The market has discovered Icon.Fantastic day yesterdayMarket...

The market has discovered Icon.

Fantastic day yesterday
Market down but icon had record turnover 1.4Mil shares and Up 17% for the week when the ASX 200 went from 4603 to 4425.

The Project.
Reopening the Mt Carbine Tungsten mine 2 hours from Cairns on a sealed road.
95% of approvals and infrastructure in place.

Presentation dated 22 Feb 2011.
Tailings Production 50t/mth EBITDA $5M/Yr Capex $4Mil 2 Years mine Life.
Stockpiles 2012 100t/Mth 15M/yr Capes $20M 5 years Plus.
Total Capex of $24 Mil and an EBITDA of $85Mil over the 7 Years.

Presentation dated 20 June 2011.
Tailings Anticipated revenue $5 to $9 Mil per year mine life 2 years. (Capex $4Mil)

My broker rang me enquiring about Icon and advise me he had taken up $21K in the $0.075 Shortfall. Share price is trading at $0.97 clearly investors are holding like me

I am expecting the shortfall complete announcement any day.
Smart Marketing Icon sell the story to many Brokers and offer some stock $0.075.
Note the capital raising was not underwritten and had a 63% Mums & Dads uptake.

Roll on production and positive cashflow before Xmas and the above revenue.
My target is $0.25 Plus before Xmas and Tungsten continuing to rise thanks to China being a net importer.

Note 6 Mths ago Hot copper had say 15 Hits per day Now we have 63 hits in 18 Hours.

Sit back and enjoy the ride.

DYOR.