SCIDEV LTD — Interim / Quarterly Report 2008

Oct 29, 2008

ABN 25 001 150 849

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

Companies Announcements Office 30 October 2008 Australian Securities Exchange

September 2008 Quarterly Activities Report

Appendix 4C

On behalf of Intec Ltd (ASX code: INL, or the Company), I now attach the September 2008 Quarterly Cashflows Report for Entities Admitted on the Basis of Commitments (Appendix 4C).

Intec Metals Recycling Project

The INL Board today formally approved the Company entering into the finalised legal documentation in respect of the transaction envisaged in INL's announcement of 23 September 2008. Thus it is expected that the relevant agreement will be formally executed before the close of business on Friday 31 October 2008 as previously announced.

However, due to the foreign jurisdictional public reporting and disclosure requirements of the other party involved, details of the transaction will be released to the ASX early next week. INL's full September 2008 Quarterly Operational Activities Report will then be lodged immediately thereafter.

Cash Position

The Company's cash balance at 30 September 2008 was A$2,044,000.

Yours faithfully Intec Ltd

Philip R Wood Managing Director and Chief Executive Officer

Rule 4.7B

Appendix 4C

Quarterly report for entities admitted on the basis of commitments

Introduced 31/3/2000. Amended 30/9/2001

Quarter ended ("current quarter")
30 September 2008

Consolidated statement of cash flows

Cash flows related to operating activities	Current	Year to date
	quarter	(3 months)
	$A'000	$A'000
1.1 Receipts from product sales and related debtors	5,648	5,648
1.2 Payments for
(a) advertising and marketing	(4)	(4)
(b) hydrometallurgical process development	(417)	(417)
(c) HZCP joint venture costs	(4,518)	(4,518)
(d) administration costs and corporate overheads	(2,148)	(2,148)
1.3 Dividends received	-	-
1.4 Interest and other items of a similar nature received	40	40
1.5 Interest and other costs of finance paid	(121)	(121)
1.6 Income tax rebate received	-	-
1.7 Other income	160	160
Net Operating Cash Flows	(1,360)	(1,360)
Net Operating Cash Flows (brought forward)	(1,360)	(1,360)
Cash flows related to investing activities
1.8 Payment for purchases of:
(a) prospects	-	-
(b) equity investments	-	-
(c) other fixed assets	(736)	(736)
1.9 Proceeds from sale of:
(a) prospects	-	-
(b) equity investments	-	-
(c) other fixed assets	-	-
1.10 Loans to other entities	(11)	(11)
1.11 Loans repaid by other entities
1.12 Other (provide details if material) - security deposits	(756)	(756)
Other (provide details if material) - security deposits repaid
Net investing cash flows	(1,503)	(1,503)
1.13 Total operating and investing cash flows	(2,863)	(2,863)

Cash flows related to financing activities	Currentquarter$A'000	Year to date(3 months)$A'000
1.14 Proceeds from issues of shares, options, etc.1.15 Proceeds from sale of forfeited shares	86	86
1.16 Proceeds from borrowings1.17 Repayment of borrowings
1.18 Dividends paid1.19 Other (provide details if material)- share issue costs	(394)	(394)
Net financing cash flows	(308)	(308)
Net increase (decrease) in cash held	(3,171)	(3,171)
1.20 Cash at beginning of quarter/year	5,215	5,215
1.21 Exchange rate adjustments to item 1.20
1.22 Cash at end of quarter/year	2,044	2,044

Payments to directors of the entity and associates of the directors Payments to related entities of the entity and associates of the related entities

1.23 Aggregate amount of payments to the parties included in item 1.2	314
1.24 Aggregate amount of loans to the parties included in item 1.10	-

1.25 Explanation necessary for an understanding of the transactions Salaries, Directors fees and consultancy fees at normal commercial rates.

Non-cash financing and investing activities

2.1 Details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve cash flows Nil

Nil

2.2 Details of outlays made by other entities to establish or increase their share in projects in which the reporting entity has an interest Nil

Financing facilities available

Add notes as necessary for an understanding of the position.

	Amount	Amount
	available	used
	$A'000	$A'000
3.1 Loan facilities	5,000	5,000
3.2 Credit standby arrangements	Nil	Nil

Reconciliation of cash
Reconciliation of cash at the end of the quarter (as shown in the	Current	Previous
consolidated statement of cash flows) to the related items in the	quarter	quarter
accounts is as follows.	$A'000	$A'000
5.1 Cash on hand and at bank	2,044	5,215
Deposits at call	-	-
Bank overdraft	-	-
Other - 30 day bank bills	-	-
Total: cash at end of quarter (item 1.22)	2,044	5,215

Compliance statement

• 1 This statement has been prepared under accounting policies which comply with accounting standards as defined in the Corporations Act (except to the extent that information is not required because of note 2) or other standards acceptable to ASX.
• 2 This statement does/does not give a true and fair view of the matters disclosed.

(Director/Company Secretary)

Sign here: Date: 30 October 2008

Print name: Philip R Wood

Notes

• 1. The quarterly report provides a basis for informing the market how the entity's activities have been financed for the past quarter and the effect on its cash position. An entity wanting to disclose additional information is encouraged to do so, in a note or notes attached to this report.
• 1. The definitions in, and provisions of, AASB 1026: Statement of Cash Flows apply to this report except for the paragraphs of the Standard set out below.
  • 6.2 reconciliation of cash flows arising from operating activities to operating profit or loss
  • 9.2 itemised disclosure relating to acquisitions
  • 9.4 itemised disclosure relating to disposals
  • 12.1(a) policy for classification of cash items
  • 12.3 disclosure of restrictions on use of cash
  • 13.1 comparative information
• 1. Accounting Standards. ASX will accept, for example, the use of International Accounting Standards for foreign entities. If the standards used do not address a topic, the Australian standard on that topic (if any) must be complied with.