HLX - Helix Resources

[Absolutely]

Go Nuke, I am a solemn holder too through this turmoil. I am reluctant to let go. I have let go before at this stage only to see the share sky rocket shortly after. I have to have faith in the fact that some big players bought in to this thing just below 50c. Those guy's aren't idiots. They did that for a reason. I will never forget my OMH experience, bought in in the 60s. Some big players also bought in around the same time. Then the company made some poor announcements. The share went to 19c and I got out at that level thinking the game was up for that company. This was only a year ago. Look at OMH today - $2.25. I curse about this over and over and vow never to make the same mistake again.

Look I can't say that HLX is going to rebound, and who knows, maybe AQA and AMCI have also made very expensive mistakes with HLX. But just like I am scared to stay in, I am also scared to get out. Have to stick your nexk out in this game if going to do any good with it.

I am going to say I have faith in AQA and AMCI. Just wish I really believed it.

 

[Sean K]

Golly HLX is in the dog house. Along with a few other fe juniors I suppose. ROY comes to mind...

What the heck is Minataur doing with all that gold sitting there waiting to be dug up and sold at spot? Wasn't a decision due yonks ago? Anyone in touch with the company or have an update?

HLX website has this:

Tunkillia - SA

Tunkillia resource 800,000oz Au with exploration upside.

JV with Minotaur Exploration earning 51% by spending $5M by 2009.

Minotaur preparing economic studies on development potential in light of positive gold price.

I suppose it's out of HLX's hands.

Same with Yalleen:

Yalleen JV - WA

Yalleen JV (API 70%, Helix 30%) covering 600km² of the upper reaches of the Robe River drainage system,50km SE of Pannawonica.

First drill program at Kumina Creek identified buried channel iron deposit 2700m by 900m up to 30m thick grading up to 60% iron.

2007/2008 $2.3M drilling program currently testing several hundred million tonne exploration target.

JORC resource expected Q2 2008.

When were the last drill results released by AQA? Must be ages ago?


Chart wise, what a turkey it's been the past 3 months, on the back of the recession bear. Should be some good support around here you'd imagine.

 

[Go Nuke]

Totaly agree kennas, what a pathetic stock HLX has become

They are just too slow at making any announcements! They always have been.

I imagine AMCI are spewing right about now having bought all those shares (15Mil) at 48c!

hey...at least5 it makes me feel a bit better seeing them sitting on a bigger loss than me

I dont email companies very often. The last one I emailed was Mark Gasson from ERN to find out wtf was going on...I think i might have to email HLX and ask the same thing. Lets just hope it doesn't turn out like ERN after I emailed them..lol.

 

[Absolutely]

I think it's relevent that there has been no change in substantial holdings notices and that that AMCI, AQA and company directors have all held firm through this. This must be an indication of confidence.

Let's not get too depressed just yet. Have faith !!!

Yalleen and Tunkilla have upside potential that could send this on it's way again at short notice.

 

[Jimminy]

sp has fallen on bugger all volume which remains a positive, but insider trading can't be discounted.

I have bought back in the over the last few sessions and actually doubled my holdings

AMCI has just bought out Giralia's interest in RHI - announcement out. So it is still game on from AMCI's perspective.

AMCI couldn't be bothered about the sp Nuke, they are building an iron portfolio in conjunction with AQA and will focus on the potential earnings of the venture into the future, not whether HLX is 15c or 50c. The fact that someone has sold Helix down (imo could actually be one entity) is completely irrelevant to where this company will be in 5 years time.

These are the times you laugh about how cheap the shares are to buy. But in saying all that I am still mightily disappointed it has come back down to this support level.

Edit: forgot to add, RHI closed at $5.20, AND AMCI have offered $7.00 share to Giralia. They have accepted. Like I said, game on still.

 

[Go Nuke]

I emailed helix Resources last Monday at Helix@helix.net.au and have recieved no reply as yet

I'm sure they are busy trying to run a company but as a share holder I wanted some answers as to why we have had no new ann recently or even a reply to my query about whats in the near future pipeline.

Perhaps they didn't like me expressing my thoughts about the decline in the sp becasue of too few updates

Not happy really!

 

[jtb]

Hey gang,

F&ck me its not too positive in here is it.

I'm stuck on a greenfields site working 5 days a week (Yuck) without internet access................
Personally I'm still buying and am yet to see a reason not to (conveniently ignoring the chart).
I had been calling AQA re: Yalleen and was told some time ago (the day after HLX updated their website) that second quarter was going to be the soonest re JORC for Fe. Got a bit excited with RHI upgrade recently but it only confirmed what I had been told (not incl' HLX).
As Kenna's said, Minotaur have a substantial commitment Au wise also and although I haven't been able to extract the remaining $ commitment and exact timeframe if they don't meet it then were back to owning the lot (next year?).
If you do the numbers, fully diluted with cash in hand and conversion money then she still looks hot imo.
Time will tell.
As for AMCI they really can't buy anymore unless they want to look at TO as they waded straight in to become the biggest shareholder.

RHI @ $7.00 values 70 million tonnes of Fe (RHI share) @ $240 million

I see no reason why our JORC won't be between 30 and 75MT min case?

Go HLX

 

[Go Nuke]

Still no reply to my email.

I did get the right email adress didn't I??

Should I resend it..or am i just being impatient?

 

[jtb]

Still no reply to my email.

I did get the right email adress didn't I??

Should I resend it..or am i just being impatient?

Hey Nuke,

Give Mick Wilson a ring if it'll make you feel better
AQA will reply to emails if its Fe stuff your after, but you'll just get the company line.
As the quarterly is due shortly I wouldn't expect too much prior to then

Don't get to watch much these days but it seems someone is happy for the price to end unchanged the last couple of days...................
My rose coloured glasses find it a bit suss that a seller feels the urge to offload $35 worth of stock at 4.10pm wed/thur and the 150K @ 0.28 only recently appeared too?
Option buyers obviously see >35c value in her too.

EV around 14mil by my figuring, don't need very much iron to support that.

Hopefully MEP will breach their farmin conditions and by next March we'll have 900k ounces of gold up our sleeve too.

 

[YOUNG_TRADER]

Some action today, up 25% guys, looks to have bounced off 15c Support line very well,

I wonder whats caused the sudden interest, any thoughts

 

[mobcat]

I have been buyin again YT not today but iam back on board , wayyyyyyyy oversold for the dirt at hand bring on the 30,s again my call
No news got this to 50 plus with just directors buying so what will it do if the company bring out the numbers promised , i did very nicely out of HLX selling into the directors and AMCI in 2007 hopeing for a encore in 2008 ,better the devil you no sometimes hey

 

[Jimminy]

wayyyyyyyy oversold for the dirt at hand bring on the 30,s D

Absolutely, the dirt at our disposal is the key here.

AMCI & AQA are the most intune with what potential it holds and they made sure they were in early. Top up is all I can say.

 

[jtb]

Absolutely, the dirt at our disposal is the key here.

AMCI & AQA are the most intune with what potential it holds and they made sure they were in early. Top up is all I can say.

Well said Jimminy, can't agree more.
Considering our director, exploration manager, AQA, RHI and AMCI all paid more than where we are now you'd think we'd be looking at alot of upside from here.

Did you call anyone at HLX or AQA Nuke?

As YT mentioned 18 months or so ago Tunkillia alone should support the share price in the teens.
Considering Au @ $1000 an oz, I'm still happy giving it $50 an ounce of value.

So it still supports us @ 20c imo.
If MEP can't pull their finger out in the next 12 months than the Au resources alone should be worth somewhere above 40c a share.

Cash in hand is > 6c a share.

So we've got minus 6c a share built into the SP for our Fe JORC due this quarter.

If we compare what an iron JORC has done for our API partners than we could feasibly expect between 50 (CUL) and $110 million (RHI) MC attributable for 30MT.
I know I harp on this value due its allusion by HLX for Kumina Creek (alone) but it + cash/Au still gives me a value of 60c-$1.00.

The elephant in the corner- the BID target @ Bonham provides the spec appeal imo as even if 'worst case' the iron cap is <55 % Fe- it doesn't mean it wouldn't be economic when blended with the underlying Marra Mamba?
As I've calculated earlier, this target alone could well be multi-hundred million tonnes.

No pie in the sky conceptual BS from these guys- been drilling all year

 

[YOUNG_TRADER]

Keep the faith JTB,

The previous drilling by AMCI showed there was Fe there and as you have mentioned AMCI were happy to pay up to high 40's to get on board HLX so keep the faith, given they are the ones managing the project I'd say they know something we don't

 

[jtb]

Keep the faith JTB,

The previous drilling by AMCI showed there was Fe there and as you have mentioned AMCI were happy to pay up to high 40's to get on board HLX so keep the faith, given they are the ones managing the project I'd say they know something we don't

Cheers mate,

I've drawn the wagons and bunkered down recently with HLX attracting all the attention outside of oilers.

Going off some $10 a tonne Fe and $150 an oz Au in ground values i"ve seen quoted recently- I figure HLX should be worth about $2.80 ps minimum case

Go HLX

 

[Jimminy]

Cheers mate,

I've drawn the wagons and bunkered down recently with HLX attracting all the attention outside of oilers.

Going off some $10 a tonne Fe and $150 an oz Au in ground values i"ve seen quoted recently- I figure HLX should be worth about $2.80 ps minimum case

Go HLX

Just wait for us to go back up people - long termer this one.

AMCI & AQA know what's going on and imo have commenced buying small parcels again of late.

Have just about picked up 50% on my buys from a few weeks ago Starting to make my Helix portfolio look real nice again.

Go the Helix!

 

[Jimminy]

AMCI & AQA know what's going on and imo have commenced buying small parcels again of late.

Quarterly out folks - some interesting reading. Delayed results from KC also included. API still to complete alot of drilling so I look forward tothose results.

 

[Jimminy]

Quarterly out folks - some interesting reading. Delayed results from KC also included. API still to complete alot of drilling so I look forward tothose results.

Had a read - depth of intercepts is the big issue that I can see staring me in the face. Everything else looks normal other than the grades being par.

Not enough depth.

 

[jtb]

Had a read - depth of intercepts is the big issue that I can see staring me in the face. Everything else looks normal other than the grades being par.

Not enough depth.

G'day J,

Just finished reading the quarterly and while not spectacular they did state the KC results are for last years drilling and do not include the infill work that started in Jan.
They also mention the infill holes will improve hole spacings to 200m x 100m centres so I assume presently their 400m apart?
When we used to run patterns (as opposed to heel and toe) we would usually come in to 50m centres so theres a fair bit room yet to be proved.
Even so, @ a 10-15m average width thats still around 18MT for KC on its own, which is still nothing to be sneezed at.
Robe exit has alot of sizeable pods that I would imagine also be included in the JORC.

Robe west is twice the size of KC and yet to be drilled

You would have noted that the big hardcap at Bonham has been confirmed as enriched @ 45-52% Fe up to 10m thick- thats 75MT using an average of 50% Fe over only 5m thickness.
If the underlying Marra Mamba is 60% Fe and only 5m thick then that could easily be 150MT @ circa 55%Fe.
This is usually alot thicker than 5m

CUL has a market cap three times the size of ours on similiar cash and 25MT of Fe (and prospects in Finland)!!!

Glenburgh seems to be getting some attention and another 400k oz of Au there would make our gold resources quite impressive indeed.

I wonder if something can be expected from the statement regarding 'consideration of asset opportunities'?

Seems to be been a fair bit of volume (relatively speaking) over the last few days so I assume we still have a lot of off screen buyers matching the sellers?

Cheers

 

[Jimminy]

G'day J,

J
I wonder if something can be expected from the statement regarding 'consideration of asset opportunities'?

Cheers

JTB, haven't sold out on this one.....have been on too long now not to watch this develop some more. I'll stay till I see what develops with AQA & AMCI. I too am wondered what asset opportunities means (to buy or to sell that is the question???)

But I did not enjoy reading the depths, I didn't quite cringe as they are not terrible but certainly was 'hoping' for a little better but as you say lots more to be drilled yet hence there won't be much selling on that report alone.

A few tree shakers came out straight after that report with sizeable sell bids that disappeared the next day.

It's still game on - don't worry about that. Let's hope for good depth results in the future results as the other parameters are all in spec so to speak and we have plenty of earth there.