Iofina Share Discussion Threads

[roundup] 11/5/2015 14:06

Mick. Thank you, at least you tried to do something.However, their reply shows how they have learned to use words without saying anything.

[superg1] 11/5/2015 14:04

Che

'If that's the case, if they had stated that in today's announcement, we wouldn't have fallen.'

Yes we would imo as I'm sure some positions would be uncovered T trades waiting for the news tomorrow to close out, most will have gone today with a few trades waiting for news too.

[nellyb] 11/5/2015 13:58

micknick, thank you.

[nellyb] 11/5/2015 13:57

hurricane - you still in?

[micknickbanny] 11/5/2015 13:52

For info, here's the reply I got from Tom Decker re my concerns about the delay in releasing the results...

We are disappointed in the delay but were not willing to rush to put out something that may not have been fully vetted by management. We simply needed more time to ensure that the document was accurate as the Company is committed to providing proper results and outlook to the market.

I still believe we are well positioned for 2015 and beyond.

[che7win] 11/5/2015 13:47

Cyber, It will still hit the profit and loss, they have to value the asset, decide what it's worth in situ, decide if plant needs written down or not depending if they move it.That begs the question and a decision from management - are they moving it, I guess they are or else it would be a simpler adjustment.Wouldn't have been a big deal if they had planned it earlier, but I guess the accountants have brought it up late in the day as it was only recently they decided to close Io1.Made a pigs ear of it somewhere! I'm not concerned if it's IO1, don't understand why the RNS could not state it in that case.

[cyberbub] 11/5/2015 13:39

It may well be IO1-related but why would it take 2 weeks to make a quick adjustment to a small part of the accounts?

[bocker01] 11/5/2015 13:15

I imagine IO1 being the cause of the accounts adjustment/late finalisation would indicate that the kits definitely going to move soon or is moving now. Otherwise it could just be left there with no write down on the basis it may/will reopen when the iodine price is right. IO1 moving increases output and reduces operating costs significantly.

[joeblogg2] 11/5/2015 13:14

Yes very badly handled and gives more ammo to the detractors of the company :(((

[che7win] 11/5/2015 13:13

If that's the case, if they had stated that in today's announcement, we wouldn't have fallen.

[superg1] 11/5/2015 13:07

Fresh

Not today he hasn't, and he rarely gets it right;-)

Talk is now whether io1 is needed to be recorded as a post balance sheet event which may not have been done.

The accountants among you will know re the relevance, and necessity of that.

[bocker01] 11/5/2015 12:33

If it's to do with IO1 moving, presumably they'd have to write off all ground works, and anything that's been capitalised relating to utilities such as electricity installation. The hardware that's being relocated would I assume be a separate issue.

[che7win] 11/5/2015 12:08

Superg,
As I posted earlier, that's the only reason I can think of.
However, the water division as Danster says could be similar if we don't get the water application.

These are headline figures (won't affect cashflow).

io1 may need adjusted but shouldn't be by much if it's being moved?

[freshvoice] 11/5/2015 12:07

Hurricane doesn't seem as happy and some used to say he had inside track.

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[superg1] 11/5/2015 11:57

After a bit of head-scratching and thinking by a few it could be simply down to an account audit re non cash issues around io1, depreciation etc, and it needs to be signed off.

[the prophet] 11/5/2015 11:55

keep a weather eye on these.What an own goal. over 4 months to prepare the accounts and then delay.
Re-inforces the view that this is not a well run company I'm afraid.
if there is some new news, put the accounts out and release the news as and when.Very poor,imo.

[superg1] 11/5/2015 11:52

Beeez

And uncovered T traders get more kicks in the gnads than a shoalin monk, but they keep coming back for more, legs wide open ???

[superg1] 11/5/2015 11:49

Danster

Why would they need writing down, the Atlantis assets have nothing to do with the permit.

I am sure it has nothing to do with that, but I'm curious re your understanding of it.

btw the HE has not announced a decision as yet.

[superg1] 11/5/2015 11:43

The only 'event' I can see that happened over the weekend was the storms over Texas and other states. 100's of flights cancelled and floods

It also says SE Oklahoma, IOF OK plants are in NW OK miles away from where the storms went.

They mention North Texas, off the top of my head I have no idea where io1 is in Texas.

National Weather Service meteorologist Matt Staley said there were numerous road closures in North Texas after storms dumped six to seven inches of rain on some places over the last four days.

[danster4] 11/5/2015 11:42

Or the auditors have said to wait. If the permit isn't granted the Atlantis assets would need writing down.

[beeezzz] 11/5/2015 11:35

I nearly brought some more last week, glad I held off.

Maybe the company is going to announce the water rights before the results just to soften the blow, as always its just guess work, Pi's are cannon fodder, no consideration no respect nothing, that's AIM for you folks.

[hurricane.] 11/5/2015 11:12

PIs will be the last to know of something nasty.
But this is a big clue imo

[superg1] 11/5/2015 11:08

Fresh

'I hope your optimism is well placed.'

It's easier just to ask the nomad, company, or both.

Answers from both have already been given this morning.

Nothing nasty that I'm aware of. Just total inconvenience all round.

[superg1] 11/5/2015 11:05

Great to see the speculation as always.

Ask the company, the vast majority of the speculation here is miles off what is being said.

I'm not guessing it was literally last minute, or that meetings were due to take place over here tomorrow.

Conspiracy theorise all you like. It's easier just to ask the nomad, company, or both.

Answers from both have already been given this morning.