G'day
@11up. I've
pretty well stopped posting unless Helix gets a move on and develops its potential more effectively. I still love the acreage - from Collerina through to the exploration acreage that you and especially
@1ForDaMoney have so ably referred to - and the sector has a very good outlook too - but ....
I'm
very disappointed at the rate at which things are taking place - IMO everything is happening way too slowly. So, while I see immense potential, I've currently fallen out of love because of painfully slow activity.
You can't make discoveries without drilling - and there's nowhere near enough of that happening, IMO.
What I regard as insufficient activity seems to get justified on the basis of not having enough $ but
if the story was well promoted then the share price would be higher (with both more buyers and less sellers), so we could raise more $ for drilling, with less dilution. And if our acreage is as good as we believe - and there's much to suggest that it is - then we'd make more
good discoveries, which is what it's all about for exploration stocks. It's not rocket science. Sure, the small end of the market is flaky but
we are nowhere near our potential, IMO.
The inevitable frustration, explains to me the negative tone of many posts about Helix, despite its bagger potential. Frustration + lost opportunity + unmet, raised expectations has flattened my overall enthusiasm - even though, I repeat, I think
the acreage has tremendous potential and the sector is good, too.
All that said, they
must do the JORC assessment properly, and not rush it out because the original company imposed date for releasing it, was never realistic!! Even with my limited knowledge, I was pretty sure from the first announcement mid last year that a meaningful JORC number would take well into 2019 given the incomplete state of Collerina appraisal and the then drilling rate. Worse, the drilling rate since then was even slower than I feared, so the end 2018 date simply had to be extended.
That being so, I wish shareholders had been told that in good time, and why it was necessary, rather than having the date slip by, to get reset after the period had elapsed. The extension didn't both me - it was necessary - but the
disclosure lapse really put me off. All that was needed was one thoughtful letter to shareholders / ASX release.
Our recently arrived
Chairman, Peter Lester, has a well-earned reputation for high performance, and has loads of relevant experience, so I expect the JORC report will now be completed the way it should be, taking as long as it takes. (In closing, I want to make it very clear that I am in no way suggesting the earlier date issue was the fault of the outgoing Chairman).
(20min delay)