MJS,
The number of directors & senior management has been slashed from 12 to 4....I must say all the previous personnel were good people in their own right ,but they had no clue how to build a sustainable business....The Intec culture has changed.
They were granted their 1st strike in 2011....Phillip Wood was ousted in early 2012....the rest were let go gradually through 2012 & 2013.
Dec Qtr cash flow was negative $166,000...This 80% improvement from the previous "mighty" Intec when it needed $4m/year to feed itself.
Now ,the cost base is appropriate for 2 small outfits ( SciDev & BRF) that are cash flow positive.
Not dreaming of profits in 2014...But expecting sustainability & future growth.
Monetization of Zeehn Slags will provide firepower...It has more value than the current MC of INL.....Zinc dynamics look promising.
Not holding my breath for IRC...SPL...BSM ...or the "useless" Intec Process/IP ,but anything is possible.
sustainable, page-6
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