HLX - Helix Resources

[constable]

They're executive incentive options, given to the directors for free.

That said, I'm anticipating an interesting couple of months coming up as the announcements start to flow.

I was nearly going to say the same thing but if you check all 3 ann...... app 3y for Greg j Wheeler stated he exercised 700,000 options @ 14c and purchased a further 250000@20.8c average as well as receiving the incentive freebies!
Positive news on a positive graph, it would seem things are starting to build again.

 

[Jimminy]

Greg j Wheeler stated he purchased a further 250000@20.8c average as well.

Yes that's what caught my eye. All good things come to those who wait - well sometimes.

 

[stoxclimber]

Great news about Mr Wheeler

looking forward to the annoucements!

 

[stoxclimber]

HLX

Summary
Tunkilia is a large gold project that will eventually be developed by MEP and may even be bought out by OXR, at worst its worth 25c to HLX at best 65c

Like YT said..looking forward to news about this project!

 

[Jimminy]

Announcement this evening.....BRR interview.

Greg Wheeler has stated that they are not expecting any announcements to be made on any of their projects until the back end of June.

Which I then interpret as being mid-late July.

Well we've waited months for announcements whats another 2-3 months...lol

Stock might drop a little tomorrow on this news. What do others think?

 

[Go Nuke]

Well im happy to see that even after that announcement the SP hasn't dropped below 19c.

Surely a nice bit of news soon from HLX will see its share price jump up to the next level.

 

[Go Nuke]

All quiet on the HLX front.

Hope there are some early results from the Warrior drilling going on by TOE.

TOE,SRZ and HLX to name a few JV's happening down that way.

Everyones jumoped onto the Uranium market..lol.

HLX needs some good news to keep the MACD out of negative territory.

Personally Im hoping they come through on the goods with their "Fe" exploring.
China is not finnished with our steel yet {Ore i spose}

 

[Jimminy]

sp is going down as far as I can see - slowly trending downwards with volume and buyers drying up.....

As soon as it does I am in with more. Fundamentals have not changed and improve as the weeks tick by.

 

[$20shoes]

Yes, hate to see HLX lingering like this.
Only positives I can see short term is that price is coming back to a long term trendline and the Ichimoku cloud dries up on 10th May which can indicate sharper price movements (possibly room for a rally here if it continues to find support from the orange span??)

 

[sydneysider]

Yes, hate to see HLX lingering like this.
Only positives I can see short term is that price is coming back to a long term trendline and the Ichimoku cloud dries up on 10th May which can indicate sharper price movements (possibly room for a rally here if it continues to find support from the orange span??)

Unfortunately MACD looks mildly bearish and portends further testing of 19 and below. Bullish news may change this picture down the road but at this time may be prudent to stay on the sidelines with this one.

 

[$20shoes]

Agree Sydneysider...a lot of chartists will be seeing an ascending head and shoulders that seems to have formed from December till now, and will be keeping them on the sidelines.

 

[Go Nuke]

Well lets hope the Iron Ore exploration work HLX are doing comes up good.

This quote was taken from the "Western Australian Newspaper" today.

**Access Economics believes iron ore prices will jump another 12 per cent by 2009 to generate about $100 million a year in extra royalties for the State Government.**

Im sad to see that HLX hit 18c
Not good.
We really need some news soon.

 

[Go Nuke]

NNNOOOO ....17.5c.

Give me some news please!
What happened to some news in April??
Hmmmm..well i hope its good when it arrives.

Especially on the back of the new ALP ruling

 

[Jimminy]

if you believe so strongly you would be buying now then.

It will return above 20c at some stage - maybe a couple of months away. Investors just staying away until news time nears. That's all.

Take it as a chance to buy cheap.

 

[Go Nuke]

if you believe so strongly you would be buying now then.

It will return above 20c at some stage - maybe a couple of months away. Investors just staying away until news time nears. That's all.

Take it as a chance to buy cheap.

Ive bought enough.
I didnt think they would drop down below 18c though
Oh well..Ive got plenty of time.

 

[Jimminy]

I didnt think they would drop down below 18c though
.

That's because most didn't expect the Tunkillia announcement to be so far in to the year.....

This is one thing with Helix - free carry means lack of control on timeframes. And some (many) investors don't like this not just in Helix but plenty of other companies.

Hang in there. If it was still at 20c we wouldn't mind and wouldn't sell so I see know issue with it coming back to 17-18c for now. Will look different in six months time.

 

[TheAbyss]

MEP Tunkillia announcement out. Looks pretty good to my amateur eye.

http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00716918

 

[YOUNG_TRADER]

A few people have asked me my thoughts re HLX recently and the recent Tunkillia update by MEP so I thought I'd reply here,

Tunkillia is the reason I like HLX as it offers a good gold project being managed by proven developers, this project IMO de-risks HLX and thus seperates it from other spec explorers

The Iron Ore at Yallen and Uranium at Lake Everad provides good spec upside

HLX
Share structure
100m shares + 25m 14c 31/3/07 opeis,

Mkt Cap
15c = $18.75m
20c = $25m
25c = $32m
30c = $37m
35c = $44m

Projects

Tunkillia Gold, HLX is 49% Free Carried by MEP, OXR has taken an option to earn 25% as well, if the project stakes up OXR have expressed their desire to purchase it outright as with Prominent Hill

This is the jewel in the crown,

JORC stands at 10.5Mt@2.2g/t = 730k oz's Au
However this is a 18month old JORC that HLX outlined, MEP has been drilling away for the past 12-18months and a new JORC is due out soon, the new JORC will probably be 15Mt@2.5g/t = 1.34 Million oz's Gold

Cap Ex is estimated to be $30m - $50m for a 1Mtp.a. or 2Mtp.a. plant

Cash operating costs are estimated at $400 oz which at a current AUD spot of $800 oz provides some very nice cash flow figures

NPV of project
Assumptions:
Resource = 730k oz's
Margin = Estimated to be $400/oz but use $300/oz to be safe
Cap Ex = $50m

730k oz's @ margin of $300oz = $220m less Cap Ex -$50m = $170m

Net to HLX = $170m x 49% = $80m = 64c HLX

Clearly alot of potential here and the most important factor that seperates HLX from other speccies is that a Proven Development company MEP are doing all the hard work to get the project going, thus funding is not going to be an issue, also as OXR has a back door option to buy into the project it spices things up a little. so its only a matter of time.

EXPECTING JORC UPGRADE WITHIN 2 MONTHS (expecting 75% increase to resource)

Gold - Tunkillia
Joint venture partner Minotaur Exploration Ltd has commenced the process of calculating a new JORC resource for the Area 223 ore-body taking into account the recent Diamond, RC and Slimline RC drilling completed by Minotaur up to December 2006. This drilling included some significant intersections in the oxide portion of the ore-body outside the previously defined resource as well as covering gaps in the 50m X 30m drilling grid. The additional mineralisation discovered in the shallow oxide zone has the potential to provide the project with additional shallow ounces to the
resource, as well as converting previous waste to resources.

In addition, ounces identified at Area 191 from recent drilling have the potential to add positively to the project economics.
Minotaur is continuing a program of slim-line RC drilling to add to knowledge of gold mineralisation in the oxide zone at Area 223, together with a metallurgical study into the leaching characteristics of both the oxide and primary ore types. Initial bottle roll tests have shown that both ore types have positive leaching characteristics, further column tests are now required to confirm this and calculate the expected recovery percentage for both ore types. Whilst these programs are expected to be completed during the first quarter of 2007 and assist in any development decision, Minotaur expend money at their discretion under the JV earn-in, have until March 2009 to expend the $5 million to earn their 51% and Helix can only release results when made available by Minotaur.

Glenburgh 100% Gold, W.A.
JORC 1.1Mt@3.1g/t = 110,000 Oz's Au, they're targeting a minimum 500k oz resource for a stand alone project

Lake Everard HLX 49% TOE (Toro) 51% Searching for uranium
S.A. part of Tunkillia area

Recent surveys by Toro Outlined several huge anamolies, they will be drill tested by a massive 1000 Hole Campaign in March/April

Uranium
Toro Energy Ltd has carried out a regional airborne AEM survey on 1 kilometre line spaces covering approximately 920 square kilometres of Helix’s Gawler tenements in South Australia. The AEM dataset was processed and a depth to basement-palaeochannel location interpretation was conducted by Toro’s geophysical consultants. The survey has identified an approximately 25
kilometre long portion of palaeochannel that appears prospective for uranium. From the AEM survey five (5) priority palaeochannel uranium targets have been identified, and each area will have in the vicinity of 200 holes drilled in fence lines to transect the palaleochannels to fresh basement. The target area is located on the eastern edge of South Australia’s Yellabinna nature reserve, therefore a series of access conditions must be met prior to drilling. Drill planning is currently underway, with fieldwork expected to commence at the end of the fire-ban season. Drilling is expected to commence in the Q2 of 2007, however Toro expend money at their discretion under the JV earn-in, have until mid 2009 to expend the $2 million to earn their 51% and Helix can only release results when made available by Toro.


Yallen 30% Free Carried by API, Pilbara W.A.

The drilling confirms a mineralised
zone of 2.7km x 900m, up to 30m thick and grading
up to 60% Fe.

2700x900x30 = 73m Cubic Metres Ore

Now over at the YML thread gringokonyo and camaybay established that 1cubic metre ore = 4 tonnes

73m Cubic Metres = 292mt Ore grading say 58% Fe


Iron Ore
Joint Venture partner Australian Premium Iron [“API”], which comprises AMCI Holdings Australia Pty Ltd and Aquila Resources Ltd, announced in December 2006 the discovery of buried channel iron mineralisation at the West Pilbara – Yalleen Iron Ore JV, which is located approximately 50kilometres east south-east of the Pilbara township of Pannawonica. API is spending $1.5 million prior to April 2009 to earn a 70% interest in the iron ore rights of the tenements held by Helix. Helix can thereafter elect to contribute pro-rata or dilute at $50,000 per 1% until its JV interest reaches 10%, wherein the Helix interest converts to a royalty of 50 cents per tonne.

The initial drilling results from the 1st target area confirms a mineralised zone of 2,700 metres by 900 metres. Whilst we expect API to commence drilling the other target areas from the Hoist EM survey and prepare a resource estimate as they move down the development path during 2007, API expend money at their discretion under the JV earn-in and Helix can only release results when made available by API.

Summary
Well its no longer an undiscovered GEM,

However Tunkilia still provids excellent true fundamental value, as does Yalleen with the AQA/API JV determined to get into production ASAP and will fully fund development if need be.

The U grounds around Tunkilia provide HUGE SPEC UPSIDE which we will se reflected in by a Share Price re-rating when drilling begins

 

[megla]

thanks YT, makes me feel better about holding I'm sure other nervous holders will feel the same.

Whats with a 100 character post minimum???

 

[Go Nuke]

Thank you for your thought YT.
It was a very interesting Summery

I notice that no shares have been traded today
Now being new to shares....is this a good thing or a bad thing?
Im assuming its sort of good becasue it shows that people are'nt willing to move on their price much..so hopefully this might force people to pay more in order to buy a share.

Is this about right..or are there many reasons.

:microwave