Helix Resources Ltd (ASX: HLX) has announced the successful completion of a significant placement, raising $668,286. The company, an ASX-listed resources firm which is exploring for copper and gold in Arizona USA and in the copper producing regions of Cobar, NSW, possesses a sizable ground position located proximal to significant copper and gold producing operations. This capital infusion is earmarked to bolster its ongoing exploration and development initiatives across its diverse project portfolio.
The placement involved the issuance of 534,629,052 new fully paid ordinary shares. These shares were priced at $0.00125 each, with the transaction facilitated through CPS Capital Group Pty Ltd. Helix Resources confirmed that the capital raise was conducted utilising the Company’s existing placement capacity as stipulated under ASX Listing Rule 7.1A, ensuring adherence to regulatory requirements and efficient execution of the funding round.
The funds secured will support Helix’s continued focus on its exploration endeavours in key regions. In the United States, the company is active with its White Hills Copper-Gold Project in Arizona, a joint venture with Newmont, alongside its Gold Basin project where it holds an earn-in interest. Domestically, Helix is a prominent explorer in the highly prospective Cobar region of New South Wales, where it operates the Helix-Legacy earn-in. This area is known for hosting several operating gold, copper, and base metal mines, with Helix evaluating a pipeline of wholly-owned copper opportunities and the Canbelego JV Project, maintaining a robust exploration agenda across its substantial landholdings.
