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J.Fo

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Hi All.

 

Don't expect any announcement from Intec any time soon today; even the Preliminary Annual.

 

The first ASX release was at 8.20 today and they flowed thick and fast. ASX postings are still running at 20 per 9 minutes so there will be one big backlog. Looks like another after hours posting on the ASX.

 

Cheers.

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In reply to: mango63 on Friday 29/08/08 10:59am

RE: IMRP News

Hi Dave,

Is our encouraging announcement alluded to above being released today? Or is it another wait for the patient Intec shareholders? Cheers

 

Posted By

Dave Sammut, Intec Ltd Posted 29 August 2008

As we indicated above, we would prefer to have the announcement out this month, but as it turns out that will not be possible. But it's not another wait - it's the same wait as before. Thanks for your patience.

This answers it for us Mango

Only the financial report coming today!!!

V1

 

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In reply to: veeone on Friday 29/08/08 12:24pm

Hi Veeone.

 

Any work by a third party can have time over-runs so expect the report from ASCI and GHD when it comes.

 

Any negotiations where money and or control are on the line also takes unexpected twists and turns. That is; read delays.

 

Philip Wood is a shrewd negotiator as he has proven in the past so give him time to settle this one.

 

As far as making a statement regarding when news would be released about the IMRP one can only say he expected it to be true. Further the release was what share holders, and non-shareholders wanted. Pressure, pressure, pressure.

 

Oh well you can't please some people and even though it is disappointing that the release won't be made today the Company has not said that they have abandoned the IMRP up-date. Therefore expect it sometime soonish.

 

Cheers.

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During the year to 30 June 2008, the Group participated in the Hellyer Zinc Concentrate Project (HZCP) via a 50/50 joint venture with Polymetals (Hellyer) Pty Ltd, which produces a bulk zinc concentrate by recovering tailings from the Hellyer tailings dam for re-treatment in the Intec Hellyer Mill.

Due to the significant fall in the global zinc price and current market conditions, the Directors recognised an impairment expense of approximately $2.7 million against the recoverability of the investment in Intec Zeehan Residues Pty Ltd. Similarly, the equity accounted investment of Bass Metals Ltd was written down to its fair market value at 30 June, 2008 resulting in an impairment expense of $1.2 million. Therefore, before impairment adjustments, the Group reported an operating profit after tax of $1.1 million and after adjustments reported a loss of $2.8 million.

The Group continues to generate income through its participation in HZCP, over which it has now assumed full ownership and operational control for nominal consideration and subject to reconciliation of joint venture financial accounts at the 1 August, 2008 change over date. Final reconciliation may or may not result in the Group making a payment to Polymetals (Hellyer) Pty Ltd.

The HZCP produced 52,788 tonnes of concentrate during the twelve (12) months to 30 June, 2008.

The Group also continued commercialisation of the Intec Processes, including the operation of the Burnie demonstration plant and completion of related studies.

Revenue from continuing operations $27,202,000 Last Year $9,564,000 http://www.sharescene.com/html/emoticons/icon13.gif

Next year http://www.sharescene.com/html/emoticons/icon14.gif Expect at least double this and expect a good slice to be profit!!!

Seems all good for the operations of the company. Not so much doom and gloom

Next bring on some news for the MRP!!!

V1

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QUOTE (healyn @ Saturday 30/08/08 02:09pm)

I can't believe it no posts for a couple of days. The "silence" is "deafening" but much appreciated. Let's all look forward to PW's much anticipated announcement/s. http://www.sharescene.com/html/emoticons/smile.gif

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