I am not sure how the Acta bid can fail? They can just keep buying on market at $0.004 or $0.005 to get to where they want. There are lots of people who see a limited future and are willing to get out. Actions speak louder than words. Moving to WA is moving to WA. The project looks OK and is in an area of known copper deposits. The same can be said for the NSW assets. Helix has been looking in NSW for a few years so going elsewhere indicates they see a limited future in NSW. Acta can reasonably ask for one director but asking for three is a naked grab for control without owning anywhere near half the company.
HLX Price at posting:
0.4¢ Sentiment: None Disclosure: Held
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