May 05, 2022 / 04:30AM GMT
Mike Rosenstreich - Helix Resources Limited - Managing Director, Geologist
Helix Resources is in the process of closing a capital raising for $13 million. It gives us a large stake to go all in on finding more high-grade copper in the Cobar area in Central New South Wales. And that's what I'll be talking about this afternoon.
$11 million of that $13 million raise is a placement that went predominantly to institutions.
And the aspects that captured the imagination and the interest of those instos was our strategic land position, over 2,000 square kilometers in that greater Cobar Basin area. They recognize that we've got two existing copper resources: the CZ deposit and the Canbelego deposit. And they saw the potential for us to grow those resource areas as well as the numerous prospects that we have on several mineralized trends that we've defined. They also understand the infrastructure-rich nature of the neighborhood in which we're operating and the very significant mining operations that are there and that have operated for a long period of time.
Being so well capitalized
Helix Resources Ltd at Vertical Events RIU Sydney Resources Round-Up Transcript
May 05, 2022
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