Sad to say, I was right. That government grant is a joke. Icon doesn't qualify.
The crunch, naturally, is "demonstrates proven prospectsof bringing significant new gas volumes to target markets by mid-2020.
Icon needs to complete Stage 2 of APT855 to reach that criterion!! So, needs to spend $12 million to get that $6 million. NO small cap company will be able to qualify as none of them has that cash or have reached that stage.
And zero for ICN's Victorian leases as they haven't even been allowed to drill one hole there!!
And can you see the big boys rushing there for that $6 mill hand out???
TOTAL grant $36 million. FARCICAL. A sick joke!!!
As I guessed, absolute political bullshit.
Roll on Chinese or Japanese money. Whatever happened to people who had the vision and guts to start up BHP over 130 years ago. How we have "progressed"!!!
ICN Price at posting:
2.8¢ Sentiment: Buy Disclosure: Held
(20min delay)