Cobar gold !, page-50

Thanks Pushhi - but the elephant in the room to me is what in the name of goodness Helix is doing with our gold assets?! Or indeed any of our assets??!!

The continued lack of activity, coupled with ongoing lack of communication to shareholders is disgraceful, especially given:

• the excellent prospectivity of our gold assets; and
• the very strong AU$ gold price.

And to think I sold my ALK at ˜22c and added to my already significant HLX holdings. I trusted Helix management to properly manage our asset portfolio. Specifically, I assumed we would get after the gold assets, aided by a farmout, partial sale or whatever it took. Sure, we needed to pursue our copper assets, too, but we need to be able to walk and chew gum at the same time. Yet nothing has been achieved for a long, long time with our gold assets. This is quite extraordinary given their prospectivity.

A value-adding outcome (not just wheel-spinning) should have been concluded in the last 12 months! Frankly, IMO, if Helix can't develop a plan to extract shareholder value from those assets in the very near future, we should either:

• float them off (with a Board that has a 'go-getter' as MD); or
• bring a 'go-getter' into Helix and put him/her in charge of the opportunity, with a suitably structured rem. package that rewards outcomes that add shareholder value.

I defended Helix's management for a long time until ~mid 2018, urging patience in the hope that the addition of 2 new well-regarded Directors could get things moving. However even though I like those Directors, I'm now sorry (in late Q3 2019) that I may have helped to shelter Helix's management from due criticism for inaction.

Helix's assets are very good but, IMO, a significant change of approach is needed so that shareholder value is restored.