I wouldn't read too much into AIS opting to cease contributing its share of Canbelego JV expenditure and to dilute its JV interest. AIS is under financial pressure at present and recently accepted a financing facility from its major shareholder (SOL) on very expensive terms. IMO they will be totally focused on preserving cash in the short to medium term, hence their decision to dilute. Having said this, as I posted a few months ago Canbelego, whilst an attractive Cu deposit, does not currently look like a company maker - it's not big enough. So, unless HLX can dramatically increase the deposit's size, HLX will need to find another (hopefully significantly larger) deposit to add critical mass for future development.
GLTA & DYOR
HLX Price at posting:
0.6¢ Sentiment: Hold Disclosure: Held
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