Ann: Intention to Make Takeover Bid, page-22

How can you not be impressed by the wording of this partial takeover offer.

Acknowledging the intrinsic risks of exploration, Michael Povey tells us he has 'significant mining success' (didn't know there was anything to mine yet) would have been more thrilled if the words said 'significant exploration success', a real plus in an exploration company.

So for me a deluded punter in an exploration companies, Michael is asking me to sell all/some of shares to him so that he can own 32% of the company which I will take a bath on, because he has some exceptional insight into the exploration properties Helix holds all the way from Perth ('trust me, its all good' was the technical exploration insight I took from the partial takeover offer provided by Michael).

Then when he runs out of money because none of this '25% money' has been used to progress exploration, just pay mug punters like me so I feel like I had a win (but didn't), then the inevitable cash raise at a discount to the share price so I can be further diluted down- exceptional opportunity, so kind of you (LOL).

Now if Michael had of offered Helix a cash raise of new money at $0.05 to fund exploration in return for some Board seats and management positions and this money went into exploration then I would elevate Michael to top of the totem pole. I still get diluted but we get Michael's wonderful skill set and $ to explore- sign me up.