Forum Archive Index - March 2004

["Cristine Kerr" <criskerr@optusnet.com.au>]

INL - Intec UPDATE: Half-Year Report released Friday 27Feb'04

 

Revenue UP 180% to $543,174

 

Net Loss DOWN 13% to $1,056,855

 

Events During & Subsequent:

 

Newly-designed and patented electrowinning cell for Intec Copper Process was operated at commercial scale to produce several tonnes of dendritic copper product. The compacted dendrites were shipped to Rautomead International in Scotland and successfully converted into oxygen-free copper wirerod.

 

IGP (Intec Gold Process) Pilot Plant was constructed on time and on budget and a pre-commissioning campaign was successfully carried out during the quarter.

 

$1.4M R&D Start Grant for IGP pilot plant which is presently treating polymettalic tailings (numerous metals) from 100% acquired Hellyer Metals Project.

 

20Feb - Intec placed 15M shares privately at 11c to raise $1.65M

 

Note 5 - Segment Information: The consolidated entity operates in one business segment and geogrpahical segment only, being research, development and commercialisation of its hydrometallurgical technology in Australia.

 

This is all great news.

 

My main concerns with INL at present follow:

 

1) recent private placement which undervalued my personal holding - have been turning over on increases and therefore had an average buy price of 12c

 

2) 23,965,992 restricted shares (24mths from listing date which was 29/4/2002) being released from escrow - NB last year's date was 2/5/03 - a look at last year's share price graph at this time indicates we can expect a drop in share price, however; this year will be a very different story to last year - the company has made significant progress, has made a significant acquisition and is far better placed in terms of producing revenue.

 

Under present conditions, I have decided to sell, wait and watch for re-entry.

 

Regards,
Cris

----- Original Message -----

From: Cristine Kerr

To: sharechat@sharechat.co.nz

Sent: Thursday, February 26, 2004 9:52 AM

Subject: Re: [sharechat] INL - Intec

Due to large private shareholder placement at 11c and possible profit-taking to 11.5c, Intec may experience some fluctuation for a time.