Helix Resources (ASX:HLX) has elevated executive Technical Director Kylie Prendergast to the role of Managing Director, effective immediately.
Helix says executive Chair Mike Rosenstreich will also become non-executive Chair from 1 June 2024.
According to the company, these are the final steps of the Helix board and management transition plan.
As previously reported, the plan was devised to ensure “strategic continuity”, focusing on a number of factors, including Helix’s copper prospects, while also enhancing the early stage exploration credentials of its board.
It came after Helix non-executive Chair Peter Lester announced his plans to retire from the company’s board at the start of November 2023.
Helix says Prendergast has been instrumental in preparing and delivering the current strategic exploration campaign to detect copper-gold targets and ultimately deliver discoveries in the Cobar copper-gold region of New South Wales.
More recently, the company announced it had enhanced the tenor and scale of three gold auger anomalies within the Eastern Group tenements, as reported.
Helix is focused on generating new copper targets on its underexplored ground position and testing them through drilling to make new discoveries.
As of 31 March 2024, the company had just under $1.68 million in cash and cash equivalents at hand, according to its latest quarterly report.
However, the company on 22 April announced it was looking to tap existing shareholders for roughly $2.3 million via a one-for-three renounceable entitlement offer.
The rights issue was partially underwritten up to $1.5 million by lead manager and underwriter Mahe Capital.
Write to Adam Drought at Mining.com.au
Images: Helix Resources
