Iofina Share Discussion Threads

[naphar] 10/6/2014 18:34

Bogg1e
One of SG posts I read said 25th and not 25k or 250k.
Simple typo I think. I noted 600 and 250 making total $850k

HTH

[dcgray21] 10/6/2014 18:32

Bogg1e - hook ups were $250k

[1madmarky] 10/6/2014 18:29

On the subject of selling raw or prilled iodine. Lance made it clear that the supply agreements they have in place only kick in as and when IOF can supply. Thus there are no penalties if IOF can't supply for any reason

[bogg1e] 10/6/2014 18:19

Indeed. thanks all.

Also, SG it was actually Rugrat who has done all the ace work on google earth and locating IO sites, wells etc. It was he who located the two "clean" sites which are similar to IO3, but as he noted at the time, they are identical to but slightly smaller than the larger IO3 site. Now we know its because they are for minis, hence the smaller footprint.

Last question, i have collated the facts presented from the agm, and there is one discrepancy, the power hookups for the minis are stated by SG as $25,000, but elsewhere $250,000 is mentioned. Can anyone clarify this pls? (As $600k is for the parts & build vs the total price of $850k, i assume its the latter). Tia.

[diggulden] 10/6/2014 18:07

Thanks all for the feedback.

[hew] 10/6/2014 17:46

Yet to review my notes as just returned, but although I heard little new, for me there was a great deal of consolidation of details. Pleased that in 2014 "selling both crystal and prilled iodine" to "multiple customers". I also understood that although quantities and numbers are not large at present, there seems to be no issue at all in accessing established sales channels, either currently or for the future. The majority of current production goes to our own derivatives of course.

The focus now throughout the business is on the bottom line; under previous management it was purely the top line.

I was disappointed at the lack of an RNS this morning, but found the AGM very worthwhile and returned with my confidence boosted.

No advice intended of course - my comments are personal impressions.

[hew] 10/6/2014 17:36

Apart from what said, very pleased that it was "The Lance Show". I was surprised that he alone spoke throughout and handled everything: Intro, Presentation, Formal session, and a lengthy question session that ran basically until all questions dried up. Also he was active in group chats (then with Jeff and Dr. Bellamy also) for at least 30 minutes afterwards. L showed no trace of tiredness or flagging. I wonder what role he will play in the investor meetings over the next few days - 15 of them according to Jeff.

EDIT also understood that the monthly reports will continue until production is stabilised - not certain re that though if others heard differently.

[superg1] 10/6/2014 17:27

Monthly updates??

3 puzzled faces re that one. They will stop when things are stabilised.

Sat with CK, testuser and naphar we agree re the above so we expect june/July updates.

[naphar] 10/6/2014 17:11

"Will not be providing monthly production updates as it destabilises the share price - will update market as and when key production streams come on board"

My notes say what Lance said was, they said regular updates and have not said monthly updates , but will keep going with regular updates until things have stabilised. Why? Because the market needs updates to ensure expectations are in right ball park, but should not be necessary after some months of stabilised production.

[rugrat2] 10/6/2014 17:09

Sg - Boog1e's post re 2 sites and GoogleEarth was referring to my posts 21194 and 21212. The sites that I found with MidStates were a definite full size plant site at the Lohmann swd and a probable full size plant site at the Zahorsky swd, albeit on a slightly smaller pad than usual. My punt at a mini site would be Triad Energy's swd NE of IO#2.

[monts12] 10/6/2014 17:08

Fresh
Lance stated that monthly production figures were a double-edged sword creating unwanted volatility and speculation. Only "regular" updates are promised in order to reassure the market that they're getting a grip until production and operations stablise.

[superg1] 10/6/2014 17:04

Cross

Auto chem feed etc. Tests ongoing with removal of some chem processes.

Oil leases will work on those been ignored for now but will keep them 60k acres one block, others dotted around.

[freshvoicem] 10/6/2014 17:03

Disappointed to hear monthly updates to be stopped. Will bring the derampers back that!

Should keep it going at least until brine issues sorted and monthly rate shows annual target can be hit.

[naphar] 10/6/2014 17:02

My notes were 30 days to manufacture and 30 days to commission total 60 days

[montyville2] 10/6/2014 16:56

My notes were:

IO6 will be connected to power supply in 30 days

Criticised previous management on the build costs for IO3 and IO6

Currently a profitable business

Anticipates production increases of 150% per annum next couple of years

Current focus on running the existing plants to optimise production, rather than build new ones

Will not be providing monthly production updates as it destabilises the share price - will update market as and when key production streams come on board

Looking at a number of opportunities to site mobile rigs - two pads already in place pending decision on mobile units

Mobile units - will be manuafcatured locally, agreement in place, take 60 days to manufacture, and another 30 days to commission. Cost $600k to manufacture each unit and $250k to commission. Each unit would process approx 10,000 barrels per day, and would be scaled to output of well eg 2 units for 20,000 barrels

[superg1] 10/6/2014 16:55

Mobiles ppm range 200 to 1000ppm. 5k bpd max each, double, treble up etc dependent on bpb at site. Both Jeff and Lance v positive about recent sites and leases sorted in recent times.

Edit

10k per day each, sorry it's the ale.

[crosseyed] 10/6/2014 16:53

Is there any indication of how these mini IOsorb units will operate with no staff? Maintenance? Transfer of product to a main plant for crystallisation? Presumably they would require use of chemicals that need to be fed in.

Thanks,
c

[1madmarky] 10/6/2014 16:29

Another bit about the mobile units.... They will have lower Opex than the plants and will be on higher ppms. So will have a faster return on investment.

Good meal afterwards as, never eaten fried little fishes before, crunchy and tasty

[naphar] 10/6/2014 16:28

Well if that rumour is indeed true SG, I would anticipate mobiles going in sooner rather than later

[madchick] 10/6/2014 16:26

naphar - thanks for the reply. I can see the logic, although I suspect there will be teething problems, so would really like to see them testing them out, but I'm sure Lance knows what he's doing! Maybe the Japanese customer will hurry things along :-)

[gadolinium] 10/6/2014 16:26

Thanks all for the feedback, would have liked to have been there.
Particularly please about the prilling news. It illustrates the pragmatic and imaginative approach being taken by the new BOD.

[superg1] 10/6/2014 16:13

Well there is a rumour about an iodine buyer, churning over that one now, Japanese.

[cyberbub] 10/6/2014 16:13

Remember to hit 100p as a growth company on a p/e of 15-20 say, we 'only' need to make about GBP7-8M in net earnings. Given the excellent progress, that 'run rate' should be achievable in the next 6 months IMO.....that ignores water, or the outright value of our IP etc...

[naphar] 10/6/2014 16:09

Madchick
Mobiles could take 2 months if they order today or take months. Will start putting in place when it make sense to do so. Don't want to start stock piling iodine as pointless and want to stabilise things before focussing on additional plants.

[woodpeckers] 10/6/2014 16:07

Yes, excellent progress being made by the sound of it, thanks all for the feedback.