The small exploration stocks are totally driven by drill results - good results, share price goes up, bad or average results, share price stagnates or goes down - simple. HLX had some terrific results, the price rocketed higher and since then it has slowly retraced as more recent drill results have not been as good. It's not rocket science. So IMO the general guiding principles should be (i) try to buy in reasonably early on initial drill success before the price rises too much and (ii) take money off the table if the price rallies very strongly as often there is a pullback if subsequent drill results are delayed or not as good.
Finally, HLX is drilling Collerina now which IMO is their best project. IMO they continue to offer an attractive risk/reward scenario as their market cap is only $27 million and they have very prospective ground in the Cobar region.
Onwards and upwards for HLX!
GLTA & DYOR
Ann: Exploration Update, page-39
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Last
0.5¢ |
Change
0.001(11.1%) |
Mkt cap ! $16.32M | |||
| Open | High | Low | Value | Volume |
| 0.5¢ | 0.5¢ | 0.4¢ | $152.8K | 30.64M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 16 | 44658832 | 0.4¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.5¢ | 10375748 | 10 |
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| Last trade - 15.32pm 02/09/2024 (20 minute delay) ? |
| HLX (ASX) Chart |