III 0.00% 10.0¢ icon resources ltd

potential consolidation

  1. 1,559 Posts.
    I think most of you will have noticed that Woulfe has published a Mining Valuation Opinion produced by Ross Glanville & Associates Ltd. Woulfe has not yet published neither its pre-feasibility nor its bankable feasibility study.

    To me this looks like preparing for a potential takeover. The BOD now has a good argument they can present to any interested party and I thinkg exactly this was the purpose of the study in the first place.

    Once consolidation is publicly announced we can reasonably expect share prices of most if not all players in the field to go up. Tungsten prices have held up very well during this period of uncertainty so the reasoning behind all tungsten-related investments has been reinforced. Almonty's purchase of the former Heemskirk tungsten assets in Spain could be seen as a precursor of what's going to happen during the next couple of months. There are several projects scheduled to get into production during the 2013-2015 time frame but just a few ones that can get out concentrate earlier. Icon certainly should be in this early group as we expect first production during the December 2011 quarter.
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