No need to waste additional capital in taking over BSM, the...

No need to waste additional capital in taking over BSM, the 23.5% stake is perfect for blocking any potential take overs of BSM from (eg OZL) let BSM continue drilling and adding to their resource base over the next few years.

INL are a diversified company through its mining operations and its technology development. Once the fine details are delivered that the MRP is fairdinkum and major project partners signed up this company will re-rate in a big way.

The Hellyer Mill is the crown jewel in the INL business model, it holds all the Aces, for regional explorers to survive they have to Toll Treat their ore through either INL or OZL.

Hellyer Mill has capacity to lift throughput to accommodate 3rd party ore deals easily. Intec are also enhancing the mill to produce Copper & Gold concentrates which will be required for the BSM deal.

Takeovers of other small regional explorers IMO is about 2 years away. Firstly Intec need to keep the Hellyer Mill cash flow positive during these difficult times, which is a major tick in my book.

Secondly Intec need to get the MRP into construction / production then only will the market realize the potential and factor it into the INL share price / market cap. Another interesting fact will be to see how the US investors view Intec over the next few months when PW visits and makes presentation.

Regards