International Ferro Metals Share Discussion Threads

[holmess] 28/8/2015 10:36

Realistically after all the vultures have had their pickings I'd be very happy with 5p but I doubt long term holders would feel the same.

[tomboyb] 27/8/2015 14:32

NAV actually works around 20p per share -

Majority hard assets - what we get remains to be seen after deducting debt and fees

[holmess] 27/8/2015 13:56

Looks pretty good for a return on my 0.82p shares!

[tomboyb] 27/8/2015 13:30

KEY FIGURES -

As of Dec/14 total Group debt stood at R500m (unchanged as of Jun/15) in Bank of China working capital facility maturing in Sep/15 as well as R65m in finance leases and other loans. This compares R2,011m in PPE and R3,060m in total assets.


We will see what offers transpire and "if" there is an offer for the entire equity of IFL -

[tomboyb] 27/8/2015 13:19

www.proactiveinvestors.co.uk/columns/sp-angel/22840/today-s-market-view-including-international-ferro-metals-lonmin-petropavlovsk-and-stratex-international

Conclusion: With little hope for a recovery in FeCr market and galloping cost inflation (labour and power, in particular) the Company decided to call in Business Rescue Practitioner to ring-fence assets as the management is looking for a buyer for its SA operations in an effort to realise residual value for its shareholders.


The FeCr market remains well supplied with sufficient industry stocks and weak demand keeping a lid on potential price gains. In stainless steel sector which accounts for c.70% of FeCr annual demand, production slowed considerably primarily driven by weaker output in China (50% of world stainless steel production and c.55% of world FeCr demand). H1/CY15 global stainless steel production saw the first yoy decline (-2.0%yoy) since 2009 led by a decline in Chinese output (-0.8%yoy), according to Heinz Pariser Jul/15 numbers. As a result ferrochrome demand fell 0.8%yoy in the respective period. In reflection of slowing demand, FeCr prices continue to trade at multi year lows: European Benchmark for Charge FeCr Lumpy 52% Cr at US$1.08/lb, a five year low, since Q4/CY14 and Chinese Import Charge FeCr (duty unpaid) 50% Cr at US$0.76/lb, down US$0.02/lb from Jul/15 on CNY devaluation.

On a company level, despite a significant USDZAR depreciation that helps to mitigate the effect of low commodity prices (European Benchmark FeCr is up 7.5%ytd in ZAR terms), labour and power costs’ inflation as well as episodic production disruptions keeping furnaces’ run rates below optimal 90% capacity utilization drive unit operating costs beyond economic levels. Previously, we estimated IFL to break even on net CFO level (ex changes in WC, incl interest payments) at operating costs

The focus now shifts to a value recovery for existing shareholders following a potential disposal of the business. We note that current outstanding debt levels are not particularly high compared to the asset base; although, the latter will significantly depend on agreed price for existing PPE of the Group, which accounts for 2/3s of total assets as of Dec/14.
As of Dec/14 total Group debt stood at R500m (unchanged as of Jun/15) in Bank of China working capital facility maturing in Sep/15 as well as R65m in finance leases and other loans. This compares R2,011m in PPE and R3,060m in total assets.
*SP Angel act as broker to IFL

[yineaopqwhf] 27/8/2015 12:22

Regarding the house broker, they can't do anything at least for PIs anyway.

Oh well, guess I'll miss out on this one. GL everyone and remember: [e-mail]

[holmess] 27/8/2015 12:16

I know better then you jotoha - which is not hard is it ;)

[tomboyb] 27/8/2015 11:51

Ask Numis - They may give you some for 15p -

Or ask Jiuquan Iron & Steel - They hold 29% and I suspect will be part of any negotiations

[yineaopqwhf] 27/8/2015 11:37

Some might be overexposed to IFL. You could get 3p, you could get 1p, you could get nothing. Negotiate with fellow PIs and maybe we can come to a deal. My punt could just as easily turn to nothing as well. Times like these it's just pot luck. Seen a lot of these go down with holders getting zilch.

[konil] 27/8/2015 11:30

no doubt doing that out of the goodness of your heart.

[tomboyb] 27/8/2015 10:58

Leaves around 2000-2100 MILL ZAR for float after paying all liabilities -

Obviously that is in an ideal world - Today's world will be different

Someone will pick up the operations very cheap - But how cheap?

For us shareholder, what counts it what we get -

Several expressions of interest -

Today's RNS is an indication that there is interest here - And preserving as much value -

[tomboyb] 27/8/2015 10:36

Save value before trade sale by the looks of it -

Assets around ZAR 3000 Mill ( Fixed Assets + CASH + Recievables around ZAR2850 MILL - Debt + Liabilities around ZAR 1000 mill)

[jotoha2] 27/8/2015 10:29

Homess , clearly you know better then the insiders , best of luck , your investment has gone down the pan !!

[tomboyb] 27/8/2015 10:23

TIDMIFL

27 August 2015

International Ferro Metals Limited

("IFL" or the "Company")

Trading update

Further to the announcement released by the Company yesterday, IFL announces
that its South African subsidiary, International Ferro Metals (SA) (Pty)
Limited, has shut down its furnaces and all mining operations, with the aim of
significantly reducing its expenses.

- ENDS-

For further information please visit www.ifml.com or contact:

International Ferro Metals Limited Tel: [phone]

Chris Jordaan, Chief Executive Officer

Numis Securities Limited Tel: [phone]

James Black / John Prior / Paul Gillam

About International Ferro Metals:

International Ferro Metals produces ferrochrome, the essential ingredient in
stainless steel, from its integrated chromite mine and ferrochrome processing
operations in South Africa. International Ferro Metals is listed on the London
Stock Exchange under the symbol IFL.

Forward Looking Statements

This announcement contains certain forward looking statements which by nature,
contain risk and uncertainty because they relate to future events and depend on
circumstances that occur in the future. There are a number of factors that
could cause actual results or developments to differ materially from those
expressed or implied by these forward looking statements.

[tomboyb] 27/8/2015 09:11

hxxp://www.ikea.com/gb/en/campaigns/ikea_london.html

Several share schemes - Any store will do

[yineaopqwhf] 27/8/2015 08:59

Anyone wishing to get rid of their shares at 0.25p/share and below PM me.

[holmess] 27/8/2015 08:14

Maybe you can buy when they resist at 3p?

[yineaopqwhf] 27/8/2015 07:57

Is there any way I can get hold of some of these? I am willing to pay 0.25p/share.

[tomboyb] 26/8/2015 21:55

A few years ago I bought into a company at around the 0.28p-0.30p mark - The cash and investments on the balance sheet exceeded 2p and roughly up to 2.5p -

They wanted to delist the company citing poor market conditions - Quite a few shareholder stirred up a fuss about the cash and what was to happen to it after delisting -

Subsequently, due to shareholder action the company did not delist and returned 2p+ in cash to shareholders -

It did eventually delist but not after paying a further 0.35p - The BOD untrustworthy -

Where PVCS and this company had cash, IFL has assets, hard assets - So we shall see what current shareholders will get and what offers for the company will be tabled -

[themoreiwantyou] 26/8/2015 21:02

If anyone gets a penny back of their money they will be lucky. Sorry to be pessimistic but I have seen two many of these suspended companies never return anything to their shareholders.

[wigwammer] 26/8/2015 20:34

2 weeks ago - "The ZAR500 million working capital facility with Bank of China expires on 16 September 2015. The annual renewal process has commenced and the Company is confident that the facility can be extended."Very poor and misleading.