HLX - Helix Resources

[Pommiegranite]

Sorry Helixers, can't help myself.

After CUL's Friday run I'm inspired (and who cares about width in announcing results anyway

Still breaching YT copyright but updated-

RHI
40 Million shares @ $3.20 = 128 mil MC
20% of 135MT @ 58.5% Fe = 15.79MT of Fe
EV = $8.11 Fe/T

CUL
475 M shares @ 14.0c = 66.5 mil MC
30% of 68MT @ 56% Fe = 11.4 MT of Fe
EV = $5.83 Fe/T *

Now if we only look @ HLX's 'Kumina Creek' target and the conservatively stated >100 MT @ between 57% and 60% Fe.

HLX
128 M shares (fully diluted including new options) @ 34.5c = 44.1 mil MC
30% of 100MT @ 57% Fe = 17.1 MT of Fe
EV = $2.58 Fe/T

Again if we use CUL’s EV value we are looking @ 99.70c per HLX share.

Now wondering why our friends @ RHI and AQA are buying heaps of HLX shares and why AQA have put back the PFS again and HLX’s JORC to after Xmas??????????????????

If we look a bit closer at HLX’s figure regarding 'Kumina Creek'
(2700 x 900 x >30m @ 57-60%) and reduce the 30m by 30% to 20m to remain conservative and also use the low end 57% Fe value.

We get 48,600,000 tonnes and multiplying by an SG of 3.0 (for CID) we arrive at 145,800,000 tonnes of Fe.

30% to HLX @ 57% Fe = 24,931,800, tonnes

Multiplied by an EV of $5.83 = $1.45 per HLX share

Now considering the amount of drilling that may be completed on the large Bonham ‘Marra Mamba’ target and/or ‘Robe’ areas by the time the JORC is due who knows what we may be looking at?

Where are those gold results from Glenburgh anyway

Hope the calc's are right (have double checked) but very weary.

Night all

Jtb...I know little of RHI, but have to say that you are grossly underestimating what CUL have.

On friday CUL announced an extension of the the northern section of Catho Well. The north west section which has yet to be drilled extends at least 4x further than the north section. Then Cul has a further 3 tenements in the same Brockman formatiion.

After all of this there are the other JVs which CUL has

What I am basically getting at is that making your comparison leaves out many many details. I'm not saying one is worth more than the other, just saying well diverisifed compaines such as CUL with interests in Nickel, Iron, IOCG and Gold need to be valued on more than just one tenement in one commodity.

 

[jtb]

Jtb...I know little of RHI, but have to say that you are grossly underestimating what CUL have.

What I am basically getting at is that making your comparison leaves out many many details. I'm not saying one is worth more than the other, just saying well diverisifed compaines such as CUL with interests in Nickel, Iron, IOCG and Gold need to be valued on more than just one tenement in one commodity.

G'day Pommie,

The Australian Premium Iron (API) JV is operated by Aquila (AQA) and the three juniors involved are RHI, CUL and HLX.

Don't get me wrong I like CUL and think they are an excellent comparison company for HLX specifically for their inclusion in the API JV plus their quality JV assets outside of Fe-

As JORC/near JORC iron results is about the only thing driving the junior partners SP atm - that is the reason for the comparison.

In regard to upcoming iron results from outside the initial areas (Catho Well for CUL and Kumina Creek for HLX).

CUL

"Cullen has approved the Joint Venture exploration budget for 2007‐2008 of $370,000 and has also agreed for API to submit a revised budget for consideration by the Joint Venture to allow for the completion of baseline environmental and groundwater studies in preparation for possible development of the Catho Well Resource ‐ being approximately a further
$400,000. Cullen’s share of these budget items will be 30%.
A new estimate of the Catho Well Resource will be completed following additional RC drilling targeting untested CID west of the recent drilling programme."

HLX

"The 2007/8 program has a budget of $2.3M consisting of approximately 10,000m of drilling aimed at building on
the work completed to date, advancing the Kumina Creek target to JORC resource status and completion of first
pass drill testing of the Robe Exit, Robe West buried CID targets and BID targets identified within the Marra Mamba Formation.
Helix expects to be contributing from September 2007 after API has met their initial $1.5 million expenditure to earn 70% in the iron ore joint venture".

We can see plenty is going on for the pair

As I've mentioned previously, what really focussed my attention on HLX was the fact that an RHI director sold down his number one CUL substantial holding (if you combine the Wythenshawe and Warramboo holdings) by 60% to then buy 9 million shares in HLX?
This was then recently followed by an AQA director who was CUL's number 8 substantial shareholder (at the end of 2006) but who now no longer appears in their Top 20 at all. Purchased >7 million shares in HLX.

Seeing as AQA are in charge of the drilling and RHI are the fourth member in the quartet. I personally find this transfer of support compelling

Cheers

 

[Jimminy]

I am not sure what other people think but I am of the opinion that AQA are still buying HLX, particularly on a day like today its smacks of buying by something with deep pockets. HLX at 36c WTF this is getting the adrenalin going....

Whoever it is, they are happy to buy up. Now 36c Just my opinion of course.

 

[mobcat]

Green in a sea of red HLX today ..........nice show of strength today it might take a month or so for the big news but buying at these levels is still very attractive to alot of investors the last few weeks ........And i agree the big boys havnt finished with HLX yet value still here potential multibagger on Kurrmin Creek IO alone IMO all she needs is the fullness of time a nice xmas present HLX is shaping up to be

 

[jtb]

From AQA's September quarterly

"During the Quarter, exploration has continued to
advance on the Kumina Creek and Robe Exit CID
targets and the Bonham bedded iron target.
Work commenced late in the Quarter on diamond
pre-collars at Kumina Creek and is scheduled to
continue next Quarter, incorporating a 70 hole
diamond and RC drill programme, at Kumina
Creek and Robe Exit respectively.
During the Quarter, the Yalleen Iron Ore Joint
Venture approved an exploration budget for the
2007/08 year of $2.27 million."

Diamond holes showing JORC progress

 

[jtb]

I am not sure what other people think but I am of the opinion that AQA are still buying HLX, particularly on a day like today its smacks of buying by something with deep pockets. HLX at 36c WTF this is getting the adrenalin going....

Whoever it is, they are happy to buy up. Now 36c Just my opinion of course.

Nice to this also in the corporate section of AQA's ann' today

COMPANY BECOMES A SUBSTANTIAL
SHAREHOLDER OF HELIX RESOURCES
LIMITED

The Company notified the ASX and Helix
Resources Limited (“Helix”) on 2 October 2007,
that it had increased its shareholding in Helix, to
approximately 6.42% by on market purchases of
the shares of Helix during September 2007.

 

[Jimminy]

J,

we are yet to crack 40

You can stop worrying now JTB.....you're research is paying dividends.

40c cracked!

There was 3 or more parcels of 100,000 + shares around the 39-40.5. Whoever it is - they're still buying. That buy was a significant one.

 

[Sean K]

Closing in on target from pennant breakout. Unusual strength the past 2 days really considering gen mkt sentiment. Maybe AQA topping up.

 

[jtb]

Closing in on target from pennant breakout. Unusual strength the past 2 days really considering gen mkt sentiment. Maybe AQA topping up.

Closing in on that first resistance @ 65c

https://www.aussiestockforums.com/forums/showpost.php?p=206922&postcount=808

 

[Sean K]

Closing in on that first resistance @ 65c

https://www.aussiestockforums.com/forums/showpost.php?p=206922&postcount=808

Day high 45 made the target, now I'd expect consolidation again around these levels. Perhaps even back down to the 35 level.

 

[Jimminy]

things have gone a little quiet here.....perhaps a few poeple have got the jitters, bit nervous and sold down....

Hope not people....

 

[Sean K]

things have gone a little quiet here.....perhaps a few poeple have got the jitters, bit nervous and sold down....

Hope not people....

No need to commentate on every little move. Is there anything new to report?

This has been going to plan in my eyes.

Day high 45 made the target, now I'd expect consolidation again around these levels. Perhaps even back down to the 35 level.

Just going through some natural consolidation now. Check the last few times how it's spiked up and then consolidated to run again. Also note the similarity in volume drops during consolidation. This can be a sign of accumulation. All else being equal, it should probably follow the general upward trend, until people consider it to be getting overvalued or if it's run too hard and they're sitting on big profits. I haven't taken any profits yet. I'm waiting for the next lot of assays, and/or AQA JORC.

 

[jtb]

Not only me thats still up hey
1.00am over here whats the time where you are?

Haven't sold any either and If anyone wants to let some HLXO's go @ a parcel bigger than 1000 give me a bell.

Caught the end of the market yesterday and a bit this morning and I agree that someone still seems to be accumulating.

The couple of 100k sells still dominate the sell side and considering how hard it is/has been to buy this many without running the price up I still reckon they're trying to contain the enthusiasm (but obviously I'm biased).

I see Toro sound like their making some progress on the U front too.

 

[mobcat]

I sold a few in the 40s and sold 50+k of oppies at 20.5 very hard to sell HLX i must admit but with my entry around the 18 mark i needed to take a few off the table at these levels.

At this level i could free carry on a mil it is tempting but my plan is to hang in for November and re evaluate my position come December
The oilers are sure looking like the next hot sector and it,s hard not to take a early posi but HLX has so much good news to roll out ........Nice problem to have this one ....happy to hold ATM
Go GO HLX ,HLXO

 

[Jimminy]

HLX has so much good news to roll out ........Nice problem to have this one ....happy to hold ATM
Go GO HLX ,HLXO

God bless Greg Wheeler and those free options....

Sorry JTB - You won't be seeing my options on the table for sale. Too much upside leverage for something that cost nothing, with no tax.

Good to see us all around. Just had to see something written about HLX Kennas. Withdrawal symptoms.

Let's hope AQA are still buying ....

 

[jtb]

God bless Greg Wheeler and those free options....

Sorry JTB - You won't be seeing my options on the table for sale

Evening all,

J - wtf is with someone placing 90k of options @ 19c after I've sold out of ICN and spent the morning buying more OEL.

Snaffled the 10k @ 17c purely on principle but haven't got anything else to sell

Anyway, at least I was impressed with the ann' today.
Greg obviously got a rocket lately and decided he better start getting the word out with a pres'

Glad to see some other substantial holders knock back the performance shares at the AGM. They obviously reckon we should be bouncing off a dollar too

Loved the way they laid the assets and upside on the table and stated the MC, as an aside, at the end of it.

500,000 Oz of gold, loads of Fe and upside to the wazoo on other fronts, all for <50 mil MC

Nett value for the (mined) gold on its own would be likely worth >100 mil @ >$750 an Oz.

Makes the likes of IRM look a bit ridiculous imo

Go HLX

 

[Miner]

Nothing serious but to mention that I have noticed the exchange of information in HLX forum is of very high quality and quantitative too.
Keep up the work folks and I mean it.
On a vested front I do like to see HLX to go above $1 by March too.
I did not like Eureka report's prediction that on Wednesday there will be crash . In one letter Alan Kohler says boom, boom and then next letter he says about crash. EIther way he tends to win making us panicking.

Regards

 

[Jimminy]

Give me a H give me an E ............ah bugger it............

YAY HELIX

That 60c resistance better look out

Yes, JTB and there are people still selling. They just haven't quite worked it out unfortunately for them where this will be in 12 months.

Oh well, we have all tried to explain it to them.

Should be interesting to see where to from here with the results still a while away.

 

[Absolutely]

Another case of insider knowledge ?

This took off prior to the option announcement also.

There is clearly news out there not released to market. Seriously someone should be investigating this thing.

Not that I am complaining. On it from .14.

 

[jtb]

Hey J,

Yeah no one can say we didn't try hey

Didn't realise it but I was a bit profane in that post so I'm glad you saw it before it was pulled.
Sitting here trying to feed my youngest, while she's throwing apple and and pear everywhere except her mouth, checked commsec and nearly fell over

Thought I better wave the flag.

Absolutely,

TLM ran up 50% yesterday- why investigate us?

That end of day buyer has hardly been secretive and as YT said on the TLM thread today- 30 MT of Fe is worth over a dollar a share on its own

Yay HLX