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CARBINE TUNGSTEN LIMITED (CNQ)


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General Information
Company Name: Carbine Tungsten Limited
Stock Code: CNQ
Website: www.iconresources.com.au
GICS Sub-Industry: Diversified Metals & Mining
Market Cap ($M): 16
Equiv. Shares (M): 282

Current Price Data+
Current Price Open High Low Last Close Volume Price Movement
$ 0.055 $ 0.000 $ 0.000 $ 0.000 $ 0.055 0 0%

Company Overview

Business Description:
Carbine Tungsten Limited (CNQ, formerly Icon Resources Ltd) is a mining company focusing on tungsten exploration, development and production. The current flagship project is Mt Carbine Mine located in Queensland. CNQ also has interest in other exploration projects which are prospective for tin, copper-zinc and gold.

Financial Summary
Year to Jun NPAT EPS EPS chg (%) PER DPS Yield (%) Franking (%)
2012  A -2.1 -1.0 -600.0 0.0 0.0 0.0 --
2011  A 0.2 0.2 -- 59.9 0.0 0.0 --
2010  A -1.6 -1.9 -- 0.0 0.0 0.0 --
Source: Aspect actuals / Thomson IBES estimates

Peer Comparison
EPS Growth (%) P/E (%) Dividend Yield (%)
Company Mkt Cap 2010 A 2011 F 2012 F 2010 A 2011 F 2012 F 2010 A 2011 F 2012 F
BHP Billiton (BHP) $105,697 M -0.1359 -0.2624 0.1727 10.4493 14.1664 12.0797 0.0334 0.0340 0.0364
Carbine Tungsten (CNQ) $17 M -- -- -- -- -- -- 0.0000 -- --
Iluka Resources (ILU) $4,342 M -0.2536 -0.7033 2.1588 11.4929 38.7374 12.2635 0.0338 0.0230 0.0289
Rio Tinto (RIO) $23,522 M -0.3874 0.0604 0.1398 11.1497 10.5146 9.2253 0.0298 0.0328 0.0363
Sims Metal Management (SGM) $1,829 M -0.6378 -0.2367 1.9358 26.5815 34.8249 11.8622 0.0223 0.0121 0.0412

Market Comparison
Earnings P/E Ratio P/B Ratio P/E Growth P/S Ratio
CNQ 1.98 -- 0.87 -- 137.5
Market 0.94 12.5 0.82 1.91 2.50
Sector 0.53 8.12 0.60 2.08 5.83

Directors
Name Position Start Date
Mr Andrew James Morgan Chief Executive Officer,Managing Director 19 January 2012
Dr Leon Eugene Pretorius Executive Chairman,Executive Director 15 March 2010
Mr Anthony Edward Gordon Non-Executive Director 26 November 2012

Management
Name Position
Tom Bloomfield Company Secretary
T S Peisker Project Manager

Substantial Shareholders
Holding Name
16,000,000 (5.86%) Mota-Engil, Minerals & Mining Investments BV
31,520,001 (11.55%) Pretorius, Leon E

Calendar of Events
Date Event
29 April 2014 Report (Quarterly)
30 January 2014 Report (Quarterly)
30 October 2013 Report (Quarterly)
27 September 2013 Report (Annual)
30 July 2013 Report (Quarterly)
© 2011 Morningstar, Inc. All rights reserved. The data and content contained herein are not guaranteed to be accurate, complete or timely. Neither Morningstar, nor its affiliates nor their content providers will have any liability for use or distribution of any of this information. To the extent that any of the content above constitutes advice, it is general advice that has been prepared by Morningstar Australasia Pty Ltd ABN: 95 090 665 544, AFSL: 240892 (a subsidiary of Morningstar, Inc.), without reference to your objectives, financial situation or needs. Before acting on any advice, you should consider the appropriateness of the advice and we recommend you obtain financial, legal and taxation advice before making any financial investment decision. If applicable investors should obtain the relevant product disclosure statement and consider it before making any decision to invest. Some material is copyright and published under licence from ASX Operations Pty Limited ACN 004 523 782 ("ASXO"). DISCLOSURE: Employees may have an interest in the securities discussed in this report. Please refer to our Financial Services Guide (FSG) for more information at www.morningstar.com.au/fsg.asp.

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