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JB.
Thank you for the above post.
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asked Greg on the timetable from AQA his reply...looks like we at least have Stage 1 DFS this Qtr..............
The latest AQA release suggests the WPIOP Stage 1 DFS is now due out during Sep 2011 Quarter and that funding discussions for the $6,000M Capex costs are progressing. This compares to statements end 2010 that DFS, development decisions and funding will be in place by 30 June 2011 ? so I consider the market may be somewhat wary of their ability to deliver given obvious timetable slippage. That said, I consider API may get some traction over the next 6 to 12 months with some Chinese funding support and co-operation between JV parties, the Stage 1 Project could move forward with a Decision to Mine in 2012 for Production mid-2015.
Yalleen JV has the potential to be a 8Mtpa stock feeder to the proposed API Stage 1 infrastructure in late 2015.
I consider the better strategy has been adopted by AGO and BCI ? do deals and get into production at earliest opportunity. That is why AGO Market Cap has rocketed past AQA in past few years.
These are only my thoughts and I am unable to predict the future.
Regards
Greg
"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
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The West Australian
, 2011, 10:01 am
Aquila Resources says it has secured preliminary environmental approval for its West Pilbara API joint venture iron ore project.
Aquila announced this morning the Environmental Protection Authority has recommended the Environment Minister Bill Marmion approve the mine and rail facilities for the project subject to conditions.
The first stage of the project, in which Aquila holds a 50 per cent stake, envisages a 30mtpa mining operation based on reserves south of Pannawonica and a 282km rail network connecting the mine with a proposed new port facility to be build at Anketell Point, west of Cape Lambert.
The EPA report is subject to a two-week appeal period.
Shares in Aquila closed up four cents at $5.39.
AQA ann.
http://www.aquilaresources.com.au/in...76CFDD55127C38
"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
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Looking at the API site the West Pilbara project is broken down into four projects one of which is Yallen.
Project Parties and Participating Interests
West Pilbara - Red Hill Iron Ore Project Australian Premium Iron 60% earning up to 80%
Red Hill Iron Limited 40% reducing to 20%
West Pilbara - Mt Stuart Iron Ore Project Australian Premium Iron 70%
Cullen Resources Limited 30%
Mt Elvire Iron Ore Project Australian Premium Iron
DeBeers 100%
Royalty
West Pilbara - Yalleen Iron Ore Project Australian Premium Iron 70%
Helix Resources Limited 30%
The West Pilbara Iron Ore Project Stage 1 includes deposits encompassed within the West Pilbara - Mt Stuart Iron Ore Joint Venture with Cullen Exploration Pty Ltd and the West Pilbara - Red Hill Iron Ore Joint Venture with Red Hill Iron Limited.
Anyone looked at Cullen (CUL) - lot of other projects other than the JV.
With regard to Helix/Yallen - it can either wait (2015 and beyond) to start getting some cash from the project or get paid out $40m - $80m (seems to be a big variation there) assuming API are prepared to buy them out.
Given the MC is around $13m a $40m pay out would be attractive I would have thought? In saying that the valuation on the Helix site valuing the share at $1.16 uses a PV OF $173M - with production starting in 2014 going to 2025, seems way too optimistic to me.
Anyway just some thoughts- I don't hold but am interested in a position. HLX up 6% today on the Olary results.
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 --- will boom on good volume
Yes HLX now up 12% on mid 400k volume(HLX is a very low volume traded share biggest days since DEC10 only round 1mill)
-I'm no Geo but Olary result look very good 124m@31%FefromSurface 140m@30%Fe from4m
-right next door HAV have a 147mt 30%Fe JORC
----about HAV-----
Havilah’s 100% owned Maldorky iron ore deposit contains a JORC Indicated Resource of 147.8 Mt of 30% Fe (18% Fe cut‐off grade). It is a flat, shallow orebody exploitable via a simple open pit mine. The ore is readily upgradeable to a premium grade magnetite‐rich product containing very low levels of impurity elements. It is located only 26km from a railway line that links to South Australia’s main ports.
Havilah Resources is pleased to announce that it has signed non‐binding Memorandum of Understanding (MOU) with Hunan Valin Liangang Import and Export Co., Ltd and Zoomlion Material Handling Equipment Co., Ltd
So if HLX do have a similar resource to HAV which we will know in time I'm sure HAV/HLX could work together with the Chinese.
next couple weeks
-Restdown resource ann.(not likely to be anything stunning but give us a idea on potential)
- Joshua copper project Chile last 3 hole assays (hope to see .50%++ copper grades over very fat widths)
--------------------------Another project market values $0------------------------
Tunkillia Gold Project
EL 4495, 4596, ELA 183/2010 Minotaur 54.65%; Helix Resources 45.35% diluting
Planning is advanced to undertake biogeochemical sampling surveys across key structures within EL 4495 and 4596 once access approvals under a DEF are forthcoming. Similar surveys are planned along the Yarlbrinda Shear Zone once ELA 183/2010 is granted. Following highly encouraging laboratory studies by CSIRO on the technical viability of in-place extraction of oxide gold, discussion are underway with CSIRO on a range of field trials to document porosity, permeability and hydrological characteristics of the Tunkillia oxide deposit. The CSIRO report, being a multi-client research report, is presently under a confidentiality embargo.
Last edited by JBmurc; 15-08-2011 at 05:07 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
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Junior Member
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 Originally Posted by roniirani
well it's a start how much it grow will be the key 500koz JORC would be a nice size for a nearby producer
Also HLX still holds 4 million GCY shares worth 1.1mill+ AUD
If HLX distrubuted to shareholders at 51 HLX shares to one free GCY share value wise it would be like getting a 6-7% divie
Last edited by JBmurc; 17-08-2011 at 01:24 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
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Ask greg round the rest of the gcy holding an the bullish outlook for hlx
Jbmurc
Thanks for the email and comments. We are very pleased with progress on a number of our mineral assets.
We consider GCY a core holding for HLX at this stage and have already distributed 80% of the GCY shares to HLX shareholders.
With +$4.5M cash and investments, the EV for our mineral assets is about $9M, which compares to the in-ground value of the mineral inventory we are entitled to being +$3,000M. At some point we expect the market to recognise the quality of our assets and re-rate the share price.
Regards
Greg J Wheeler FCA; SF Fin; G.AICD
Executive Chairman
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worth keeping an eye on the HLX depth any decnt buying is going see us over 10c quick smart
Last edited by JBmurc; 17-08-2011 at 02:10 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
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checkout the HLX depth outside the must sell now 7.5c HLX has weak sellers
I still believe HLX to be one of the most undervalued explorers on the ASX...with the latest updates an e-mail's I have recieved from GJW....Currently HLX have 4.5mill in cash+recieveables 13mill market cap so a E.V of 8.5mill for that you get
--GOLD--interests
-Restdown has 100k JORC resource
Detailed aeromagnetic survey (50m lined spacing) highlights a large zone of interest (9km wide by +20km long) and geochemistry is identifying multiple target areas for drilling to increase the above JORC
-Tunkillia-Gold 800koz JORC (46% hlx duluting)
-NSW-VMS targets tobe drilled
-Talca Gold Project-chile-(hopefully drilling this year if can secure a RC rig)....
-GCY-4 mill shares
---IRON ORE----
-Yalleen 84.3mt 57% fe (30%) likely to be sold 40m-80m
-Olary -good drilling results on par with nearby peers within the area HLX looks to have Iron ore discovery how big is yet to be known IMHO it could well be as big as Yalleen. 70-80mt 30% fe.
---COPPER/gold-------
-Canbelego JV (51%) 1.5mt 1.3% cu -
-Joshua Copper Project? Chile (100%)
o Mineralised copper porphyry system confirmed from maiden drilling, results include:-o 156m @ 0.20% Cu + 0.1g/t Au from surface
o 147m @ 0.22% Cu + 0.1g/t Au from surface
-Loa Project Chile- ? Targeting Cu porphyry systems. Licence 23,400Ha situated ?40km west of the Chucquicamata Copper Mine and 40km along strike N of Spence Copper Mine in Region II
Last edited by JBmurc; 17-08-2011 at 03:20 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
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HLX - December Quarterly
http://stocknessmonster.com/news-ite...E=ASX&N=574563
MCap ~$12m, Cash/Investments ~$4m, = Low EV of approx $8m
Re the 45% owned Tunkillia Gold JV project with ASX:MEP, ASX:MUX has purchased the MEP interest, of note is that MUX is ~62% owned by KZL
MUX has a large JORC Copper, Gold & Silver resource (Cu= 225kt, Au= 2.5m/oz, Ag= 32m/oz) excluding the Tunkillia resource
Of course the main value driver in HLX remains its 30% JV interest in the Yalleen Iron Ore project
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