Ann: Potential For Phosphate Mineralisation at Frewena, page-56

Seems there is a problem with ICG that is unrelated to whatever resource claims and reserves it has across its mixed bag portfolio across at least two jurisdictions.

It has already done a 20:1 consolidation and done a phoenix to the Top 20 shareholders and yet the current Board can't seem to get themselves mobilised for opportunities that emerge from endu-use real markets as they are stuck in an "exploration company" mindset.

The solution to unlock shareholder value on the 'phospate opportunity' that now presents itself to them is actually quite simple and it isn't a JV or a prepayment based offtake agreement or a merger or an acquisition or some such other shareholder value diminishing mechanism.

Part of the problem is the Board itself but that is also fixable in the same simple solution as could unlock the phosphate opportunity.

Yes, I get it....I am an outsider with no holdings in ICG so what would I know....i met an ostrich that had its head in the sand once, it barbequed up nicely.