Bonnie Claire Lithium property hosts Inferred resource of 11.8 Billion pounds of lithium carbonate equivalent

Potential to be the largest lithium resource globally

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Message: Questions

Dear Iconic Minerals Management,

please find below some complementary questions.

 

1) AGORACOM

Once again. „What is the purpose of the launch of a CEO Verified Discussion“ forum?“ or more general, what has AGORAOM done so far for Iconic Minerals other than setting up a forum, which purpose is „questionable“? Other than streamlining „communication“ what are the benefits for Iconic Minerals? 

2) Bulk tonnage

Why is the approiximate amount of material stored / send / and tested such a secret at this point in time?

I’d like to understand what harm this information could cause in your opinion. Obviously this information is considered „material“ for some reason. Both SX and ICM have avoided answering this question.

3) Independent Lab Answer

You were refering to the „independent lab answer“. According to St-Georges press release from April 1st, 2019 „The phase 1 confidential report is currently being independently reviewed and a final public summary should be disseminated within 45 days.“ (=mid May) but in fact St-Georges has reteained the service of the independent QP – Mr. Yves Caron - only some time in May and the report is still not available to the public. Does this „delay“ has any implications with regards to the company’s strategy?

4) Bonnie Claire Metallurgical Evaluation and Process Development

According to todays press release the company has received the draft report titled: „Bonnie Claire Metallurgical Evaluation and Process Development“. It was my understanding that St-Georges has shared a confidential draft report back in mid February with the pricipals of Iconic Minerals. I assume this is just an updated version of the initial draft report?

Excerpt from St-Georges Monthly Progress Report February 2019:

„An initial draft report for the Phase 1 and parts of Phase 2 of its contractual agreement with Iconic Minerals has been shared confidentially with the principalsof both companies.“

5) Alternative Financing Opportunities / Start of Drilling

 One answer to the last set of questions was „The company has been reviewing alternative financing opportunities that will allow it to proceed with it’s next phase of exploration/development“. Since the wet season is long over and the company has not financed any next phase of exploration/development yet it seems that financing is in place but subject to a favorable and verified Phase 1 plus report. It seems that Iconic Minerals has no other „option“ than waiting for St-Georges to release the report before moving on.

Today the company announced that it is preparing to mobilize to the Bonnie Claire project and initiate the 2019 exploration plan but no word about financing. Could you please explain what kind of agreement the company has in place?

6) Southern "shallow" targets

Other than providing bulk tonnage for further development of the processing technology, what is the reasoning behind moving from the deep drill holes to the shallow ones in the southern part of the project?

7) By-product credits

With regards to by-products you mentioned, that this is not the primary focus of the company and only secondary. While I understand that the focus is lithium I fail to understand why the company is not more interested in the by-products as well. Is it save to assume that a PEA / PFS will be for the lithium only and by-product credits won’t be taken into account?

8) Hercules

https://eplanning.blm.gov/epl-front-office/projects/nepa/41037/51128/55670/POO_November_2014.pdf

The price of Gold has increased a great deal over the last couple months and in general the interest in Gold projects/companies has increased. Therefore I’d like to know at what price point the company intents to advance the project to a NI-43 101 compliant resource. Is the company currently in discussions or is this project „on hold“ despite the increased gold price?

Thanks in advance for your swift feedback.

Regards phobieeee

 

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