Iofina Share Discussion Threads

[superg1] 19/3/2015 22:50

The fact is city respected folk and funds were talking big numbers. That potential still exists but Lance and now Tom like to do it patiently without massive dilution. If they had the cash we wouldn't be wondering about what next, as many many plants would be in.
I'd rather have a cautious approach rather than ferocious cash burn any day. That said I think it's one sector where it would pay off. Although I'm sure it's been a case of watching how low SQM would take it before reacting.

[roboben] 19/3/2015 22:36

Napoleon - re your last sentence. Welcome to the club. I assure you that you are not alone!

[superg1] 19/3/2015 22:35

Napoleon

I didn't miss your 10 bagger IOF tip and I think you will be proven right. About 2 years ago I posted and warned investors about investments in Chile related shares. It was all based on water and power issues combined with rising costs. Analysts and tipsters had it all as a buy. 2 years on and it's a mess top to bottom due to water, power and rising costs.
I also said many times that SQM, RB and others were lying. Now it's known they were.

IOF is in a very interesting position. It takes time to unfold and they haven't run up £200 mill of debt.

In the fullness of time, imo if IOF get it right, they will be one of a rare breed that breaks free of the AIM trash tag.

[brucie5] 19/3/2015 17:38

Sp certainly looks like it's come to a stop here. Market doesn't want to price in any upside, but neither is anyone willing to sell.

Stalemate in absence of water rights and/or update on production?

[hurricane.] 19/3/2015 17:35

Just need the plan for world iodine domination from Iofina now

[awolagain] 19/3/2015 17:32

Now how ironic would it be if SQM made an offer...giving their current situation it might not be a crazy idea!

[kattatogaru] 19/3/2015 16:30

IOF looking sweet now for takeover from chemicals firm with appetite for risk to pump a couple hundred million on scale up of the proven tech... A well-executed plan could grab significant market share, edging out the miners whilst they flounder in a quagmire of their own making.

[superg1] 19/3/2015 15:54

It's quote amusing watching the buy on the drop game re SQM.

The buyers won't have the slightest clue about the iodine production drop, the risk to their water rights with no back up, and the risk to their leases in the CORFO case.

[freshvoice] 19/3/2015 15:44

The vultures are gathering

INVESTOR ALERT: Investigation of Chemical and Mining Company of Chile Inc. Announced by Glancy Binkow & Goldberg LLP
BSW
Peiffer Rosca Wolf Announces SQM Investigation on Behalf of Chemical & Mining Co. of Chile Inc. (SQM) Investors
BSW
EQUITY ALERT: The Rosen Law Firm Announces Investigation of Securities Claims Against Chemical & Mining Co. of Chile Inc.
BSW
SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Announces Investigation of Chemical & Mining Co. of Chile Inc.
PR NEWSWIRE
SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Chemical & Mining Co. of Chile Inc. - SQM
PR NEWSWIRE

[freshvoice] 19/3/2015 15:32

Yesterday, shares foundered leading the falls of the day as the three executives representing Canada's Potash Corp. (PCS) stepped aside, citing lack of transparency amid accusations of deviations truchos to political campaigns , which obviously should clarify the investigation of the Office.

As recorded by La Tercera, the Superintendency of Securities and Insurance (SVS) officiated at six in the evening Julio Ponce to within 24 hours to respond by the departure of executives; ie, how it will continue to operate the directory.

But the job market regulator not only focused only in that fact, as also requested background of the ad hoc committee set up in February to study that investigates possible wrongful prosecutors.

The sharp drop in stocks

Yesterday, at about 10:53 am, the Santiago Stock Exchange decided to suspend transactions SQM after they experienced an absence of more than 12%. After ordering the mining to report on the situation in later transactions, which ultimately led to a decline of 17% were resumed, closing at a price of $ 11,752 each. Thus, the roles of the mining accumulate a fall of 25.96% in March, down 20.29% in the year.

[freshvoice] 19/3/2015 15:25

also


The legal deputy director of IBS, Cristian Vargas, confirmed that prosecution presented on the edge of Penta case involving SQM, putting a deadline on 30 April.

"We have enough evidence to decide to bring actions before that term," according slogan El Mercurio, adding that he believes these will be announced "soon".

The lawyer said he has requested information to SQM "to found the decision to criminally or no action" and that "we did a series of measures, (...) we are in the final stage, the culmination of gathering background".

He also indicated that the background information provided by mining Monday can not be considered handing themselves, and therefore obtain its benefits: "The truth is that they have not submitted handing themselves, all they did was make available to the SII's electronic accounting for certain periods of 2009-2014, but the founding history of it, no bills, no bills, no contracts ".

Vargas did not explain whether the action will address the ballots of 2009, the limitation period for prosecutors investigate expires on April 30. However, he recalled that having re-offending operate the interruption of prescription.

But the expansion of the complaint would be the only decision of IBS on SQM. High sources of the organism further notes that yesterday notified the firm to provide information on a number of "new irregularities" detected for the period 2009-2014, also ideologically linked to ballots and false invoices.

They claim that the company must answer these requirements and, if no satisfactory answers, a new civil or action (complaint) criminal (complaint) will be analyzed against the signing of Julio Ponce.

The SII also emphasize that the request for information by these new irregularities closes the door to the possibility of "self-reporting" about them, a mechanism in the tax legislation that would allow an administrative solution to tax defaults SQM through payment of taxes due, plus adjustments, fines and interest.

However, the agency noted high sources told La Tercera that further prosecution could initially cover the whole period 2009-2013, can be extended even until 2014, and has already notified SQM they found a number of "new irregularities" in their accounts.

The actions of IBS with SQM edge and the absence of prosecutions generated one wave of criticism of its director, Michel Jorratt, and a tense situation with the prosecution, body yesterday he asked the accounting information Soquimich Monday handed threatening take him to court if he failed.

In response, today Jorratt first spoke at length to the controversy, ensuring they are working with responsibility to gather background, according to established procedures. He also said that they do not accept pressure from any side and not acting according to political interests. "As long as I manage I will not allow the act of IBS! Politicization" he said.

[freshvoice] 19/3/2015 15:19

From Santiago The clinic

Far off is the controversy between the attorney and the IRS on the edge SQM Penta case. This is because even though the Service is committed to providing all accounting information was provided voluntarily by SQM him before the Constitutional Court freeze the investigation, the differences between the two institutions seem bigger with each passing day.

"The service can not act with incomplete or precarious history, we have never failed to meet our obligations, the service does not work for the gallery," said blunt the legal director of the watchdog, Cristian Vargas, speaking to Radio DNA.

On the request of the National Prosecutor, Sabas Chahuán, who announced to take the matter to the Court of Appeals did not voluntarily mediate delivery, Vargas said that "the Service will provide the Prosecution all the information required for the investigation of crimes such as who said: bribery, bribery, misappropriation, and any other criminal offense ".

As stated by the same head of the agency, Michel Jorratt on Thursday of last week, Vargas reiterated that "when filing a complaint the Service must be founded, with specific background. The Service may not act with incomplete or poor record. "

Recall that the controversy erupted that day after Jorratt, whom many are pushing for leaves office, said the lack of records by the Prosecutor had prevented a grievance or complaint to delve into the case.

Despite this refusal to sue, prosecutors alike had insisted on obtaining accounting information from mining through the voluntary surrender of it.

On Monday, after a lengthy board meeting that took some aftershocks during the week, Julio Ponce miner eventually chose not deliver to the prosecution history, but at the same SII, looking somewhat self-reporting strategy via that Jorratt had left open last week when he urged taxpayers who were in a similar Penta to them to approach the Service to seek out an administrative situation; something like paying taxes owed to disengage from the situation.

Meanwhile, while running the days until the parties attend the hearing on March 25 cited by the TC, the pressure to Michel Jorratt out of office are increasing, both from the right and MPs of the ruling and deputies Hugo Gutiérrez and Rene Saffirio.

Break in the directory and stocks lower

On Wednesday, it emerged that the three executives who left their positions in the directory SQM, representatives of the PCS Canadian accused little transparency over the case of phony campaigns and possible tax offenses, bribery and misappropriation cases.

In addition, the company suffered a setback in the market once the Santiago Stock Exchange suspended trading of SQM-B after observing a drop of more than 12% before 11 am.

[1madmarky] 19/3/2015 15:13

This is all quite amazing.... And does suggest that the future price of iodine will be significantly greater than today. Once all the fraudulent avenues are removed that is. The playing field has definitely changed! GLA

[superg1] 19/3/2015 13:39

I've not seen the article myself yet but I understand this is just out.

'Tax authority preparing lawsuit against SQM for issuing fake tax receipts to reduce taxable income'

[superg1] 19/3/2015 07:39

Google translate used so a little confusing, but it gives the background and shows that there is in some ways a general uprising against SQM.



Here we are in the presence probably something larger than Penta. It is presumed that SQM has contributed to the irregular financing of political campaigns in all sectors: New Majority and Alliance for Chile, left and right.
The SII is an institution that administers the tax contributions of all Chileans. People, companies, rich, poor, everything comes to the coffers of IBS. Consumption taxes (VAT, specific), rents (complementary global, first and second category), money of all Chileans. Business Penta simulated losses for 5 consecutive years and paid no taxes. Indeed, on aggregate, IBS returned more than $ 280 million to Empresas Penta


In the Penta case ( a bank) they represented false losses, paid no tax and got rebates.

[monkeymagic3] 19/3/2015 06:27

Monts12 - agree wholeheartedly.

Ps

I remember when George was hailed as the saviour.

[monts12] 18/3/2015 21:09

Well IOF is not currently equipped to fill any gap in the market, our declared production levels are measly by comparison to the seemingly huge hole in production that is becoming evident in Chile. What we need is to ramp up production via off take agreements, thereby funding further plants on sweet spots, either full size, minis or both. I am intrigued by the idea of taking control of our own SWDs or wells on sweet spots. This would reduce our reliance on the oilers whose own viability seems to be in the balance wrt oil price. In short, we need to know what the strategy is going forward, irrespective of whether or not the water permit is awarded.
I hope they take the opportunity to tell us in the next few weeks, maybe coinciding with a quarterly production update. The water permit is a big bonus imo as it will bring in some cash from a JV but we cannot just drift along until the verdict, we need to be informed of "the plan" which will lead us to becoming a world leader in iodine and iodine derivatives.
What is it?

[aja5] 18/3/2015 20:55

You would think some one will go long iodine if they join the dots and the price starts to rise !

[woodpeckers] 18/3/2015 20:46

So surely these analysts that have been covering SQM and are now seeing the true colours will start putting two and two together and start wondering who will fill this G A P in the market that must come....

[aja5] 18/3/2015 20:20

Sg ....have you opened up this can of worms ??

Pmsl

[monty panesar] 18/3/2015 20:08

Just as reminder to myself and others. This was last June so Cosayach iodine production must have dropped in H2......


Privately owned Cosayach, one of the biggest iodine producers in the world, has been found guilty of illegally extracting groundwater from Chile’s Tarapaca province, one of the driest places in the world. The company has been ordered to close 38 wells, which is expected to hamper capacity expansion this year.

A director of the privately-owned Chilean iodine producer Cosayach has been sentenced to 61 days in prison after the company was found guilty of counterfeiting water rights in the areas of Cala Cala and Negreiros, northwest of the coastal city of Iquique.

Contreras Carlos Quispe was sentenced by a court..