SCIDEV LTD — Capital/Financing Update 2010

Sep 12, 2010

ABN 25 001 150 849

Superior and Sustainable Metals Production

Level 3 2 Elizabeth Plaza North Sydney NSW 2060 Australia PO Box 1507 North Sydney NSW 2059 Australia

Phone: 02-9954 7888 Fax: 02-8904 0334 Email: mail@intec.com.au Website: www.intec.com.au ASX code: INL

13 September 2010

Companies Announcements Office Australian Securities Exchange

Appendix 3B and Notice in accordance with Section 708A(5)(e) of the Corporations Act

Secondary Trading Exemption

The Corporations Act (the Act) restricts the on-sale of securities issued without disclosure, unless the sale is exempt under section 708 or 708A. By the Company giving this notice, a sale of the Securities noted above will fall within the exemption in section 708A(5) of the Act.

The Company hereby notifies ASX under paragraph $708A(5)(e)$ of the Act that:

• the Company issued the Securities without disclosure to investors under Part 6D.2 of the Act; a)
• as at 13 September 2010 the Company has complied with the provisions of Chapter 2M of the $b)$ Act as they apply to the Company, and section 674 of the Act; and
• as at 13 September 2010 there is no information: $\mathbf{c}$
  • $i)$ that has been excluded from a continuous disclosure notice in accordance with the ASX Listing Rules; and
  • $\overline{ii}$ that investors and their professional advisers would reasonably require for the purpose of making an informed assessment of:
    • the assets and liabilities, financial position and performance, profits and losses and $\mathbf{A}$ prospects of the Company; or
    • the rights and liabilities attaching to the Securities. $B)$

Yours faithfully Intec Ltd

Philip R. Wood

Philip R Wood Managing Director and Chief Executive Officer

Appendix 3B

New issue announcement, application for quotation of additional securities and agreement

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 1/7/96. Origin: Appendix 5. Amended 1/7/98, 1/9/99, 1/7/2000, 30/9/2001, 11/3/2002, 1/1/2003.

Name of entity

Intec Ltd

ABN

/

25 001 150 849

We (the entity) give ASX the following information.

Part 1 - All issues

You must complete the relevant sections (attach sheets if there is not enough space).

1	+Class of +securities issued or tobe issued	Ordinary shares.
2	Number of +securities issued or tobe issued (if known) or maximumnumber which may be issued	4,255,319 ordinary shares.
3	Principal terms of the +securities(e.g., if options, exercise price andexpirydate;ifpartlypaid+securities, the amount outstandingand due dates for payment; if+convertiblesecurities,theconversion price and dates forconversion)	Ordinary shares.
4	Do the +securities rank equally inall respects from the date ofallotment with an existing +class ofquoted +securities?If the additional securities do notrank equally, please state:•the date from which they do•theextenttowhichtheyparticipateforthenextdividend, (in the case of a trust,distribution)orinterestpayment•the extent to which they do notrank equally, other than inrelation to the next dividend,distribution or interest payment	The ordinary shares will be quoted and rank equallywith Intec's currently quoted ordinary shares.

Appendix 3B New issue announcement Intec Ltd

5	Issue price or consideration	US$36,940 in total
6	Purpose of the issue(If issued as consideration for theacquisitionofassets,clearlyidentify those assets)	Issued on partial conversion of the Convertible Notebetween INL and La Jolla Cove Investors, Inc., as setout in the announcement dated 17 November, 2009.
7	Dates of entering +securities intouncertificated holdings or despatchof certificates	9 September 2010
		Number	+Class
8	+classNumberandofall+securitiesquotedonASX(including the securities in clause2 if applicable)	128,994,323	Ordinary Shares
		Number	+Class
		2	Convertible Notes. Original valueUS$3.0 million, US$2,250,000 drawndown and US$1,661,709 converted.Balance of Convertible Notes drawndown is US$588,291.
9	+classNumberandofall+securities not quoted on ASX(including the securities in clause2 if applicable)	721,000	31 August 2011 Options – exercise price$1.10
		470,000	25 September 2012 Options – exerciseprice $1.50
		635,000	25 September 2012 Options – exerciseprice $1.50These options will not vest, and may notbeexercised,untiltheTriggerPriceThreshold of $2.50 is met. To meet theTrigger Price Threshold, the price of IntecLtdsharestradedontheAustralianSecuritiesExchangemusthaveclosedabove $2.50 for 20 consecutive tradingdays or Intec Ltd must have received abona fide offer for a majority or all of itsshares whether by takeover or scheme ofarrangement.

10 Dividend policy (in the case of a trust, distribution policy) on the increased capital (interests)

The newly issued shares rank equally with the existing shares.

Part 2 - Bonus issue or pro rata issue

11 Is security holder approval required? Questions 11 to 33 are not applicable.

to 33

Part 3 - Quotation of securities

You need only complete this section if you are applying for quotation of securities

34 Type of securities (tick one)

(a) √ Securities described in Part 1

(b) All other securities

Example: restricted securities at the end of the escrowed period, partly paid securities that become fully paid, employee incentive share securities when restriction ends, securities issued on expiry or conversion of convertible securities

Entities that have ticked box 34(a)

Additional securities forming a new class of securities

Tick to indicate you are providing the information or documents

Entities that have ticked box 34(b)

38to	Number of securities for which+quotation is sought	Questions 38 to 42 are not applicable
42

Quotation agreement

• 1 +Quotation of our additional +securities is in ASX's absolute discretion. ASX may quote the +securities on any conditions it decides.
• 2 We warrant the following to ASX.
  • The issue of the +securities to be quoted complies with the law and is not for an illegal purpose.
  • There is no reason why those +securities should not be granted +quotation.
  • An offer of the + securities for sale within 12 months after their issue will not require disclosure under section 707(3) or section 1012C(6) of the Corporations Act.

Note: An entity may need to obtain appropriate warranties from subscribers for the securities in order to be able to give this warranty

• Section received return a at the ti n 724 or sect d by us in r any +securitie ime that we r tion 1016E relation to an es to be quot request that t of the Corpo ny +securitie ted under sec the +securitie orations Act s to be quot ctions 737, 7 es be quoted. t does not ap ted and that 738 or 1016F pply to any no-one has F of the Corp applications any right to porations Act sotg
• We warr the +secu quoted. rant that if con urities to be qu nfirmation is r uoted, it has b required unde been provided er section 1017 d at the time th 7F of the Corp hat we request porations Act t that the +secu in relation to urities be
• If we are section 1 e a trust, we w 1019B of the C warrant that no Corporations o person has th Act at the tim he right to retu me that we requ urn the +secur uest that the + rities to be quo securities be q oted under quoted
• 3 We from will indemnif m or connected fy ASX to the d with any bre fullest extent each of the wa t permitted by arranties in thi y law in respec is agreement. ct of any claim m, action or ex xpense arising
• 4 We avai rely give ASX the ilable now, wi ying on the inf e information ill give it to A formation and and documen ASX before +qu documents. W ts required by uotation of th We warrant th y this form. If e +securities b hat they are (w f any informat begins. We ac will be) true an tion or docum cknowledge th nd complete. ment not hat ASX is

Sign here:

D Date: 1 3 Septembe er 2010

/Secretary)

(Director/

Print name:

Philip R R Wood

Appendix 3B 13 3 September 2010 0

Rule 2.7, 3.10. .3, 3.10.4, 3.10 .5