who wants to make buckets of money in august..

Check this out the sky,s the limit for this one get on it or miss out it,s that simple and buy it for a discount ATM but not for long just watch this baby fly this week GAME ON...............


OK fellow conspiracy theorists.
Can anybody help me out in regard to my previous post concerning our new significant shareholder?
Have finally got my ASX link to function again today and after discovering that my #6 CUL shareholder is actually now the #1 CUL shareholder bar this difference-

Wythenshawe #6 CUL holder 2003/4
Wynthenshaw #1 CUL present



Have read all the CUL announcements from 2003 to try and find a 'ceasing to be significant shareholder' notice or similiar and didn't find anything, so I guess its one and the same company?

Anyhoo - considering the # of shares that CUL's executive director Mr Graham Hamilton holds, then HE is Wynthenshaw P/Ltd

So getting around to my HLX related point.

Crunching some numbers today in relation to the fellow API JV peers Red Hill Iron and Cullen Resources I see that HLX is getting very little love atm.

Hoping not to breach any YT copyright-

RHI
40 Million shares @ $2.30 = 92 mil MC
20% of 130MT @ 58.5% Fe = 15.79MT of Fe
EV = $5.82 Fe/T

CUL
475 M shares @ 10.5c = 49.8 mil MC
30% of 68MT @ 56% Fe = 11.4 MT of Fe
EV = $4.37 Fe/T *

*Considering RHI's cash position I think a $1.50 premium is fair enough

Now if we only look @ HLX's 'Kumina Creek' target and the conservatively stated >100 MT @ between 57% and 60% Fe.

HLX
114 M shares @ 21.5c = 24.5 mil MC
30% of 100MT @ 57% Fe = 17.1 MT of Fe
EV = $1.43 Fe/T

If we were to use CUL's implied value per ton then we arrive @ $74,727,000 or 65c per share.

In regard to the Au, if we halve someone like NAV's MC than

Conservatively its gotta be worth another 8 - 10c (as per our friends A1)

Reading between the lines after Mr CUL's recent 9,000,000 FPO gobble. I'm wondering if the API PFS due this quarter will contain the 'Kumina Creek' JORC of at least the dimensions used in my calc?

Go HLX