SCIDEV LTD — Interim / Quarterly Report 2011

Oct 12, 2010

Appendix 4C Quarterly report for entities admitted on the basis of commitments

ABN 25 001 150 849

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

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

Companies Announcements Office 13 October 2010 Australian Securities Exchange

Quarterly Activities Report: Appendix 4C September 2010

On behalf of Intec Ltd (ASX code: INL, or the Company), I now attach the September 2010 Quarterly Report for Entities Admitted on the Basis of Commitments (Appendix 4C).

Highlights

• Phase 2 trials commence this month at Intec’s Demonstration Plant in Burnie for the spent pickle liquor recycling project. Operations will continue during November, and will be concluded during the December 2010 quarter.

• These operations follow from a period of engineering, design and construction that has been underway since the June 2010 quarter.

• Intec’s China-based associate, Green Resources, has ceased development of the Liuzhou Steel Project, primarily due to significant decreases in the zinc grade of the primary steel dust residue feedstock. It is instead developing a similar project concept elsewhere in China, with further detail to be released after the selected feedstocks are formally secured.

• Intec’s work in relation to the Browns Sulphide deposit is currently awaiting results from Ammtec’s ongoing concentrate flotation testwork.

• Bass Metals Ltd has stated that its Hellyer Mine Project, from which royalties capped at $5 million are payable to Intec at a rate of $2.50 per tonne throughput, has been brought forward “to complete all of the plant commissioning prior to Christmas and… start treating Fossey ore early in the New Year 2011”.

• Allowing for ramp-up of the Hellyer Mill during the March 2011 quarter, and for lag in the payment of royalties by BSM, Intec does not expect to receive meaningful cash flow from royalty payments until mid-2011.

• The Company’s total cash available at the end of the quarter was $29,000.

Appendix 4C Page 1

13/10/2010

Appendix 4C Quarterly report for entities admitted on the basis of commitments

Operations Update

Burnie Research Facility

The team at Intec’s Burnie Demonstration Plant will this month ‘flick the switch’ on Phase 2 commercial trials of the spent pickle liquor recycling technology. These operations follow from the success of the Phase 1 pilot plant trials in Sydney, and extensive engineering, design and construction work that has been conducted during the intervening months.

The first tranche of the total 50,000 litres of spent pickle liquor from Intec’s Victorian project partner, GB Galvanizing Service Pty Ltd (GBG), has arrived at the Burnie facility, under approval from the Tasmanian EPA. The custom zinc electrowinning cell has been received and installed with all of its components, as well as the required electricity supply equipment.

Formal approval from EPA Victoria for Phase 2 of the technology development programme to recycle spent pickle liquor and other wastes from the galvanizing industry was received on 29 July 2010.

As previously announced, this technology optimisation and implementation project has been generously supported by EPA Victoria with the approval of $780,000 of HazWaste funding for the research, demonstration and engineering portion of the proposed $2.85 million project. This funding is provided through a formal agreement between EPA Victoria and GBG, with Intec paid for its development work as a contractor to GBG.

Adam Randall, Plant Manager at the Burnie Demonstration Plant, viewing a previous zinc electrowinning cell design.

It is anticipated that the current Phase 2 work will be completed in the December quarter of 2010. In 2011, if Phase 2 has confirmed its technical and economical feasibility, Phase 3 of the project will involve the construction of a full-scale spent pickle liquor recycling project at GBG’s operating site in Victoria, for the recycling of a minimum of 1,000,000 litres per annum of waste liquor.

Chinese Projects

Representatives from Green Resources (Asia Pacific) Holding Ltd came to Australia in midSeptember 2010, visiting Ammtec Ltd in Perth, Intec’s Burnie operations and Sydney head office. Discussions between the companies focussed on potential opportunities for mutual collaboration in Australia and China.

Appendix 4C Page 2

13/10/2010

Appendix 4C Quarterly report for entities admitted on the basis of commitments

Green Resources is considering and advancing several projects in China, any of which would be considered by Intec to be a significant milestone in the international uptake of the Intec Process technology. It has confirmed that Green Resources intends to implement a commercial Intec Process plant as quickly as possible.

However, Green Resources has also reported that it has concluded its investigations and development in relation to the proposed Liuzhou Steel Project. This is primarily a result of significant decreases in the zinc grade of the steel manufacturing waste which was intended to be the feedstock to the Intec Process plant in Liuzhou city, Guangxi Province. Using the data generated throughout 2010 from this work, Green Resources is instead advancing a similar project concept elsewhere in China, with further detail to be released after the selected feedstocks are formally secured.

Green Resources expects to provide further updates on its progress with its project pipeline in China during the December Quarter 2010.

Browns Sulphide Project Testwork

Throughout 2009 - 2010, Intec has continued to progress an application of the Intec Process to selectively extract and recover lead, copper and nickel-cobalt.

As discussed in the June 2010 Quarterly report, a 10kg sample of Intec Process residue (following 95-98% selective extraction of the lead using the Intec Process) is currently being subject to testwork with Ammtec Limited to assess the metallurgical performance of the remaining copper, cobalt and nickel minerals via conventional flotation. This work is ongoing, and no further work has been conducted by Intec regarding the Browns Sulphide Project while these tests continue at Ammtec.

Corporate

Finance

In regard to the $5 million capped royalty payable by Bass Metals Ltd to Intec at the rate of $2.50 per tonne processed through the Hellyer Mill, Bass Metals provided an operations update on 24 August 2010. It noted that “…given the recent issues in the decline development it is considered prudent to complete all of the plant commissioning prior to Christmas and then after the work force has had a break over Christmas, start treating Fossey ore early in the New Year, 2011.”

Allowing for ramp-up of the Hellyer Mill during the March 2011 Quarter, and for lag in the payment of royalties by BSM, Intec does not expect to receive meaningful cash flow from royalty payments until mid-2011.

The Directors consider that the Company’s available cash, receivables and other liquid current assets are sufficient for its immediate working capital requirements and that additional capital will be raised as required.

Appendix 4C Page 3

13/10/2010

Appendix 4C Quarterly report for entities admitted on the basis of commitments

Annual General Meeting

Intec’s An n ual Gener a l Meeting will be hel d at the Co m pany’s co r porate he a dquarters on Thursda y 18 Novem b er 2010 at 2:00 p.m.

Le v el 3, 2 Eli z abeth Plaz a No r th Sydney NSW

Yours fait h fully Intec Ltd

==> picture [50 x 61] intentionally omitted <==

==> picture [55 x 61] intentionally omitted <==

==> picture [6 x 61] intentionally omitted <==

Philip R Wood Managing Director a n d Chief Executive Of f icer

Appendix 4C Page 4

13/ 1 0/2010

Appendix 4C Quarterly report for entities admitted on the basis of commitments

Rule 4.7B

Appendix 4C Quarterly report for entities admitted on the basis of commitments

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

Name of entity
Intec Ltd
ABN 25 001 150 849 Consolidated statement of cash flows	Quarter ended("currentquarter")
	30 September 2010
Cash flows related to operating activities 1.1 Receipts from product sales and related debtors 1.2 Payments for (a) advertising and marketing (b) hydrometallurgical process development (c) administration costs and corporate overheads 1.3 Dividends received 1.4 Interest and other items of a similar nature received 1.5 Interest and other costs of finance paid 1.6 Income tax rebate received 1.7 Other income Net Operating Cash Flows	Current quarter $A'000 231 - (548) (512) - 42 (14) - 5	Year to date (3 months) $A'000 231 - (548) (512) - 42 (14) - 5
	(796)	(796)
Cash flows related to investing activities 1.9 Payment for acquisition of: (a) businesses (b) equity investments (c) intellectual property (d) physical non current assets (e) other non current assets 1.10 Proceeds from disposal of:	- - - (26) -	- - - (26) -
(a) businesses (b) equity investments (c) intellectual property (d) physical non current assets (e) other non current assets 1.11 Loans to other entities 1.12 Loans repaid by other entities 1.13 Other: Security Deposit Paid Net investing cash flows 1.14 Total operating and investing cash flows	- - - - - - - (39)	- - - - - - - (39)
	(65)	(65)
	(861)	(861)

Appendix 4C Page 5

13/10/2010

Appendix 4C Quarterly report for entities admitted on the basis of commitments

Cash flows related to financing activities 1.15 Proceeds from issues of shares, options, etc. 1.16 Proceeds from sale of forfeited shares 1.17 Proceeds from borrowings 1.18 Repayment of borrowings 1.19 Dividends paid 1.20 Other (provide details if material) Share Issue Costs Foreign Exchange Call Option Net financing cash flows	Current quarter $A'000 427 - 279 (8) - - -	Year to date (3 months) $A'000 427 - 279 (8) - - -
	698	698
Net increase (decrease) in cash held 1.21 Cash at beginning of quarter/year 1.22 Exchange rate adjustments to item 1.20 1.23 Cash at end ofquarter/year	(163) 192 -	(163) 192 -
	29	29

Payments to directors of the entity and associates of the directors

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

• 1.24 Aggregate amount of payments to the parties included in item 1.2 47 1.25 Aggregate amount of loans to the parties included in item 1.10 - 1.26 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

• 2.2 Details of outlays made by other entities to establish or increase 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

Appendix 4C Page 6

13/10/2010

Appendix 4C Quarterly report for entities admitted on the basis of commitments

Financing f Add notes as 3.1 Loan 3.2 Credit Reconciliat Reconciliatio consolidated accounts is 4.1 Cash 4.2 Depos 4.3 Bank 4.4 Other acilities avai necessary fo facilities standby arran ion of cash n of cash at th statement of as follows. on hand anda its at call overdraft - 30 day bank lable r an understan gements e end of theq cash flows) to t bank bills ding of the po uarter (as sho the related ite sition. wn in the ms in the	Financing f Add notes as 3.1 Loan 3.2 Credit Reconciliat Reconciliatio consolidated accounts is 4.1 Cash 4.2 Depos 4.3 Bank 4.4 Other acilities avai necessary fo facilities standby arran ion of cash n of cash at th statement of as follows. on hand anda its at call overdraft - 30 day bank lable r an understan gements e end of theq cash flows) to t bank bills ding of the po uarter (as sho the related ite sition. wn in the ms in the	Financing f Add notes as 3.1 Loan 3.2 Credit Reconciliat Reconciliatio consolidated accounts is 4.1 Cash 4.2 Depos 4.3 Bank 4.4 Other acilities avai necessary fo facilities standby arran ion of cash n of cash at th statement of as follows. on hand anda its at call overdraft - 30 day bank lable r an understan gements e end of theq cash flows) to t bank bills ding of the po uarter (as sho the related ite sition. wn in the ms in the	Financing f Add notes as 3.1 Loan 3.2 Credit Reconciliat Reconciliatio consolidated accounts is 4.1 Cash 4.2 Depos 4.3 Bank 4.4 Other acilities avai necessary fo facilities standby arran ion of cash n of cash at th statement of as follows. on hand anda its at call overdraft - 30 day bank lable r an understan gements e end of theq cash flows) to t bank bills ding of the po uarter (as sho the related ite sition. wn in the ms in the
					Amou availa $A'00 nt ble 0			Amount used $A'000
					-			-
					Nil			Nil
					Curre quart $A'00 nt er 0			Previous quarter $A'000
						29 - - -		192 - - -
Total : cash at end ofquarter(it em 1.23)						29		192
Acquisitions of businesse 5.1 Name 5.2 Place 5.3 Consi 5.4 Total 5.5 Nature and disposals ntities of entity of incorporatio deration for ac net assets of business n or registrati quisition or dis on posal
		Acquis (Item1 itions .9(a))				Disposals (Item 1.10(a ))

Compliance statement

• 1 This statement h as been p r epared un d er accoun t ing policie s which comply with accountin g stand a rds as def i ned in th e Corporati o ns Act (e x cept to the extent t h at inform a tion is no t requir e d because of note 2) o r other sta n dards acce p table to A S X.

• 2 This s t atement d o es/ ~~does not~~ give a tru e and fair vi e w of the m atters discl o sed.

Sign here:

Date: 13 October 2010 (Direc t or ~~/Compa~~ ~~n y Secretar~~ ~~y )~~

Print nam e : Philip R . Wood

Appendi x 4C Page 7

13/ 1 0/2010

Appendix 4C Quarterly report for entities admitted on the basis of commitments

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.

2. 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.

3. 6.2 ‐ reconciliation of cash flows arising from operating activities to operating profit or loss

4. • 9.2 ‐ itemised disclosure relating to acquisitions • 9.4 ‐ itemised disclosure relating to disposals • 12.1(a) ‐ policy for classification of cash items

5. • 12.3 ‐ disclosure of restrictions on use of cash • 13.1 ‐ comparative information

6. 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.

Appendix 4C Page 8

13/10/2010