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HELIX RESOURCES LIMITED - ASX: HLX
The data on Australian Shares.com is intended as a guide only and is compiled from information in the public domain. Data on this website should not be used to make an investment or trading decision.
Description
Helix Resources Limited (ASX Code:HLX) was listed on the Australian Stock Exchange [ASX] in 1986 and is focused on acquiring and developing assets within the bulk commodities, base metals and precious metals sectors.
Helix’s most significant development asset is the Yalleen Iron Ore Project joint ventured with API Management Pty Ltd (50% Aquila Resources, 50% AMCI) situated in the Robe Valley in the West Pilbara region of Western Australia. The project has an inferred and indicated resource estimate of 84.3Mt channel iron ore with exploration upside. Helix released a scoping study on Yalleen development 17 August 2010 which was positive. The preliminary economic evaluation indicated post tax NPV range of $900M to $1,100M with two potential infrastructure solutions for transporting ore to customers. Helix is contributing 30% of funding and recognises the benefits of a partnership with a focused, well funded project manager and JV partner to advance this project.
During 2009/10 The Company has accumulated significant landholdings in the Cobar/Girilambone region of NSW prospective for gold and copper with operating mines with excess capacity and excellent infrastructure. Drilling copper and gold targets will be the Company's main exploration focus during 2010.
During 2010 Helix has gained exposure to Chile with a dedicated in-country General Manager and Geologist targeting prospective gold and copper regions. The company is accumulating tenements in its own right as well as Joint Ventures.
Helix also has exposure to 0.8M oz of gold at the Tunkillia JV in South Australia, exposure to magnetite via the Bonython Metals Group Olary JV and has acquired significant landholdings in the Eastern succession of the Mt Isa region in Queensland.
Helix has sufficient funds to carry out its exploration and development programs, whilst maintaining a watching brief on acquisition opportunities that may arise in 2010/2011.
Mine For
gold, lead, silver, zinc, copper, nickel, platinum, iron ore
Location of operation(s)
South Australia, Western Australia, Queensland, New South Wales, Chile
Address
Suite 7, 29 Ord St
WEST PERTH, WA, AUSTRALIA
Phone
(08) 9321 2644
Website
Last Updated
5/4/2011
The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.
