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Helix Resources Limited ( (AU:HLX) ) has shared an announcement.
Helix Resources has responded to claims by Canex Metals that its joint venture with Gold Basin Resources over the Gold Basin Project in Arizona is invalid, stating that the Canex assertions are inaccurate, not legally determinative, and will be contested. Helix contends it entered into a valid, binding and properly executed joint venture with Gold Basin under Western Australian law before it was aware of the Canex takeover bid, and that it has complied with agreed timelines and ASX Chapter 10 requirements.
The company also rejects suggestions of regulatory breaches or related party issues, clarifying that TSX Venture Exchange approvals are Gold Basin’s responsibility and that adviser Kevin Lynn was not a Gold Basin director involved in JV decisions. Helix notes it had no knowledge of a potential Mayfair Acquisition Corp. transaction during negotiations, highlights that no formal Mayfair bid emerged, and corrects a non‑material dating error on an earlier, unsigned draft JV offer while reaffirming its intention to defend its position and keep the market informed.
More about Helix Resources Limited
Helix Resources Limited is an ASX-listed exploration and resources company focused on mineral projects, including the Gold Basin Project in Arizona through a joint venture with Gold Basin Resources Corporation. The company operates under Western Australian law for its agreements and emphasizes compliance with ASX regulations, particularly around related party and influence transactions.
Current Market Cap: A$5.35M
For an in-depth examination of HLX stock, go to TipRanks’ Overview page.