Iofina Share Discussion Threads

[superg1] 26/3/2015 21:17

I can see IOF getting the tippex out now re the strategy with all these shenanigans.

No worries give it to a nomad they will just strip bits out and leave blanks until the news doesn't make a darn bit of sense anyway. They are accomplished experts in that area.

[superg1] 26/3/2015 21:11

Nice details Fresh.

If I was him I'd take the offer get out and then sell my shares which I couldn't do as a director.

To add a bit more. Chile prosecutors go the go ahead to raid SQM offices which is being done now, seizing accounts and computers etc.

[gadolinium] 26/3/2015 20:52

Blimey,
these Spanish to English translations are even more difficult to follow than Babylonian cuneiform script.

[freshvoice] 26/3/2015 20:23

While Julio Ponce moving parts to maintain control of SQM -the last week took out $ 10 million to buy actions- pocket, pressures against him are rising amid the crisis in mining, investigated for alleged crimes tax, bribery, misappropriation and trucho financing of political campaigns.

The Financial Journal records that one of the foreign investors with significant presence in the mining equity demands nothing less than the son of former dictator Augusto Pinochet go.

"E s inappropriate for any director who has been found guilty of insider trading sitting at the table of a company that is publicly traded, "said SailingStone Capital Partners, an investment fund that also calls off Patricio Contesse Fica, the son of former CEO Patricio Contesse G.

The DF detailing the fund holds a 14.98% stake in the series, hence the importance of the onslaught.

SailingStone Capital Partners Ponce criticized for her acting in the corporate directory, as well as the "failure as president to create and strengthen corporate governance practices reasonable".

The investor said of the son of former manager who had stopped the investigation after an appeal in the TC -the yesterday was impermissibly declared that "it is not appropriate Patricio Contesse Fica vote on any question at this time because the apparent conflict between him, the company, and directory. Without their participation, we believe that the board would no longer have a quorum to make decisions until the new nominees were elected by shareholders at the next shareholders meeting in April. "

According Sailing Stone, the presence of Ponce Lerou in the directory prevent the company follow a proper strategy while being investigated by the prosecution, that this day was preparing to resurface the offices of the company, located in the commune of the Condes.

"The inactivity of the table is having a negative impact on the reputation of the company, its share price and the value of our investment. In our opinion, in simple words, the directors of the company are not fulfilling their fiduciary duty to the other shareholders of SQM, "says the letter to the SEC and signed by the managing partners Martin Engel and Ken Settles.

In this situation, they ask that the next meeting of shareholders held in April--a is reset the directory and the presence of all owners, including Canada's Potash Corp. is guaranteed

"The current directory should not make fundamental decisions, including those relating to dividends, until the current table is restructured," they argue.

Scale the international front in the crisis

The onslaught of the investment fund based in San Francisco is another episode in the external front facing Julio Ponce product SQM case. Last week there was a break into the directory, then leave the company of the three representatives of PCS. This occurred once had "demanded a clear, independent of the company thorough investigation".

As the board refused, Wayne Brownlee, José María Eyzaguirre and Alejandro Montero stepped aside.

In this situation, the Canadian analyzed whether or not maintain its presence in the mining.

Along with that is that began to take shape from the US class action by shareholders who bought ADRs of SQM in New York Stock Exchange, who complain about losing money by the decline in the share price.

On Thursday, the company, through its CEO Patricio de Solminihac, returned to admit that there truchos by 11 million between 2009 and 2014 in exchange for false invoices or payment slips. Through these is that would target black silver to political campaigns.

In that scenario is that the prosecution is preparing for a new raid on the company.

[sandbag] 26/3/2015 18:53

Shouldn't be a problem anyway.We're well covered by insurance against tornados (post 25838 on the old board.)

[superg1] 26/3/2015 18:16

Sand

A tornados 200 miles from IOF plants. Tornados generally cover small areas and are on the ground for minutes.

[awolagain] 26/3/2015 16:49

Crazy...they need rain but not all at once...feel sorry for the people who live there.I can see the Iodine been washed away.

ANTO on a roll price wise for the last week
SQM holding 19...madness...it penny hasn't dropped yet!

[superg1] 26/3/2015 16:17

Ignoring moan central it will be interesting to see if the rain and floods have affected operations re iodine.

Antofagasta is affected badly which includes Algorta Norte, SQM (Pedro mine) and RB energy.

Besides the landslides, roads washed away, services and power disable etc etc. If it's is persistent enough it washes the iodine out of the Caliche too.

Chile need rain, but the last place they needed it in was in the north. The north is very dry if it does get heavy rain is highly destructive.

The full picture isn't known as yet and the rain has yet to stop. When the rain clouds finally part we'll see what damage and chaos has been caused.

[sandbag] 26/3/2015 16:04

On the subject of weather Oklahoma 's being hit pretty hard too but I do't believe it will affect IOF at this stage.

[superg1] 26/3/2015 15:25

No BR left here a while ago and good riddance.

I'm watching another share diving and sure enough it's because they are sellers.

BR are a pain in the backside for any AIM share if they are a holder, I now avoid wherever they are.

[awolagain] 26/3/2015 15:23

Hi SG

not been on the board....I get your point....no point in crying it won't make anything happen!
I saw your post re BR...are they the seller?

Yep someone picking them up...thank you very much lol!

[superg1] 26/3/2015 15:12

Could do with Beeks on here, or Boggle on a bad day. :-)

I can only put up with moans and groans for so long plenty of threads available to moan all day long should anyone feel the need, or set up a 'balcony' (muppets) thread, 'one foot in the grave' (Victor Meldrew).

Did anyone bother to look up the Chile rain?

National emergency in some areas, flash floods, deaths, towns wiped out, power cuts, roads washed away etc etc. Do the areas of Atacama, and Antofagasta mean anything to anyone, as that is where the trouble is. Any iodine production in that area?

It could mean a few days delay, it could mean weeks, but I'd be surprised if certain mines are not affected.

No good for the share price on a Thursady afternoon, but someone has been happy to buy.

[roundup] 26/3/2015 15:04

Especially when we are watching our investment dwindling by the day.

[chumbo] 26/3/2015 14:42

Patience is a very difficult virtue to master

[neddo] 26/3/2015 12:10

makes you think why it is taking so long , after all , reading on here it was all cut and dried?

[festario] 26/3/2015 11:28

With the lack of tangible information, or in fact any information... one could be forgiven for wondering whether either Mr Big, or even IOF still exist !!

I'm sure they do by they way, but one could be forgiven for wondering...

Still, at least the trolls are bored enough to leave us alone.

[superg1] 26/3/2015 11:22

A quick bit of what I think is useful info having seen comments on many shares.

Blackrock

That old fave institution that seems to ignore reporting obligations and folks wonder who is the seller on their share.

I'm guilty of it myself when stating they seem to be a law unto themselves in relation to holdings reporting.

The standard rule as we all know it is any break of 3% holding as the starting point, then it has to be declared. Then any 1% move up or down also has to be reported.

Except for some which include Black rock.

I have literally just spoken to their threshold reporting team to try and understand why they seem to act differently, or not report it at all.

EG I have seen a few releases were they show the holding has gone below 5% but the current holding is shown as N/A. That to some might indicate they now have none. That is not necessarily the case.

So here is the answer, some may know it.

Blackrock have investor advisor exemption. That means they only have to report a 5% breach.

If they go below 5% that's it you will get no more, and they aren't obliged to state how many shares they have left after the 5% breach.

As I have said before BR are notorious for just dumping small caps, with any loss to them, or share price effect of little interest. A little old AIM company is no interest to their trillion dollar funds.

[superg1] 26/3/2015 11:01

Re Mr Big

He's been quiet, his claims of where it would go and all his intended buying under 50p didn't seem to carry much weight now that time had moved on.

[superg1] 26/3/2015 10:59

Fresh

No idea re the seller the register doesn't suggest anyone in particular was selling.

As said it could be a CGT offset event, we'll soon know post tax year end if it is still around by then.

Could be someone completely p'd off, forced seller, and a whole host of things. The general circs in OK on the oil side should have equated to less disruption and better production.

It's deadline day for RB energy and the bids and some guy has been suggesting only one bidder was left. If the bidder knows that they won't be shooting very high on any offer (if at all).

[nixonpaul] 26/3/2015 10:51

Possibly Mr Big?
I hold by the way

[freshvoice] 26/3/2015 10:39

Well the rain hasn't washed out our persistent seller. Wonder if its an ex director?

[superg1] 26/3/2015 09:37

Btw the rain issue has hit the main iodine production areas, I just don't know yet what impact it has had.

[superg1] 26/3/2015 07:16

Chile got some rain all over the Atacama area. It doesn't fix water problems and creates chaos with flash floods, land slides, power cuts and various other issues.

Normally it's localised but It's across a wide area including Peru. Many copper mines have temporarily shut, national emergency declared etc.

The area is powder dry so when heavy rain hits it just turns into a soup.

Various news out there, I'll leave you guys to hunt for the various news but here is one.

[rhwillcoll] 25/3/2015 22:23

"We will not lose sight of our core business, however" - Well, they will if those assets were wrongfully gained in the first place? Maybe it's not just fines, but removal or closure? I'm not sure of the powers of the authorities/courts in Chile,
but I would imagine that they would be considerable.

[monts12] 25/3/2015 21:07

More hot air from their new CEO:

"Relating to these matters in Chile, we are facing a claim filed by the SII. In the United States, we are aware of civil lawsuits by shareholders seeking to establish a class action for unspecified damages based on the allegation that the company failed to make certain disclosures about these issues, but we have not yet been served.

We are taking all these issues seriously, and are working diligently with our tax and legal advisors, and collaborating with the competent authorities, in order to resolve the issues that I have mentioned in a timely manner. We will not lose sight of our core business, however. We are the world’s largest producer of iodine, potassium nitrate, lithium hydroxide and industrial sodium nitrate; we are also a major producer of lithium carbonate. The fundamentals of each of our business lines are strong, and demand is growing, and although we have faced lower pricing in some of our business lines, we are the lowest cost producer in most of the major products that we sell. In fact in 2014, we reduced our costs even further, improving our EBITDA margins. SQM has great assets and a proven track record of growth; we also have a great team in place that is dedicated to the Company and is focused on maximizing value. As I look toward my future as CEO of this company, my team and I will work tirelessly to overcome the challenges of today and embrace the opportunities of tomorrow."