HLX - uranium and gold

[percy]

Been a long time since anybody has posted on this thread.
Just getting myself organised to take up the options in the capital raising to continue exploration activities.Price is $0.025 per option.Exercisible at $0.015 on or before 30th September 2014.Will apply for additional options.

[Damo79]

I lost money on this previously, but was back in below 4 cents. They don't seem to accomplish much, but have in ground assets that makes the current market cap seem silly. Anyway, thought I'd bump the thread up since they jumped 50% today (on tiny volume) in case somethings actually up.

PS. this is gonna be good for my trading comp stats

[Entrep]

Something about a Mitsubishi investment... or so I read on HC

[JBmurc]

If the below sale completes HLX will command 4.2-4.5c in cash backing .....I'm happy paying the same for the shares

OLARY MAGNETITE PROJECT SOLD FOR
development of projects in Australia and Chile
$4.75M AND 1% FOB ROYALTY
Funding partners’ Lodestone Equities Ltd have purchased Helix’s remaining 50% interest in Olary Magnetite Pty Ltd, whose sole asset is the Olary Magnetite Project (EL3956 and EL4022) in South Australia, for $4.75M cash and a 1% FOB Royalty. Lodestone now hold 100% of the Project.
The Sale agreement no longer requires Helix to define a maiden JORC resource for the Project, and Helix is continuing to support Lodestone by providing in-field technical assistance and receives a management fee while we complete the Lodestone funded 12,000m drilling program.

[JBmurc]

MMmmmm interesting.....hoping this is a mother lode of a Copper discovery

[JBmurc]

Trying to buy more today but sellers running away ...got a good feeling bout hlx going forward ...
Good cash backing ,,tightly held shares outside the small traders
Major jv ..... diverse investment scope ....mgmt have large amounts invested

[JBmurc]

Looking forward to the next few anns.....the trading in HLX of late just shows how tight HLX is held with such small amount up for sale
huge gaps through the depth .....If this comes together it has all the makings of a 10 bagger ....
was gutted to not have got the HLXO at .045 today wanted to buy them but bloody smart phone/E*trade didn't want the trade to work
hoping to get a few more ......anyone else interested in HLX at the mo.... if not just read below then read a recent presentation \report on HLX assets ...E.V= is peanuts........very under the radar /unloved by the market...

BLANCO Y NEGRO - CHILE
Maiden diamond drill hole at the Blanco Y Negro Mine Prospect intersected 19.45m @ 2.04% Cu, 1.06g/t Au and 550ppm Mo from 85.05m in DDHHU-001. The drilling confirms the presence of high grade copper and associated gold and molybdenum in a zone of brecciation and veining hosted in andesitic volcanics with a strike exceeding 500m. This result confirms the prospectivity of the target in a region with good infrastructure.
Downhole geophysics (EM) will be undertaken in DDHHU-001 to isolate off-hole massive sulphide conductors with the mineralised intercept including a 0.45m zone of massive chalcopyrite, chalcocite and pyrite zone returning 17.21% Cu, 10.43g/t Au and 5341ppm Mo. Artisanal workings and sub-cropping gossan on mineralised structures have been mapped over +500m of strike (refer Figure 2). An additional 2,000m of drilling is being prioritised and expected to commence next month to assist in defining the potential strike and the down dip extent of mineralisation.
DDHHU-002 located east of the main high-grade target zone was drilled to intersect a chargeable IP anomaly at depth. The hole intersected a pyrite–rich brecciated intrusive with the best gold result of 4m @ 0.4g/t Au from 14m and anomalous copper up to 0.46% Cu returned from 2m sampling.
JOSHUA MOU UPDATE
Helix has let lapse the Memorandum of Understanding [MoU] entered into with Mitsubishi in October 2012 regarding the Joshua Copper Project on the basis Restdown Gold JV (70%) Mitsubishi has been unable to complete its due diligence procedures and sign the Binding Agreement within the agreed timetable. Mitsubishi have indicated they are well advanced with their due diligence procedures and remain interested in concluding a deal acceptable to both parties. Helix will recommence discussions with several other interested 3rd parties that have approached the Company looking for copper exposure in Chile, whilst concurrently planning to undertake a ±800m diamond drill program at Target 4. Target 4 is located 1 km E of Target 1 drilling and is considered part of the large 10km2 porphyry system being targeted.

[JBmurc]

--Research report out--

http://www.helix.net.au/aurora/asset...5March2013.pdf


buying HLXO selling HLXlike the increased leverage

[JBmurc]

Happy to have come home on friday to see my HLX sold @ 6.5c and just now get my fill of HLXO 4.5c (1.5 ex price 2014) now bring on the
News on upcoming drill program's

[JBmurc]

Current HLX story:

On March 7, Helix announced they drilled maiden holes at their Blanco Y Negro prospect in Chile, one of which intercepted a shear-hosted brecciated vein from an intrusive source which returned 19.45m@2.04% Cu, 1.06g/t Au and 550ppm Mo from 88m (DD-001). The news of that result produced a profitable trade with share price spiking from 4c to a peak of 9.5c intraday, before closing at 6.4c.

There is a good probability that an even more profitable trade is about to unfold within a favourable risk/reward balance.

Currently Helix are conducting a downhole electromagnetic survey (DHEM) on hole DD-001, with a view to define conductive targets prospective for massive sulphide mineralisation. A proposed 2000m drilling campaign to test those targets is due to be announced very shortly. Within the 19.45 mineralised intercept in DD-001 there is a small zone of massive sulphides (mostly chalcocite with pyrite) that returned very high grades of 17.21% Cu, 10.43g/t Au and 5341ppm Mo over 45cm. That high grade zone is right at the very downhole end of the larger reported intercept.

Referring to the figure below, DD-001 intercepted a NW/SE striking vein, dipping at about 45 degrees to the SW, mineralised over a true width of some 16m. The mineralisation extends to surface where oxide ore has been exploited by artisanal miners at between 1 - 2 %Cu. Cu and Au grades are depicted separately by the purple histograms with peak grades occurring immediately above where the hole intercepts the footwall of the vein.



It is postulated here that the very high grade zone has been formed by supergene enrichment by reducing conditions at the water table. Therefore it most likely sits as a tabular flat-lying body constrained by the hanging-wall and footwall of the host vein. The schematic of drill hole DD-001 above suggests that the drill bit clipped the high grade supergene zone (over 45cm), just before it exits the host vein. Evidence for this is supported by the drill core, which shows predominately massive chalcocite (Cu2S, dark grey), which is common to supergene enrichment of copper deposits, abruptly ending to transition into relatively unaltered and unmineralised andesitic volcanics (refer image below).



Therefore, the whole extent of the supergene zone hosting the very high grades is currently unknown. It is anticipated that the drilling about to be announced will target such high grade zones to determine at least their vertical and possibly lateral extents along strike. Furthermore, as the supergene zone is flat lying, it may be targeted by directing holes oblique to the dip of the vein, thereby intercepting much vein mineralisation in their progress.

So, given that the discovery of the supergene zone over 45cm in DD-001 is unlikely to be representative of its complete vertical extent, a trade possibility presents itself if high grade zones are well defined by the EM and drilling intercepts them again with larger widths, possibly many times larger, and also possibly in multiple holes.

Trade considerations:

It is anticipated that if the exploration unfolds in line with the above; over the duration that drilling is announced, if mineralisation is reported from visual examination of core, and up until the day assay results are released, share price may run. Naturally, as more unknowns are known then risk decreases at a technical level. But anticipation of success may cause price to get a little frothy in the process, leaving more downside if there is a failure at some point. The company has other assets to support price at current levels. These include the primary asset; the large Joshua copper porphyry project in Chile, which has been subject to ongoing JV discussions with Mitsubishi. Other assets include 30% of Yalleen - 50Mt @ 57% Fe, and 30% of Tunkillia - 1Moz AuEq (1 g/t).

Market cap - $11m (undiluted) @ 5.5c
Cash - $4m (Dec qtrly).
Speculative short term target MC on bonanza grades - $50m