Helix Resources Ltd (ASX: HLX) announced the completion of its renounceable rights issue and shortfall offer, initially announced on August 12, 2025. Helix Resources is an ASX-listed resources company exploring for copper and gold in Arizona, USA, and the copper-producing regions of Cobar, NSW. The company possesses a significant ground position near major copper and gold operations. The Rights Issue, which closed on September 3, 2025, was significantly oversubscribed, raising approximately $1.7 million before costs, through the issue of 1,682,096,840 new shares at $0.001 each and 841,048,420 new options exercisable at $0.002 each, expiring on September 10, 2027.
To accommodate excess demand from existing shareholders and new investors, Helix Resources has agreed to a private placement to raise an additional $300,000. The placement will be on the same terms as the Rights Issue, with an offer price of $0.001 per share to unrelated professional and sophisticated investors. This follow-on placement will involve issuing 300,000,000 new shares and 150,000,000 new options, utilising the company’s existing placement capacity under Listing Rule 7.1. Subject to ASX conditions, the options issued under both the Rights Issue and the follow-on placement will be quoted under the ASX code HLXOA.
Following the completion of the follow-on placement, the total amount raised through both initiatives will be $1,982,097 before costs. These funds are earmarked for drilling the White Hills copper-gold project, undertaking Gold Basin mineral resource estimation programs, and covering general working capital and associated costs. Mahe Capital Pty Ltd acted as Lead Manager and Underwriter to the Rights Issue. In addition to the 67,263,880 options issued to Mahe Capital, the company has agreed to issue up to 12,000,000 options to Mahe Capital as advisory service consideration, subject to shareholder approval.
Executive Chairman Michael Povey expressed gratitude for shareholder support, stating the funds would help further develop the White Hills and Gold Basin projects. The company noted the ASX release was authorised by the Board of Directors.
