To my understanding Intec announced that they have closed what they call their "Hellyer Concentrate Project". This project is based on the Hellyer tailings dam not EAFD as feedstock. The EAFD is to be used in the proposed "Hellyer Metals Project". They are very different projects as the proposed project is based off Intec's technology (the "Intec Process") and the closed project is old conventional technology. That said the projects were intending to take advantage of some synergies, however the project is not closed permanently so this news is not necessarily a killer for Intec's EAFD plans.
All that said, Intec is currently stockpiling the EAFD that was previously going to HMC. If Intec's EAFD project does fail Intec is likely to be in serious trouble.. apart from the possibility of re-establishing the contract, all the EAFD that Intec has been stockpiling may also be up for grabs.
It is not directly related to the EAFD that is not directly related (but has possible synergies) to their proposed
With intec closing the tassie plant, likely that hmc will get another bash. Confirmed to me today that original operation was quite profitable. I think I'd be bumping the price up. Was getting the lowdown on the lead situation, but interrupted with important outside call. Offered directors mobile to call back, and will try to, tomorrow or Thu. Cheers jwt
HMC Price at posting:
8.0¢ Sentiment: Hold Disclosure: Held
