They had to not proceed with the WA project acquisition, as the investment they were originally agreeing to, changed substantially materially and not in HLX’s favour. So, yes I do agree as a shareholder that if the agreement terms change and are unfavourable to shareholders and there holding value then not to proceed with that project acquisition. I don’t agree with the agreed HLX implementation, as that is showing that they are forcing there weak hand and demonstrating there limited ability/capability of there skills sets.
The SP will probably go to .005c, due to the small raise of premium being raised by HLX from Povey.
HLX Price at posting:
0.4¢ Sentiment: Buy Disclosure: Held
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