent per share for the two prior periods.

However, as a profitable business it's a long way ahead of many of the companies discussed on its message boards.

The site makes most of its money from advertising and as an 'investor relations tool' for ASX-listed companies seeking exposure to its substantial user base of retail punters and investors. For example micro-cap or 'speculative' ASX companies will commonly use paid advertisements to promote themselves to site users.

Generally though the site is not much more than a tax on the gullible, as its normally less-sophisticated users tend to promote speculative businesses that are not investment grade.

However, there's no doubting its popularity among day or technical traders as a source of tips, guesses, or opinion on stocks at the speculative end of the market,

Overall, as you can probably guess, I'm not a buyer of HotCopper shares…

The post Down 14%: Here's why the Hotcopper share price just hit a 52-week low appeared first on The Motley Fool Australia.