to buy or not to buy, page-157

Hi All.

The last SPP was to replenish operational funds and to invest in a series of capital outlays to accelerate and secure Hellyer’s long-term future."
Yes. “Secure Hellyer’s long-term future” !!! Well it did not work out that way did it.

On 08/09/2008 Intec announced "Suspension of Operations at Hellyer"

Intec did however use the cash raised to “Secure Hellyer’s long-term future” !!! Intec up-graded the electrical supply to cope with the expected usage of the new plant, it up-graded the dredge, it stored EAF dust at Hellyer and refurbished the storage shed but then the precipitous fall in metal prices hit with a killer blow.
By now Intec had assumed full control of the mill and the mill was making a loss so Care and Maintenance was tried but the mill was costing $70,000 to $80,00 a month on C&A. Intec could not afford that cash drain so the only alternative was to sell the mill. Now Intec is in survival mode but seems well placed to survive.

Intec is not the only company selling or shutting up mills, plants, refineries. Shareholders already know about Mayfield and Ausmelt plants because Intec has been looking hard at these plants. However even BHP's Nickel refinery in Townsville looks to be on the chopping block so fire sales abound.

Comments such as "They can see the writing on the wall. It is no wonder they are trying so hard by employing a call centre to make sure your mail did not go astray" is, in my opinion, not correct.

Only time will tell who is correct. Will it be the "positives" or the "negatives". It will be an interesting wait.

Cheers.