est pe of 2 from mt carbine in 12mths.

As mentioned Icon is moving from an explorer to a producer over the next 12 Mths.

For info please find the estimated P/E data for Icon in 12 Mths.

Total Shares
Issued 46.5Mil
Rights issue Taken up 5.9Mil
Rights issue still available 9.6Mil
Mt Carbine deal 3.5 Mil shares to be issued.

Options.
Directors options. 2.7Mil
Total rights issue 15.5Mil
Options @ $0.35 Exp 30 June 09 7.7Mil

Market Cap @ $.020 App $11.2Mil (46.5 Plus 5.9 Plus 3.5Mil equals 55.9Mil Shares)
9.6Mil rights to be issued @$0.20 $1.92Mil
Total market cap @ $0.20 $13.1Mil.

Mt Carbine Cash flow.
Per announcement dated 11 Sept value of tailings to be processed over the next 12 to 18 Mths “$30Mil to 40Mil” in tailings.
Per announcement dated 31 July “$34 Mil.”
Per announcement dated 15May “annual revenue in the order of $20Mil and a pre tax operating surplus of $8 Mil”

Therefore my “back of the envelope” P/E is 2.

Note this only considers the Mt Carbine.

Please do your own research.