for your eyes only., page-16

Interesting analysis from Dave Sammut of Intec, from the Q+A Investors Forum on the Intec website...

"Jervois Announcement

Dave I've just read the Jervois (JRV) announcement, I know it is early days but do we know anything about the technology proposed for the Young Ni and Co mine.



Response from Dave Sammut, Intec Ltd

Hi Tradewins,

We haven't had any conversations with the management of Jervois Mining Limited (JRV) since they made some completely incorrect and uninformed negative remarks about the Intec Process in response to our collaboration/corporate proposal. Since then JRV has pursued a wide range of different alternative new technologies to try to unlock the value of the large (but low-grade) nickel-cobalt laterite resource at Young.

JRV has put out announcements that it is spending money investigating pyrometallurgical ferronickel production; heap leaching; a promising but unproven Canadian chloride-based hydrometallurgical technology (with the inventors of which Intec already has a longstanding, independently established and productive relationship); 'conventional' (but prohibitively expensive) high pressure acid leaching; a testwork agreement with our friends at Outotec; and more. None of these has developed beyond the laboratory concept, with minimal subsequent indication of testwork outcomes.

The latest JRV announcement is difficult to evaluate without more detail. It says only that "[Yunnan] Jiaming [Technology and Industry Company] will contribute the authority to use its patented and non-patented technology for recovery of nickel and cobalt". An earlier JRV announcement linked Jiaming to heap leaching technology, so we'd have to guess that the technology on offer would be a 'proprietary' heap leach (which in the base metals industry is commonly associated with low-to-moderate total extractions over lengthy leaching periods). This extraction would possibly be coupled to some form of solvent extraction/electrowinning metal recovery.

Given our strong interest in hydrometallurgical treatment of nickel laterites and the exploration tenements held by Intec Exploration Pty Ltd that virtually surround and run right up to JRV�s deposit at Young, we will follow this continuing saga with keen interest.

$45 million is a huge outlay for a pilot plant, the results of which are many years into the future, and any definitive decision to finance and commercially develop the Young project is therefore even more years off. Market reaction to JRV's announcement has therefore been understandably muted. However, ultimately Intec hopes that JRV and/or its partners do develop the Young deposit in some form as this could be expected to deliver value to Intec Ltd shareholders in a number of ways."