Iofina Share Discussion Threads

[arlington chetwynd talbot] 27/4/2015 12:57

Looking forward to the accounts Graham, Baker Tilly? Yeah they'll get down to it...

[superg1] 27/4/2015 12:23

Napoleon.

Ignoring natural disasters I think an increasing power/water crisis is the next matter to affect mining.

Chile is also big on agriculture and if you glance that way it's full of tales of woe, crops dying, vineyards dying, desert expansion etc. It's also affecting milk and meat.

'Drought in southern Chile is generating significant losses to producers of milk and meat. The rainfall deficit has directly affected OF PRODUCTION of forage for livestock feed'

March 15
'The drought, which began in 2007, is hampering copper production in the world's top exporter, exacerbating forest fires, driving energy prices higher and impacting agriculture.'

Much of Chile's power come from Hydro-power (40%) from the south, but the south is being hit by a long drought. Less water = less power. In the north the water struggle means mines have, and are, moving to seawater. Therefore they need more power.

If the southern drought continues, there are going to be some serious power issues.

[rogerbridge] 27/4/2015 11:22

Just had another small top up of 5000 IOF shares.

[neddo] 27/4/2015 11:13

do we have 100% percent filter on the clown?

[superg1] 27/4/2015 08:53

An earthquake is next, but it will be centred on the finances of Cosayach which should see them crumble. That should reveal itself through the next few months as bosses get charged. I actually found some of the false invoices but can't recall where.

It will be amazing if they survive the current onslaught. No doubt they are refusing to pay the two banks. That is more about the collection of companies. The tax fraud is directly about iodine.

Back in 2001 Cosayach were going to fold due to a $100 mill award to the bank. Somehow that case dragged on until late last year, but then 2 hit at the same time (now $190 mill). In Nov 14 the tax fraud where they failed to pay US $82 million came up. False companies and invoices where they showed their sale price to be $26 per kg when the iodine price was double that.

[napoleon 14th] 27/4/2015 08:38

What next for Chile?
Volcanice eruption threat.....
Volcano is Calbuco, red allert.

[superg1] 27/4/2015 07:11

Sefton

That's what ignoring them does, it's the one thing that winds them up. :-)

[arlington chetwynd talbot] 27/4/2015 04:05

The Fall are good, well Mark is;



hic!!!

[arlington chetwynd talbot] 27/4/2015 02:03

You may swear, you work on the rigs... these girls do light duties...



hic!

[arlington chetwynd talbot] 26/4/2015 20:27

Not the only ones... pmsl

[superg1] 26/4/2015 17:05

Not an investment but just a handy find. Probably known by all and I'm way behind.

Those darn phone calls from various folk. Get yourself the call blocker phones.

Any numbers not stored have to ID themselves first. The phone doesn't ring unless they ID themselves and press #. The phone tells you who it is in an audio message, then if it's still junk, just press 3 and it blocks that number from calling again.

Marvellous.

[superg1] 26/4/2015 16:59

Roger

I particularly like the Norway company for the fraud. We all know have active Norway is as a world hub for iodine imports and exports, NOT.

I also note the mention that the Chile prosecutors already have a report provided by US customs, so I wonder if some end users in the US may get slapped wrists too.

It should be interesting when the Chile authorities start to reveal what they have found in the coming weeks and months. It may spell the end of Cosayach looking at the figures involved.

$82 evaded mill tax to pay, plus up to 4 times that in fines, plus $190 mill in court orders for the two bank claims ($70m and $120m) in other unconnected cases.

By the time it's all sorted $350 mill to $500 mill to pay it would seem. In iodine terms that would mean the profits from about 50,000 mt of iodine at current prices. Potentially with the business being run from jail cells.

I think they have a slight problem.

[superg1] 26/4/2015 16:28

Bazz

Bin that video, while it's dated recently it's an old one.

[rogerbridge] 26/4/2015 15:59

Looking better for IOF all the time.

[rogerbridge] 26/4/2015 15:59

Looking better for IOF all the time.

[superg1] 26/4/2015 13:11

Bazz

That's enough for me, it sounds like they have been running illegal wells. The guy is the boss Francisco Errazuriz, there was no need for him to get involved.

Whatever he says will be lies of course, that's just the way they are.

Cosayach don't have any water rights there, and were previously taking water from an aquifer where SQM have rights.

They do now have a seawater pipeline but imo they will still steal what they can if they think can get away with it, as pumping seawater is expensive.

[spike_1] 26/4/2015 11:43

Thanks Bazz! - appreciated.

[bazzerp] 26/4/2015 11:35

The gist is that the guy is complaining that they Cosayach are whiter than white & have followed the Law, but have been waiting 10 years for approval for a water container (extraction I presume). Then a guy finally comes to inspect what they are doing & accuses them of illegal activities.

Sorry but got the gist from my Mexican son-in-law whos English vocabulary is
still a bit limited.

[superg1] 26/4/2015 09:48

In other words it's all shaping up nicely.

Welcome to Chile.

I can see the new analyst questions now.

Who are your main competitors, and what is their position?

[superg1] 26/4/2015 09:44

Update re the Cosayach tax frauds.

It's from about 2 weeks ago and worth a read to understand where they are, and what is going on.