🕐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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