SCIDEV LTD — Interim / Quarterly Report 2013

Apr 29, 2013

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

Companies Announcements Office 30 April 2013 Australian Securities Exchange

Quarterly Activities Report: Appendix 4C March 2013

On behalf of Intec Ltd (ASX code: INL, Intec or the Company), I now attach the March 2013 Quarterly Report for Entities Admitted on the Basis of Commitments (Appendix 4C).

Operations Update

IRC Project

Stage 1 of the IRC Project involves the processing of 25,000tpa of zinc/lead bearing residues to generate Special High Grade zinc metal and lead metal together with other by-products as appropriate. The Final Milestone 1 Report, describing the results of the laboratory testing and development programme in Australia, was submitted to the client in August 2012. During the March 2013 Quarter, the Company completed an engineering design package for a pilot plant to be located near the project site. The pilot plant engineering design package forms a significant component of the second milestone for Stage 1 of the IRC Project with the other component being the construction of the pilot plant by a local service provider. The completion of the engineering design package largely completes Intec’s component of Milestone 2. Milestone 3 is the operation of the pilot plant.

The completed engineering design package will be delivered to the client upon receipt of an overdue payment due to Intec International Projects Pty Ltd (IIP, the 50/50 joint venture between Intec and Mr Reza Maghzian). Subsequent to the end of the Quarter, Mr Maghzian conducted extensive meetings with the client in Iran on behalf of IIP and set out the contractual difficulties arising from the long overdue payment. The Company is hopeful that the commercial aspects of the IRC Project contract will now proceed in a more predictable manner.

Other

During and subsequent to the March 2013 Quarter, the Company continued discussions with EPA Tasmania and the Hellyer site owners regarding the identification of suitable material to remediate the former EAF Dust storage site. The remediation work is expected to be completed during the current Quarter.

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

Subsequent to the end of the Quarter the Company has sold, for a nominal amount, a 1,800 tonne parcel of Zeehan slag that remained at Burnie following the completion of previous blending operations relating to the disposal of EAF Dust stockpiles.

Corporate

The Company’s total cash available at the end of the quarter was $3,674,000. During the March 2013 Quarter the Company received an R & D Tax Offset for an amount of $497,000 relating to eligible R & D expenditure undertaken during the 2011/12 financial year.

The Company continued to review corporate and asset acquisition opportunities and also options for the Burnie Research Facility.

As previously advised, the Company completed the sale of unmarketable parcels of shares. In total, 1,964 shareholders holding in aggregate 15,507,624 shares declined to retain their shareholdings. The aggregated shareholding was sold on-market on 18 January 2013. The proceeds from the sale have been distributed to relevant shareholders after deduction of certain costs of the sale in accordance with the Company’s Constitution.

Intec Ltd

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Kieran Rodgers Managing Director

30 April 2013

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

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

	Quarterly report for entities admitted on the basis of commitments	Quarterly report for entities admitted on the basis of commitments	Quarterly report for entities admitted on the basis of commitments	Quarterly report for entities admitted on the basis of commitments	Quarterly report for entities admitted on the basis of commitments
	Name of entity
	Intec Ltd
	ABN Quarter ended("currentquarter")
	25 001 150 849			31 March 2013
	Consolidated statement of cash flows
	Cash flows related to operating activities			Current quarter	Year to date (9 months)
				$A'000	$A'000
	1.1 Receipts from product sales and related debtors			-	253
	1.2 Payments for
		(a) advertising and marketing		-	-
		(b) zinc bearing concentrate cost of sales		-	(121)
		(c) hydrometallurgical process development		(220)	(865)
		(d) administration costs and corporate overheads		(217)	(969)
	1.3 Dividends received			-	-
	1.4 Interest and other items of a similar nature received			41	132
	1.5 Interest and other costs of finance paid			-	(4)
	1.6 Income tax paid			-	-
	1.7 Royalty income			-	499
	1.8 Other Income*			526	538
	Net Operating Cash Flows			130	(537)
	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:			-	-
		(a) businesses		-	-
		(b) equity investments		-	-
		(c) intellectual property		-	-
		(d) physical non-current assets		-	10
		(e) other non-current assets		-	-
	1.11 Loans to other entities			-	-
	1.12 Loans repaid by other entities			-	-
	1.13 Other: Refund of Environmental Bonds			-	2,701
	Refund of SecurityBond			-	124
	Net investing cash flows			-	2,835
	1.14 Total operating and investing cash flows			130	2,298

*Principally represented by an R & D Tax Offset of $497,000.

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

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

					Current	Year to date
					quarter	(9 months)
					$A'000	$A'000
	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	Dividendspaid				-	-
1.20	Other(provide details if material)				-	(24)
	Share Issue Costs				-	-
	Net financing cash flows				-	(24)
	Net increase (decrease) in cash held				130	2,274
1.21	Cash at beginning of quarter/year				3,544	1,400
1.22	Exchange rate adjustments to item			1.20	-	-
1.23	Cash at end ofquarter/year				3,674	3,674

	Payments to directors of the entity and associates of the directors	Payments to directors of the entity and associates of the directors	Payments to directors of the entity and associates of the directors	Payments to directors of the entity and associates of the directors	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			33
		item 1.2
	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			Nil
		had a material effect on consolidated assets and liabilities but
		did not involve cash flows
	2.2	Details of outlays made by other entities to establish or			Nil
		increase their share in projects in which the reporting entity
		has an interest

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

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

Financing facilities available

Add notes as necessary for an understanding of the position.

	Add notes as necessaryfor an understandingof theposition.
		Amount	Amount
		available	used
		$A'000	$A'000
3.1	Loan facilities	Nil	Nil
3.2	Credit standbyarrangements	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
4.1	Cash on hand and at bank	44	40
4.2	Deposits at call	130	54
4.3	Bank overdraft	-
4.4	Term Deposits	3,500	3,450

Reconciliation of cash

	Financing facilities available Add notes as necessaryfor an understandingof theposition.
		Amount	Amount
		available	used
		$A'000	$A'000
	3.1 Loan facilities	Nil	Nil
	3.2 Credit standbyarrangements	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
	4.1 Cash on hand and at bank	44	40
	4.2 Deposits at call	130	54
	4.3 Bank overdraft	-
	4.4 Term Deposits	3,500	3,450
	Total: cash at end ofquarter(item 1.23)	3,674	3,544
	Acquisitions and disposals	Acquisitions	Disposals
	of business entities	(Item 1.9(a))	(Item 1.10(a))
	5.1 Name of entity
	5.2 Place of incorporation or registration
	5.3 Consideration for acquisition or disposal
	5.4 Total net assets
	5.5 Nature of business

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.

Sign here:

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Date: 30 April 2013

(Director/ ~~Company secretary)~~

[Print name: ] [Kieran Rodgers]

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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.

•	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.

Appendix 4C Page 6

30 April 2013