Ann: Industrial Ecology Presentation July 2011 , page-9

re: Ann: Industrial Ecology Presentation July... Hi Rskiff,

I still have confidence that Intec will some day get the break they deserve however the business model has been the problem. Instead of trying to be a miner at Hellyer ( see Bass Metals) and use the technology to prove the processes themselves they opted to try to be a world leader in the dream that companies would adopt their technology. You can research all you like but if no-one wants to use your product you have a cash flow problem.

They appear to have brilliant processes for doing wonders refining and retrieving metals however one can't force another company to adopt the technology. That is the problem. New processes take big dollar amounts to implement and which company is willing to do that.

The gold process for example needs a new mine with ore that is able to be treated. Then the owners of that ore deposit has to be willing to build a plant, involving new technology, that will successfully treat that ore. Several new technologies failed at the point of implementation and so there is great hesitancy for companies to try new processes. Who can blame them.

Intec's big hope is that GBG is convinced that the SPL renewal will be very profitable and that GBG is able to raise the capital to build the plant.

IF the SPL process can be proven in Victoria then who knows where Intec's process will be adopted next. There are so many possibilities but it is getting the first SPL plant up and running and proving its success that is the sticking point.

Cheers.