what's the deal?, page-2

You are correct

Unnoticed, unloved and underappreciated.

Cash alone at 31/12 was worth 4.5m or 3c per share, with zero debt.

Therefore the remainder of this company is worth 9c....certainly not...!!

Its 30% interest in the Yallen JV is likely to be worth something to the API JV (at some point you would have to think the ownership structure would all get tidied up). this could be owrth quite a bit to HLX...A buyout of their share is always possible in the clean-up...

Its 46% ownership in 800000 oz AU and 1.6m Ag with MTR, must also be owrth something....I expect that there may be further exploration upside here in 2011 as there hasnt been any for a while.....chance of further upside here....

the copper at Canbelego is small but exploration has just started...

and, South America is the new frontier for them...


This is an asset story which has been building for some time......

Yes, it has gone under the radar and has not been in control of its own destiny....

But 2011 could see much of this unravel...

furthermore, the options expiring in May 2011 are 5c to pay and will likely bring in 52m x .05 = $2.5m+

dont be surprised to see further news on this stock in coming months which will draw attention to it...

Keep in mind also that it is relatively tightly held and can trade up very quickly

My opinion is that the 30% interest in the JV could be worth 20-30c per share....

This could be one of those companies which makes an announcement one day that it has sold an asset such as this for way beyond what the market expects...

Therefore...the shareprice would simply have a huge gap up....thereby giving no chance for accumulation.....

Regards