Hi Healyn,I know you were "not thinking about cleaning up the...

Hi Healyn,

I know you were "not thinking about cleaning up the landscape". However Do Run does not have the money to "replace the smelter" and certainly Intec can't come up with the money either. So a new smelter is out of the question while the pressure is on Do Run to clean up its mess.

More importantly it should be noted that Intec has "no debt". It paid back Macquarie's loan so it is debt free unlike many companies which are scrambling to roll over debt; which banks are making difficult or impossible to do; or companies are selling assets or raising capital by SPPs or placements to pay off debt, or as in the case of RIO entering into an agreement with an old foe. Besides those, many companies have already gone into receivership or folded altogether.

Now Intec sold off its Hellyer mill and its surrounds but it has about $5 million credit still to come from the sale. Also Intec has about $5 million held as Environmental Bonds till it uses its store of EAF dust.

Thus Intec carries on while it convinces polluters to use its "waste water" method. Intec's SPP is merely for "working capital" while it seeks "waste water" contracts or more importantly, the banks to start lending again.

Cheers.