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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Int Ferro | LSE:IFL | London | Ordinary Share | AU0000XINAK8 | ORD NPV |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
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| 0.00 | 0.00% | 0.90 | 0.00 | 01:00:00 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
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| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
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| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
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| - | O | 0 | 0.90 | GBX |
International Ferro Metals (IFL) Share Charts1 Year International Ferro Metals Chart |
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1 Month International Ferro Metals Chart |
Intraday International Ferro Metals Chart |
| Date | Time | Title | Posts |
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| 07/5/2018 | 18:49 | International Ferro Metals (IFL) - undervalued | 1,709 |
| 29/1/2015 | 23:29 | International Ferro Metals | 10,573 |
| 18/10/2010 | 22:06 | IFL | 7 |
| 02/10/2009 | 13:52 | Why the dip? | - |
| 14/9/2009 | 07:57 | IFL | 181 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
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Posted at 07/5/2018 18:49 by rhcm The following may be of help to those who hold shares:Thanks to Gengulphus on the CGT board rhcm, How to claim this as a loss? I am in the process of moving broker and I have one company IFL which is currently suspended and the company have said shares are unlikely to be of any worth to shareholders. The new broker will not accept the transfer and the current broker cannot obtain a paper certificate. They have advised that the shares could be gifted to a charity via sharegift but how can i claim the capital loss? Many thanks for your help. First, do NOT try to use your broker as your tax adviser, unless you have a specific agreement with them that they will act as such. The terms and conditions for an execution-only broker account specifically exclude them giving you financial advice of any type, which includes tax advice (that's basically why it's called 'execution-only'), and even other, more expensive types of broker account such as advisory or discretionary accounts might well have limitations on the types of financial advice the broker will supply. The reason I emphasise that so much is that giving the shares to a charity is one of the most certain ways to ensure that you cannot claim the capital loss! As the ShareGift website says (with my bold), "donating shares charitably gives rise to neither a gain nor a loss for Capital Gains Tax (CGT) purposes". I.e. giving the shares to ShareGift is of no value to you, nor to the charity (assuming that they really are worthless - it certainly sounds as though they are!). The broker is IMHO being rather irresponsible by even suggesting the course of action as a possibility - it is one, and they're not giving any financial advice by merely saying it's something they can do, but clients who aren't fully aware of what 'execution-only' means could easily read it as implying that donating the shares to ShareGift is a good idea... It generally isn't when you've made a loss on a share, especially a total loss! The answer about what you need to do to claim the loss is: make a negligible value claim. Not "wait for HMRC to declare the shares to be of negligible value, then make a negligible value claim", just make one once you're reasonably certain that they are indeed worthless (*). Usually, the point when you become reasonably certain of that for a company is when you get a statement that there is no realistic prospect of any return to shareholders from someone in a position to state that authoritatively - e.g. the administrator of a company in administration. I would generally be happy to base a negligible value claim on such a statement - indeed, I believe the reason such statements are made to shareholders is (besides informing them of the bad news about their investment) that it enables them to support a negligible value claim. Why shouldn't you wait for HMRC to declare the shares to be of negligible value? Quite simply, the reason is that HMRC generally (a) only decide whether shares are of negligible value when they're asked to make a decision by a taxpayer making a negligible value claim; (b) even when they have made such a decision, generally don't make a public declaration of the decision. They do make such a declaration in some cases, by adding it to a 'Negligible Value agreements' list But that list is limited to (in its own words) "shares formerly quoted on the London Stock Exchange", and "quoted" is a somewhat-slippery term with regard to tax... It certainly doesn't have the obvious 'everyday' meaning that "the London Stock Exchange quotes prices for it", as shares traded on AIM are clearly "quoted" in the 'everyday' sense but I have never seen a collapsed company on AIM make it on to the list... Just what the exact requirements are to get on to the list, I haven't managed to work out, but in general, I would take the presence of a share on the list to mean "yes, HMRC will accept a negligible value claim for this share, provided the claim's dates fit the entry", but its absence to merely mean "you'll need other support for a negligible value claim about the share you're interested in". Note incidentally that presence on the list is not a substitute for a negligible value claim - you need to make one to establish the loss whether or not the share is on the list, it's just that if it is on the list and your claim fits the dates, you have the assurance that HMRC will accept the claim. One other thing I'll mention is that you can accompany a negligible value claim with a "post transaction valuation check" request - see and the form it links to (the latter contains most of the information). That's another way to get assurance about whether HMRC will accept the claim - and especially around this time of year, you can send in the negligible value claim and "post transaction valuation check" request and leave HMRC plenty of time to tell you their answer before you have to submit the tax return. (*) And that you actually want the loss. You're not obliged to make a negligible value claim for any specific date - it's just got to be a date: * When the shares are of negligible value (and have become so since you acquired them). * That is in the tax year that you make the claim or one of the previous two tax years. (The previous tax year is probably the most common case - e.g. a claim submitted with a tax return now is for the 2017/2018 tax year that that tax return is about, but made in the 2018/2019 tax year.) * You still own the shares, and you must still own them on the likely-to-be-later date that you actually make the claim. (Basically, once you no longer own the shares, you have actually disposed of them for CGT purposes and so have actually realised the loss. Negligible value claims are there to allow people to deal with assets that have become worthless but they have difficulty actually disposing of, and so the rules don't allow you to waste the taxman's time with them once you have actually disposed of an asset.) It may be that claiming the loss now is not something you want to do - e.g. it might be that dates in the 2016/2017 tax year are before you can establish that the company is of negligible value (note I haven't researched IFL more than very superficially for this post!), that your net gains in the 2017/2018 tax year are below the CGT allowance and so the loss would simply end up being wasted offsetting gains that weren't going to attract any CGT anyway, and that it's too early in the 2018/2019 tax year to be certain whether the loss would end up saving CGT or not. In that case, it's perfectly OK for you to defer making the negligible value claim until a time when you can get some CGT savings from the loss - though note that if you keep deferring making it in that way, eventually you will probably find that you have actually disposed of the shares and so actually have realised the loss, on a date not of your choosing. (The common case for that is that a company in administration or liquidation eventually gets dissolved, i.e. ceases to exist. Its shares cease to exist at the same time, and an asset ceasing to exist counts as actually disposing of it for CGT purposes. I don't know exactly what is happening to IFL, though, and given its international aspects, very possibly wouldn't understand exactly what the CGT treatment would be even if I did know...) |
Posted at 12/1/2017 08:53 by stockriser Aye, I rang Barclays and asked what's happening with IFL, they just replied...It Fuking Lost ....lol |
Posted at 15/7/2016 10:07 by rishika2 can somebody please advice? IFL shares are suspended but company not yet declared to be in administration.Having to pay to the broker fees to maintain the shares when it seems like that they may have no value ? What are fellow shareholders doing ? |
Posted at 26/8/2015 12:41 by tomboyb Wednesday 26 August, 2015International Ferro Metals IFMSA enters Business Rescue 26 August 2015 International Ferro Metals Limited (“IFL” or the “Company” IFMSA enters Business Rescue As a result of deteriorating business conditions, IFL’s South African subsidiary, International Ferro Metals (SA) (Pty) Limited (“IFMSA” Despite the stringent cost cutting measures taken by IFMSA, its financial outlook is such that it is facing financial distress. The underlying reasons for this were set out in the Production Report for the three months ended 30 June 2015, and the principal ones are noted below. Since the beginning of the 2015 financial year, the IFL Group has suffered from a downtrend in its operations and profitability that has proved more deep-seated and sustained than anyone expected. It is consistent with the significant decline in global commodity markets generally. The Company reported a loss before tax of ZAR176 million for the half year ended 31 December 2014 and operating losses for the second half of FY15 are expected to be similar to the first half. The price of ferrochrome has continued to decline. This has been caused largely by the slowdown in Chinese economic activity and its consequent effect on stainless steel output and increased production by Chinese ferrochrome producers. These factors have driven prices lower and are expected to continue to keep prices low. IFMSA has also been affected by rising costs and other factors which have impacted its operations, which largely are outside of its control. This includes militant union activity and a general thrust for above inflation wage hikes which have increased IFMSA's labour costs. Most significant of all are the rising electricity costs and interruptions in power supply. Ferrochrome producers rely heavily on electricity for their furnaces and are particularly vulnerable to power discontinuity. Since 2007, Eskom’s prices have increased by 374% for heavy industrial users, which equates to 21.5% p.a. against CPI inflation of 6.3% p.a. over that same period. In July IFMSA lost more than 10% of its ferrochrome production because of load shedding and power trips. Production losses also occurred during the year resulting from section 54 orders to shut the furnaces made by government inspectors. While IFMSA was vindicated in court proceedings to lift these orders, the damage was done. Recently a strike of workers employed by one of IFMSA's contractors resulted in IFMSA having to reduce production from its furnaces and disrupted its logistics and shipping schedule, causing a further loss in production and strain on its liquidity. The combination of low ferrochrome prices, high electricity prices and other costs and losses of ferrochrome production have strained IFMSA's liquidity to the point that it is now in financial distress that is best resolved through the protection of Business Rescue. The Business Rescue process may entail a shutdown of its furnaces and all mining operations, significantly reducing its expenses. It will continue to derive income from the sale of UG2 chromite produced under a contract with Rustenburg Platinum. Such income is expected to cover ongoing costs, allowing IFMSA to continue in business during the period of the Business Rescue. IFL also owns Purity Metals Limited which owns 80% of the Sky Chrome mine. As noted in the Production Report, mining at Sky Chrome remains suspended. It is not envisaged that Sky Chrome will also decide to enter into Business Rescue. During the period of the Business Rescue, IFL will seek to sell its shares in IFMSA and Purity. It is reasonably expected that, after satisfying creditors and transaction expenses, a surplus should be generated that can be distributed to shareholders. The Company is in negotiation with an interested party and has been recently approached by others in relation to a potential sale. Any such sale will be subject to obtaining certain regulatory approvals, as a result it is envisaged that the period of the Business Rescue could be about six months. However, it is not certain that a sale on satisfactory terms will be able to be concluded. Even though IFMSA has been placed in Business Rescue, IFL itself currently remains solvent and expects to have sufficient cash to be able to cover its expenses of continuing operations during the period of the Business Rescue and to implement the proposed sale of IFMSA and Purity. Given the circumstances of the IFL Group, IFL has applied to the Financial Conduct Authority for a suspension of the listing of its securities on the Official List for a period of six months, or such shorter period in which the proposed sale is concluded. - ENDS- For further information please visit www.ifml.com or contact: International Ferro Metals Limited Tel: +27 14 574 6302 Chris Jordaan, Chief Executive Officer Numis Securities Limited Tel: +44 (0) 20 7260 1000 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. |
Posted at 09/7/2015 12:12 by konil the markets are starting to show signs of stress.i had thought impending increases in base rates (u.s. first then u.k.) would kick it all off, but increases seem to get put back time and again despite occasional rhetoric to the contrary. this seems to be because economic signals are not consistently as good as thought when first published. that in itself should worry the markets, instead they continue to celebrate the unsustainably low rates, reinforcing my view that when rate rises do eventually start to bite the hangover will be severe. now we have the chinese market in meltdown, so the authorities prevent big holders from selling. imo that's a recipe for disaster yet the markets rebound on the 'good' news. another example of market myopia. and all the while commodity prices being hammered, so companies like ifl well and truly under the cosh. sooner or later all the interventions (q.e., restrictions etc.) will be exhausted. then what? the fallout could be so severe that the subsequent bounce could make some lucky people very rich in a very short space of time - if they have any cash and the guts to buy and get the timing of purchases correct. perhaps once in a lifetime opportunity. i fear we have more pain to suffer first though. and what does it all mean for the ifl share price which has already been hammered? |
Posted at 19/6/2015 14:29 by konil this bb is about as dead as the ifl share price !has anyone been looking at the ferrochrome and related commodities markets of late? its a while since i last looked, so just wondering if fecr price is moving up or down or sideways. tia for any info. |
Posted at 22/5/2015 09:58 by konil commodity cycle currently in the doldrums.when that turns commodity pricing including fecr will recover and along with it the ifl share price question of course is when will that be? imo ifl is well run. my sole concern being the nearness of the debt facility to its limit. if they can ride it out it should come good for all patient holders. all fairly obvious, just a gentle reminder while we wait! gla. p.s. whatever happened to the commodity supercycle? did it die or is it just resting before the next leg up? maybe china will have a small resurgence of infrastructure spending bolstered by india where politics is moving to open up the economy for foreign investment. |
Posted at 23/4/2015 16:45 by qackers SP Angel view via shareprophetsInternational Ferro Metals (IFL LN)* 3.0p, Mkt cap £19m – Q1/CY15 operations update BUY Ferrochrome production totalled 49.1kt (Q4/CY14: 49.8kt; Q1/CY14: 54.3kt) driven by the temporary shutdown of the Metal Recovery Plant, producing alloy from slag, in Feb. Ferrochrome sales were 51.4kt (Q4/CY14: 53.5kt, Q1/CY14: 60.5kt) 2015 annual ferrochrome production guidance left at c. 200kt. On the ore supply side: UG2 chrome concentrate deliveries totalled 53kt against the contractual 45kt reflecting the above-agreed shipment rate to clear the backlog of UG2 ore resulted from the labour action at Amplats operations last year. Outstanding inventories were c.83kt as at Mar/15. Lesedi underground operation continues to ramp up towards 25ktpm ROM ore by Jun/15 and 40ktpm by the end of CY16. The mine produced 45.8kt ROM ore, up 31%qoq and equivalent to the c.15ktpm rate. At Rooderand, the source of high grade lumpy LG6 ore, production climbed to 22.5kt in Q3/FY15, up from 8.4kt in Q2/FY15. Nevertheless, the ramp up came in below expectations due to more geological faulting of the ore body, steeper dips and higher degree of weathering than previously anticipated. As a result mining costs increased above the market price for theLG6 material and the management is reviewing the mine plan to account for changes in geological information. Production costs averaged R8.43/lb, up 7.8% from R7.82/lb in Q4/CY14 on weaker ore beneficiation recoveries, lower than expected LG6 deliveries and lower alloy recovery production. Power tariff, as announced previously, will increase 12.7% through Apr15/16. Together with the new environmental levy of R0.02/kWh effective from Jul/15 new power tariff is expected to increase prodution costs by 3USc/lb or R0.37/lb. Eskom applied to the NERSA for a further tariff increase of 9.6% on top of the 12.7% hike already granted. Revisions follow officially agreed 5-year flat 8%pa tariff growth plan agreed in 2013. The decision on the 9.6% increase are expected before 30 Jun/15. Please, see disclaimer at the of this document S.P. Angel, Prince Frederick House 35-39 Maddox street, London W1S 2PP, United Kingdom www.spangel.co.uk  S.P. Angel – Morning View – continued Works on Co-Gen power unit have been postponed to Sep/15 in order to limit the capital spend. Previously, the Company targeted commiissioning in Q2/CY15 with a ramp up to full capacity (10% of IFL’s power demand) in Q3/CY15. Net debt increased to R485m as of Mar/15, up from ZAR451m at the end of CY14, driven by a negative CFO of R5m (-R16m ex working capital), investments in PPE of R15m and interest payment of R15m. The Company expects net borrowings to range in R480-490m through Oct/15, implying cash balances of R10- 20m. Strong stainless steel imports from China kept the lid on benchmark FeCr price at US$1.08/lb through Q1- Q2/CY15. Conclusion: Operations’ update highlights another challenging quarter. Operating costs came in higher than we forecast (R8.43/lb v R7.65/lb SPA estimates) on the back of weaker production (49.1k v 53.5kt SPA estimates). 200kt FeCr production target implies 52.9kt production in the FY15 final quarter. This implies running operations at 80% capacity, which is manageable as furnaces demonstrated higher utilization rates in the past. Additionally, regular maintenance works normally happen in Aug, the period of peak winter season tarriffs, and are not expected to affect production in Q4/FY15. Q4/FY15 production is expected to pick up driven by better utilization of UG2 ores, ramp up in the supply of the Lesedi mine MG1/MG2 material as well as improved production from the metal recovery plant. This should help unit costs as the Company is struggling to make margins at low FeCr prices and escalating local power costs. We are revising our valuation to account for a change in operating costs and will be releasing new estimates shortly. * share price Angel acts as Broker to IFL. Three share price Angel mining analysts have visited IFL’s ferrochrome plant in South Africa. |
Posted at 23/4/2015 08:29 by konil this is a poor result. my worry about sailing so close to the financing facility limit is now coming to the fore, having impacted operationally in that the co-gen plant will be out of action until much later.with co-gen expected to contribute 10% of ifl's elec needs and eskom's ever increasing tarriffs its importance is clear but progress hindered by lack of capital. its good they are taking a prudent approach to cash management but they really really really need to sort out a bigger and better facility asap! there is plenty of money sloshing about globally, they could even try euro financing which should be cheaper now with the latest q.e. programme. something has to be done, maybe the cfo needs to get appropriate help on board. comments about the industry outlook in the near and med term seem more downbeat than last update. overall the outlook for ifl remains 'jam tommorrow' with the added drag of 'maybe'. yuk! if stockmarkets exhibit the long expected correction from record highs, that more and more commentators are beginning to express, then imo the ifl share price will be slaughtered. holding firm but now very worried about my large investment here. |
Posted at 25/2/2015 15:29 by konil thanks for that info wildrider, useful to know how the industry sees things.according to jordaan fecr stockpiles have shrunk from 3 months consumption to 2 months (dont know if he meant globally or china only) . but he did say if fecr prices rose then dormant production capacity (from producers who have shut down at current prices) would come back on stream constraining further rises therefore he does not expect any big rise - that's different to no rise though. imo there are 5 fairly obvious factors which will determine the direction of ifl's share price in the near to medium term; - sudden shocks in wider markets, by which i mean if a serious bear does materialise it will hamper ifl share price regardless of how well ifl themselves are doing. with markets hitting highs much bad news is being ignored, so imo the possibility of a serious pullback is still there. - commodity pricing, which is dependent on economic factors and supply considerations. neither of these appear to be favourable currently and according to the metal pages piece wont be for fecr specifically until 2018 at least. - ifl success in reducing costs and showing consistent quarter on quarter profits at prevailing fecr prices. - ifl reducing debt or in other ways allaying investor fears over the debt facility especially when sailing so close to the facility limit. - absence of adverse operational issues which ifl do seem prone to albeit some of them may be outside management's control, or at least the ability to absorb such issues financially and still show a profit. imo the first 2 which are completely outside ifl control, could have the biggest impact on the share price but 2018 is a long way off, so i remain hopeful of better fecr prices before then, and additionally i look forward to higher ifl capacity at lower cost from 3rd furnace in 2017, and meantime hope ifl can deliver ongoing quarterly profits. near term a sharp pullback in markets seems likely though of course with markets hitting highs not many investors agree with that. for the time being i retain my 2p/11p exclusion zone for adding to my ifl positions. all imo, dyor, nai, etc. etc. |
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