Iofina Share Discussion Threads

[freshvoicem] 03/6/2015 12:15

And presumably find cash to do it?

[awolagain] 03/6/2015 11:47

Wooly

It's a good point, but I don't know enough about US law to know if it is an option. Maybe there is a some higher court that he could appeal to, but he would have to have a good case to take it there...he would have to at least prove that he was not able to put his case etc...?

[superg1] 03/6/2015 10:58

Octopus

It's just a complicated document.

The PDTG for IOF was 41 pages long, The Ames rejection which could have taken 1 paragraph consisted of 40 pages.

It's that long as the legislation states that every aspect has to be listed in detail.

Carlisle couldn't even count the number of permits he listed. Some were counted twice and another was a change of use on an existing one. They issue new numbers on a change so you get a new record overlaying the existing permit for every change requested.

He listed those details as facts, which they obviously were not.

[woolybanana] 03/6/2015 10:47

Could the old man try a judicial review just to delay things further?

[octopus100] 03/6/2015 10:18

Water news deadline is 6th June - which means Friday 5th June latest.
Probably this is very easy decision - however they are probably going to the wire so that they can say to whatever party objects that they have spent the proper time and attention in reaching their decision.
My guess is that ultimately IOF will get it - however it does nag in my mind that this may be a bit of a backwater open to local influences - in which case if goes against IOF will be done in a way that it delays decision they have to go to higher authorities and ultimately get it in few years. - Lets see all will be revealed in next few days.

[the fat controller] 03/6/2015 10:03

depends how much cash is in your ISA.
TFC

[rhwillcoll] 03/6/2015 09:27

ridicule: looks like a rollover or ISA trade. Done at +/- same time, with small difference in price.
Edit: too large for ISA trade, so rollover.

[ridicule] 03/6/2015 09:21

Two 100k sales just gone through. Lets hope this is not a negative water leak. No pun intended.

[superg1] 03/6/2015 08:15

Continental resources news on 1st June

'In Williams and McKenzie counties, where Continental has its largest data set, enhanced completions are delivering an average 90-day production increase of roughly 40 percent for hybrid completions and 50 percent for slickwater completions when compared with its offset legacy wells.'

All operators are saying the same thing about slick water, production rates jump significantly.

Probably down to the large volumes of water used to create more fracture points that they did with the old systems.

[superg1] 03/6/2015 07:57

I've had a few questions re 'The German bank' case and Cosayach, so here are the details. The court case concluded at the end of July last year. I'm told Cosaych have not paid anything yet.

Some names on the list are also involved in the tax fraud case.

It's another one that started 15 years ago, State street bank ($120 mill) is an easy name to remember, the German bank, 'Kreditansatalt fur Wiederaufbau' isn't :-)


'ordered, his wife and former deputy Maria Victoria Ovalle, his seven children-Francisco Javier, Maria, Rafael, Maria Victoria, María Ignacia, Carolina Maria Macarena, Magdalena Errazuriz Ovalle, and former executives Inverraz, Sims and Jorge Eduardo Viada, payable in solidarity one indemnities for CLP 40 billion.'

"According to the judgment of 30, the penalty was justified by the non-payment, from the year 2000, loans for nearly $ 60 million to the German company and further dilution of assets Inverraz for about US $ 1,300 million in 101 new companies owned by the same family "for the purpose of infringing the guarantees and payments on such loans".


So you can see Cosayach and related companies have more or less formed on the back of taking loans then not repaying them. The recent US$82 mill tax fraud sums up how desperate they are.

[dropside] 02/6/2015 21:49

Some businesses still insist on a paper hard copy of a contract or confirmation, but most of the world now seems happy with a scanned copy and a pdf sent by email. Given this is also price sensitive I imagine the Montana water letter would be sent by email, at least initially, not rely on the post.

If the official route is still by post as superg1 says, this could follow on. However the US can be surprisingly bureaucratic (don't we know it) so maybe there is no advance copy possible.

[monty panesar] 02/6/2015 19:29

Of course there will be water news in next 2 weeks.Could be granted or could be delayed another few months. This has been going on for over 2 years and should have been granted 6 months ago so will "believe it when I see it" rather than expect to by x time on y date. On the balance of probabilities it will get issued in the coming days but it isn't the reason I own the shares as I believe in the core business now that production levels are rising.

  2 Jun'15 - 15:44 - 32981 of 32988   2   1

Just had it confirmed from Lance that water news is just days away and from Tom within next 2 weeks!

[jasisdad] 02/6/2015 18:50

I've got a sneaky feeling we will know by the share price before we see an official RNS - not that this has been leaky before!

[superg1] 02/6/2015 18:46

You guys need to read your own posts at times :-) More on that later IF things pop up.

Fresh within 2 weeks probably as a safety measure.

The official route is a letter via the post. If that letter was drafted early next week, with Montana snail mail it may not get to IOF by the end of the working week.

Considering US times and LSE market times then that gives 4 days not 5 to receive it etc, then report to the nomad and so on.

However that's just the rns official announcement not news as such.

Verbally they would obviously know, but I think the protocol from prior chat is to wait for it in writing.

[madchick] 02/6/2015 18:08

I like it. Kind of sums up the difference between Lance and Tom! Lance very loving of his baby, Tom very cautious with his.

[freshvoice] 02/6/2015 17:52

Well Bob the next few days will show which of them is correct.

[bogg1e] 02/6/2015 17:28

Bob, heard the same thing. The question now is protocol, will they call Lance, in which case he could pen an announcement, have it sent to the Nomad and announced the following trading day or will Lance have to wait til he receives confirmation in writing, which could take 3 or 4 days? Is there a way in which we can find out via the Montana web site? I know that the water application is removed once a decision is made (the page with "application received" etc) but there must be somewhere where it states that the permit has been granted or denied. Cheers.

[jasisdad] 02/6/2015 16:16

Jasp at that price I would be close to breaking even!!!!

[freshvoicem] 02/6/2015 16:12

Where does two weeks come from!!!!!!!

[bobsworth] 02/6/2015 15:44

Just had it confirmed from Lance that water news is just days away and from Tom within next 2 weeks!

[dontshoutatonce] 02/6/2015 15:41

Would that were true jasp - and proof we can't believe all we read!

[jasp2] 02/6/2015 15:33

Take a look at the share price on LSE. If only....

[jbe81] 02/6/2015 12:01

Shares look very tightly held.

[rhwillcoll] 02/6/2015 12:01

Hi Bobby,

Many thanks for your message. Yes, a very protracted process, but close to a positive conclusion, I am convinced. In Montana law, if you fulfil the criteria, you obtain the permit, which only needs a "preponderance of the evidence" (more yes than no) for this preliminary determination. The law has to apply equally to all, so Mr Carlisle got his, Mr Ames got (and has kept) his, and we will retain ours. That's the law, that's the system. But I will also be glad to see it in black and white! A surprise: yes, I believe you are entirely correct there. All the best to you also :-)

[woolybanana] 02/6/2015 11:58

Someone leaking news?