III icon resources ltd

mt carbine reserve & potential

  1. 1,406 Posts.
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    I find it very interesting that Icon have in the latest quarterly report increased the reserve estimate from 9.6Mt @0.2%W03 to 55-60Mt @ 0.9%.
    I thought this would have been exciting news which would have been announced separately.

    Why was it withheld or is the Tailings & the 9.6Mt @0.2%W03 enough to justify a mine.
    There must be other patched within the 50Mt were the deposit is a 0.2%W03.
    Also the "hill abutting the north wall of pit which contains numerous historical workings and identified mineralised zones" has not been included.

    As advised “Several” companies have been conducting out due diligence and Icon has “SEVERAL PARTIES HAVE NON BINDING PROPOSALS”.

    IS ICON KEEPING THE TRUE POTENTIAL OF MT CARBINE CLOSE TO ITS CHEST CONSIDERING THE MARKET CAP IS AROUND $6Mil.

    Announcement Dated 15 May 08
    Tailings 2.5Mt @ 0.11% WO3

    Announcement dated 5 June 08
    Resource estimate was 9.6Mt @0.2% WO3
    Tailings 1.6Mt in tailings dam No 4 @ 0.11%

    Announcement dated Sept 08.Page 1 & 2
    Values the Tailings “@ $30-$40 Milion.
    JORC reserve Tailings 1.6Mt @ 0.11%

    Announcement Dated 3 Jul 09,
    55-60Mt @ 0.9% (Excluding the "hill abutting the north wall of pit which contains numerous historical workings and identified mineralised zones")

    Time will tell.
    Please do your own research.
 
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