Iofina Share Discussion Threads

[cordone] 03/6/2014 07:42

Excellent work and update from Lance & the team. How refreshing it is to be able to open up an RNS without the previous fear.

[bryproj] 03/6/2014 07:38

Its a little annoying that there is such a price hike prior to the rns which strongly suggests to me that there are insiders buying into IOF. It was the same on the way down.

[supreme mo] 03/6/2014 07:37

Still here folks and v pleased with this update. Great news.... consistency is key though... best get my calculator out again :-)GL all

[superg1] 03/6/2014 07:36

ors

Near record sales with iodine prices near around 35% lower means they are seeing increased demand.

[cyberbub] 03/6/2014 07:36

Amazing. I think we might have a good chance of heading back to the 100p level on that news, if all goes to plan over the coming weeks...Particularly encouraging for me was to see that plants were still producing very good output even at sites allegedly affected by brine shortages.

[captain_kurt] 03/6/2014 07:35

Expecting new revised broker notes this week on the back of today's excellent news

[dcgray21] 03/6/2014 07:35

Orslega - spot on

[superg1] 03/6/2014 07:33

It seems io3 is still facing frack disruptions, with io4 looking like it was offline at some point re 'debris'.

io5 and 6 one month off.

If they hit the same rate gets hit for June (suggestions IO4 should do well this month). Then that leaves roughly this monthly rate to be hit in H2, with 2 more plants added and unknowns re another potential plant or pods.

[jointer13] 03/6/2014 07:33

it certainly looks like sleeves have been rolled up here.

[orslega] 03/6/2014 07:32

....so no good having record production without end buyers....."The Company had near record sales for the month which demonstrates good demand for our products"

Mr Market will like this.

[jointer13] 03/6/2014 07:30

well done lance and the team.

this bodes very well for the future...I reckon we will be on the radar of some.

[hurricane.] 03/6/2014 07:29

Expecting the share price to retest 75p before the AGM presentations.
Excellent recovery play

[tomboyb] 03/6/2014 07:27

Very good production figures - beating expectations in this market a great start -

[orslega] 03/6/2014 07:26

"......could result in savings of circa $4,000 a day through IO#1-IO#6 when combined"

so potential annual opex saving of $1.4m.....plus more as new plants come on line...reducing opex further making Iofina an even lower cost producer : )

[che7win] 03/6/2014 07:24

Im gobsmacked, the internal rate they were targeting to meet 400mt was 34.8 mt for May.Excellent.

[superg1] 03/6/2014 07:23

Top work Mr Baller.

That was with both io3 and 4 stuttering and no io5 6, with a near 500mt per year rate.

It looks as if io4 will have a good run in June with possibly io5 and 6 joining in during July.

That chemical comment is good, lets hope it works.

On the details given and using their low end 700mt rate it gives a cost saving of $2 per kg. All part of getting costs down and it looks like a 'new find' in addition to other cost-cutting measures

[1madmarky] 03/6/2014 07:21

Brilliant, must admit to some trepidation when I opened the rns. Does explain the price rises and the lack of heckling from certain paid derampers.

[naphar] 03/6/2014 07:17

Nearly choked when I read 40.5mt. Very encouraging, I would have been pleased with 35mt. Nice update again from Lance and the new management.

[captain_kurt] 03/6/2014 07:06

Music to our ears and more improvements to come.

Great job Iofina!

[testuser123] 03/6/2014 07:06

Hey hey that's a bit more like it. My money was on circa 36 mt so iof has, for the first time ever, actually beaten my expectations. Well done lance and team.

EDIT: gad - any ideas on the chemical they're eliminating? They only mention it in passing but that could be a BFD.

[orslega] 03/6/2014 07:02

nice, very nice!


3 June 2014

Iofina plc

("Iofina" or the "Company")

(LSE AIM: IOF)

Iodine Production Update

Iofina, specialists in the exploration and production of iodine and iodine specialty chemical derivatives, are pleased to update the market today on continued progress and production during the month of May (or "the Period").

The Company produced 40.5 metric tons (mt) of crystallised iodine at Iofina Resources in the Period, compared with 21.8 mt in April, an increase of 86% month on month. This improved production rate exceeds the Company's production target for the month. The Company was also profitable for the Period in terms of both EBITDA and net profit, following the implementation of operational efficiencies and cost controls put in place after the recent board and management changes.

IO#1 Production Plant

IO#1 had record monthly production, with the plant continuing to run at record capacity, with little to no downtime. IO#1 continues to make cost-improvements with chemicals and supplies. Early this month, IO#1 will be subjected to a test that could potentially eliminate a certain chemical, resulting in additional savings. If successfully tested, the elimination of this chemical could result in savings of circa $4,000 a day through IO#1-IO#6 when combined.

IO#2 Production Plant

IO#2 achieved record monthly production, with the Company still seeing more optimisation potential in the coming months. Controllable run-time at the plant was excellent and should remain so with recent site upgrades which can fully bypass the Operators salt water disposal (SWD) tanks when they are down for maintenance or experience high-tank levels and go directly to the the SWD injection well. IO#2 received the greatest benefits from recent cost controls throughout the supply chain in the period.

IO#3 Production Plant

IO#3 had another record monthly production rate, despite its limited brine due to the producer's fracking schedule.IO#3's plant performance and run-time, excluding lower brine flows, is as expected. Also as expected, June appears to be an intensive month for fracking near the IO#3 plant. Iofina will continue to monitor and adjust costs and labor accordingly during these events.

IO#4 Production Plant

IO#4 had a record month but did not meet the Company's targets. Minor issues were addressed and performance is on track to meet June 2014 production. The issues were a result of debris still being contained within the system which needed to be removed and cleaned. We see consistent brine capacity at the site even during fracking which is encouraging. The Company is moving forward on improvements to allow greater volumes of brine to IO#4 which currently is maximized at 20,000 barrels per day.

IO#5 Production Plant

IO#5 remained idle as the plant awaits connection to the power grid. Hard power is expected in the next 30 days. Once wired into the power grid, production at IO#5 will restart.

IO#6 Production Plant

IO#6 construction continues to progress with completion expected near month end. The improvements being made to IO#4 are being reflected in the design of IO#6 to ensure maximum brine supply. The commissioning time line is expected to be unchanged and, as previously guided, IO#6 is expected to be operational around the end of Q2.

The Company's focus to reduce supply chain operational expenditure through all areas of operation is being reflected in considerable savings on a daily basis. While these reductions have been significant, work is still ongoing to fully realise a smooth supply chain management resulting in lower production cash cost. The Company's May production cost remains favorable amongst iodine producers.

Commenting on today's announcement, Lance Baller, Non-executive Chairman and Co-founder stated: "We are very pleased to have exceeded this month's targeted production, with an 86 per cent increase over last months' production. The dedication and focus of Iofina's employees continues to demonstrate the quality of the Company's strong assets and technology. We still have much to accomplish in the coming months but already are starting to make progress. We have started a rotating preventative maintenance program for all IOSorb(R) plants and cost-controls for capital projects, chemicals, labour, supplies, and utilities through means of a new Purchase Order system. We are looking forward to continued operational improvement and the addition of production from IO#5 and IO#6 in coming months."

"The iodine market continues to be challenging, but the Company is pleased to be at low level inventory levels compared to other iodine producers. The Company had near record sales for the month which demonstrates good demand for our products. The Company will continue to manage this process as IO#5 and IO#6 production come online in coming months."

For further information, please contact:

Jeff Ploen, Interim CEO and President

[superg1] 03/6/2014 06:12

Bogg1e

It's not showing in the water court list.


Oil

Interest returning west of IOF



The heath formation which they say runs all the way to north Dakota. Meetings and conferences in Denver over it.

Surely if these companies are chasing other oil in the Montana area then at some point the IOF land alarm bell will ring.

[bogg1e] 02/6/2014 23:24

We may have the water hearing tomorrow.

[superg1] 02/6/2014 19:41

Monty

Still waiting for any hint of the impact on Cosayach if any.

The details available seem to suggest it's current, relevant and damaging for them, and good for the iodine market supply balance.

I would just like to see a report somewhere that confirms the suspicions.