NEW YORK, Sept. 28, 2007 (PRIME NEWSWIRE) -- Wall Street Reporter Magazine recently published an exclusive interview with Greg Wheeler, Executive Chairman of Helix Resources Ltd. (ASX:HLX), discussing his company's excavatory goals for gold and minerals in Australia.
"With respect to gold, we have two projects: the Tunkillia Project in South Australia, which has JORC resources of 800,000 ounces; and the 100% earning of Glenburgh Project in the Gascoyne Region of WA, which has 108,000 ounces. We are currently drilling five new targets," Mr. Wheeler explains to Wall Street Reporter. "At the moment, the most advanced project is Tunkillia. Minotaur Exploration, which is also an ASX-listed vehicle, is spending 5 million to earn 51%, and they are currently doing economic studies, which will bring into account any infrastructure issues."
The interview is available in streaming audio, or for download in MP3 format, at wallstreetreporter.com.
Essential topics for investors include:
-- Helix's joint ventures with esteemed developers, which augment its resource expectations for gold, iron ore, and uranium projects.
-- Mr. Wheeler's confidence in the potential for several hundred million tons of iron to eventually be developed by Helix.
-- The company's plans to commence iron ore production and to have at least one gold mine nearing production in three years' time.
"We currently have resources in excess of 900,000 ounces of gold. We have the potential for significant iron ore resources in the hundred millions of tons. We have a number of exploration properties, base metals. We have $3.3 million in cash and liquid securities enable us to fund ourselves for the next 18 months," explains Mr. Wheeler. "With exploration success, we should be able to raise funds relatively easy in the future based on the quality of the assets."
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Wall Street Reporter (EST. 1843) helps smart investors connect with exciting companies, through our web site, magazines, and conferences. We are most acclaimed for our exclusive interviews with industry-leading CEOs and the world's top investment experts.
About Helix Resources Ltd
Helix Resources Ltd, an Australian-based company, has been listed on the Australian Stock Exchange for twenty years. Relying on its substantial resources and capital, the company is anticipating a significant gain in gold and iron ore production in the near future; the board is similarly optimistic regarding its uranium projects.
Forward-Looking Statements
Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include, but are not limited to, risk factors inherent in doing business.