Iofina Share Discussion Threads

[micknickbanny] 19/9/2014 15:50

I believe that io5 was initially performing better than io6 but was on limited brine supply at that time due to fracking. when the volumes began to increase its efficiencies began to dip. It was then discoveredthat some design elements introduced and implemented by the previous management ( and unbeknown to current management) were found wanting. seems previous management tried to improve the design without thoroughly checking it first prior to implementation. a matter which I think is/has been resolved. NAI

[alphacharlie] 19/9/2014 15:07

Well in that reply you have it SG; far too much taken for granted.

What makes you think I'm a man?

[superg1] 19/9/2014 14:20

alpha

Note the tense atmosphere and p'd off woman in a confined space.... your a brave man.

[alphacharlie] 19/9/2014 13:38

A calm voice said....

'Try starting the engine first'


. . . . where as it should have said, 'You got a driving licence and are you sure you know what you're doing?'

[superg1] 19/9/2014 12:58

I know Royal mail can be a right pain in the backside at times, have you tried special delivery, it travels via a different system?

[superg1] 19/9/2014 12:48

Fresh

Not really, if you think it's exactly like other plants, but some twit tinkered with it without your knowledge, then it was a fair comment under the circs, as they believed them to be.

A known knowns judgment, where the unknown kicked in.

You know how far your car goes roughly on a tank of fuel, but if someone put a hole in petrol tank, it's not going to achieve the mileage you think. Without knowing about the hole you can't be expected to forecast the reduced mileage. It wouldn't be a normal risk strategy to carry a spare petrol tank either.

I recall a colleague cursing the damn automatic car she was driving (hates automatic cars). The cursing was loud and strong and she set it into drive and pressed the accelerator while releasing the handbrake. The damn thing wouldn't move.

A calm voice said....

'Try starting the engine first'

[freshvoice] 19/9/2014 12:18

Super
The point I would make is the first RNS should not have said 'the plant is running very well'. Should have said
We have restarted IO5 and hope it will settle in/ work well/ perform as expected.

[arlington chetwynd talbot] 19/9/2014 10:58

Oh dear, yet another disastrous update yesterday! You may all be astonished... I'm not. Death by a thousand cuts? Not quite.

One more funding then that's it. The clock is ticking... down.

[che7win] 19/9/2014 10:32

fresh,
you don't have to believe anything I say, but I believe 100% that what was published in the RNS's was written in good faith.

They are working through legacy teething issues, but issues that are being resolved.

Some of the changes such as around IO2 are normal issues that need to be worked through.
The end result should be much better for us, but short-term pain.

You have to remember that IOF is a small company with limited resources, they don't have manpower to cover every single eventuality before start up of plants in anger.

As Mr Big says, they feel every bump in the road but experience is great gain.

I am confident we will see better days and I know management are 100% aligned to shareholders here, they are as disappointed as you or I.

The market is seeing through the short term issues, in a short while we should hear about growth prospects. They will make the best of plants 3-6, future plants will shine IMHO.

[freshvoice] 19/9/2014 09:18

24680
Asks a very good question

WHICH RNS WAS NOT THE TRUTH,

Can't both be correct

[mister big] 19/9/2014 09:17

I think one of the problems here is that the rush for growth led to some very bad decisions , as these are unwound problems and issues arise. I own several mining operations and it takes time to get in the groove . Small companies like iofina feel every bump in the road which is why I'm against monthly updates . You will by definition have good and bad months .
I think projections have been reset to make sure they achieve them and then over perform .

[kattatogaru] 19/9/2014 09:11

By my back-of the envelope calculations we would hit about the mid-point of the new forecast range if we have a linear increase in production from 27 T in September to 44 T in December. I don't really expect us to hit 35MT in October (since there seem to be numerous engineering ans supply issues to sort out, but ff October production is well below 33MT, we're in trouble.

[beercapafn] 19/9/2014 09:02

superg1
We Pi's could club together and put a guy to sit outside the gates and count to sacks /drums into to compound. (:-)

But that would not address the actual production. (:-(

[superg1] 19/9/2014 08:53

mrb

I get the answers form other 'folk' because they know I will bite my tongue, but try to convey the general feelings.

Contrary to conspiracy theories, no one I know has the slightest clue what the production update would be.

If I lived in OK I would have known the likely outcome, as would all of us.

[superg1] 19/9/2014 08:50

Oh there is a simple test for numpties you can use.

Question

How do you confuse a numpty?


Answer

Wheelbarrow

[mrbeavers] 19/9/2014 08:45

Fair play for replying sg and thanks for letting us know

[rogerbridge] 19/9/2014 08:32

We are producing a reasonable amount and it sounds from the latest information that IOF are moving forward with a few bumps along the way. If I was not in so deep, I would buy some more, very tempting at this price level.
I believe with fingers in other pies IOF will deliver over the coming 12 months.

[superg1] 19/9/2014 08:29

1MM

While dealing with quite a large 'challenge' some time ago I delegated a particular task. It was just a much larger version of a simple task.

A wise old owl warned me that I would need to keep an eye on absolutely everything. I simply couldn't be literally in 7 different places at one, but managed 6 thinking nothing could go wrong with the simple number 7 task.

That task that took hours, was done in such a horrendous mess beyond the guidelines, that it took me over week to put right.

People always say it's far less timing consuming doing it right, compared to having to put things right.

CF was always critical that Lance always tried to do everything, and stick his nose into everything, 'wearing too many hats'.

Well imo that is exactly the type of person you need in charge of any company.

You guys know your life experience and have banged your heads against walls many times repeatedly over the same old numpty mistakes.

I put much of it down to the soft touch of discipline and pride that has declined so much over the last few decades.

The older folks here that know those days, and imo were far more diligent and conscientious about their work. The consequences of not being that way were clear, job, or no job.

As if to prove a point a two day job, I paid others to do last week, is now taking a week to put right, as they sent a numpty to do the original job.

[1madmarky] 19/9/2014 08:06

Yeah Mr B has very deep pockets, I'm just not prepared to put any more in until we have proof that the business model will deliver in the long term, not just for one month.