it does not work commercially, page-16

To Those Who Have contributed to "it does not work commercially"

tastarga
1. Your statement that "this technology must now be over 20 years old! Patent protection ,if any, must have morphed into some downstream irrelevency."(Sic) is wrong. If the technology is "over 20 years old" why has Intec been proving it up? Where has it been for 20 years?
2. Statement "Seen AusIMM presentations where the INL reps were torn to shreda." (Sic) Unfortunately I have not been to any such presentations so I cannot answer this statement but you have not said which presentations you have attended. Note the plural.
3. "Been jved (Sic) for due diligence to just about evry (Sic) major on the planet but no one has taken up the reigns.(Sic) I assume that you are saying that they have taken their technology to some, not every, major mining companies. The way I read it is that the mining companies are coming to Intec because their ore is not able to be processed by conventional means.
4. You have something correct at last. Intec, in conjunction with JV partner Polymetals, is using traditional technology to produce their Zn, Pb and Ag concentrate. The method does not allow Au to be extracted. You are incorrect when you say "They claimed a full suite when it came to a JORC resource but the precious metals were never recoverable." It is not misleading at all. The JORC resource refers to their new method and not the traditional technology. However even the old technology is extracting a fair amount of Ag which I believe is a precious metal. Gold can and will be recovered by the new method.
5. Yes, you are correct Macquarie has reduced their holding in Intec. The reason for the reduction is however not known. You are inferring that Macquarie has reduced exposure because it has no longer faith in the Company. Have you any proof? Ivanhoe still has the right to use the Intec method but is withholding using the method until commercial aspects are resolved. Barrick Gold may yet surprise by using Intec's method on its otherwise untreatable ore in Sardinia.
6. Your statement/question that "The Zinc dust will be a liabilty (Sic) not an asset-why do you reckon the Tassie Government has already requested environmental bonds?" shows a lack of government regulations. All Australian governments require environmental bonds to be posted on mining ventures and toxic wastes. That Intec has to outlay environmental bonds to the Victorian and Tasmanian governments shows adherence to the regulations.

I agree with you Opaline that spinning out BSM as a future source of ore was a good one. That BSM has gone to Zinnifex in the short term is not a problem. Intec and Polymetals are too busy improving the present mill to be able to spend time on sorting out BSM's ore. As tastarga said the present mill can not extract Au, nor can it extract Cu. However watch this space.

Certainly Opaline the title of this thread is disingenuous. To state that the INTEC process is "yet to be commercially demonstrated" is true but misleading of the poster. The process has been proven at the lab bench level, the pilot plant level and the demonstration plant level. Now to upscale it about 80 times and you have the proven product.

"There is no denying that progress towards commercial scale operations has been painfully slow and expensive. Any innovative industrial process has to be thoroughly tested before it is accepted by the market and the Intec process is no exception. However, acceptance is coming and this is demonstrated by the choice of the Intec process as a front runner for CMR's Brown's Sulfide operation." What a true statement that is Opaline. Thank you for saving me the problem of writing it.

Tastarga, as InvestEgate says "Where did you get the couple of hundred million from." InvestEgate is quite correct to quote Philip Wood's estimate of $75 to $100m. Note that is for the complete Hellyer Metals Recycling Plant. Also note that the present holding of EAF dust and Smorgon's promise of a yearly amount gives Intec enough EAF dust to function for 7 years without acquiring more.

Over to you Tastarga.

Cheers.