Helix discovery sends gold stocks spiralling

Gold fever burst onto the Australian stockmarket yesterday, with hundreds of millions of dollars in value accruing to companies with land holdings in what the principal player called "the world's most prospective area".

The charge came as the share price of Perth-based junior Helix Resources NL doubled to $3.70 after the release of strong drilling results from a gold discovery in the Gawler Craton in South Australia.