🕐26.08.10 - 05:54 Uhr
RB Milestone initiating coverage on Helix Resources with target price of $0.95
Helix Resources Limited
ASX Announcement
26 August 2010
RB Milestone initiating coverage on Helix Resources with target price of
$0.95
Helix is pleased to report that RB Milestone Group, LLC ("RB Milestone"),
initiated coverage of Helix with a research report about the company with a
12 month target price of $0.95.
To view the full report please click on this link.
http://esp.gewru.com/download/files/12414/1234105/Helix%20Resources%20Limited%20_ASX-HLX__25th%20August%202010.pdf
As with all analyst reports, this document contains estimates and forecasts
prepared by the researcher, extrapolated from information on the Company
already in the public domain.
Such forecast does not represent guidance
issued by the Company.
For further information please contact:
Greg Wheeler
Managing Director
Helix Resources Ltd
Tel: +61 8 9321 2644
Karen Oswald
Professional Public Relations
Tel: 61 8 9388 0944/ 0423 602 353
Email:
About Helix Resources Limited
Helix Resources Limited was listed on the Australian Stock Exchange in 1986
and is focused on acquiring and developing assets within the bulk
commodities, base metals and precious metals sectors in Australia.
The Helix strategy is:
- Acquire large tenement holdings in the prospective exploration regions
- Use of leading edge exploration methodologies and techniques under the
guidance of a skilled Board and Management team
- Create shareholder wealth whilst managing risks
Helixs most significant development asset is the Yalleen Iron Ore Project
joint ventured with API Management Pty Ltd (50% Aquila Resources, 50% AMCI)
situated in the Robe Valley in the West Pilbara region of Western
Australia.
The project has an inferred and indicated resource estimate of
84.3Mt channel iron ore with exploration upside.
Helix is contributing 30%
of funding and recognises the benefits of a partnership with a focused,
well funded project manager and JV partner to advance this project.
Helix also has exposure to 0.8 Million oz of gold at the Tunkillia JV in
South Australia, being managed and funded by Minotaur Exploration.
During 2009 the Company has accumulated significant landholdings in the
Cobar/Girilambone region of NSW and the Eastern succession of the Mt Isa
region in QLD.
Both areas are prospective for gold and copper with
operating mines and nearby infrastructure.
Copper and gold targets in the
Cobar/Girilambone region will be the Companys main exploration focus in
2010.
Details on the JORC resource estimation process is outlined at
www.helix.net.au.
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