SCIDEV LTD — Capital/Financing Update 2010

Jan 6, 2010

ABN 25 001 150 849

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

Phone: 02-9925 8170 Fax: 02-9925 8110 Email: mail@intec.com.au Website: www.intec.com.au ASX code: INL

Companies Announcements Office Australian Securities Exchange

7 January 2010

Update on Green Resources Liuzhou Project (with Appendix 3B)

Intec Ltd (ASX code: INL) advises that on 5 January 2010 it received notice from Green Resources (Asia Pacific) Holding Limited (“Green Resources”) of completion of Chinese and Hong Kong financing for Stage 1 of the Subscription Agreement with INL announced on 5 November 2009.

As part of Stage 1 of the Subscription Agreement, INL is investing RMB2 million (A$324,891.54) in Green Resources, which funds are satisfied by the issue of 21,659,436 Intec ordinary shares at a price of A$0.015 each to investors nominated by Green Resources as set out in the attached Appendix 3B. These and other funds will be applied by Green Resources to complete the feasibility study for the previously announced 50,000 tpa metalliferous furnace dust project in Liuzhou City (“Liuzhou Project”).

As noted by Joe Lam, Intec’s Chinese Representative and a Director of Green Resources: “Green Resources has finalised the agreements with the Hong Kong and China based investors, such that its required funding for the implementation of the first phase of the Liuzhou Project is now secured in principle, subject to the expected favourable outcomes of the feasibility study.

In addition, Green Resources technical and management team have been working at the Liuzhou Project plant site (approximately 13,000m[2] ) since early December 2009. It is expected that the feasibility study will be completed during the second quarter of 2010.”

The Liuzhou Project will initially treat 50,000 tonnes per annum of furnace dusts from Liugang. The dust contains iron (25%), carbon (30%), zinc (7%), lead (1.5%), and indium (250 ppm). The treatment plant will produce high purity zinc oxide, lead sulphide and indium metal for sale to external parties, along with high purity hematite and carbon for sale to Liugang for re-use in the blast furnaces.

To commence production within two years, this will be the largest commercial-scale application of the Intec Process to date and economic modelling is strongly positive. The plant will thus also act as a clear demonstration of the economic and environmental advantages of the Intec Process for both the processing of industrial wastes and mineral concentrates and ores.

Appendix 3B New issue announcement

Intec Ltd

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:

• a) the Company issued the Securities without disclosure to investors under Part 6D.2 of the Act;

• b) as at 7 January 2010 the Company has complied with the provisions of Chapter 2M of the Act as they apply to the Company, and section 674 of the Act; and

• c) as at 7 January 2010 there is no information:

• i) that has been excluded from a continuous disclosure notice in accordance with the ASX Listing Rules; and

• ii) that investors and their professional advisers would reasonably require for the purpose of making an informed assessment of:

  • A) the assets and liabilities, financial position and performance, profits and losses and prospects of the Company; or

  • B) the rights and liabilities attaching to the Securities.

Yours faithfully Intec Ltd

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Philip R Wood

Managing Director and Chief Executive Officer

About Intec Ltd

Intec Ltd is an Australian company which owns the Intec Process for superior and sustainable metals production. The Intec Process comprises a set of patented chloride-based hydrometallurgical processes that have been demonstrated to produce high purity base and precious metals from concentrates of sulphide and oxide ores, tailings and industrial wastes. The Intec Process has substantial environmental and cost advantages over both the widely used conventional smelting and refining processes and other known hydrometallurgical processes.

Intec’s proposed Chinese and Australian projects follow Intec’s very successful demonstration of the use of its specialised reagents and technology for the environmentally and economically superior recovery of heavy metals from liquid and sludge industrial waste feedstocks.

It is expected that Intec’s intellectual property derived from its waste metals recovery technology will have broad application for industrial waste water, mine tailings water and waste sludge treatment, both nationally and internationally.

Appendix 3B New issue announcement

Intec Ltd

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 to Fully paid ordinary shares be issued

• 2 Number of[+] securities issued or to 21,741,137 ordinary shares. be issued (if known) or maximum number which may be issued

• 3 Principal terms of the[+] securities Ordinary shares. (eg, if options, exercise price and expiry date; if partly paid +securities, the amount outstanding and due dates for payment; if +convertible securities, the conversion price and dates for conversion)

Appendix 3B Page 3

Appendix 3B New issue announcement

Intec Ltd

4 Do the[+] securities rank equally in The ordinary shares will be quoted and rank equally all respects from the date of allotment with an existing[+] class of with Intec’s currently quoted ordinary shares. quoted[+] securities? If the additional securities do not rank equally, please state:

• the date from which they do

• the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment

• the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment

• 5 Issue price or consideration

$331,427.62 in total

6 Purpose of the issue Issued on placement of shares to investors nominated by (If issued as consideration for the Green Resources (Asia Pacific) Holding Limited, as set acquisition of assets, clearly out in the announcement dated 5 November, 2009 identify those assets) (21,659,436 shares); Issued on exercise of INL 8ct options expiring 31 December 2009 (81,701 shares).

• 7 Dates of entering[+] securities into uncertificated holdings or despatch of certificates

7 January 2010

Number +Class 8 Number and +class of all 871,893,316 Ordinary Shares +securities quoted on ASX ( including the securities in clause 2 if applicable)

9 Number and +class of all +securities not quoted on ASX (_including_the securities in clause 2 if applicable)	Number	+Class
	1	Convertible Note (as 1 of possible 2 Convertible Notes under Convertible Note facility). Original value US$1.5 million, US$500,000 drawn down and US$130,267 converted. Balance of Convertible Note drawn down is US$369,733.
	5,869,014	24 February 2010 Options – exercise price $0.069
	7,210,000	31 August 2011 Options – exercise price $0.11
	4,700,000	25 September 2012 Options – exercise price $0.15

Appendix 3B Page 4

Appendix 3B New issue announcement

Intec Ltd

10 Dividend policy (in the case of a trust, distribution policy) on the increased capital (interests)	6,350,000	25 September 2012 Options – exercise price $0.15 These options will not vest, and may not be exercised, until the Trigger Price Threshold of $0.25 is met. To meet the Trigger Price Threshold, the price of Intec Ltd shares traded on the Australian Securities Exchange must have closed above $0.25 for 20 consecutive trading days or Intec Ltd must have received a bona fide offer for a majority or all of its shares whether by takeover or scheme of arrangement.
	The newly issued shares rank equally with the existing shares.

Part 2 - Bonus issue or pro rata issue

11 Is security holder approval required? to 33

Questions 11 to 33 are not applicable.

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

35[If the ][+][securities are ][+][equity securities, the names of the 20 largest holders of the additional ][+][securities, ] and the number and percentage of additional[+] securities held by those holders

36[If the ][+][securities are ][+][equity securities, a distribution schedule of the additional ][+][securities setting out ] the number of holders in the categories 1 - 1,000 1,001 - 5,000 5,001 - 10,000 10,001 - 100,000 100,001 and over 37[A copy of any trust deed for the additional ][+][securities ]

Appendix 3B Page 5

Appendix 3B New issue announcement

Intec Ltd

Entities that have ticked box 34(b)

38 Number of securities for which Questions 38 to 42 are not applicable to +quotation is sought 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 724 or section 1016E of the Corporations Act does not apply to any applications received by us in relation to any[+] securities to be quoted and that no-one has any right to return any[+] securities to be quoted under sections 737, 738 or 1016F of the Corporations Act at the time that we request that the[+] securities be quoted.

• We warrant that if confirmation is required under section 1017F of the Corporations Act in relation to the[+] securities to be quoted, it has been provided at the time that we request that the[+] securities be quoted.

• If we are a trust, we warrant that no person has the right to return the[+] securities to be quoted under section 1019B of the Corporations Act at the time that we request that the[+] securities be quoted

• 3 We will indemnify ASX to the fullest extent permitted by law in respect of any claim, action or expense arising from or connected with any breach of the warranties in this agreement.

• 4 We give ASX the information and documents required by this form. If any information or document not available now, will give it to ASX before[+] quotation of the[+] securities begins. We acknowledge that ASX is relying on the information and documents. We warrant that they are (will be) true and complete.

Sign here:

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Date: 7 January 2010

(Director/ ~~Secretary)~~

Print name:

Philip R Wood

Appen3B rights issue 7 January 2010

Rule 2.7, 3.10.3, 3.10.4, 3.10.5