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SCIDEV LTD Investor Presentation 2004
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Investor Presentation
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Intec Ltd
Superior and Sustainable Metals Production
Gordon Chiu Building J01 Department of Chemical Engineering Maze Crescent University of Sydney NSW 2006 Australia
Telephone: +612-9351-6741 Facsimile: +612-9351-7180 Email: [email protected] Website: www.intec.com.au
17 August 2004
Companies Announcements Office Australian Stock Exchange Limited
The Hellver Metals Project
Intec Ltd (ASX code: INL) completed the very successful pilot plant program for the Hellyer Metals Project on 11 August 2004. The pilot plant program extended over four months at Ammtec's Sydney facility and included three steady-state campaigns solely on Hellyer tailings material and two steadystate campaigns on a blend of Hellyer tailings and zinc-bearing electric arc furnace (EAF) dust.
The table below shows the average percentage metal extractions achieved over the three pilot plant campaigns on Hellyer tailings and the highest percentage metal extractions achieved during a single complete campaign on Hellver tailings.
| ілізаніз от 1 пос і нані Саніраіднэ он піснусі - Ганіндэ | ||
|---|---|---|
| Element |
Average % Extraction Over Three Campaigns |
Highest % Extraction In Single Campaign |
| Lead | 99.0 | 99.6 |
| Zinc | 98.8 | 99.0 |
| Copper | 93.5 | 97.0 |
| Silver | 91.2 | 94.8 |
| Gold | 32.8 |
Results of Pilot Plant Campaigns on Hellyer Tailings
At current metal prices and US\$/A\$ exchange rate the Hellyer tailings dam contains approximately A\$1.7 billion of in-situ metal value. The metal extractions achieved during the pilot plant campaigns correspond to an average of 77.3% of in-situ metal extracted over the three pilot plant campaigns and 83.2% of in-situ metal extracted in the best-performing pilot plant campaign.
Electric Arc Furnace (EAF) Dust
Subsequent to the completion of above-documented pilot plant campaigns, two additional campaigns have been completed on a blend of Hellver tailings with EAF dust. EAF dust is an inevitable waste product from the re-processing of scrap by steel mini-mills and typically contains 20-30% zinc plus small amounts of other valuable metals such as lead and silver.
The first pilot plant campaign on a blend of Hellyer tailings and EAF dust received from Smorgon Steel resulted in metal extraction levels from Hellyer tailings consistent with the extractions achieved in previous pilot plant campaigns and also resulted in an extraction level of 95% for the zinc contained in the Smorgon Steel EAF dust. The results of the second campaign on a blend of a different EAF dust with Hellyer tailings will be available shortly and are expected to be comparable.
In addition to high metal extractions, the successful pilot plant campaign on blended feed material also demonstrated that there are significant technical and economic benefits to the Hellver Metals Project from the co-treatment of Hellyer tailings with other zinc-bearing oxide residues.
Such residues are not, for the time being, projected to include the Zeehan Slag Dumps. The proposed transaction by INL to acquire them cannot proceed until current entitlement to them is settled between the registered owner Encore Metals NL and Zinifex Limited, which now claims a contractual right to regain them.
Hellyer Metals Project Pre-Feasibility Study
The pre-feasibility study for the Hellyer Metals Project being undertaken by H.G. Engineering of Toronto, Canada is due for completion by 20 August 2004 (Toronto time). The pre-feasibility study will present the evaluation of two cases: a 'Base Case' that provides for the treatment solely of Hellyer tailings and an 'Enhanced Case' that provides for the co-treatment of Hellyer tailings and zinc-bearing residues such as EAF dust. The 'Enhanced Case' evaluation is expected to demonstrate significant additional technical and economic advantages over an already very robust 'Base Case'.
To support the economics of the 'Enhanced Case', INL will be seeking to enter into commercial arrangements during the development phase of the Hellyer Metals Project with the owners and/or producers of zinc-bearing residues such as EAF dust, both in Australia and overseas.
Intec Gold Process
Following completion of the Hellyer tailings campaigns at the pilot plant, it is currently undergoing a short period of refurbishment. From early September 2004, a five-week campaign will commence on a two tonne sample of refractory gold material provided by Barrick Gold Corporation (Barrick), a leading international gold mining company headquartered in Toronto, Canada.
Favourable metallurgical results of a previous laboratory testwork phase using the Intec Gold Process has resulted in interest for a pilot phase. The objective of the pilot plant campaign is to verify the laboratory gold recoveries at continuous pilot plant scale and to characterize the engineering aspects of the process. This phase of work will be assisted by technical personnel from Barrick. It will form part of an on-going evaluation by Barrick of the Intec Gold Process as a treatment route for refractory materials.
INL sees the upcoming pilot plant campaign on Barrick's material as a significant step in the development and definition of the Intec Gold Process towards the objective of becoming a commercially viable alternative treatment route for refractory gold materials.
Yours sincerely Intec Ltd
Philip R. Wood
Philip R Wood Managing Director and Chief Executive Officer