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  1. #11
    Legend shasta's Avatar
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    Quote Originally Posted by shasta View Post
    Yeah teaming up with AMCI/AQA is a bloody good JV partner to have, i've always been impressed with AQA's coal & iron ore projects, but its already a large company & i'm looking at the < $20m mcaps, low EV companies
    HLX - Exploration & Project Update

    http://stocknessmonster.com/news-ite...E=ASX&N=529050

    Current SP $0.135 (MCap ~$20m)

    HLXOA up 21% to $0.085 (5/11 expiry, strike price 5c)

  2. #12
    ? steve fleming's Avatar
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    Quote Originally Posted by shasta View Post
    HLX - Exploration & Project Update

    http://stocknessmonster.com/news-ite...E=ASX&N=529050

    Current SP $0.135 (MCap ~$20m)

    HLXOA up 21% to $0.085 (5/11 expiry, strike price 5c)
    It amazes me the quality of HLX's assets, relative to its market cap.

    In addition to its Australian iron gold and copper, HLX's Chilean exposure offers significant upside which is currently completley discounted.

    I am guessing the market is not impressed with the situation that HLX is in with its billion dollar (HLXs share) Yalleen asset, where HLX are effectively locked out of control (though not currently as bad as the AGS/Quaestor situation)....not a good position to be in when your JV partners refuse to hand over development reports.

    The good thing for HLX is that each of the JV partners have buy out rights prior to development - the question is when will ACMI want to bring Yalleen into development?
    Share prices follow earnings....buy EPS growth!!



  3. #13
    Legend shasta's Avatar
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    Quote Originally Posted by steve fleming View Post
    It amazes me the quality of HLX's assets, relative to its market cap.

    In addition to its Australian iron gold and copper, HLX's Chilean exposure offers significant upside which is currently completley discounted.

    I am guessing the market is not impressed with the situation that HLX is in with its billion dollar (HLXs share) Yalleen asset, where HLX are effectively locked out of control (though not currently as bad as the AGS/Quaestor situation)....not a good position to be in when your JV partners refuse to hand over development reports.

    The good thing for HLX is that each of the JV partners have buy out rights prior to development - the question is when will ACMI want to bring Yalleen into development?
    Yeah the two stocks that stun me for being so cheap is HLX & MOX.

    But youre right HLX cant finance the outright purchase so they are hamstrung for now, but still 18,000t Cu & 800k Au resources support the market cap easily

  4. #14
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    Hi guys. Been looking at Helix this evening since I have a parcel of money that wants to become shares. Based solely on the Yaleen project, HLX looks extremely undervalued, as everyone on this thread has said.

    But could someone give me a summary of the API dispute. It's a bit difficult to work out by trawling through announcements from Aquila and googling. I gather that API own 70% of Yaleen and Helix has the other 30%, and API is 50:50 Aquila and AMCI, and that Aquila and AMCI have been busy suing each other over the last few years.

    How does this affect the Yaleen project?

    Is there a court case ongoing concerning Yaleen, or is there just a general hold up concerning the project due to the bad relationship?

    Who is actually progressing the project, and how far are we from a decision to mine (I note I just used "we", does that mean I've decided to buy?)?

    Is a takeover that most likely scenario, and what is the potential value of Helix's share?

    Thanks in advance for sharing your research Meanwhile, I'll carry on with mine (pun?).

    Cheers
    Damo

  5. #15
    ? steve fleming's Avatar
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    Hi Damo,

    I am not aware of any legal dispute around Yalleen Project, however I do understand the following:

    1) Yalleen Project JV currently still operates under a temporary Heads of Agreement. Documentation formalising the arrangement has been under negotiation for many many months, and i am very surprised, and slightly concerned, that it is yet to be finalised.
    2) API (as operator of the JV and controlled by AMCI/AQA) controls the information regarding the Yalleen Iron Ore JV and determines what info they provide HLX. HLX were forced to produce their own costly scoping study, which while it highlighted the profitability of the project, it is meaningless as API will be doing their own scoping analysis, which HLX have not yet seen.
    3) API determines the timing of the development of the JV

    The issue as I see it, is simply the problem with many JVs, in that each partner has different agendas, HLX, as a minority JV partner cannot influence the timing of development or mining, and therefore is unfortunately in a very weak position in relation to what is a quality asset. HLX doesn't know when a decision to mine will be made as API haven't shown HLX their development or scoping studies.
    Share prices follow earnings....buy EPS growth!!



  6. #16
    FEAR n GREED JBmurc's Avatar
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    Yeah HLX continues downtreading 12c with bids at 11c might have to ring the Company ask the some Q's round the Yalleen Project which if goes ahead would surely see HLX get takening over or a major payout of their share...

    If I'm happy with the answers 500-600k HLX be on the shopping list going by this years volume could take awhile

    At current Iron ore prices the Parties involved would be stupid not to advance the project further rail access the biggie....

    other annoucements to look forward to over the short term--
    -5000m resource evaluation reverse circulation (RC) drilling program is scheduled for March 2011 to test extensions and continuity of significant gold intercepts on the Restdown JV (hlx earning 70%)

    -Drill test EM conductor located east, and parallel to, Canbelego Inferred Resource of 1.5Mt @ 1.2% Cu
    -Drill test a series of discrete magnetic bullseye (± gravity) features on the Quanda and Five Ways Projects.

    later in the year -Tunkillia will be drilled further with JORC upgrades
    "With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu

  7. #17
    ? steve fleming's Avatar
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    Updated Research Report

    http://helix.net.au/aurora/assets/us...ual_Update.pdf

    "We value the Company based on PV of cash flows which are expected to be generated from its Yalleen Iron Ore Project. Assuming a discounting factor of 16.6% for the project and a production span of 12 years, we have arrived at a target price of $1.169, which provides an upside of 874% to the current market price."

    current price = 12c
    Share prices follow earnings....buy EPS growth!!



  8. #18
    FEAR n GREED JBmurc's Avatar
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    Quote Originally Posted by steve fleming View Post
    Updated Research Report

    http://helix.net.au/aurora/assets/us...ual_Update.pdf

    "We value the Company based on PV of cash flows which are expected to be generated from its Yalleen Iron Ore Project. Assuming a discounting factor of 16.6% for the project and a production span of 12 years, we have arrived at a target price of $1.169, which provides an upside of 874% to the current market price."

    current price = 12c
    Isn't just crazy not often to you get a value 800% above current share price --Has the market just over looked or just doesn't care for HLX or the J.V partners to get on a move towards production at the Yalleen Iron Ore Project could it well just sit on the back burner with HLX having little choice but wait to the big J.V wants to move on and buy it off HLX ...I hope it's more along the lines of the major market sleeper that once a Rail agreement with RIO etc is annouced the market will re-awake to HLX and get a mass of Investors/traders fighting to get on board and in turn pushing the SP well north of 50c......towards $1 esp if HLX is then approched by the J.V partners on buying out their interests
    -HLX could well command a massive cash balance in 2012
    Last edited by JBmurc; 04-03-2011 at 04:31 PM.
    "With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu

  9. #19
    FEAR n GREED JBmurc's Avatar
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    --Latest presentation--
    http://www.helix.net.au/aurora/asset...nMarch2011.pdf

    1-2Qtr
    -Shouldn't be long till we get some results at Restdown & Canbelego & Fiveway drilling to start all in NSW
    -1500m drilling in chile early April start 400mt potential Cu,Ag,au
    -Olary Iron ore drilling 1bill+ target

    -Tunkillia Gold drilling result any day as well 46% HLX
    "With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu

  10. #20
    Legend shasta's Avatar
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    HLX - Quarterly Report

    http://stocknessmonster.com/news-ite...E=ASX&N=536590

    $3.5m cash & EV just $13.3m @ 11c

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