Ann: Appendix 4C - quarterly September 2013 , page-2

Intec refuses to die.
# The "clean up" is relentless.
# Cash is actually better than last quarter!!!!.
# BRF could be profitable as a stand alone business.
# "The Intec process" is not completely dead...may actually provide some income from 3rd party without spending our own cash.
# Zeehan slag (500Ks tonnes with 14% Zinc....Contained metal value $140M) could produce some income at some stage....A good asset....Sitting on the ground waiting to be sold....Zinc fundamentals look solid.
# The turnaround will come from a good business acquisition.
Happy with the slow steady progress.