SCIDEV LTD — Interim / Quarterly Report 2013

Jan 30, 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 31 January 2013 Australian Securities Exchange

Quarterly Activities Report: Appendix 4C December 2012

On behalf of Intec Ltd (ASX code: INL, Intec or the Company), I now attach the December 2012 Quarterly Report for Entities Admitted on the Basis of Commitments (Appendix 4C).

Operations Update

IRC Project

The current phase of the IRC Project engineering programme involves pilot plant testwork. During the December Quarter, the Company’s 50% owned subsidiary, Intec International Projects Pty Ltd (IIP), completed its engineering package for the pilot plant setup. IIP is currently awaiting an overdue payment before the engineering package is released to the client, and expects that this payment will be released as soon as possible to limit the delays being caused by the overdue payment. Following handover of the engineering package, the local contractor will require a period of time to enact the equipment setup, following which pilot plant operations can then commence.

The Company continues carefully to monitor the delivery of its services to the IRC Project, in order to remain compliant with its obligations under both Australian and international law, including the most recent updates to the regulatory regime.

Corporate

The Company’s total cash available at the end of the quarter was $3,551,000. Since the end of the quarter the Company has received an R & D Tax Offset for an amount of $497,000.

The Company’s Annual General Meeting (AGM) was held on 13 November 2012. All resolutions were passed. The Company continues with the strategy as outlined in the Chairman’s address at the AGM:

1. continuance of the IRC Project, subject to on-going Federal Government approvals and the receipt of pre-payments from the client, as it represents a material body of paid commercial work that covers the cost of employees assigned to the project;

2. continued investigation of alternative value realisation strategies for certain components of its technology portfolio including the Burnie Research Facility;

3. preservation of its financial position to all extents possible, without resort to shareholders; and

4. the investigation of corporate and asset acquisition opportunities.

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

On 27 November 2012, the Company announced a notice of intention to sell unmarketable parcels of shares. The time for relevant shareholders to notify the Company expired on 11 January 2013.

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 will be shortly 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

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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

Name ofentity	Name ofentity
Intec Ltd
ABN		Quarterended ("current quarter")
25 001 150 849		30 September 2012
Consolidated statement of cash flows
Cash flows related to operating activities 1.1 Receipts from product sales and related debtors 1.2 Payments for (a) advertising and marketing (b) zinc bearing concentrate cost of sales (c) hydrometallurgical process development (d) 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 paid 1.7 Royalty income Other Income Net Operating Cash Flows		Current quarter $A'000 4 - (6) (308) (327) - 51 - - - 12	Year to date (6 months) $A'000 253 - (121) (636) (751) - 88 (4) - 499 12
		(574)	(660)
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 (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 Refund of Security Bond Net investing cash flows 1.14 Total operating and investing cash flows		- - - - - - - - - - - - - - -	- - - - - - - - - 10 - - - 2,701 124
		-	2,835
		(574)	2,175

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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

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 Net financing cash flows	Current quarter $A'000 - - - - - (24) -	Year to date (6 months) $A'000 - - - - - (24) -
	(24)	(24)
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 of quarter/year	(598) 4,149 -	2,151 1,400 -
	3,551	3,551

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 1.25 Aggregate amount of loans to the partiesincludedin item 1.10	1.24 Aggregate amount of payments to the parties included in item 1.2 1.25 Aggregate amount of loans to the partiesincludedin item 1.10	31
		-
1.26 Explanation necessaryforanunderstanding ofthe transactions Salaries,Directorsfees and consultancyfees atnormalcommercial 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 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
	Salaries,Directorsfees and consultancyfees atnormalcommercial rates.
		Nil
		Nil

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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.

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

Reconciliation of cash

Reconciliation of cash
Reconciliation of cash at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts is as follows. 4.1 Cash on hand and at bank 4.2 Deposits at call 4.3 Bank overdraft 4.4 Term Deposits	Current quarter $A'000	Previous quarter $A'000
	40 61 - 3,450	43 555 3,551
Total:cash at end of quarter (item 1.23)	3,551	4,149

Acquisitions and disposals of business entities 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	Acquisitions (Item 1.9(a))	Disposals (Item 1.10(a))

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:

Date: 31 January 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.

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