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Share Name Share Symbol Market Type Share ISIN Share Description
Iofina LSE:IOF London Ordinary Share GB00B2QL5C79 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  +0.725p +6.71% 11.525p 311,968 16:35:00
Bid Price Offer Price High Price Low Price Open Price
11.10p 11.95p 11.50p 10.85p 11.00p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 20.83 -9.79 -7.60 14.7

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Date Time Title Posts
09/12/201813:22Iofina recovery3,242
08/12/201817:22IOF tipsters2,587
05/12/201821:12Iofina Private Investors Meeting - Cheltenham115
01/6/201711:27Iofina Holdings in Company9,922

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Iofina Daily Update: Iofina is listed in the General Financial sector of the London Stock Exchange with ticker IOF. The last closing price for Iofina was 10.80p.
Iofina has a 4 week average price of 10.40p and a 12 week average price of 10.25p.
The 1 year high share price is 24p while the 1 year low share price is currently 10.25p.
There are currently 127,569,398 shares in issue and the average daily traded volume is 362,320 shares. The market capitalisation of Iofina is £14,702,373.12.
zendo102: With the market the way it is at the moment, even a good set of results isn't going to light a rocket under the share price. If I had money to spend (I don't) I'd be waiting until after an announcement on the debt and future plant builds to get some certainty in the bag. It would mean missing out on some gains, but for those with a bit of patience, I wouldn't be surprised if the share price slipped right back again as the news dries up. IOF has a bit of history in that regard.
johnsdale: I also spent sometime today going back over my notes and the AGM and other information I picked up by speaking to the company about the debt situation in June as the situation has been taken slightly out of context. I’m going to spell it out in layman’s terms as I think there are a huge amount of lurkers here waiting for clarity on the debt and it’s hard to piece the information together, my aim of late has to keep a constructive dialogue on the issue as it’s the one single impediment to this share price hitting high 20’s low 30’s with the iodine price rises and record production figures we saw this week. Stena originally lent the company 15 million and Pancrea a further 5 million dollars over a 2 year period at an interest coupon of 6.5%. This debt was renegotiated to 6% interest and the deal at the time allowed for the debt to be converted into shares at 18p -25p and 32p respectively. The debt also allowed for a 10 million overdraft facility for expansion and the debt interest to be rolled up. It’s important to understand the relationship Iofina have with Stena and Pancrea in that they are both shareholders and know the company very well. When this deal was made the share price was 5p, had they wanted to take the company over at that stage they could have done so with little resistence by simply calling in the debt or placing the convertibles at the current share price allowing monumental amounts of dilution, but they elected not too. I only state this point as if they didn’t then and all Iofina’s Comments relate to them not wanting to run the plants why would they change there mind now. All the comments from the company In June indicate Stena want to gradually reduce there debt exposure here down by 50%. Information from the company was they are happy to keep the 18p convertables in play. Realistically this is why they were happy to sell above 18-20p but also why I didn’t believe (still don’t) that they were selling below this point. Also Banks (Pancrea) snapped up shares to the value of what Stena offloaded. Always hard to know what his motivation is here as he no longer comments, However again if there was a motivation to pull the debt in it makes zero sense for Banks raise his stake in Iofina as it’s literally money he doesn’t have to spend. So far they have drawn down 3 million from the overdraft which produced IO7 and as the news shows this week an incredibly profitable plant. So the debt in focus is circa 18 million as Stenas full proportion, the comments remain this is a gradual reduction down to 50% but even assuming they want half back next June it would look as follows: They effectively would like 9 million back at this point if we remove the word gradual. Iof’s issue is they are so close to being in a position to clear the entire debt over a 2 year term, but they have to borrow more to do so, however vindicated by the price rises and record production figures this week. I could go into why I think it’s actually financially easy to do and the comments around new debt being negotiated at 7% coupons, but that is more subjective and I’ve tried to keep this post aligned with the facts as told to us by the company to date. I’ve done this as I’ve found this management team to be highly honest and reliable which combined with my own research is why I’ve taken such a large position here. I originally invested at 60p and averaged down slightly but my breakeven remains around 13-14p mostly because I did simailar research prior to the last debt Deal and took a large position then. I think Hernando makes some great points as to why he feels this could have a negative outcome and I’ve always said without opposing views a board is worthless, sorry for my long post and I hope people will correct any errors in the above, the aim is to spread knowledge and understanding, and show why myself and people like Squire believe this will comfortably get back to the 30’s and ideally low 40’s On a 1-2 year investment view. Enjoy what remains of your weekend
luckyorange: (a) unless previously converted into ordinary shares of GBP0.01 each in the capital of the Company ("Ordinary Shares") or redeemed, the Notes are redeemable at par together with capitalised, accrued and unpaid interest on 1 June 2019; (b) the Company is entitled to redeem any of the Notes at any time prior to 1 June 2019 without penalty; (c) any or all of the Notes outstanding may be converted into Ordinary Shares by the Noteholders at any time subject to prior written notice to the Company of 28 days or such shorter period as may be agreed by the Company; (d) the conversion rates to be used for the conversion of the Notes into Ordinary Shares are, as regards the total amount of the Notes outstanding, one third at 18p per share, one third at 25p per share, and one third at 32p per share; (e) the Company may require that any or all of the Notes outstanding be converted into Ordinary Shares following the publicly quoted closing price per Ordinary Share being 50p or more for at least five consecutive trading days; (f) interest is payable quarterly in arrears at the rate of 5% per annum. The Company may at its sole discretion elect to roll-up quarterly interest payments without limit, in which case the interest rolled-up will be capitalised and form part of the principal balance of the Notes; (g) the Noteholders may resolve to accept payment of any capitalised or accrued interest by the issuance of Ordinary Shares, using a conversion rate of 32p per share; (h) unless the prior consent of the Company has been obtained, the Noteholders are not entitled to sell or transfer the Notes except to certain related parties; and (i) no conversion shall be permitted in the event that, upon such conversion, it would have the effect of establishing or otherwise increasing a holding in Ordinary Shares of a Noteholder (whether by itself or in conjunction with the holdings of any "concert parties" (as defined in The City Code on Takeovers and Mergers (the "Code))) which could potentially trigger a mandatory offer having to be made for other Ordinary Shares under Rules 9 and 37 of the Code. A conversion may be so permitted if the Company and the relevant Noteholder agree to it in writing but subject at all times to the receipt of any prior written approval which may be required from The Panel on Takeovers and Mergers. The Notes are secured against the assets of the Group, by a share pledge and a debenture granted by the Company, and by further pledges, security agreement and guarantees granted by certain subsidiaries of the Company. On 29 September 2016 the Company entered into an agreement for a Term Loan Facility of up to US$10,000,000 (the "Facility") with Stena. The principal terms and conditions attaching to the Facility are as follows: (a) the Facility is to be utilised for capital expenditure and working capital purposes in connection with (i) the Company's iodine and iodine derivatives production, refinement, marketing and sales activities; (ii) water depot project; and (iii) iodine and natural gas operations, as carried out at the Company's sites in the United States of America; (b) the Company may draw down up to US$3,000,000 of the Facility on request and in tranches of not less than US$250,000 or such other amount as may be agreed; (c) drawdowns of amounts of the Facility in excess of US$3,000,000 are dependent upon completion of a detailed due diligence exercise and satisfaction with the results by Stena regarding the prevailing state of affairs relating to the Group and its assets; (d) interest is payable quarterly in arrears at the rate of 6% per annum. The Company may elect to capitalise the interest, in which case the interest will be rolled-up and treated as principal outstanding and repaid on 1 June 2019; (e) all amounts outstanding under the Facility are repayable in full on 1 June 2019; (f) the Company may repay any amounts outstanding under the Facility at any time without penalty. The Company may reborrow amounts previously repaid subject to the consent of Stena; (g) for so long as amounts are outstanding under the Facility the Company is not to make any payments to shareholders or other debt providers, including principal amounts outstanding under the Notes, without Stena's prior consent; and (h) without the prior consent of Stena, the Group is not to take on further borrowings, except for debt at an interest rate lower than the Facility rate that is used to repay amounts outstanding under the Facility. The Facility is secured against the assets of the Group under the same arrangements as set out above in relation to the Notes. Conversion premiums to current share price: The premiums over the closing price per Ordinary Share of 13.75p on 29 September 2016 represented by the conversion rates applicable to the Notes are as follows: -- Stena o US$5 million at a conversion price of 18p, which represents a premium of 31% to the closing price of 13.75p on 29 September 2016; o US$5 million at a conversion price of 25p, which represents a 82% premium to the closing price of 13.75p on 29 September 2016; and o US$5 million plus any capitalised or accrued interest at a conversion price of 32p, which represents a 133% premium to the closing price of 13.75p on 29 September 2016 -- Panacea o US$1.67 million at a conversion price of 18p, which represents a premium of 31% to the closing price of 13.75p on 29 September 2016; o US$1.67 million at a conversion price of 25p, which represents a 82% premium to the closing price of 13.75p on 29September 2016; and o US$1.67 million plus any capitalised or accrued interest at a conversion price of 32p, which represents a 133% premium to the closing price of 13.75p on 29 September 2016
maca1212: Zendo, When you talk about last years losses are you referring to 2016 or do you have a crystal ball into the as yet unnannounced 2017 results? in 2016 they reported a loss of $3.7 million, but this was of course after 'revaluation' of the bond debt down by $2.1 million - so I make the 'real' losses in 2016 $5.8 million. In 2015 they produced 561.9 metric tonnes of crystallised iodine in 2016 474.2 tonnes and in 2017 they have produced 503 tonnes. Although according to IoF prices recovered later on in 2017, according to the USGS here: hTTps:// The average price seen in 2017 was circa 10% lower than 2016. The rather unfortunate thing in some ways for IoF is that the Black - Scholes bond/share price revaluation is now going to run the other way in 2017's accounts, and while they made remarkably little effort to point out the artificial positive impact of this revaluation in the 2016 accounts, you can bet your bottom dollar that they will be trumpeting its 'wholly technical' impact in 2017's. I await the 2017 report with interest, like you I believe that IoF still has a way to go before it can really demonstrate that they have turned the corner, and the continued forebearance of the bond holders will be a key part in that. 2017 is likely to be a dire kitchen sink kind of year for the company, it remains to be seen whether the share price can evade the financial realities that are likely to be revealed in the report. Profitability here depends upon a significant uplift in the iodine price (I suspect to $32-34+) - the company has done a good job of extracting profit from lampricide, but that on its own is insufficient. To say that the company is not a commodity geared stock is patently ludicrous. DYOR M
severnof9: I thought I would look back at some previous newswire reports on Iofina in 2013 the Co were commissioning IOF 3 I have extracted this from the report Iofina’s broker said 2013 had been a “proof of concept year” for the group, adding: “Iodine production should ramp up strongly in 2014.” It repeated its ‘buy’ advice and 230p a share price target, which gives significant headroom for growth. The stock, up 144% in the past year, is currently changing hands for 172p, for a rise of 2.5% on the day. However, Investec conceded its assumptions are more conservative than Iofina’s current plans, and it underlined just how value generative the roll out of these plants is. It states that for a capital cost of US$2-3mln around US$20mln of value is added at an iodine price of US$20mln I think the final line should read iodine price of $20. [...] Is the recent increase in the share price due to the near completion of IO7 given that on a conservative assumption a completed plant adds $20 Million to the value of the Co even when the Iodine price was at $20? Will we ever see a £2.30 share price target again?
superg1: On the dilution side you have $20 mill at 25p per share average re the loan notes. Current exchange rate 1.3 it adds about 60 mill shares making it around 180 mill in issue. The debt not yet drawn down in full 6% interest pa. Notes payable by June 2019. I see IOF can demand conversion of the notes if the share price goes over 50p for 5 consecutive days. "e) the Company may require that any or all of the Notes outstanding be converted into Ordinary Shares following the publicly quoted closing price per Ordinary Share being 50p or more for at least five consecutive trading days;" Using a PE of 15 if they were in profit then it equates to .83p per mill profit. So £5 mill profit would mean around a 40p share price then add in the growth factor if that was in play. All things being equal then each $1 rise in the iodine price adds about 6p. That assumes io7 and 8 in play with around 800mt plus per year. In short if the iodine price does well then the IOF share price is going to take off.
rogerbridge: We have to remember that there is an election in two days time and many have taken money off the table, since the Labour Party apperering to be neck and neck with the Conservatives. Some weeks ago, it looked a stroll for May, now investors are not sure. I think May will win, and there will be some re-investing, otherwise, the market is probably in for a drop. One thing is sure, as the iodine price increases, so will the IOF share price.
jonnybig: Half a pence half a pence half a pence downward Into the valley of death Fell the IOF share price LOL!!! JonnyB:)
rogerbridge: The oil price is down at the moment, interestingly, around February time a chartist who is usually quite accurate forecast that crude would be $46 in July, down to £38.43 in July and back up to $60 in November. Who knows, but traders can not make money unless the crude price goes up or down, there is no money to be made if the price is flat. The result is that we get volitility with all of the money slopping about in the markets, due to Q.E. Money has to go somewhere and eventually it will go back into crude, the question is when. It's a pity about the IOF share price but the board have never been ones to release rns's and talk things up.
johnsdale: There are still bulls left but there is and has been nothing to rally around for a long time. I set aside a large sum to buy back into IOF from around the 7p mark, however as I've watched it capitulate and fall without any care from the board or putting a penny of their own money in I'm really not so sure now. I bought my first chunk of IOF shares just after Biggys investment at around 50p so nowhere near as high as some who are left here. Foolishly I took chunks at 10p intervals as this went down, believing like many here that the underlying principals were good. Like Rheumking said an iodine price war and earthquakes are beyond there control and no one can blame them for that. However the bond issuance compared to a funding was their fault and that could have been corrected as the share price fell. When biggy got involved we had monthly updates on production which gradual release of other news, which helped reassure investors each month. That was stopped once all the plants came on line (from memory I think the share price was about 65p at that point). Since then I haven't really seen any care or time from the company or any effort to preserve shareholder value. It's alarmed me and against my better nature I ignored it. Not getting the water decision was a big blow and the fundamentals of the company have been pulled into question ever since. However like Beez says they could have done a funding at any point all the way down but now they have probably left it too late if that's what's needed to survive. I have a lot of decision making too do over the weekend about whether I continue to support the price or whether I get out at any costs on Monday into next week. My holding is about a million shares, I'm in a position to double or treble that holding if I believed that IOF were capable of turning the corner and I suspect many here have the same or decisions to make. However if there is no statement on Monday/Tuesday I think my decision may have been made for me. The bod at that point simply has no regard for shareholders or the value so why should I waste another penny of my money or my time in that situation. They issued a release after we dropped from 22p to 9p stating they were operationally robust after the earthquakes which shored things up for a time. However they dropped the bombshell with the end of year production that they had made a loss despite saying they made a profit before ebita all the way through 2015. The size of the loss? We simply do not know and let's face it if Hekking hadn't of gone we'd still be around the 8p mark right about now, hell even if they found a permenant replacement we wouldn't have dropped below 7p All the uncertainty is of their own making with partial or cryptic releases, the fact is "operationally robust" does not mean they have enough cash to survive however many times we read it. I struggled with the Bears view for a long time as I believed they were way too negative, but I've realised I came to the board late and they had that view after being kicked off the board or shouted down. I've done my own calcs and depending on the value of the contract and the profit margins on the derivatives business it still may not be so bad. The currency fluctuations have improved by around 15% since January and are likely set to continue which should fuel a similar or if not larger boast in the iodine price. The earthquake issue which knocked 15p off the share price has largley abated. Water is still a 50/50 and I remember a time when that alone could add 5-10p to the share price. I've read all the other permits as many others have and to deny IOF would mean that all other permits would be invalid, so it seems easier to change the point of law than eventually revoke all permits or fast track IOF's through with better letters of intent. I remember the oil price crashing putting pressure on the share price, that looks to have stabilised and the Bakken players are still producing against everyone's expectations. The only thing that can sink the company is cash flow and let's face it a simple production report next week won't lift this share. They will notify us whether they are a going concern or not and its as simple as that. If they are not then the bond holders get everything left and if they are the share price will double or triple from here. Phoenix is right in that the selling is made worse by all the buyers sitting on the sidelines. With positive news the share price would jump 50%-100% or more in a day, with bad news Depending in the content I'm not sure any of us would be able to get out in time. If it's a leak like fresh mentions then we will know and be out of our misery by Monday morning. Truth is we help create the bottom, there was a time when a message from biggy could create a bear squeeze and we all unfortunately believed his statements about hoovering up shares at various points all the way down. I will make ready a sizeable share buying chest for Monday morning and beyond, but whether that involves me frantically buying or frantically selling rests on what the company do between now and Tuesday. As much as I still believe in some of the fundamentals (and I've gone against the herd and won many times in life and in business) I'm not prepared to be involved with a company that doesn't care enough, or are not able to issue news on time or support a share price that has collapsed 50% in two months or 80% in 4-5 months, I don't even want to think about the £2-£2.50 days that some of you have witnessed and I'm glad my pain has been relatively short lived. I wish the Bears and the Bulls well on this, I have no emotional attachment to this share anymore and I salute the Bulls for calling it right so far. Forgive the size of the post its my own way of setting out my investment path so far and helps me keep my mind clear for the weekend, I wish you all the same!
Iofina share price data is direct from the London Stock Exchange
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