SCIDEV LTD — Investor Presentation 2005

Sep 18, 2005

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: mail@intec.com.au Website: www.intec.com.au

19 September 2005

Companies Announcements Office Australian Stock Exchange Limited

Official opening of the Intec Hellver Metals Demonstration Plant

The Intec Hellyer Metals polymetallic demonstration plant at Burnie was officially opened on Thursday 15 September 2005 by the Hon. Bryan Green MHA, Tasmanian Minister for Infrastructure, Energy and Resources. The opening was well attended by over 100 international, mainland and Tasmanian guests, including governmental representatives, financial supporters, equipment suppliers, service providers and the electronic and print media. Following a comprehensive presentation by Intec, proceedings culminated with the Minister addressing the audience prior to unveiling the plaque shown below.

The official opening was followed by conducted tours of the demonstration plant (currently well advanced in its commissioning phase) and then a trip 80km south to the Hellyer Metals Project site. Here, both Intec Hellyer Metals Pty Ltd and Resource Finance and Investments Limited (RFI, of which Intec owns 45.4%) gave presentations. RFI is currently raising up to A\$3,500,000 in its Initial Public Offering, with the intention of then being admitted for quotation on ASX.

All of the day's presentations are set out below and may also be found at http://www.intec.com.au/html/news.shtm.

Yours sincerely

Philip R. Wood

Philip R Wood Managing Director and Chief Executive Officer

The Hellyer Metals Project

Presentation at the Official Opening of the Burnie Demonstration Plant

Philip Wood, Managing Director & CEO

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Intec Ltd (ASX Code: INL)

and to treat other metals-bearing residues metals (zinc, lead, silver, gold and copper) with an in-situ value of A\$1.8 billion from profitably recover five base and precious the tailings dam at the Hellyer mine site supplied to it, all in an environmentally The Hellyer Metals Project aims to lbeneficial manner.

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Aberfoyle's Que River mine commences operation, with ore trucked to Rosebery 1983:

ENDER ST

• Aberfoyle commences mining at Hellyer reserves of 15 mit @ 13%Zn, 6.7%Pb, 158g/t Ag, 0.3%Cu, 2.4 g/t Au 1988:
• Hellyer mill commenced operation 1989:
• Western Metals takeover of Aberfoyle 1998:
• Hellyer mine depleted and mill placed on care & maintenance 2000:
• Western Metals placed in receivership 2003:
• Intec/Ammtec acquire Hellyer Metals Project/Burnie

Acquisition of Hellyer Metals Project

Assets acquired: $\blacksquare$

Tailings dam: A\$1.8 billion above-ground metal value

Mill: 1.5mtpa capacity

Mining & exploration tenements (RFI)

Burnie Research Laboratory (Ammtec)

Element	Grade	Quantity	In-situ A\$m *	$\frac{1}{2}$ value
Gold	2.6 g/t	910,000 ozs	530	29%
Zinc	$2.8\%$	305,000t	552	30%
Lead	$3.0\%$	330,000t	382	21%
Silver	88 g/t	30,850,000 ozs	280	15%
Copper	$0.16\%$	17,400t	85	5%
Berry Republication FOCOL		US% metal prices and US\$/A\$ exchange rate at 13 September 2005 from Macquarie	\$1,829	100%

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Hellver Metals Project – Development Scheng

Jan-Sep 2004: Pilot leach plant campaign (Brookvale, Sydney)

Laboratory zinc purification (Sydney University)

Gold recovery (AJ Parker Centre, Perth)

Pre-feasibility study by H.G. Engineering (Canada)

Dec Qtr 2004: A\$12 million capital raising

Lease of 20 River Road, Burnie

Design and construct Burnie demonstration plant Ist half 2005: Zinc electrowinning (Sydney University) (SEMF)

Mar Qur 2006 Complete bankable feasibility study by WorleyParsons 2nd half 2005: Commissioning & operation of demonstration plant 2nd Qur 2006: Project financing by Macquarie Bank Construction and commissioning of commercial plant at Telliyer 71009107

OF MOZEN's teommercial production

Element	three campaigns extraction over Average %	single campaign extractionin Highest %
Lead	99.0	99.6
Zinc	98.8	99.0
Copper	93.5	97.0
Silver	91.2	94.8
Gold	32.8	49.3
Extra dion of metal value Weighted average %	78.1%	83.9%

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Large pressure filter finally arrives after bel stranded by Mumbai floods

Photos taken prior to shipment from India

Burnie is an excellent deepwater port

Burnie port has excellent minerals handling capabilities

Australian and overseas producers considering EAF dust supply

contracts

INDER

• Increased project life $\blacksquare$
• Higher zinc grade feed but only 30,000 tpa Australasian EAF dust grades $>30\%$ zinc
• Potential for receipt of EAF dust treatment fees
• Assists in oxidation of gold-bearing pyrite at Hellyer Ő

Forms 'Base Case' economic model for WorleyParsons bankable Teasibility study

450,000 tonnes Zeehan Slag Dump

FORMA

Acquisition from current owners proceeding

• A\$325 value contained metal per tonne · 90km by trucking road from Hellyer
• A\$146 million total value contained metal 13.4%-Zn, 1.7%-Pb, 54g/t-Ag, 50g/t-In

Hellyer Project - Indicative Economics*

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	ESCRIPTION
	BASE CASE AS
Production	0.5mtpa tailings
Project Life	0.1 mtpa zinc residues eg EAF dust 22 years
Capital Cost	A\$136 million
Operating Cost	A\$28 million pa
Net Sales Revenue	A\$91 million pa
Margin	70%
Cash flow	A\$62 million pa
IRR (all equity/post tax)	32%
NPV@10%	A\$242 million

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Metal prices & US\$/A\$ exchange rate $\omega$ 18 May 2004

24

Risk Analysis

Process risks reducing from medium (HGE/Umicore) Zinc Electrowinning all to be demonstrated at Burnie Overall Process, Materials of Construction &

• Project risks are low (WorleyParsons)
• Infrastructure, Resource, Tailings Recovery, Political, Market & Environmental
• Financing risks are manageable (Macquarie Bank)

Management risks are low (Intec/Ammtec)

$\Box$

Excellent Process and Project teams

Lity Study Team Bankable Feasibi
Principal Contractor	WorleyParsons, a leading Australian-based ENTAL S
	international engineering firm.
Sub-contractors:
Tailings resource:	AMC Consultants
Demonstration plant reporting:	Ammtec
Environmental:	Caloundra Environmental
dam design: Geotechnical & residue	GHD
Engineering plant design:	H.G. Engineering
Process control $\&$ instrumentation:	Honeywell
Tailings recovery:	Neumann Dredging
Zine tank house design:	Umicore
15 September 2005	$\delta$

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Project Management Team-Amnitec

commercialisation of the world's first commercial scale copper Geoff Richmond & Justin Resta, Burnie Research Laboratory (Ammtec). Principally responsible for the development and hydrometallurgical plant (Mt Gordon)

Mt Gordon 50,000 tpa Copper Plant in Queensland

Gordon Process is now The patented Mt owned by Intec) Ammitec employees at Burnie Demonstration Plant, plus Linda Dean

Project Management Team Intec Group

• John Moyes Technical Director

• Kieran Rodgers MD, Intec Hellyer Metals Pty Ltd

• Director, RFI

• Andrew Platts General Manager, Intec Hellyer Metals Project

• Jean-Louis Huens Chief Operating Officer

• General Manager, IHM Demonstration Plant

• Joe Lam Senior Process Engineer

• Andrew Tong Senior Metallurgist and Laboratory Manager
• Mantza Valencia-Bejarano Process Engineer
• Adam Randall Maintenance Supervisor
• Larissa Brown (Office Manager) and Gail Williams Administration Manager) have organised today.

Intec Group: Directors

Lina Company

Intec Ltd

Non-Executive

Richard Jenkins (Chairman): Ian Ross:

Ken Severs:

Philip Wood John Moyes Executive

Intec Hellyer Metals Pty Ltd Kieran Rodgers Andrew Platts

Group Secretary ROBERT Warring

Ex-Anglo American & Rio Tinto Shell Cove Capital Management Ivanhoe Mines Representative

Managing Director & CEO Technical Director

Managing Director General Manager Company Secretary

15 September 2005

29

Contact Intec Ltd

Email: philip@intec.com.au Chief Executive Officer Managing Director Philip Wood

John Moyes

kieran@intec.com.au john@intec.com.au Chief Financial Officer Technical Director Kieran Rodgers Email: Email:

Iniee life.

Englewent, University of Sydney
2010 AUSTRALIA Department of Chemical Engineering Cordon Chiu Building, 101

$+61-2-9351-6741$	$+61 - 2 - 9351 - 7180$	www.intec.com.au
. Tei	Fax:	Web:

Contact Intec Hellyer Metals Pty Ltd

FILICO

Email: jean-louis@intec.com.au IHM Demonstration Plant Jean-Louis Huens General Manager

Email: andrew.platts@intec.com.au Hellyer Metals Project Andrew Platts
General Manager

Intec Hellyer Metals Pty Ltd TAS 7320 Australia 39 River Road Burnie

Cradle Mountain Link Road The Hellyer Mine

Wynyard Waratah Council District AS 7321 Australia

Web: www.intec.com.au Fax: +61-3-6431-6896 Tel: $+61-3-6431-6156$

The Hellyer Metals Projec

Kieran Rodgers, CFO - Intec Ltd
Managing Director - Intec Hellyer Metals Pty Ltd

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Maximising value from the Hellyer Mill which is not required for Project

Partial View of Flotation Plant

Mill cost A\$67 million to build state-of-the-art in 1988.

1.5 mtpa crushing, grinding & flotation circuit.

Limited usage, currently operable & well maintained.

Dominates northern portion of Mt Read Volcanics Belt.

Can liberate value of regional ore bodies

Hellyer/Que River exploration assets vended into Resource Finance & Investments Limited (RFI)

Following A\$3.5m IPO, RFI to be listed on ASX early October 2005

Priority entitlement to Intec Ltd shareholders intec post-IPO interest: 21%

September 15 2005

McGown, Mark Derriman, Kieran Rodgers Don Boyer, Mike Rosenstreich, Craig

Intec Ltd's Demonstration Plant Opening represented by

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RESOURCE FINANCE & INVESTMENTS LIMITED

• Excellent address Mt Read Volcanics.
• Large Prospective ground position-"with stepping stones". $\mathbf{a}$
• 2 Advanced prospects: $\dot{\mathbf{c}}$
• $\checkmark$ Mt Charter potential for large scale gold deposit $\checkmark$ S-Lens -early cash flow opportunity
• Zinifex and GXL Alliance provides the means to "work" the land position to extract value. $\overline{\textbf{4}}$
• Intec relation access to the Hellyer plant and processing expertise. က

The largest exploration land-holding in NW Tasmania

NUMERIES LIMITED RESOURCE FINANCE

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Co de Castro de Co Unio Marcutt ु 60 ERY PROJECT J $\frac{1}{2}$ $\overline{bx}$ MT BISCHOFF PROJECT LOCAL METAL DAY Ś Ŋ SOUTHERN
OCEAN DONA 红油油布 $\mathbf{I}$ DETOWAN ~\$2B historic endowment). REI RFI has ~10% of prospective has 70% of prospective ground (Zn, Ag, Pb, Zn, Ni) Corridor ~\$6B historic endowment). Cleveland - Bischoff Intrusive Zeehan - Renison Intrusive (Sn, Ag, Pb, Zn, Au) Corridor Untested Ni/ PGE potential

position.

corridor / extension & Loyetea Very little previous exploration ~80% of prospective ground. ntrusive Corridor-RFI has Hellyer - Rosebery VHMS

Volcanics. RFI has ~60% of The underexplorered but Succession of Mt Read prospective ground prospective eastern

VHMS corridor (Au, Cu, historic endowment) prospective ground Hellyer - Rosebery Pb, Zn, Ag) (\$17B RFI has $\sim$ 50% of

Hercules - Henty -Lyell historic endowment) -RFI has ~ 30% ground VHMS corridor (\$13B puiblon

ground

Zinifex Alliance

Tasmania rank among the highest grade deposits exploration targets," said Zinifex's Chief Executive "The polymetallic deposits of the West Coast of in the world and are therefore outstanding Officer, Mr Greig Gailey.

potential new discoveries that will enable us to investments we have both in Rosebery and capitalise on the substantial infrastructure "This alliance with RFI gives us access to Hobart," Mr Gailey added.

RFI / Geoinformatics (GXL) - Alliance Partnership

Proven ore finders

.GXL constructed a full 3D geological model in collaboration with Mineral Resources Tasmania

technologies to targeting Hellyer style VHMS) and Renison style (intrusive Developed its own Process and related) deposits in Tasmania.

Key Joint Venture partner with 25% interest in 9 exploration licences.

RESOURCE FINANCE
& INVESTMENTS HALITED

RFI Limited

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RFI Limited

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tested for gold. ·Large shallow gold system. sytematically ·Never

RESOURCE FINANCE

Regional Projects - Copper, Gold & Zinc targets

Magnet Prospect - part of the Mt Bischoff Regional project.

Some of the regional exploration prospects..

Waratah / Bischoff area

• The Magnet Mine
• Historic production of:
• 630,000t at 7.3% Zn, 427g/t Ag and 5.7% Pb between 1895 and 1933
• Mineralisation open in all directions

3m at 1.3% Pb, 1.8% Zn & 87g/t Ag 1m at 0.7% Pb, 3.9% Zn & 37g/t Ag 9m at 4.94% Pb-Zn & 139 g/t Ag 27m at 2.87% Pb-Zn & 42g/t Ag

Waratah / Bischoff area

The Magnet Mine $\bullet$

Stepping back - conceptual targets - lots of "smoke" in same area

Waratah / Bischoff area

• Tenure surrounding the old Mt Bischoff Mine (to be reopened by Bluestone Tin).
• Sn, Ag, W targets
• Ni, PGE targets
• Granite extends underneath much of the ground indicating

domed ultramafic occurrences in Ni/PGE

Avebury Analogue? Narrow ultramafic

Sn, Pb, Zn, Ag

Magnet Mine

Heazlewood – a large regional "geological" anomaly RESOURCE FINANCE
& INVESTMENTS HIMITED

Some of the regional exploration prospects..

Leven River area (NE of Hellyer)

$\bullet$

• Same stratigraphic position as Hellyer
• Same structures as Hellyer
• Untested Electromagnetic (conductor) anomalies
• Some thin post-mineral cover deterred previous prospectors
• A target that can be rapidly advanced

A repeat of Hellyer stratigraphy and
faults. Minor occurrences Anticline, mineral

position back to the Cross-fault brought Hellyer structural surface

plunges north-east Hellyer Anticline beneath cover

Some of the regional exploration prospects...

Leven River area (NE of Hellyer)

• Same stratigraphic position as Hellyer
• Same structures as Hellyer
• Untested Electromagnetic (conductor) anomalies
• Some thin post-mineral cover deterred previous prospectors
• A target that can be rapidly advanced
  to drill ready status

Electromagnetic (conductor) anomalies Untested

Oonah Western Mine

Historic production of:

863,000t at 1.05% Cu 1.23% Pb 0.98% Sn & 153g/t Ag

-5.9m at 1.75% Sn, 2.4% Cu & 205g/t Ag Further potential indicated by:

-2.7m at 1.15% Sn, 1.1% Cu & 143g/t Ag

-5.8m at 1.51% Sn, 1.9% Cu & 156g/t Ag

-6.8m at 1.2% Sn, 1.0% Cu & 103g/t Ag

-0.85m at 6.3% Sn, 5.3% Cu & 87g/t Ag

-3.7m at 0.5% Sn, 0.61% Cu & 93g/t Ag

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EN RESOURCE FINANCE
ENTRES LINES
RFI – "The Product"

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Capital Structure

		Maximum Subscription Basis
	No. of Shares	No. of Options	% Undiluted	% fully diluted
Shares on issue at the date of the Prospectus	18,250,003		50.49	38.44
Options on issue at the date of the Prospectus		5,750,000		12.11
Shares to be issued to Geoinformatics	150,000		0.41	0.32
pursuant to an agreement dated 10 May 2005.
Options to be issued to Pioneer Nicke		150,000		0.32
pursuant to an agreement dated 27 April
Shares to be issued to MD on ASX listing	250,000		0.69	0.53
pursuant to employment agreement dated 28
July 2005
on ASX Incentive Options to be issued to MD		1,050,000		2.21
listing.
Shares now offered under the Prospectus	17,500,000		48.41	36.86
Options now offered under the Prospectus		4,375,000		9.22
at the Total Shares and Options on issue	36,150,003	11,325,000	100.00
completion of the Offer*
Fully Diluted	47,475,003			100.00
*Undiluted Market Capitalisation of the Company on listing on ASX at Issue price of 20 cents per share will be \$7.23
million

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RFI Limited

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Valuation Proposition RESOURCE FINANCE
On IPO - Market cap:	C.57.3N
Cash support:
Current cash	\$0.43
Raising (net)	\$3.25
ZFX contribution	\$1.0
(before earning any equity)
Total cash support approx.	\$4.6M

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$\label{eq:2} \frac{1}{\sqrt{2}}\int_{0}^{\pi}\frac{1}{\sqrt{2\pi}}\left(\frac{1}{\sqrt{2\pi}}\int_{0}^{\pi}\frac{1}{\sqrt{2\pi}}\left(\frac{1}{\sqrt{2\pi}}\int_{0}^{\pi}\frac{1}{\sqrt{2\pi}}\right)\frac{1}{\sqrt{2\pi}}\right)dx$

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RFI Objectives - Stepping stones to development & ERECAINS AND RESOURCE FINANCE CIOWIN

Short to medium term

• reach a development decision on the S-lens copper-silver resource and possibly commence production;
• advance the Mt Charter Gold deposit to a Mineral Resource and have commenced a feasibility study;
• evaluate numerous Hellyer style Zn-Pb-Ag-Au targets on the
  Hellyer leases through the exploration alliance with Zinifex; and,
• develop and evaluate the base metal, gold, nickel and tin
  potential of the remaining tenements which includes significant
  zinc-silver mineralisation at Magnet and Oonah, gold-copper
  targets at Selina east of Henty, as well Ag-Au) targets.

RFI Objectives - Stepping stones to development & ER RESOURCE FINANCE growth

Medium to long term

• utilise cash flow from potential S-Lens operations to contribute
  to the development of the Mt Charter Gold deposit;
• development of any Zn-Pb-Ag-Au discoveries arising from the in association with Zinifex complete feasibility work and preexploration alliance;
• develop the Mt Charter gold deposit to provide funding to
  develop the base metals assets, grow the business; and,
• maintain a pipeline of new opportunities in this very highly continue with Geoinformatics' regional exploration work to mineralised region.

RFI - the strategy (implementation)

The people - highly experienced team -we know the Minerals Industry

• Board -sound technical, corporate and commercial skills residing in an experienced Board comprising:
• Michael Rosenstreich Don Boyer
• Non-Executive Chairman Non-Executive Director Managing Director

Non-Executive Director

• Kieran Rodgers Craig McGown
• Technical Team Geologists with significant Tasmanian experience, including fulltime Tasmanian based Exploration Manager -Mark
• Alliances Zinifex, Geoinformatics & Intec Ltd (major shareholder)

Derriman.