Icon has $4,492,112 less $160,000 in the bank ($4,332,112) which...

Icon has $4,492,112 less $160,000 in the bank ($4,332,112) which guarantees the tailings processing and cashflow positive by Xmas.

What an incredible complement to the new management of Icon. They have raised $4,492,112 or 63% of the capital raising from Mum & Dad Shareholders investors in these uncertain economic times having confidence in an independently confirmed Bullet Proof Tungsten project.

Clearly now Icon directors will now be offering the balance of the 37% or $2,655,268 shortfall to institutional, professional and sophisticated. (Will an off taker be buying in?) I confident Icon will fill shortfall soon.

I am also delighted with how robust the share price (Rights $0.075 Trading $0.095) showing Shareholders prefer to Hold rather that take a premature profit. Current buys 1.15 Mil Sells 153K outstanding.

Icon has announced they have signed a letter of intent for a Tailings processing plant and the roamers are it is a 2nd hand plant and could be relocated and operational in November. If this is true I am confident Icon would be well below the $4.348Mil budget below.

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)

Sit back and enjoy the ride the shareholder support and share price reflects a robust funded company which will be a cashflow positive producer by Xmas.

Rights issue anticipated expenditure.
$4,348,000. Construction of Tailings Processing Plant
$1.000,000. Exploration drilling at Mt Carbine 7 Tara.
$1,000,000. Feasibility Study for low grade stockpiles. $640,000. Corporate Costs and Working Capital.
$160,000 Expenses of issue.
$7,148,000 Total.

Please DYOR.