HLX - the next 5 bagger cobalt/nickel play?, page-468

As far as Western Australia goes this is where the Company is centered and Mick works there.

Seems dumb. The key projects - on which HLX's future depends - are in NSW, Mick is on the other side of the continent dreaming about Chile.

I think the management and board need to be cleaned in, and people brought in who have energy and a laser focus on developing one key project.
The market has lost confidence in the current bunch of troughers who are just there for a meal ticket and whatever funds they can extract from shareholders to maintain their lobster & champagne lifestyles. They consistently don't buy any shares themselves (which is a big raised middle finger in itself) and seem happy to stand by and watch the SP drift into the utter doldrums, so why do the company owners owe them anything at all? We have had promise after promise after promise that they will realise value for holders, and these are promises not kept - as they have drilled some dusters, done absolutely nothing with the gold project, and advanced Collerina at an absolute snails pace. I see the same stuff being endlessly recycled in company presentations and announcements - the exact same pictures and wording - proving they are far too lazy to come up with any new material. Almost every other explorer in the Cobar region is running rings around HLX, with SP's that are many multiples of the HLX SP - but often they have not much more to work with: a flagship copper or polymetallic project + some gold tenements in the mix.

HLX could IPO the Cobar gold project and retain a major stake in the new entity - thereby raising the funds to explore the ground properly. This stake could in turn at least partially be sold down in due course - once the new entity starts gaining traction - to garner funds to develop Colllerina. But I suppose it is much easier to have a long lunch, then think about when to do another CR to raid shareholder pockets.