Iofina Share Discussion Threads

[the librarian] 19/6/2013 13:27

Interesting that it is a conventional oil play, so there must be pockets of oil around there!
Glad that they are talking about getting the mini's online.... it would be careless not to!

[awolagain] 19/6/2013 13:25

Hello all,

just back in the country from a long time away...
Good luck at the AGM, better than mine this morning when I closed
out a long I have held from 149 by mistake, bloody computer!!!!
Market has been a little harsh I feel as no bad news in the RNS, delays
with weather etc are not a failing of the BOD...I hope we have some IIs
at the agm and they come away with a buy note in their pockets.

Hope to now have the time to join the debate...good luck all.

[n3tleylucas] 19/6/2013 13:06

Good luck mate! It's simply too opaque. One minute broker target is £8.2m pre-tax for 2013, then it mysteriously drops to £5.4m!

Of course nobody ever mentions this. Have fun digging! LOL

[writz] 19/6/2013 13:04

Bogg1e, (responding to your earlier post), yes, the full year Chairman's Statement, released in May, said:

"Recent production has been running between 800-900 kilograms ("kgs") per day, giving an annualised production rate in excess of 300 metric tonnes ("MT") per annum, which is 50% higher than previously thought to be achievable despite the plants not being run at full capacity. It is thought that at least a further 20-50% improvement in throughput can be achieved. Of particular note is the impact of temperature and brine source on throughput levels. Average production of 650kgs/day was recorded in April 2013 despite well issue shut-in's from operators due to adverse weather and electrical issues. In this context, IO#2 in Oklahoma, with brine received via direct pipelines from the well sites, is significantly more productive due to its higher temperature, especially in colder winter months, than IO#1, which receives trucked brine from varying well sites at ambient temperature. The start-up of both plants experienced delays, principally due to the extreme cold weather this winter in mid-states USA. Heavy snowfalls of over 75 centimetres impacted all field operators of the Group's third party brine streams as well as its own plant."

Today's statement included this statement:

"Production outages are still occurring due to power failures at the brine producers' facilities and extreme weather (such as tornadoes in Oklahoma and 30cm of rainfall in a day, as recently as 15 June 2013). In Oklahoma an extensive drilling programme is being undertaken in close proximity to IOsorb(TM) IO#2, further restricting brine flow due to temporary closure of producing wells. Production in Q2 2013 is expected to average 700 kilograms per day, with increased production expected from both full flow and additional brine volumes post the drilling campaign."

That adds a bit more background, and it could be argued that the 700 figure for Q2 is in line with the 650 (April) to 800/900 (previous, to be increased 20-50% in the future).

[bogg1e] 19/6/2013 13:00

Surely its possible to find the figures on the revenues generated by that sector of the company and the associated costs? The main cost variable would be whether the chemicals are derived from iodine produced themselves or whether a given percentage had to be bought in? I'm still compiling stuff on other bits of the company and haven't looked at that yet. Get yer sherlock on!

[n3tleylucas] 19/6/2013 12:55

Bogg1e,

If you mean saying you expect another record year is regarded as profit guidance to the market? LOL ... it's absolutely meaningless, and what's worse, it's secretive. There are rules on profit guidance. IOF are not just sailing close to the wind, they're ignoring basic market rules. In effect they're creating a false & disorderly market. They must say what they think they'll make in 2013.

[randolph and mortimer] 19/6/2013 12:46

I see BT named their new CEO within the very same paragraph which detailed the departure of the incumbent.

[bogg1e] 19/6/2013 12:41

Surely those expectations are presented in the previous december 2012 financial report?

[n3tleylucas] 19/6/2013 12:28

"The chemicals business continues to trade in line with expectations."

Absolutely meaningless without telling the market what those expectations are!

Aren't there rules regarding such comments?

[writz] 19/6/2013 12:12

rhw - yes, I just haven't seen it reflected on the (L1) chart before.

[rhwillcol] 19/6/2013 12:08

Writz: good question. L2 does that continuously: has done for months.

[n3tleylucas] 19/6/2013 12:07

Let me put noli's target into perspective.

We are now in week 25, noli's wk 25 target is 16.3 tonnes of production from 4 plants!

The actual Q2 weekly average from 2 plants is 4.9 tonnes.

noli's target this week is missed by a whopping 11.4 tonnes!!!

[writz] 19/6/2013 12:04

Why all the shuffling up and down on the offer?

[the fat controller] 19/6/2013 12:02

Chris Fay "100% now delivering"
Tech works; capex low; opex low; good markets
"Hyperpositive"
TFC

[rhwillcol] 19/6/2013 11:58

warmsun: me too! 210p (!).

[neddo] 19/6/2013 11:57

all small trades ? why do they bother?

[n3tleylucas] 19/6/2013 11:57

noli,

You have production of 6 tonnes a week for Q2 (excluding weeks 25 & 26 where you have 16.3 tonnes each week!!!)

Even at 6 tonnes a week throughout Q2, your target is missed.

An average of 0.7 tonnes a day is 4.9 tonnes a week.

Your targets are proving to be wrong. Kindly review and update please.

NL

[warmsun] 19/6/2013 11:54

Share Cadaver 19 Jun'13 - 11:40 - 2435 of 2438


are we talking top up time here?

=========

I have!

[mr paul b] 19/6/2013 11:50

Cheers chaps , like the bit about oil

[supreme mo] 19/6/2013 11:41

Wins just moved back on bid at 208....

[share cadaver] 19/6/2013 11:40

are we talking top up time here?

[n3tleylucas] 19/6/2013 11:34

noli,

You have plants 3 & 4 both producing in week 25.

This week is actually week 25.

Roll-out targets missed?

[worraps] 19/6/2013 11:32

Thanks skylite and supreme mo....great stuff, giving a real flavour of the session.