intec lightens jervois load...

Excerpt from The Australian article:
"There's more to iron ore than meets the eye"

27th March, 2007

INTEC LIGHTENS JERVOIS LOAD

AFTER being shown the door on a possible merger with Jervois Mining, Intec have sold down its 14.5 per cent stake in Intec to a fully diluted 8.33 per cent holding.

Intec had picked up the stake in Jervois late February and called for a summit meeting between the two to discuss possible merger opportunities.

It bought the Jervois shares for an average price of 1.16c, selling them on the market for an average price of 2.73c.

Intec, a Sydney University-based company with its own chloride hydromet process, denies it wanted the tie-up with Jervois to get direct access to Jervois' own chloride leach technology.

Instead it said the reason it wanted a merger would remain "commercial in confidence".

Whatever the reason, at least it has a cornerstone stake in Jervois and didn't have to fork out too much to do so.

Link: http://www.theaustralian.news.com.au/story/0,20867,21457109-15023,00.html


End.

Cheers, Pie