Ann: Renounceable Rights Issue To Raise Up To $2.3 Million, page-26

Some on here IMO have no idea what they are talking about. Explorers like HLX raise funds, explore and then raise funds again and explore again. 90% of the time they don't hit the big prize, the money is spent, the prize is not found, more funda are required, shareholders get diluted and the process starts again. This is the nature of exploration co's. If you don't like this risk versus reward scenario, I suggest that you invest in a different kind of company with possibly a lower risk profile. It not MR's (or managements') fault that they haven't hit the big prize - they are diligently trying. It's simply that economical Cu and Au deposits are not that easy to find - if they were easy to find Cu would be USD 0.30/lb (not USD 4.00/lb) and gold would be USD 100/oz (not USD 3,000/oz). It's not rocket science!

I will continue to back HLX in full knowledge that this new raise may again fail to deliver the goods - this is the nature of exploration and it's a risk that I'm prepared to take. If you don't want the considerable investment risk associated with exploration co's like HLX I suggest that you invest in a different asset class with a more suitable i.e. lower risk profile.

GLTA & DYOR