SCIDEV LTD — AGM Information 2006

Nov 14, 2006

ABN 25 001 150 849

Superior and Sustainable Metals Production

Gordon Chiu Building J01 Department of Chemical Engineering Maze Crescent University of Sydney NSW 2006 Australia

Phone: 02-9351-6741 Fax: 02-9351-7180 Email: mail@intec.com.au Website: www.intec.com.au ASX code: INL

15 November 2006

Companies Announcement Office Australian Stock Exchange Limited

Presentation to the 2006 Annual General Meeting of Intec Ltd To be held at 5:30pm on Wednesday 15 November 2006

Attached is a presentation to be given to shareholders at the 2006 Annual General Meeting to be held later today.

Yours faithfully Intec Ltd

Philip R. Wood

Phillip R Wood Managing Director and Chief Executive Officer

2006 agm presentation for asx

Intec Ltd Australia's Newest Zinc Producer

©2006 inter L1dMKN: 25 001 150 849

Superior and Sustainable Metals Production

Welcome to Intec's 5th Annual General Meeting as an ASX-Listed company

Date: Time: Venue:

15 November, 2006 5:30pm 'The Partners Room" Allens Arthur Robinson Lawyers Level 28, Deutsche Bank Place cnr Hunter and Phillip Streets Sydney NSW Australia

Intec Group

Introductory Remarks to Intec Shareholders $\mathbf{by}$ Ian W Ross Non-Executive Chairman

Ordinary Business

Intec Group

Resolution 1: Adoption of Financial Report

To consider and, if thought fit, to pass the following ordinary resolution:

"That the Company's Financial Report for the financial" year ended 30 June 2006 together with the related Directors' and Auditor's reports be received and adopted."

Intec Group

Summary of Proxies for Resolution 1 Financial Report

Resolution 2: Election of Director - Mr Ian W Ross

To consider and, if thought fit, to pass the following ordinary resolution:

"That Mr Ian W Ross, a Director since 2003, retiring in accordance with the Company's Constitution and being eligible for re-election, be re-elected a Director of the Company.'

Intec Group

Summary of Proxies for Resolution 2 Election of Director – Mr Ian W Ross

Resolution 3: Adoption of Remuneration Report

To consider and, if thought fit, to pass the following ordinary resolution:

"That the Company's Remuneration Report for the financial year ended 30 June 2006 be received, approved and adopted."

Intec Group

Comparison with Director and Senior Executive Remuneration surveyed in '2006 Director & Executive Remuneration' by Connect 4 Pty Ltd

Position	Intec	Average Total Remuneration Total Fixed, Bonus & Options/Shares Remuneration
		A\$100m market cap
	A\$,000	A\$,000
Non-executive Chairman	54	93
Non-executive Director	52	56
Managing Director /Chief Executive Officer	321	583
Divisional Head	249	244
Chief Financial Officer		358

Intee Group

Summary of Proxies for Resolution 3 Adoption of Remuneration Report

C2006 Inter L1dARN: 25 001 150 849

Special Business

Resolution 4: Approval of Issue of Shares

To consider and, if thought fit, to pass the following ordinary resolution:

E That pursuant to ASX Listing Rule 7.4 and for all other purposes, the Company approves the issue of Shares, at an issue price of \$0.11 per Share, by way of placements in conjunction with a Share Purchase Plan which were undertaken by the Company in May/June 2006, for the purposes and otherwise on the terms and conditions as set out in the Explanatory Statement which accompanies this Notice of General Meeting."

Intec Group

Summary of Proxies for Resolution 4 Approval of Issue of Shares

Resolution 5: Approval of Proposed Issue of Options to Macquarie Bank Ltd

To consider and, if thought fit, to pass the following ordinary resolution:

Example 1.4 That pursuant to ASX Listing Rule 7.4 and for all other purposes, the Company approves the issue of options to Macquarie Bank Ltd, on the terms summarised in the Explanatory Statement which accompanies this Notice of General Meeting."

C2006 Inter Lui ABN: 25 001 150 849

Intec Group

Summary of Proxies for Resolution 5

Approval of Proposed Issue of Options to Macquarie Bank

34,303,758
1,511,403 Against
7,246,377 Abstain
Viseretion 12,230,404 Į.
30 MH - FIRM MARIT 25 A01 150 849

Intec Group

Resolution 6a: Approval of Options for Mr Ian W Ross

To consider and, if thought fit, to pass the following ordinary resolution:

"That the Company approves the issue to Mr Ian W Ross" of 400,000 options on the terms summarised in the Explanatory Statement accompanying this Notice of General Meeting."

O2006 The Lid ABN: 25 001 150 849

Intec Group

Summary of Proxies for Resolution 6a Approval of Options for Mr Ian W Ross

38,930,897
Against 1,814,245
2,316,396 Abstain
Discretion 12,230,404

C2006 - Inter-Littl ABN: 25 001 150 849

Resolution 6b: Approval of Options for Mr Philip R Wood

To consider and, if thought fit, to pass the following ordinary resolution:

Examplementary Example 3 That the Company approves the issue to Mr Philip R Wood of 1,200,000 options on the terms summarised in the Explanatory Statement accompanying this Notice of General Meeting."

O2006 The Lid ABN: 25 001 150 849

Summary of Proxies for Resolution 6b Approval of Options for Mr Philip R Wood

Resolution 6c: Approval of Options for Mr A John Moyes

To consider and, if thought fit, to pass the following ordinary resolution:

That the Company approves the issue to Mr A John Moyes of 700,000 options on the terms summarised in the Explanatory Statement accompanying this Notice of General Meeting."

O2006 The Lid ABN: 25 001 150 849

Summary of Proxies for Resolution 6c Approval of Options for Mr A John Moves

Intec Group

Resolution 6d: Approval of Options for Mr Kenneth J Severs

To consider and, if thought fit, to pass the following ordinary resolution:

That the Company approves the issue to Mr Kenneth J Severs of 300,000 options on the terms summarised in the Explanatory Statement accompanying this Notice of General Meeting."

O2006 The Lid ABN: 25 001 150 849

Summary of Proxies for Resolution 6d Approval of Options for Mr Kenneth J Severs

	- 39,930,897
Against	1,814,245
Abstain	2,316,396
Discretion	12,230,404
The Commission of the Commission of the Commission of the Commission of the Commission of the Commission of th	$\gamma$ at $\gamma$ and $\gamma$ and $\gamma$ and $\gamma$

Intec Group

$\mathbf{by}$ Philip R Wood Managing Director & CEO and by Intec Senior Management

Presentation to Intec shareholders

Intec Group

Corporate 1.

(Philip Wood)

Hellyer Zinc Concentrate Joint Venture $2.$

(Jean-Louis Huens, Kieran Rodgers)

$\mathbf{3}_{1}$ Bass Metals (Kieran Rodgers)

Hellyer Metals Project $\boldsymbol{4}$ .

(John Moyes, Mick Ryan, Andrew Tong) External Client Interest (Ken Severs) Website (Dave Sammut)

O2006 Three Lid ABN: 25 001 150 849

W. Summary

5

n.

(Philip Wood)

Intec Group

Intec Share Price and Trading Volumes

Intec Group

Shares:
---------	--

• Options (weighted average exercise) price of 12ct):
• Market Capitalisation ( $\omega$ 19.5 cts):
• MBL working capital facility: $\blacksquare$ :
• Bass Metals Ltd:
• Major INL shareholders: Ivanhoe Mines: Kizoz Pty Ltd: Board & Management: Alliance Resources:
• Macquarie Bank:
• 2,260 shareholders

555.45 million

$92.81$ million A\$108 million A\$4.5 million (un-drawn) 18.4 $\%$ interest

$9.8\%$ $4.5\%$ $2.0\%$ $1.4\%$ $1.3\%$

C2006 - Inter-Littl ABN: 25-001-150-849

Intee Group

2. Hellyer Zinc Concentrate Joint Venture with Polymetals

C2006 - Inter-Littl ABN: 25-001-150-849

• Operational Update
• Financial Projections

(Jean-Louis Huens) (Kieran Rodgers)

Intec Group

The Intec Hellyer Mill has been restarted via the Hellyer Zinc Concentrate Project, a 50/50 joint venture with Polymetals

Intec Group

The Hellyer Zinc Concentrates Project is the first and only new producer of zinc in Australia

for 2006

C2006 - Inter-Littl ABN: 25 001 150 849

Aerial View of Hellyer Project Site

Road & Rail

Access

Tailings Dam 50 hectares Shale pit for:

toil treatment residues

Electricity Grid

15 Mipa Hellyer Mill

Hellyer Tailings Resource - 11Mt

Element	Grade	Quantity	In-situ US\$m*	$\%$ of metal value
Zinc	$2.8\%$	305,000t	1,285	$45\%$
Lead	$3.0\%$	330,000t	489	$17\%$
Silver	$88 \text{ g/t}$	30,850,000 ozs	396	14%
Gold	$2.6 \text{ g/t}$	910,000 ozs	580	20%
Copper	$0.16\%$	17,400t	119	$4\%$
INGRI			\$2,870	100%

* US\$ metal prices at 14 November 2006

Intec Group

Hellyer Zinc Concentrate Joint Venture

- Operational Update

• All commissioning complete
• Ramping up production. Already at $70\%$ of design.
• Flawless operation
• $\blacksquare$ Dredge mining at a depth of 7 metres
• 10,000 tonnes mined O
• Mined material in line with expectation
• No metallurgical issues
• Tailings grade improving. Currently up to 2.8% Zn. L

Intec Group

Hellyer Zinc Concentrate Joint Venture $-$ Product

• Concentrate filtration to commence next week
• With one of the four flotation trains on standby, achieving better than design outcomes
• 39% concentrate zinc grade for 1.9% feed
• Low level of impurities
  • Could increase revenue by nearly \$1m per year
  • Increase concentrate marketability

Intec Group

Springtime at the Hellyer site

Hellyer Zinc Concentrate Joint Venture

• Commercial Framework
• Unincorporated 50/50 JV formed with Polymetals Group
• Polymetals as Operator required to spend A\$6 million to earn 50% JV interest
• All Hellyer assets remain the property of Intec at all times Į.
• Life of JV encompasses the treatment of 6 million tonnes of İ Hellyer tailings
• Following which, Intec has the right to acquire Polymetals Li 50% interest for A\$1

Production Parameters & Off-take Arrangements

• Initial throughput of 1.5Mtpa tailings to produce $\sim 65,000$ tpa bulk-zinc concentrate grading:
• 40-43% Zinc, 7-10% Lead $&\sim 200 \text{g/t} \text{ silver}$
• $\blacksquare$ First 5,000 tonne shipment expected end of December
• Off-take contracts in place with Chinese smelters:
• a) 20,000tpa for three years
• b) $20,000$ tpa for two years
• $\blacksquare$ Further three-year 5,000tpa contract under negotiation
• Remainder of production to be sold at spot price

Financial Projections for HZCP 'Base Case'

• 50% JV interest $@$ 1.5Mtpa
• Key financial drivers:

• zinc price

• concentrate treatment charge

Zinc Price US\$/lb	0.90	1.50	1.90
USS/AS	0.74	0.75	0.77
Revenue ASm	34.5	54.5	67.0
Operating Costs ASm	25.0 Providence	30.0	30.5
EBITDA ASm		24.5	36.5

Potential Growth Initiatives

• 1. Increase tailings throughput to 2Mtpa
• 1. Utilise regional dominance of Hellyer Mill for treatment of third party ore:

O2006 Three Lid ABN: 25 001 150 849

• Bass Metals' Que River Project (discussions underway)

• Approaches received from two other parties

• Blend EAFD with concentrate

42

3. Bass Metals

(Kieran Rodgers)

Intec Group

@2006_inter | 1d ARN: 25 001 150 849

Intec Group

Bass Metals Share Price and Trading Volumes

Bass Metals

Largest tenement position in one of the most mineralised geological provinces in the world

• 1. Que River Base Metal Project
• high margin mine development
• 1. Mt Charter
• shallow large scale Au-Ag $(+Zn)$ project
• 1. Zinifex Exploration Alliance
• "New Hellyers"
• 1. Dominant regional tenement holder
• $-60+$ targets

Intec Group

4. Hellyer Metals Project

• Demonstration Plant
• Feasibility Study
• EAFD Stockpile & Zeehan Residues

(Philip Wood)

(John Moyes)

(Mick Ryan)

Treatment Options & Proposals

(Andrew Tong)

Intec Group

2006: Successful Operation of the Burnie Demonstration Plant

• Steady state operation achieved on Hellyer tailings $\&$ EAFD
• Zinc, lead and silver recoveries excellent
• Copper and gold recoveries below specification

• Zeehan Slag trial successfully completed

• Zinc cathodes from steady state campaign melted to ingot and sold to Smorgon Steel for their galvanising operations

• $\blacksquare$ Zinc ingot has consistently been significantly better than Prime Western Grade (PWG)

C2006 The LRABY: 25 001 150 849

Intec Group

Progress from the Burnie Demonstration Plant

• Demonstration Plant report due January 2007
• Demonstration results are being incorporated into the Project Study

O2006 Three Lid ABN: 25 001 150 849

• As part of the study, WorleyParsons are updating:
• Process design criteria
• Flowsheet diagrams
• Mass and energy balance

Intec Group

Potential Improvements Resulting from the Demonstration Plant Operation

• Pressure leaching is being considered to improve oxygen utilisation to leach Hellyer tailings

C2006 Inter Lui ABN: 25 001 150 849

• Improved equipment for lead cement product
• Improved copper recovery circuit
• Potential for economic recovery of minor elements

Intee Group

80_km road and rail access from project to port

Intee Zechan Residues

C2006 Inter L1dARN: 25 001 150 849

. EAFD from the Mainland

Burnie deepwater port IHM demonstration plant

Intec Hellyer Metals Project Hellyer Zinc Concentrate Project

2006 Zinc Resource Acquisitions

• In April 2006, Intec received a A\$2.42m treatment fee from Smorgon Steel for taking over its 20,500 tonne Electric Arc Furnace Dust stockpile (grading 27% zinc) in western Melbourne
• $\blacksquare$ In October 2006, Intec acquired all of the shares of Encore Metals NL which is the registered licence holder of the 460,000 tonne stockpile of Zeehan Residues (grading 15% zine equivalent) in consideration for issuing 20 million Intee shares and the future right to acquire a further 20m Intec shares at 18 cents each

Intec Group

EAFD Storage Shed, Footscray West, Melbourne

Intec Group

Zeehan Residues, Tasmania

Intec Zeehan Residues

• Century-old lead smelter slags
• 90 km by road from Hellyer
• $\blacksquare$ 460,000 tonnes, grading:
• 13.4% zinc 1.7% lead $54g/t$ silver $50g/t$ indium
• Acquired via agreement with Encore Metals NL in October 2006
• Metallurgical synergies when co-treated with EAF dust

Treatment Options & Proposals

• Feedstock: EAFD & Zeehan slags
• 10,000 tonnes per annum zinc units • Output:
• $\blacksquare$ Use lower capital and operating costs
• Product Options: Zinc metal and/or zinc chemicals $(ZnO)$

O2006 Three Lid ABN: 25 001 150 849

• $\bullet$ for sale at a premium to LME
• Fast development pathway

5. External Client Interest

(Ken Severs)

Intec Group

@2006_inter Ltd ABN: 25 001 150 849

Intec Group

1. Website

(Dave Sammut)

@2006_inter | 1d ARN: 25 001 150 849

Intec Group

www.intec.com.au

@2006_inter | 1d ARN: 25 001 150 849

Intec Group

1. Summary

Intec's 3-Stage Strategy for Hellyer

• HZCP producing concentrate from tailings 1.
• Production of zinc units from EAFD & Zeehan $2.$ residues
• Integrated resource-to-metals project $3.$
• Continued Intec technologies commercialisation

Intec Group

Intec now welcomes our shareholders to join us for refreshments in the adjacent room, and for dinner at the nearby Noble House Chinese Restaurant.