FINANCE VIDEO: Icon Resources (ASX:III) MD John Bishop Speaks with Brian Carlton at Symposium
Icon is a minerals company with development opportunities in tungsten, copper, zinc and iron ore, and exploration prospects for gold, copper, tin and molybdenum. Icon's Mt Carbine tungsten project in particular has the potential to become world class. The Company's strategy is to identify, evaluate and develop mining opportunities in a way that delivers maximum returns to shareholders.
The Mt Carbine project is located 120km (~1.5 hours by car) to the NW of the port of Cairns in Far North Queensland with power, sealed roads, water, tailings storage and some permitting in place.
Historically one of the world's largest high-grade tungsten mines, Mt Carbine is known for high-grade, low impurity tungsten concentrates, wolframite and scheelite. Tungsten is mostly used for 'hard metal' construction (machine-cutting tools), for which there is no substitute. It has the highest melting point and tensile strength of all metals, is one of the heaviest metals, and has high thermal and electrical conductivity. China, with ~60% of the world's reserves, is now a net importer, and Tungsten prices have gone up 400% over the last few years. Tungsten supply is predicted to be in significant deficit from 2013 when the mine is scheduled to be back in production.
Watch the video here:
Icon Resources Ltd