Ann: Maiden Australian Drill Program Successfully Completed, page-104

Unfortunately our mc is now dropping down to fair value. It hurts but when you compare our mc to other junior explorers there is no reason to think we should be valued any higher. Things are getting worse without any near term drilling/ie potential catalysts. Not many are keen to hang around for assays after the NBK04 let down. To make matters worse, after the recent market correction, a lot of other good companies with near term sp catalysts and/or economic deposits, were heavily oversold and are now on sale at bargain prices - there are just too many reasons to sell and not enough to stay. The investment case for icg now compared to other companies is not strong to put it nicely.