Ann: NSW Project Update, page-53

310463...

"It seems like a no-brainer at this point in time with the SP being where it is, and the potential. The risk of not taking up the entitlement (and missing out a SP over 0.07) is greater than the risk that the SP will fall below 0.07."


Yes given most half-hearted explorers can manage a Mkt Cap in the $15 or $20mil area and any explorer with half decent targets and a drilling programme is in the +$30mil Mkt Cap area. HLX should be pushing 3.5c post rights issue as it has both targets and a programme.

7c is a fairly modest Mkt Cap if it follows up with results at the Gold Prospects as to date, the drilling indicates a substantial amount of gold over a fairly decent expanse ................ it isn't just a lone quartz reef with a bit of gold shining in the sun.

Perhaps they will finally accurately work out the structural geology of Collerina to hit some decent market exciting intercepts as well.

Not sure why anybody would be selling until it has had a post issue run.




MI