Ann: $13m equity raising to accelerate Cobar copper discovery, page-13

Wow! I was expecting a $3 - 5 mio raise. This is a surprise $13 mio is a big lick for a Co of HLX's size with a market cap of only $20 mio pre raise. Many will criticise the dilution however IMO overall the big raise is a positive as finally HLX will be able to drill aggressively without always worrying about where the money is coming from - for 20 years they have had some of the best ground in Australia but have been moribund, totally limited by finances to drilling just a few thousand metres per year.

Let's hope this $13 mio results in significant drilling success and very meaningful Cu/Au resource growth.

Onwards and upwards for HLX!

GLTA & DYOR