Helix Resource Limited (30%), API (AMCI/Aquila) (70%) iron ore rights
Helix Resources Limited 100% other minerals
- JORC Resource based on drilling during 2007/8 currently stands at 84.3Mt @ 57.2% Fe Channel Iron (refer to Resources section of website)
- The Yalleen Joint Venture is managed by API Management Pty Ltd (API) for the Australian Premium Iron JV (Aquila/AMCI) and forms part of their larger West Pilbara Iron Ore Project (WPIOP) from deposits in separate joint ventures with Red Hill Iron Ltd and Cullen Resources Limited and their own projects. These projects are approximately 50-70 km southwest of the Yalleen Project area.
- Helix decided Late 2012 to dilute from its current 30% JV interest for reasons including:- inability to agree JVA terms with API despite 5 years of discussions; Resource determined in 2008 and API’s WPIOP has been unable to obtain 3rd party transport solution or necessary Government approvals and funding to develop the required rail & port infrastructure costed at +$7 Billion; API shareholders are in dispute regarding the work program funding for WPIOP in 2013; volatility in Fe pricing; impact on Project viability given uncertainties reflecting the above.
- Helix maintains a Royalty should any iron ore be produced from Yalleen.