dont forget the facts

Seems the Macquarie report has scared many investors un-necesarily out of Intec. The truth is Intec is pocketing $2 Mill a month by vacuuming up metal rich sludge from a tailings dam, filtering and grinding it into a much sought after zinc rich powder. The current process could not be more simplier or risk free , no mining , no huge workforce and no large exploration budget . Even Mac's agree that they are earning at least 3 cents/ share . Applying a modest PE of 10 still gives you a share price of 30 cents !! .

At current prices the Hellyer tailings dam is worth $ 3 Billion , the Zeehan slag heap of 460,000 tonnes $ 270 Mill and the Electric Arc Furnace Dust ( Smorgon steel ) is worth $ 22 mill per year ! The value of the latter 2 will be realised with the expansion of the Hellyer mill in stage 2 ( CY 08 ) to a scaled up version of the trial plant in Burnie which proved the technology and ran at steady state to produce recoveries all above 95% except gold ( 85% ) . A pre feasability study completed gave a total capital costing of $ 10 mill to expand the Hellyer mill to the above configuration.

The joint venture running of Hellyer with Polymetals expires in 4 yrs , at which time Intec can aquire the full ownership for $1 , yes $1 . Obviously there revenues will double !

As at 31 /mar 07 ,Intec had $ 3.66 million in cash and the only debt was $2 mill owed to Mac Bank . The same quarterly report quoted that all major shareholders had either increased their holdings or held them constant and had given an undertaking not to sell any in the immediate future . The main shareholders were
ANZ Nominees 41 Mill
Ivanhoe 34 Mill
National Nominees 23.7 Mill
Oregon Nominees 10.5 Mill
Alliance Resources 8 Mill
Macquarie bank 7.2 Mill.

The Mac report also failed to give an upside value in the 24 % holding of Bass Metals ( BSM ) . Upside in BSM while not guaranteed is highly likely now that Zinifex has signed an ore offtake agreement and has provided 4 drill rigs working full time on the Que River tenements for no cost to Bass . Zinifex has its own world class mine and processing plant a short distance away at Roseberry where it is conducting it's own exploration program , so why be involved with Bass ?? Because the Que River mine only closed down due to low metals prices ( Zinc below 50 c / lb ) not due to low zinc resources , in fact commercial quantites where already found .

All these above facts can be found in Intec releases ,Macquarie research and Stock Resource releases .

I must disclose I own Intec shares and am also a Tasmanian with a good knowledge of these projects from people that have worked at , or are currently employed by , or are providing engineering support to the above mentioned companies.