steady state, page-7

I am trying to get my head around the numbers for this company, maybe longer term holders can confirm and correct any wrong assumptions I have made:

so short term starting round October the Hellyer zinc concentrate project can pump out say $10m ebitda per annum on base prices and double this using spot prices (after having given 50% to its JV partner). Current market cap is $70m...

based on this alone it would seem very fair value? price to EBITDA 7 times or less (probably closer to 4-5 times depending on how spot prices hold up) - that should provide ample cash flow to prove up the technology further leading to the metals project...

the economics of the Hellyer metals project look very sound given today's update, the NPV of this project was estimated at US$240M in the Frankfurt presentation in June....aiming for production (if proved up) say 2008 or 2009.

now am I correct Intec owns this intellectual property? so despite the stunning economics of Hellyer which make Intec a great buy in its own right, I think the really huge upside for this stock in the future is licensing its technology out to any number of mining firms around the globe with tailings which can now be made economic? i.e. license fees and royalty payments would be a massive flood of cash for the company once they have shown the technology is viable at Hellyer. Alternatively they could acquire similar projects around the globe all of which they could add significant value to.

It seems to me if they can prove themselves at Hellyer this will be one of the best buys of the next few years.