intec jervois squabble continues

Shame on the market sentiment..... I like the company but atm it's a no go zone until some new great news......IMHO. PW might bring some goodies shortly ?

Intec-Jervois squabble continues

Rebecca Lawson
Wednesday, 4 April 2007

INTEC has defended the technology it had offered to use at Jervois Mining's Young nickel laterite deposit, as the apparent bickering between the two companies following the fallout of merger talks continues.



An electrowinning cell at Intec's Burnie demonstration plant

In a market statement this morning, Intec responded only to one claim among others made by Jervois earlier in the week, saying that its Intec Process technology was "well capable" in the extraction and recovery of precious metals.

Jervois said on Monday that Intec's technology for nickel processing was not appropriate or relevant to its Young deposit and the only asset Intec could bring to the transactions was its remnant mine tailings at the Hellyer mine in Tasmania.

Jervois also added that its own work – as carried out by Canadian consultant Dr Bryn Harris – into chloride extraction technology was "far more advanced" than other companies, including Intec.

In today's statement, Intec said that it would not respond to Jervois' "various opinions" with the exception of its Intec Process technology.

"[Intec] assures its shareholders that the Intec Process is well capable of the extraction and recovery of previous metals, including at Hellyer, and will do so wherever the relevant feedstock renders this economic," Intec said.

"[Intec] shareholders are reminded that the Intec Gold Process was first proven at the Brookvale pilot plant's successfully mass-balanced continuous campaign in 2004, where 96% of the contained gold was extracted and recovered from a refractory gold concentrate provided by Barrick Gold."

The squabbling between the two companies follows Intec selling all its Jervois shares last week for a gross profit of $2.5 million.

Intec added that it still retains 107.2 million Jervois options, exercisable at 1c each, and intends to exercise the options at or before November 30.

Shares in Intec remained steady at 17c in morning trade today while shares in Jervois climbed 0.1c to 2.1c.


http://www.miningnews.net/storyview.asp?storyid=96740§ionsource=s0