Iofina Share Discussion Threads

[baguette] 19/11/2013 17:06

Jam - I share your frustration. We have been told on several occasions that io4 will be 1 month after io3. On 9th October we were told that io3 construction was being finalised that week and commissioning the week after. Now on 19th December (bearing in mind how critical this phase is for investors) we could reasonably expect to have received an update on the construction of io4 or certainly no later than this week.

On 31/10 we were told io3 was commissioned and ready to accept brine water on customers final approval - no update yet to tell us it is actually producing - has permission been given.

The RNS included comments regarding delay in io6 and mentioned excess brines for io2 - that could be taken as very good news but not unless we know how well io2 is performing. It could be that it is under expectations so another plant is now needed alongside to "help" it out. We just dont know.

So we dont know how io2 is performing - if it is requiring further investment to arrive at original expectations - if io3 is actually producing and if io4 is really 1 month behind io3 and if io5 is honestly likely to get fully constructed this year.

Based on past RNS's where management have been criticised for promises promises I would have expected some solid information by now.

I do not buy the line that they are "under the radar" what a load of tosh.

Surely we all know that when there is good news humans will always rush to blurt it out and when there are things to hide they stay quiet and use obfuscating words and excuses. Not wanting to be too harsh about the management yet as they may be about to issue some helpful updates but frankly the jury has to be out on whether they are capable at the moment of giving us reasons to be more comfortable with our investments.

Those underwater will naturally be hanging on hoping rather than selling as it is the most difficult thing in the World to take the financial hits - surely we are owed some greater comfort at the moment and if it cannot be provided it indicates some concerns regarding the business model and its timings.

I wonder how many believe there will be anything beyond io3 producing this year or that io4 and io5 will be fully constructed if not fully commissioned.Hands up those who believe we will have anything beyond io6 installed by end q1 2014 and again for those who believe there will be a further 6 in 2014 i.e. up to io12

Not many I would wager and probably the same for total iodine output relative to the guesses of several months ago.

The business model looks terrific and is almost proven but to be honest not just yet until we get some true outputs. Come on Directors get the message that honesty and accuracy are the watchwords for good business information.

[che7win] 19/11/2013 16:53

Not into conspiracy theories but looks like a drop today to harvest some shares from the weak holders.

Recovery towards close and a rise tomorrow...

[johncsimpson] 19/11/2013 13:38

Steady jamonit - deep breaths, remember you're British . . . But then again perhaps you're not . . .

[festario] 19/11/2013 13:27

Jam, yes I'm underwater too, it's frustrating but I'm sure we'll be fine.
If I didn't I would sell my shares. But I would would rather buy than sell at this level.

I take that your portfolio does not include FUM or GKP etc?
See, there are worse places to be!

[festario] 19/11/2013 12:46

Me and my big mouth, sent it down 3p!

[festario] 19/11/2013 12:24

Can anyone see what the supply is like at this level?
I have a feeling we are about to zip upwards to the 180's this week.

[iofra] 19/11/2013 12:12

Oooh Mrs!

You can't have one without the other.

[phoenixs] 19/11/2013 11:29

I suspect there is a buyer and a seller coming together.

[the librarian] 19/11/2013 11:18

The one in the millions is a deletion of the sell reported yesterday, not surprised I always thought that the large trades went on behind the scenes: only the person who dealt with the other large one will know whether it was buy/sell?

[petejay] 19/11/2013 11:00

Two large late trades reportedBuys or sells?

[superg1] 19/11/2013 07:34

Engelo

Yes 2 brokers as buy and strong buy, plus wildly undervalued. Everyone is underwater, with the guys at the top of the tree no doubt trying to pump it up, so they can exit.

imo at these iodine prices some Chile mines are in the edge, they can't afford to spend, and increase production it would be counter-productive (as shown by SQM)

Just a matter of time before smaller Chile mines start to close imo.

A few things outstanding include-:

SCM Bullmine $33 mill debt and hope to build a pipeline, they will need the EIA to go well. Suggested as the highest opex outfit, any may well be struggling to make money at these prices.

Cosayach EIA in and suspicions that it won't be approved, due to issues existing already.

That report on poor grade iodine. I believe last time around it was Algorta so it could be them again. Mentioning them, their revenue didn't seem to match their production claims.


That new Government seem to have a plan to tax the miners more heavily, so costs look set to rise over the coming years on that front too.

[engelo] 18/11/2013 23:10

Sirocco 'wildly undervalued' if you read to the end....

[diggulden] 18/11/2013 22:38

SQM results out tomorrow after the close, will make for some more interesting reading.

[superg1] 18/11/2013 22:20

A media comment today



Opponents fear Bachelet, who spent the past two years heading the U.N. agency for women, may be laying the foundations for some more extensive changes in the long-term. Under Chilean law, the state has the right to royalties for the exploitation of natural resources, especially mineral ones, so hey think an increase in mining royalties is highly likely.

On a phone conversation with MINING.com, a high-level mining industry executive speaking on condition of anonymity, said the main issue he sees for miners under the Bachelet administration would be the right to use water resources.

Under the current law, he explained, mining companies have the right to use any water they find while conducting activities. But as the resource becomes more and more scarce, especially in the north of Chile, where most mining takes place, he said many would expect centre-leftist Bachelet to interfere.

[johncsimpson] 18/11/2013 22:11

Re Sirocco:

[pcjoe] 18/11/2013 21:22

Ok SG - Found that on a site called "Before it is news" - An article printed 17th Nov - A bit of a misnomer that site - As you say he resigned a few days back - Looks like they might be in serious bother though

[superg1] 18/11/2013 21:18

Yes one did leave, the one I mentioned the other day (john Craig), one site has it as the CEO but I suspect that is wrong. John is in his 60's so may have retired.

Simon Jackson (president) left earlier this year.

As shown recently they have taken 12 years to get to where they wanted to be in two (on iodine).

The nitrates side, spoken of all those years ago, still isn't off the ground, and unlikely to ever be imo.

[pcjoe] 18/11/2013 21:08

SG - Monty - Check link on my last post - Boardroom resignation - Or is this old news?

[monty panesar] 18/11/2013 21:06

Sg,No idea

[spike_1] 18/11/2013 20:38

What planet are they on (recommending sirroco) ? This is probably the best example yet of what it means for IOF to be ......

'under the radar'

And yes we are!

What better time to buy IOF (no advice intended - ho hum)

Best wishes - Mike

[phoenixs] 18/11/2013 20:36

I don't believe that they are from earth.

[superg1] 18/11/2013 20:31

Monty

Any idea why?

Good old brokers, one has it as a buy, the other as a strong buy. What planet are they on.

Apparently they had a big jump Friday and now back down.

One guru calls it 'wildly undervalued', I'm glad I do my own research

[pcjoe] 18/11/2013 20:28

Sirroco Share plunge - Just Boardroom troubles? -