Firstly I agree with you that they have let shareholders down big time, absolutely no doubt there.
Secondly they do not need a prayer, what they need is pretty simple (positive progress on the Metals Recycling Project) and some much needed direction.
If Intec have nothing to advise the market after working on this project since May 2008 when the board decided that Stages 1 & 2 should be combined, then some serious questions need to be raised against senior management.
Like, what exactly has been achieved for the last 5 months to justify their hefty pay packets? There is no industry which allows you to burn millions and not show any results or returns for the investment.
Intec will have an update out in the next few days, they owe that to their share holders at the very minimum. Progress is what is required to simply eat away at the cash at bank through payment of wages to management & the very expensive lab technicians would be a very low act in my books.
Come clean, is the project as 'robust' as PW kept suggesting, do we have any partners lined up etc. Time has run out for Intec IMO only.
Regards
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