G'day uphillnowExplorers have to explore!I think HLX has only...

G'day uphillnow

Explorers have to explore!

I think HLX has only 424 million shares on issue – after being listed in the 1980s. I used to think that was a badge of honour – but not any more. Here's why …

There have been numerous company-making opportunities over the last 30+ years for an explorer with talented staff (as Helix has). Since exploration involves putting $ in the ground, there will always be a need to issue more stock until you hit the jackpot. That's the nature of the business; you've got to be in it to win it.

Let's not waste our potential

Helix has had some great results – with its gold acreage and the copper acreage, but recently hasn't been anywhere near active enough, IMO. For example, as per @marc's recent post, who would have thought we would have done nothing with our gold acreage with the $AU gold price > $2000?!

It's infuriating to have talented exploration staff and so many high potential assets and then not to do enough exploration. It doesn't help shareholders in the long run because $ still get chewed up in management salaries, ASX listing fees and other corporate expenses.

Fortune favours the brave …

Another explorer that I've been involved with for years recently made a crucial personnel change after a period of underactivity, and got after a new gold project that others had sat on for years. The stock has almost 4 bagged within as many months!

The current shackles must be released at Helix – well before the forthcoming AGM, IMO. As Jon English sung, "words are not enough …"