resignation of chair, page-14

Whatever the reasons behing the scenes if ICG had given a director of only 8 weeks standing 20mn shares at 5.4c I would have sold out and taken what profit remains off the table and I believe I would not have been alone.

The orginal idea was at 80% of VWAP in the 5 days preceding the issue.

To ask the board to throw this out the window and issue shares at a 60%+ discount to the VWAP of the previous 5 days (from 6th Feb) is outrageous imo.

The board were absolutely right to deny this extremely greedy request.

I also concur with those of the viewpoint that the ANN of 8th Feb reads very positively on both the outcome of upcoming assays and the board's attitude towards all shareholders - not just a select few.

I have been an active investor in ASX resource stocks since 2005 and an occasional investor in the sector since the 1980s.

I cannot recall ever seeing an ANN like this before relating to a resolution passed at an AGM the day before.

All credit to the board of directors for their decision and manner of communicating it to the market.

EB