Hi
@La Tache
I also feel you’re on the money regarding HLX’s recent commentary for Collerina being akin to before other significant finds, Degussa (SFR) etc.
Check this out; bit by bit it's clear that since October, Mr Creasey’s rare interview surrounding the discovery that they want to get this right and have narrowed in on that DHEM which to me looks so close now and they can go for the potential big money shot.
November 8th - initial results and new DHEM - “This newly modelled EM conductor plate sits within the dip-plane target zone, has a conductance similar to the central zone mineralisation at 150-200 Siemens and importantly remains open up plunge, down plunge and down dip”.
So, this was only really found in that October/November period and they started one-hole testing down plunge around the 8th of November.
November 24th - an unsolicited approach for at market price capital. Personally I think that some very close watchful eyes participated in this raise as they could for one see the kitty needed filling and secondly knew their close to a probable resource below the central zone.
This commentary followed: Key words being expand exploration program so clearly the time between 8th and 24th they believed it was warranted to conduct further drilling and DHEM which demonstrates narrowing in on the goods, otherwise why continue let alone expand?
My thinking is this programme expansion would not have happened until mid-December at the earliest, to allow the funds to be cleared and planning/approvals etc, to be sorted. Then we had Christmas break so really, I think they may have started this before Christmas but still ongoing now. Interestingly a large record volume spike in HLX occurred around Christmas / the new year period.
“The placement funds allow Helix to accelerate its current exploration strategy at the Collerina Copper Project in Central NSW. The exploration program is designed to demonstrate that economic copper grades previously encountered in the Central Zone of the Collerina Copper Deposit continue at depth, and that potential contained copper tonnages are of a scale that could sustain a stand alone mining operation. Helix plans to expand the exploration program at the Collerina Copper Deposit, allowing it to continue to drill test recent Down Hole Electro Magnetic (DHEM) conductor positions modelled in the dip plane of the Central Zone. Regional prospects identified along the Collerina Copper Trend may also be tested with initial Reverse Circular (RC) drilling and geophysical surveys.”
The facts are this company has worked hard for years and is close to its glory time, with more exploration than it has seen in years and it’s all happening near term.
You can pick them up for an attractive valuation at the moment.
but more drilling should achieve that. We'll just have to be patient ...
(20min delay)