Junior roundup: Ero, Adventus, Blue Sky, Liberty One, Neo Lithium, Hot Chili

Vancouver-based Ero Copper said the underwriters of an initial public offering and secondary offering exercised their over-allotment option in full and have agreed to purchase an additional 3.48mn shares at a price of Cdn$4.75 for additional gross proceeds to Ero of Cdn$16.6mn (US$12.9mn).

Ero has the Vale do Curaçá property in Brazil.

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Toronto's Adventus Zinc said in a press release that a geophysical survey taking place at the Curipamba project in Ecuador is expected to be completed by mid-November, while a drill program will be designed to begin in early 2018.

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Argentina-focused Blue Sky Uranium reported initial analytical results from a phase II reverse circulation drilling program at its Amarillo Grande uranium-vanadium project in Río Negro province.

Highlights include 1,131ppm U3O8 over 5m and 1,030ppm U3O8 over 5m. The phase II program is planned to include up to 3,000m of both extension testing and infill drilling with a goal of resource delineation, according to a statement.

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Vancouver-based Liberty One Lithium has begun drilling at its Pocitos West lithium property in northern Argentina, with a comprehensive report expected within eight weeks, it said in a press release.

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Toronto's Neo Lithium announced the results of a preliminary economic assessment at its Tres Quebradas (3Q) lithium brine project in Argentina's Catamarca province.

The PEA envisages a production rate of 35,000t/y of lithium carbonate, with an expected mine life of 20 years with a three-year ramp up period starting 2021. The project envisions total capital expenditures of US$589mn, US$1.13bn after-tax NPV at an 8% discount rate and an IRR of 24.4%.

The company said in a statement it expects to complete a feasibility study towards the end of 2018.

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Chile-focused Hot Chili Limited announced a share purchase plan for 85.7mn new fully paid shares to raise up to approximately Aus$3mn (US$2.29mn), to be used for general working capital requirements and to start exploration at the San Antonio and Lulu copper-gold projects following the execution of formal option agreements, which are expected shortly.