9 Jan 2024listing compliance notice● Neutral
ASX paused trading in Icon's shares pending a further announcement. No reason is given in the notice; the suspension notice the same day links it to a possible change of activities.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
18 Dec 2023other● Neutral
Icon moved its principal place of business to Burleigh Heads, Queensland, with a new postal address at Pacific Fair. Registered address and phone are unchanged. Administrative notice only.
28 Nov 2023other● Neutral
Ahead of the 29 November AGM, the chairman said directors' fees are suspended from 1 October 2023 and he lent $520,000 interest-free until 13 September 2025. The court-ordered ATP 855 renewal resubmission is in process; the board is hopeful of renewal.
27 Oct 2023annual report● Neutral
The 2023 Annual Report and Appendix 4G were released and sent to shareholders. The chairman's letter predates the court result, saying judgment was awaited after the 5 September hearing. Nothing new beyond what was already known.
27 Oct 2023regulatory community update▲ GoodMajor
The Court issued orders declaring the Department's 17 October 2022 refusal null and void and requiring it to accept Icon's ATP 855 renewal application, with costs to Icon. This formalises the 19 October win, but the permit itself is not yet renewed.
24 Oct 2023quarterly activities report● Neutral
September 2023 quarter: cash $1.17m, down from $1.48m, with no exploration. The report restates the 19 October court win on ATP 855 and the board changes. Orders were still to be agreed, so renewal was not yet confirmed.
19 Oct 2023regulatory community update▲ GoodMajor
Justice Brown ruled for Icon, finding the Department made legal errors in refusing its ATP 855 renewal and that the application did address the capability criteria. Orders are still to be agreed, so the permit is not yet restored. This resolves the court fight in Icon's favour.
17 Oct 2023listing compliance notice● Neutral
ASX paused trading in Icon's shares on 17 October 2023 pending a further announcement. No reason given in the notice.
9 Oct 2023agm notice● Neutral
The 2023 AGM will be held on 29 November 2023, with director nominations closing 17 October 2023. Administrative notice.
6 Oct 2023director officer appointment● NeutralMajor
Ray James, managing director for 27 years, became Chairman on 6 October 2023. Non-executive director Jeffrey Marvin became Managing Director, with employment terms still to be set by the board.
29 Sept 2023annual report● Neutral
FY23 accounts: principal activity was the ATP 855 renewal fight, with a judgment expected in 3-6 months after the 5 September hearing. The text shown does not give the full-year loss. Includes the board changes: Barry out, Wilson in.
8 Sept 2023director officer appointment● NeutralMajor
Peter Wilson, a coal mining executive, joined the board as non-executive director on 8 September 2023. Chairman Stephen Barry, a director since 1993, resigned because of his commitments as a practising lawyer.
6 Sept 2023regulatory community update● Neutral
The ATP 855 hearing was held on 5 September 2023, and the judge reserved her decision. A written judgment could take several months; Icon will update the market when it is received.
31 July 2023quarterly activities report● Neutral
June 2023 quarter: cash $1.48m and no exploration. The ATP 855 hearing was pushed again, to 5 September 2023. Icon still believes there is a reasonable probability of a favourable decision. Jeffrey Marvin now chairs the Audit and Risk Committee.
29 June 2023regulatory community update● Neutral
The ATP 855 hearing was moved from June to 15 August 2023. Icon was told the judgment may take three to six months after the hearing, so the result is further away.
24 Apr 2023quarterly activities report● Neutral
March 2023 quarter: cash $1.81m, no exploration reported. The Court set a hearing of the ATP 855 appeal for 22 June 2023. Icon has withdrawn from all South Australian PRLs and is finishing paperwork to return ATP 594.
31 Mar 2023director officer appointment● Neutral
Jeffrey Marvin was appointed non-executive director on 31 March 2023. He has 20 years' experience in mineral project financing and development and holds no Icon securities. This is the first board addition since Dr Hilless retired.
27 Mar 2023listing compliance notice● Neutral
ASX said Icon's suspension would be lifted on lodgement of its half-year report and accounts. This resolves the late-report suspension from 17 March; administrative.
20 Mar 2023half year report▼ BadMajor
Half-year to December 2022: loss $4.36m (prior period $0.74m), mainly because the $3.45m ATP 855 asset was written off. Cash was $1.56m, and $4.26m of restoration provisions became current. Icon says it was advised its appeal has a 50% chance of success.
17 Mar 2023listing compliance notice▼ Bad
ASX suspended Icon's shares from 17 March 2023 for not lodging its half-year report by the due date. Reinstatement is expected once the report is lodged.
27 Jan 2023quarterly activities report● Neutral
December 2022 quarter: cash $1.56m, no exploration. The ATP 855 appeal is listed for review on 15 March 2023, and Icon says it is confident. The permit is described as 'in limbo'. South Australian PRLs were handed back for relinquishment.
23 Jan 2023price query● Neutral
ASX queried a rise in the share price from $0.009 to $0.015 with higher volume. Icon said it knew of no undisclosed information and offered only the ATP 855 court proceedings as an explanation; the court review is listed for 15 March 2023.
30 Nov 2022investor presentation● Neutral
AGM chairman's address mostly repeats known facts: $1.85m cash at 30 June 2022, FY22 raisings, and Dr Hilless retiring. It confirms Icon has issued Supreme Court of Queensland proceedings over ATP 855 and is hopeful of success.
21 Nov 2022regulatory community update● Neutral
Icon served court proceedings seeking directions to resolve the ATP 855 renewal dispute with the Queensland Department. This follows the earlier statement that it was taking legal advice; no outcome yet.
10 Nov 2022regulatory community update▼ BadMajor
Suspension ends. Icon says Queensland rejected its ATP 855 renewal applications for failing the financial capability test, and the Department views the permit as expired. ATP 855 was its only tenement; carrying value would fall to nil if not renewed. Senior counsel advice is awaited.
10 Nov 2022other● Neutral
ASX notice that trading in Icon shares will resume once Icon releases its announcement on the ATP 855 renewal status. Administrative; no new information.
3 Nov 2022listing compliance notice▼ BadMajor
Icon's shares were suspended at its request on 3 November 2022. Queensland's department says ATP 855, Icon's main asset, has expired and cannot be renewed; Icon's renewal payment was refused and it is seeking legal advice. Suspension is requested until 10 November.
31 Oct 2022quarterly activities report▼ Bad
September 2022 quarter: cash of $2.2m, and Icon has relinquished its 33.33% PRL interest back to Beach Energy. The report warns the ATP 855 renewal is uncertain and a trading halt has been requested, a significant new risk to its main asset.
28 Oct 2022director officer appointment● Neutral
Non-executive director Dr Keith Hilless will not stand for re-election at the 30 November 2022 AGM after 13.5 years on the board. The board is left with two directors after the AGM, based on the listed directors.
28 Oct 2022annual report● Neutral
2022 Annual Report dispatched, with the AGM on 30 November 2022. The chairman reports cash of $1.85m at year end and a seismic program planned for March or April 2023, weather permitting. Farm-out of ATP 855 remains the main focus; largely repeats known facts.