metals recycling project, page-7

Hi Deidre and Desire.

I hope your CapEx estimate is correct Deidre but the earlier Hellyer Intec plant was guestimated at US$ 120million. (WHISecurities 8th March 2004) Hellyer Intec plant was the terminology back in 2004. Much has changed since then; gold was US$ 395 an oz, silver was US$6.50, but zinc and lead were about the same as now. EAF dust was not the feedstock but construction costs have soared. Treatment costs should have dropped as EAF dust is "free" and the Intermediate Lead Concentrate has already been through the mill.
Nothing remains the same and so it is with this project which has evolved to the present Intec Metals Recycling Project.
No "running costs" were given in the WHIS report but it was expected that "an annual after tax operating cash flows of around A$40m" would be generated. The report noted that "Although the cash flows from the proposed Intec-Hellyer operation are undoubtedly attractive, the economic implication of the successful commercialisation of INL's mineral processing technology is likely to br far more significant to shareholders".
We are on the final leg of the journey. It has been a long, hard grind but the goal is now in sight and, I believe, with much better economics than the old project.

Cheers.