Iofina Share Discussion Threads

[1madmarky] 02/7/2015 17:46

hxxp://www.zacks.com/stock/news/179987/us-rig-count-up-for-the-first-time-in-twenty-nine-weeks

[ridicule] 02/7/2015 16:59

SG1 what if the Shale producers have to cut back their production as their $90 hedge options unwind and they cannot retain their capital borrowing deals (requirements) against a $60 price. Is there not a chance of brine supplies drying up or at least dramatically reducing?

[abid6814] 02/7/2015 15:42

I'd like to see some director buying. If Iofina execs can't see the value at this level then it sends an incredibly negative signal more widely.I am a holder in RM2 having bought in at 48p and have seen consistent director buying over the last year.

[superg1] 02/7/2015 14:25

as I said silly sods

the Greek government plan to hold a referendum this Sunday the 5th of July, if the referendum goes ahead there is the risk of a large market move at the weekend, as a result we will be doubling the margin rates on selected indices products as of 1am on Thursday the 2nd of July.

[superg1] 02/7/2015 14:23

Yes of course meb, but some silly city folk think a Greek exit from the Euro will affect the market.

I bet they are falling over themselves buying shares all over the place.

Meanwhile SB companies up their margins required EG spreadex.

[meb123] 02/7/2015 13:58

re price drop today . Of course its convenient to blame it on Greece or T trades. I dont buy that . There could be other reasons conveniently missed like investors selling out on expectaion of bad news , selling due to plain fatigue ( ie they think this share is going nowhere ) . Or even for the few II's there are , there stop losses have been broken.
Perish the thought-insider dealing as some know that there will be bad news .

we could do with more realism tbh :-)

[superg1] 02/7/2015 13:33

On the RB topic. They took up front payments (11mill)mortgaged against the mine, but that fact slipped their mind when they mentioned the payments in advance from Tewoo. It looks like they had near 120 mill of debt on top too but never mentioned that either when they talked about 'selling' the mine. Have a read RB dirty tricks it seems.

STATUS OF THE PETITIONERS’ CHILEAN ASSETS
29. As at March 31, 2015, AMC had approximately US$39.2 million of third party debt, including US$34.3 million of bank and finance loans. In addition, AMC has approximately US$84.0 million of unsecured related party debt owed to Chempro Finance Ltd. (“Chempro̶1;), a direct subsidiary of Sirocco.
30. As discussed in the Monitor’s Fifth Report, according to the Initial Order, the Interim Lender has a priority charge over all of the Property of the Petitioners, including Sirocco. However, it appears that the Interim Lender does not enjoy priority over the shares of Boron Chemical Holdings Ltd. (“Boron Holdings”), the wholly-owned subsidiary of Sirocco and the indirect parent of Atacama Minerals Chile S.C.M. (“AMC”), the owner of the Chilean Operations. Tianjin Products and Energy Resources Development Co., Ltd. (“Tewoo”) is owed approximately US$11 million by QLI. Sirocco guaranteed QLI’s debt and granted Tewoo security in the form of a mortgage over the shares of Boron Holdings (the “Tewoo Security”). In the Receivership Motion, the Interim Lender stated that it does not assert priority over the Tewoo Security.

[bobbyshilling] 02/7/2015 13:30

Heap big heap, Kimmosubby.

[1madmarky] 02/7/2015 13:22

The above is a Google search for mathematical modelling of caliche heap leaching a PhD thesis by Javier ignacio ordonez contreras. On page 28 is a picture of a heap.... It really is big

[superg1] 02/7/2015 13:20

1MM

They had inventory and Zi was guessing about 400mt by the end of 2014 due to previous documented sales. They had 800mt at the start of 2014 plus about 1200 mt production.

As from export days previously listed 90 percent plus was going to India and China.

It the liquidation situation Tewoo have the first shot on the iodine left as they had paid cash up front for Lithium and the RB team secured it against the iodine mine.

Tewoo don't seem to have much of an iodine interest so they'll just be looking for cash recovery it seems.

[1madmarky] 02/7/2015 13:11

Lance seemed to think they had around 300mt left.

[superg1] 02/7/2015 13:03

1MM

Continuing on the reliance of posts ( I've lost track) I thought it was also said that RB are near out of the market as productions ceases.

I imagine they have been finishing off left over heaps which is s factor that can continue for a few months post mining ceasing.

SQM closed El Toco late 2013 but production continued for a few months as they leached out the back log of heaps.

When I say heaps they are very big.

[superg1] 02/7/2015 12:58

Like what joe they were already near past the top end of the forecast before the news re 280.

We know they are going for JR subject to discussions with the Bureau which is obligatory as you can't go for a JV without doing that.

The Greece worst case scenario is bad for all shares short term. All shares across the entire spectrum are and will get caught on margins.

I did note some odd bits last night which will have ended up with forced sells by many in various sectors.

[1madmarky] 02/7/2015 12:25

I can confirm that Lance stated that they have had inquiries from ex RB customers recently. Also someone wanted 200 tons.
I too am surprised that we have not seen any increase in the price of iodine yet. The whole Iodine market seems to be a very strange place where the normal supply demand relationship breaks down to some extent but obviously atm there is sufficient supply however achieved to keep customers happy. GLA

[monts12] 02/7/2015 12:01

200k sold @22.5p this morning...

[joeblogg2] 02/7/2015 11:59

Is there more bad news on the way judging by price action ?

[superg1] 02/7/2015 11:30

Either when SQM decide to put the price up or he inventory bulge is wiped out.

Re prices the India import site which includes mainly Cosaych and RB iodine (chile side) tends to show prices just below the price SQM say it is.

Did someone ask that in the AGM, I thought the answer was they have sales above the price mentioned.

I going on agm attendees and posts by others but wasn't it mentioned RB end users have been making approaches for iodine. Also that supply/sales agreements are pending.

I note the JR deadline ends this weekend and we may get an update next week, q2 production too.

[ridicule] 02/7/2015 11:16

I am beginning to wonder SG1 just when the issues in Chile will start to affect the iodine price? If things are as dire as you assess, surely there should have been some upward movement by now! The other thing that eludes is me is why IOF do not publish the current iodine market price, at the end of each month, on their website? They must be continually negotiating a spot price to run the business!

The lack of iodine current price visibility is one of the things that make IOF unattractive as an investment.

You say you are long term and do not care about the current price. I am also long term but I have tens of thousands locked in here as negative equity (dead money). That is not a good place for an investor looking for dynamic growth by making their money work for them to be. The IOF Board need to place a higher priority in keeping the share price with some level of dynamic momentum. This is now almost a zombie share in terms of performance.

[superg1] 02/7/2015 10:58

Kaos

I like the last line in particular, hence I'm calm, not geared, not uncovered etc etc. Hence I look forward to the future of a sector that seems could see large moves in price to the up side.

Regardless of that if IOF can keep things ticking over then that's fine by me as I'm long term.

My one wish would be for just the execution of one more plant (io1 move) to one of the claimed high production prospects. It's just a bit more insurance but then I think of the outlay for chemicals and potential to be sat on an excessive inventory at a time when the industry demand cools in Q4. Best under the current circs to build such a plant to fit a supply agreement.

If any of the Chile issues hit the supply market then that imo should lift the cautious approach by IOF.

[kaos3] 02/7/2015 10:46

+ It is not Co that performs. It is BOD. I am OK with the present one.
+ momentum, action.. It is about cash and survival atm. going into un charted waters. I am OK again.
+ research means nothing these days on AIM. Superb (too much) research will not make you any profits but it will calm your nerves if you hold.

[aja5] 02/7/2015 10:30

Why do you bother SG?

[arlington chetwynd talbot] 02/7/2015 02:46

Roger,

I see so many poor investment cases being ramped to high heaven before reality bites with the all too inevitable consequences for readers. This one certainly ticked all the danger boxes long ago and the more reflective tone of late by most has been most welcome. While Graham certainly deserves criticism for his behaviour and oddly blinkered view, I cannot help thinking that a collective mindset at the time was more responsible than a single, convenient culprit.
This one still has breathing space to grow with the right management and strategy. Mind you, one wonders even if that can be achieved, what the scalability and realistic profit capability will be? My guess is far more moderate than many will want and as such it doesn't look particularly cheap, even at £30m.
Barring a few swing traders I'd expect this to attract little serious attention until existing issues have been resolved and a clear path to growth identified. The market is still giving this a reasonable value despite the disappointments and has not thrown the towel in just yet.