steady state

Qrtly report now available

http://www.intec.com.au/download/Appendix%204C%20Jun%202006.pdf

Great news, the JV deal for early cash flow, via treatment of tailings at original Hellyer Mill, is on track and is expected to be commissioned by the end of Sept.

Half of their forward production has been hedged, however the report doesn't detail hedging prices, but given recent high market prices and management are aware that there is going to be a shortage of metals like zinc for some time yet I think we can safely bet they are smart enough to lock in a good deal.

We can look forward to strong cash flows for the next 3 years.

There are plenty of positives, for instance they look like they will be able to increase production from 1.5 mtpa to 2 mtpa. (that's a 33% increase!)

Also INL should be able to ramp up zinc production via the addition of EAF dust..etc. (more income again)

This should enable INL to strategically plan ahead to maximise value from the main project as well as look at other opportunities for either JV's or royalty agreements.

Steady state has been achieved!!!!

Very importantly the major metals, Zinc, Lead and Silver have all met recovery targets.

All the best to holders
Boomer