Iofina Share Discussion Threads

[angel of the north] 18/9/2014 13:34

After being fully aware of the probable date and day of the update I proceeded to add to my holdings a couple of days before at 52p.
This mornings news found me hanging by my nipples with fish hooks and wire for being so optimistic! it's a good job its chilly so keeping the nipples erect - could've been a lot worse.
Not feeling so bad about myself now that my feet are back on 'terra firma'!

[bogg1e] 18/9/2014 13:31

iofra, the water hearing was july 15th with the statement that a verdict will be issued within 3 months of the hearing date, which would be october 13th. However, given the fact that this is now in the hands of bureaucrats, i wouldn't panic if we dont hear by that date, so only a month to go.

If IO5 and 6 are still performing below par, i wonder if this will imp[act the time it takes to perform the operational review. Perhaps that may be delayed til year end. The point being is that i dont see the BoD investing in more plants/minis etc until the operational review is ready. With interrims only a week away, i expect other issues such as "offtake agreements", the plant roll out etc will also be delayed.

[captain_kurt] 18/9/2014 13:29

No new mobiles or fixed units without a supply offtake agreements was the message from the AGM.

The strategic review expected with the forthcoming interim results imo

[cyberbub] 18/9/2014 13:24

Highly unlikely, but it hasn't fallen as badly as some feared... so far anyway... remember that the Big boys are always in the know about the real picture...

[alphacharlie] 18/9/2014 13:22

blue finish anyone???

[spike_1] 18/9/2014 13:16

Hi all,

At the dentist this morning having root canal treatment, what a wonderful light relief from IOF.

Regarding this and similar: If the nomad knew the 40mt was heavily reliant on matters not yet concluded, they should have removed it from the rns. If not then a cautionary addition should have been made pointing out the risk.

The Company is expected to exit August producing 1.7 mt/day under normal, or expected, operations. Total August production is expected to be 40mt.
'
'under normal or expected operations'. So there was a warning but still an ill-advised gamble given previous problems.

Ho hum!

Best wishes - Mike

[iofra] 18/9/2014 13:10

What's the drop dead date on the water?

[bobbyshilling] 18/9/2014 12:50

We need the mobile units to be able to cherry pick and move to the best locations. Hopefully we will hear good news about the water permit soon - if that goes for a ball of chalk then I expect another wham to the share price I feel pretty let down by believing in what the management has told us in the past, and have invested here according to their assumptions and predictions. I hope they can turn it around - I am happy to leave my investment here until they do - I just hope no more nasty little surprises appear.

[microcline] 18/9/2014 12:46

Coming good just in time to pay the care home fees!

[bogg1e] 18/9/2014 12:32

We were told that fracking disruption would continue to march 2015 and that brines would improve from august onward, so we are only just nudging into the period where we can expect better brines. Obviously there are other problems, i wouldnt be surprised if they are due to variability of brine/oil cuts etc. Sure its disappointing, but i look at it relatively; 1) IOF production is still a engineering/chemical proposition that is still in its infancy 2) the business case still holds. As they need 20-25 tonnes per month to break even on the production side, we know that production is probably break even right now but IOCs increased margins guarantees that IOF as a whole is still running profitably 3) Having watched a whole basket of shares recommended over the time i have held IOF, most of them have seen just as dramatic share movements as IOF, but with one difference, IOF in balance is able to service debts and grow, with an excellent protective moat. Thats why i have always maintained, buy and hold for 5 years. IOF will get there eventually.

[superg1] 18/9/2014 11:55

I think most of those 'folks' that 'handed them over' included electronic triggers.

Richi

Good shout not to get out first thing, I've very rarely seen that as the best option buying on good news or selling on bad first thing.

There will be all sorts of forced sells first thing which can distort things. For folk like MR B they just stick in the order and relax.

However those not aware of the news, or aware and helpless with stop losses/ margins not covered, don't get a choice.

Helpless isn't the best word with guaranteed stop losses but you get the point.

I bet there are some very happy T traders out there who were forced out pre news. It didn't feel good at the time, but I bet it does now.

[freshvoice] 18/9/2014 11:54

Mister b
If you are right with how many you have bought we should see a holdings RNS for you soon? LOL

I await and watch.

[che7win] 18/9/2014 11:53

Well,
a poor update, but I did urge caution on August production, a lot of changes happening over that month.
Where they went wrong was to forecast 40mt.

Mr Big, tend to agree with you, I think a poor month for us will be around last months production figs, that will trend upwards from here.

The derivatives side is storming ahead, but August, I expect they will be eager to beat the low figs. moving forward.

[mister big] 18/9/2014 11:35

Let's see production was static at 21 mt , and everyone frantic and running around like the end of the world . The latest estimates or forecasts are set so management can beat them.
Meanwhile have bought 450k shares at sub 45 , so thanks to the good folks who handed them over ....
Yawn back to the pool ....!

[superg1] 18/9/2014 11:11

Worth a try.

We quite rightly ignored the good bits.

'These factors had a short-term negative effect on production, with production beginning to normalize in this last week.'

'we are encouraged that iodine production moving forward will show a favourable trend as these new short term items are rectified'

The key obviously isn't promise but execution.

[monkeymagic3] 18/9/2014 11:05

SuperG -It doesnt.

[1madmarky] 18/9/2014 11:05

I just don't think IOF can get a break at the moment. For the oil companies it is a relatively new area so things will change. Their plans will change and they will not ask IOF "Is it alright if we just disconnect this pipe while we upgrade something or other ".
We know the technology works we just need to catch a break for a while and get down to producing some decent amounts of iodine.
Hopefully midstates will tune whatever they are turning (assuming it's IO 2), fracking will calm down and we will be able to get on with it.

[superg1] 18/9/2014 10:59

MM3

If it helps, I note the entire Atacama desert has disappeared into a monster sinkhole, all that is left is a large nipple protrusion the in western pacific.

RB energy report that it hasn't affected operations, but they are having gravity issues while trying to load caliche into trucks. A power line that came down is expected to be fixed within 24 hrs.

They intend to use a different port to export iodine, and negotiations will be commenced if they can find a port.

[neddo] 18/9/2014 10:51

lance, no more reliable as the rest?

[superg1] 18/9/2014 10:51

Typically I read up on the skim tech (gun barrel) a while back.

It seems from prior reports that the particular SWD is at has high oil content. However the tech claims it can deal with that.

The lower flows (without info provided) I put down to high oil recovery, may be hitting the capacity of the particular tech, or they are working on the optimisation of it.

The claimed level of oil removal is down to 50ppm. If post instalment it was a lot more than that, the operator will want to get the efficiency as high as possible.

I didn't think for a minute that they could simply switch the new SWD kit on at full tilt, and it would be a miracle worker. As warned they didn't complete it on time anyway.

Mad

I didn't think you were so no worries.

On negativity I know it's not popular, but if I could pick that out from the July rns, then yes it had me wondering heavily how they could possibly hit 40mt without perfect execution. We now know the answer is, it couldn't. So it was a risky gamble to forecast 40mt, and I can't quite figure out the benefit of putting that forecast in the July rns.

Now knowing my caution was right, would I on the ground in the US have put 40mt in an rns, absolutely not.

Considering that the nomad reviews the content, they clearly allowed the risky content to be released, so I don't get the reason for that either.

If the nomad knew the 40mt was heavily reliant on matters not yet concluded, they should have removed it from the rns. If not then a cautionary addition should have been made pointing out the risk.

Any city guy that know such folk, I suspect would entirely agree (they do read these posts).

[rainbow23] 18/9/2014 10:40

Pie in the sky and false promises seems to be the order of the day with this shambolic management. I can't believe that the mug punters are still falling for their fantasy predictions and the belly rumblings of Mr Big. What a fiasco.

[wizard2020] 18/9/2014 10:40

So my Monday morning 'should I be worried' post was not as daft as many said. Maybe the real damage is to Lance's credibility.

[festario] 18/9/2014 10:25

SG1, MM3, ...Focussing on the word 'nipple' will be the thing that sees me through these dark days.Please continue to use it liberally, everything else is just noise.