I have been holding this stock for a number of years now. I have...

I have been holding this stock for a number of years now. I have a couple of times over the past week started to type out a post reminding people what the pre feasibility study results were for the Hellyer Metals Project. I have stopped because the Hellyer Metals Project pre feasibility study goes as far back as 2004 and I presume the parrameters would have change substantially since then.

However, INL was always about its technology with the HZCP just an opportunity to grab some cash to fund the development of the technology. Since 2004, INL have built the Burnie Demonstration Plant and incorporated its results in the MRP proposal.

Therefore, bearing in mind that the Hellyer Metals Project would have change substantially since 2004 ( incorporation of Burnie Demonstration results, changed mining costs, change scale of proposed plant, etc.) the following are the parrameters from the prefeasibility for the Hellyer Metals Project:

Enhanced Case:

Capital Costs: A$137M;
Project Life 22 years;
Annual Sales Revenue: A$79M
Annual Operating Costs: A$30M;
Annual Cash Flow: A$49M (excluding Int,Tax, dep, Corp Cost, etc.);
Net Present Value: A$149M;
Metal Price Assumptions:
Zinc-US$0.45/lb;
Lead-US$0.28/lb;
Copper-US$0.95/lb;
Silver-US$6.50/oz;
Gold-US$380/oz;
Exchange Rate: A$1.00 = US$0.6964;

Do what you want with the data. Off load shares at current prices at your own risk.

The above information has been taken from the Grange Securities Research Report dated 8th October 2004.

Regards

SP