Hi Maddoc.Well there is no point in gilding the lilly so I...

Hi Maddoc.

Well there is no point in gilding the lilly so I called it as I see it and called a spade a spade. Intec is presently in survival mode and will be until they get some runs on the board. Those runs will come from contracts regarding wastewater and perhaps something from left field. Intec seems to be good at doing that.

Intec has advised shareholders of some of the companies that are their best chance of getting those runs on the board. A few are very encouraging. One that sticks out is the pickle reprocessing. If a government agency asks for a proposal I believe it is very encouraging and that success is more likely than not.

You ask "What is the plan to stem the bleeding." Well it is the "waste stream" until the banks lend again and confidence returns.

Personally I don't believe that shareholders will be asked for more support after this SPP. I believe that the run scoring is not too far away and that the next fund raising will be a bank loan for a purchase (Whyalla) or a company in a JV.

Cheers.