Helix Resources Ltd (ASX:HLX) Announces Placement Completion and Board Changes
Placement Completion
Helix Resources Ltd (ASX:HLX) has successfully completed a placement of 100 million fully paid ordinary shares at $0.005 each to Acta Investment Group Pty Ltd. This capital raising totals $500,000, aimed at advancing the company’s exploration projects in Cobar, NSW, and enhancing working capital.
Board Changes
Following the placement, Mr Michael Povey has been appointed Executive Chair, while Mr Mike Rosenstreich has transitioned to a Non-Executive Director role. Helix maintains its support for Acta’s proportional takeover offer, with directors recommending acceptance.
Future Outlook
The funds from the placement will facilitate drilling at the Muriel Tank gold prospect and regional auger drilling across Helix’s highly prospective exploration assets. Helix remains focused on tapping into its strategic ground position in the copper production-rich Cobar region.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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