Iofina Share Discussion Threads

[heartwell] 29/9/2014 21:22

I fully expect they to use the expansion reason to do a shareplacing.
Standard failing AIM business response.

[arlington chetwynd talbot] 29/9/2014 21:14

Oh it will run out as planned. Then mr big takes a deep breath and takes this over(by default), de-lists and all Graham's US pals get shafted.

It's really quite delicious.

UK 1-0 USA

lol

[heartwell] 29/9/2014 21:08

Death by a thousand excuses continuing tomorrow.
Only a matter of time before the cash runs out with
underperforming production.

[arlington chetwynd talbot] 29/9/2014 20:56

Yes, nobody's saying we're due a funding tomorrow. As if that's some kind of victory!

I'm amazed that the so-called bulls are all becoming incontinent over these interims. No need, just wait patiently for the finals for extreme constipation relief.

Imodium will be prescribed.

[heartwell] 29/9/2014 20:55

Although they will need to think of more imaginative excuses for production to keep their gravy train going

[heartwell] 29/9/2014 20:53

Of course they will want to expand. Most AIM companies use that excuse because the existing business is hemorrhaging cash. Shareplacing at 20p anyone ?
No doubt there are some idiots out there like mister big, that would give these clowns another $5m to build another 6 useless plants lol

[superg1] 29/9/2014 20:33

Monty

Is that cash of $5m now, or at the end of June to make you happy? They had at least a couple of months of profit, so I would think it's not much different to the 2.8 plus 5 now, which leaves them comfortable as they optimise and sort the remaining issues.

[stevo2011] 29/9/2014 19:27

Also once they got a grip of their costs there will be tangible savings. And other potential savingsE,g from RNS in JuneIO#1 had record monthly production, with the plant continuing to run at record capacity, with little to no downtime. IO#1 continues to make cost-improvements with chemicals and supplies. Early this month, IO#1 will be subjected to a test that could potentially eliminate a certain chemical, resulting in additional savings. If successfully tested, the elimination of this chemical could result in savings of circa $4,000 a day through IO#1-IO#6 when combined.

[monty panesar] 29/9/2014 19:21

Rogerb,

I too am looking for a run rate going into October of around 1.4t per day.
Am also looking for cash around $5m. They had $2.8 m at the end of March and then raised $5m. They will of had to spend another $2m to finish of the plants, redundancies etc. I estimate with high sales in May and June receivables will be higher than last year since the product cycle is 60-90 days so it is the net cash position that will be more relevant.

[arlington chetwynd talbot] 29/9/2014 19:18

Always very good at explaining disaster after it happens Graham.

I seem to remember you attacking the people (more than one) who correctly forecast this mess.

I am still forecasting doom here, and you will be able to explain it all later next year.

[superg1] 29/9/2014 19:06

Cash is more than fine and so is recent production.

As for early H1, the whole set up has been kicked into touch, they did some serious damage but fortunately Mr Fix it returned with the gaffer tape.
You won't force him into chasing anything, until the looking after the pennies side is embedded into the business. Some brainless teenagers got hold of a credit card and went on a spending spree, without thinking about the bottom line.

That parrot is well and truly dead.

No doubt the market will do it's thing, but as for going forward the costs have been slashed, and the bank balance is fine with the odd month recently of profitability.

What matters most, is that the dry rot that caused the damage, has been cut out.

[rogerbridge] 29/9/2014 18:56

No one who is invested for the long term is expecting good results. If we are getting near to 1.4 + mt rate I will be happy.
Look at the prospects going forward, we can not do anything about the past.

[stevo2011] 29/9/2014 18:55

Interesting article ref chileJULIO PONCE LEROU has always mixed in high circles. He was married to the daughter of Chile's late dictator, Augusto Pinochet; and was the boss of the country's industrial-development agency, CORFO, until accusations of corruption forced him to quit in 1983. By the late 1980s Mr Ponce was in charge of SQM, a nitrate company with vast reserves of iodine, lithium and potassium in the Atacama Desert. He turned it into one of Chile's most successful firms and became extremely rich in the process. This year, for the first time, Forbes magazine named him among the thousand wealthiest people on the planet, with a net worth of $2.3 billion.But on September 2nd Mr Ponce suffered a setback. Chile's stockmarket regulator, the SVS, fined him $70m for illegal share trading, the biggest single fine it has ever imposed. It also sanctioned seven of Mr Ponce's associates, as well as the country's leading stockbroker, LarrainVial. In all, the fines totalled a record $164m.According to the SVS, Mr Ponce and his friends enriched themselves at the expense of other shareholders by buying and selling stock in holding companies that controlled SQM. They bought the shares cheaply at auction and then sold them back at above-market prices, pocketing the difference. They arranged the re-sales in such a way that third parties, who could have undercut them by offering market rates, were blocked from doing so. The losers, according to the SVS, were minority shareholders, including pension and investment funds, who saw the value of the holding companies diminish. This went on repeatedly for several years, the regulator says. It reckons the eight men made $300m from the scheme. Of this, the regulator claims $128m went to Mr Ponce himself. The defendants say that the accusations are rubbish; Mr Ponce claims that he simply profited from a bull market between 2009 and 2011, buying shares cheaply and selling them on as prices rose. He says the charges are motivated by the bitterness of those who were not so canny, including Sebastián Piñera, a former president. "If his excellency, the president of the Republic, had not played a part in this case, there would be no case," he declared after testifying before a state prosecutor in March. Mr Piñera was a minority shareholder in two of the holding companies, Norte Grande and Oro Blanco; they lost almost 70% of their value between 2009 and 2014. This case is far from over. Minority shareholders in the holding companies, including the pension funds, are threatening legal action against Mr Ponce and his associates in a bid to recoup their cash. Mr Ponce's lawyers say he will appeal against the fine.Yet the case also has far more important ramifications. The scandal has tarnished Chile's image as the least corrupt nation in Latin America, with a stockmarket to match. Hermann von Muhlenbrock, the head of SOFOFA, Chile's biggest industry federation, described the case as "a serious threat to the transparency of the financial market"; foreign investors want to know they will not be swindled out of their money. The evaporation of confidence in Chile's capital markets has already damaged the ability of some businesses located there to finance themselves. And trust in the country's financial institutions has taken a blow. Only 21% of Chilean executives believe this was an isolated case, and 20% think it damaged the market's credibility, according to a poll published on September 7th by Fondación Generación Empresarial, a corporate-responsibility group. Although 76% believe the regulator did a good job in pursuing Mr Ponce and his associates, 60% say it needs to be more vigilant.Although the government has put a positive spin on the fines by claiming that they prove no one is above the law in Chile, investors and the business community are not so easily convinced. In truth, if the stock-exchange regulator is right, Mr Ponce and his friends were above the law for years. And nobody, not the government, not the minority shareholders, and least of all the regulator itself, seemed to notice.

[stevo2011] 29/9/2014 18:13

Sorry I just can't read this without laughing and commenting - you are actually talking to yourself and everyone knows it. Laughing stock !

[arlington chetwynd talbot] 29/9/2014 17:58

Yes Heartwell, it is indeed a grim tale here for sure. Don't be in too much of a hurry to call the final curtain though. This act has legs, and a seemingly willing last resort funder... it's dying, but is not dead, just yet.

Patience.

[heartwell] 29/9/2014 16:30

Prepare yourselves for missed targets and more excuses.
September production failed again? Cash burn?
It's not going to be pretty folks

[che7win] 29/9/2014 16:00

So Mr Big, you are on the way to the poor house, bring your dimonds with you :-)

Sounds like we have a shorter flapping a bit or else a greedy trader, avatar created for the task at hand.
Either way, this avatar clearly expects a rising share price tomorrow and is worried.

I'll keep this post.

Heartwell 29 Sep'14 - 15:35 - 24877 of 24881 0 1

You guys should be more concerned by the next list of excuses for these plants not working. All leading to a cash call. Probably at 20p
Sell now and preserve your captial. It's going to be alot worse tomorrow morning

[roger melly] 29/9/2014 15:48

Heartwell/Netley/ACT
you sound like youre getting desperate to close your short!

[heartwell] 29/9/2014 15:45

Carry on and follow mister big to the poor house. I will be around to tell you "I told you so"

[stevo2011] 29/9/2014 15:42

You should be more concerned with getting mental help , I've never known someone put so much effort into creating countless profiles - you have no impact on the share price - you do realise that I hope , the last I'm saying on this as I'm boring myself to be honest.

[heartwell] 29/9/2014 15:35

You guys should be more concerned by the next list of excuses for these plants not working. All leading to a cash call. Probably at 20p
Sell now and preserve your captial. It's going to be alot worse tomorrow morning

[stevo2011] 29/9/2014 15:23

Lol he's so transparent

[freshvoicem] 29/9/2014 15:21

No, ACT I guess.