inl joins billionaires club, page-12

Hi Maddoc,

I agree with you that it is all very depressing and am looking forward to some "solid news" in the Quarterly Report due to be released by 30 April.

Unfortunately even the beginning of the payment from Bass Metals is quite some way off as they have to complete the incline and have a stockpile of ore before they start to process anything through the Hellyer Mill.

Any news on the progress of the GB Galvanizing project should be well received especially if the 50,000 litres have been transported to Burnie and are presently being treated. You can forget any "estimated revenue" from processing the 50,000 as that will be Commercial in Confidence. What you really need to focus on is any news on the use of the process in China.

The relentless decline of Intec's share price will stop when some very positive news is released. Positive news released late last year and early this year did not halt the decline in the share price because there was nothing definitive about future projects, contracts, or revenue. All good stuff but nothing set in concrete. Further La Jolla, I believe, is undermining confidence by their sell-down of shares as soon as they get more issued to them.

I agree with you that there is no sense in selling at the moment and converting a paper loss into an actual loss even for tax purposes. The opportunity to recoup some of your loss is, I believe, just a few weeks away. However why sell once the good news starts to flow. What we need is even just one of Intec's processes to be accepted for the ball to start rolling.

Cheers.