Iofina Share Discussion Threads

[beeezzz] 17/6/2024 21:49

That's assuming they don't decommission other plants, siting new plants in areas which maximize plant output...would sound obvious..

[chillpill] 17/6/2024 09:40

As it stands CC have production estimates of:
2024 650t
2025 790t
2026 975t

So 1000t pa run rate expected to be reached during 2026- consistent with what Naph is saying.

[naphar] 17/6/2024 07:18

Beeezzz I think IO10 and the improvements to IO9 they could be on a run rate of 750-800mt.
So they would need to have IO11&12 in place to be in a run rate of 1000mt. Or IO11 would need to be a “mega” plant, and that may then get them there. I think it’s a 2026-2027 goal, so no, it “soon” in most people’s definition of the term.

[beeezzz] 16/6/2024 21:21

Thanks naphar....

Just trying to get enthusiastic...for a 1000mt pa...not anytime soon...

[naphar] 16/6/2024 17:48

Beeezzz they never quote figures for each plant really.
2,4,6,7,8 will have different amounts of brine being delivered with differing ppm’s. And some if not all of those are in areas where there is not much rig activity, so they are ticking over on a steady consistent basis. At least some used to have submersible pumps, which delivered the oil quicker than the current system. When they changed brine volumes reduced and therefore well longevity, also IO plant longevity, increased.

3 & 5 were partially used in later plants, thinks like towers etc. pipework, ducting, cabling and things like that apparently could not really be re-used. Savings were not as great as we might have expected.

[beeezzz] 16/6/2024 15:38

If I remember right, company would achieve 1000mt pa. which is why I would like production figures for each plant and why some are doing better than others.

I imagine decommissioned plants have be cannibalized and parts incorporated in new plants, save money and time...

[naphar] 16/6/2024 15:00

I think IO10 is likely to be later in Q3 than earlier as well. Late August if we are lucky.

[chillpill] 16/6/2024 08:17

Thanks Bocker. If they can sign up IO#11 in next 2/3 months that will be a great boost as it then has the chance of being operational by next April.

[bocker01] 15/6/2024 22:29

Well it’s certainly going to be up and running next quarter. I think we’ll hear on IO11 too.

[chillpill] 15/6/2024 21:14

For some reason I’m not expecting it to be complete until late August/September.I think that judgement came from the picture they showed in the recent online presentation.

They did say they would update progress on social media.

[bocker01] 15/6/2024 16:36

I formed the impression that IO10 is close

[chillpill] 15/6/2024 10:36

I’m guessing nothing new on IO#10 and 11 timelines?

[naphar] 14/6/2024 22:33

Beeezzz not entirely sure what you are getting at in your last post.
Yes it seems some of the 5 plants before IO9 must be doing less than 100mt. We don’t ask for plant by plant run rates at the AGM.

What we did talk about was the sustainability of the current plants and it’s felt they could have a decent longevity ahead of them, barring anything unforeseen happening. Ultimately they could use more brines to get volumes up, but there isn’t really new drilling in those areas to make that happen. The oil companies do, however, seem to be reworking wells in various ways and that’s helping to keep oil production going. From memory, the underground pumps they used to use were stopped and now a different process is used, which essentially results in lower oil production rates but longer life of the wells.

On another note, someone asked about operating old disposal wells again. The board are still looking at it but apparently quite a few different aspects have to be right for it to work, the economics are different to the current model and I got the impression it’s more capital intensive for one thing. So it may be something that comes to fruition in a few years, it’s not something just around the corner. It’s been spoken about for so long, it was good to get some more insights and to know it’s a slow burn potential option.

“Mobile” units were not discussed at all this year, unless as part of a side discussion afterwards. Potential high ppm sites were mentioned though, but in passing.

[naphar] 14/6/2024 13:06

Have edited my post from yesterday to add more context when I said nothing to get excited about, as in the discussion, I was comparing to 2012 and the excitement that drive the share price to £2.50… compared to that, I don’t feel excited.

Like many here, I still see the current share price as well under value. It just seem inconceivable that we are basically debt free and valued at such a low level.

As I said yesterday, management have to just keep delivering and eventually the retake will/should come. When we are at an annual run rate of 1000mt, maybe that will be the catalyst. Either way, growth plans are in place, the board are excited about the opportunities ahead of them, just slightly cautious I think in communicating those opportunities at this stage.

The new areas they are looking at look promising though, with the potential for a larger plant somewhere in next couple of years maybe, if things come to fruition.

[naphar] 14/6/2024 12:56

Huh? Including IO9 we have 6 plants operational now, IO10 will make that 7.

IO 1,3,5 were shut down.

IO9 is said to be doing about 110mt run rate currently and plans are in place to move that nearer to 150, but the oil co has to implement the plans to make that happen, it’s down to being able to dispose of the water they run through the IO9 location, SWD upgrade works or something like that are needed

[beeezzz] 14/6/2024 11:28

With only 6 plants in use IO9 makes 7 so IO10 is 8, they say that IO9# will contribute...?

"This growth is attributed largely to the addition of the IO#9 plant, which commenced operations in the latter half of the previous year. Iofina operates six plants that extract iodine from brine water co-produced with oil and gas, with expectations to produce between 275 and 295 metric tonnes of iodine in the first half of the year."

We are looking at under 100t per unit.

[nellyb] 14/6/2024 11:15

chillpill, it is far easier for some on here to type on this thread, then go look management in the eye and tell them what they think of them.

[chillpill] 14/6/2024 10:26

All talk. No trousers!

Lance is highly capable and would definitely vote for him to stay. My only criticism for the board (as an outsider looking in) would be to push for continuing performance and improvement of KPI’s.


I think there are ways the management team could have executed better in the last couple of years.

[pinkpudycat] 14/6/2024 10:24

I voted against but so assume most didn’t bother voting.

[txi] 14/6/2024 09:22

I voted against

[nellyb] 14/6/2024 09:03

Did Pink or any of the anti-Lance Baller investors pitch up or use their vote, I've just read that Lance Baller got over 96% of the vote.... Amazing!

[bocker01] 13/6/2024 20:34

Cool! Hopefully a time for an in person intro and chat will arise! Always like your posts and it would be good to meet!

[naphar] 13/6/2024 20:09

I was also wearing jeans if it makes you feel any better 😀

[bocker01] 13/6/2024 18:19

No Naphar, the guy in the lift with me got off on the 9th. However, for identification purposes, I was sat at on the back row on the right and was the only person wearing jeans! I haven’t attended a lot recently because it’s tended to clash with a trade show that I exhibit at! All the best!