Treefeed,Thank you for your post.I can see consolidation.But my...

Treefeed,

Thank you for your post.

I can see consolidation.

But my crystal ball for Icon is as follows.
1. Being the tungsten processing hub in north Qld.
2. Current drilling plan and resource upgrade to justify the size of the virgin material processing plant. (Drilling Funded)
3. We need a resource upgrade for the Big Boys to be excited.
4. Management getting runs on the board.
5. Signed off take agreement with maybe a cash injection for the main plant.
6. My back of the envelope calculation is $0.35 plus early 2012.
7. Currently Icon has 179 Mil shares on issue plus 34.4 Mil shortfalls from the rights issue Total 213.4 Mil shares. (Plus Employee options) Top 20 holding 43% . With incredible funded upside.
8. Directors committed to limit shareholder dilution.

I would like to see Icon get the runs on the board for the next 12 Months and built from its low base.

Any takeover/merger under at least 12 months would unrealistically under value the potential of Icon.

The updated top 20 on page 46 of the annual report is worth a look.

Sit back and enjoy the ride.

DYOR.