Iofina Share Discussion Threads

[baguette] 20/11/2013 16:12

bobby

You are quite right I don't know that but bearing in mind a string of "failings to meet" and no confirmation that the target is still good I doubt it very much.

If You or I were constructing the RNS would we not say something like:-

"despite the delays in fabricating io4 and io5 - management still expect the target of 2013 exit rate of 700-1000 to be attainable"

Why would we NOT say that ? I think you know the answer !!

[iofra] 20/11/2013 16:11

Record Production in October will be based solely on IO1 & 2 hence they are doing something right tweaking the existing plant to get more out of it. Knowledge that is applicable to IO3 and all future plants.

[ijpax] 20/11/2013 16:08

Previous RNS stated "The Board expect to complete construction of IO#3, IO#4, IO#5 and IO#6 by year end. With these plants fully operational, it is estimated that the annualised production rate will be between c.700-c.1000 metric tonnes".
So if the construction is not complete, then the target is no longer valid.

[bobbyshilling] 20/11/2013 16:02

BAG,

At the end of the day, the important figure is the 700-1000mt exit for 2013. How do you know that will not be met? Evidence to me and others suggests that those figures are within the capabilities of IO1-3. Also, the company has not revised those figures downwards in today's rns.

[staverly] 20/11/2013 15:58

superg1:

H1 financial statements show discrepancy between the cash inflow $15m from convertible bond and the $14.3 liability shown on the balance sheet. What happened to the ~$670,000 ?

[noli] 20/11/2013 14:52

Edit click on the pdf

[cpeacock] 20/11/2013 14:51

SG are you in Nano? Good future potential. Which is why we invest isn't it. Why the volume of moans from some about production figures and late rig delivery? The RNS was a good update in my books. OK, they are going to be a little late with IO4 and 5 but engineering projects rarely deliver on time, particularly when they are still fluid in design. Like all repeat processes this will get leaner and slicker with each new tower. It's not as if the company is haemorrhaging a mass of money meanwhile. Looking back IOF have performed extremely well in the past 18mths. Lots of positive news and going forward lots more to come. Perhaps if people are that impatient for a return they might consider the post office savings. You can even get updates every day.

[superg1] 20/11/2013 14:45

ob

Tact, no pleasure in some buying high etc, hopefully it will bounce for them, but delivery way off yet.

It does demonstrate that much of the IOF slippage is priced in by the market.

As on the end of the Investec note, water is not valued as yet. If the mail man can get through the convoys of FRP tanks littering roads in Montana and the rest of the US, then it shouldn't be too far off.

[rogerbridge] 20/11/2013 14:24

I have been mulling things over since posting first thing today.I am still positive on the future. IO3 is a highly automated plant,the first for IOF. There appears to be a learning curve with the programming of software and tuning production.IOF should have gained experience from this so future automated plants should be easier to roll out

[obbig60] 20/11/2013 14:15

No need to be coy about it SG. You mean PLE don't you?

[phoenix1234] 20/11/2013 14:09

Buy tip

www.shareprophets.advfn.com/views/2754/iofina-at-163p-looking-for-a-200-day-moving-average-break-at-176p

[superg1] 20/11/2013 14:00

Smile folks

One share had it's news bang on yesterday just as the punters wanted it. It went up, got hit, and is now 40% plus down from where some bought at the top.

Nano has taken a dive in recent times with no change at all. It's a strange old market. Both the above are closer to delivery, with no trips yet.

[bobbyshilling] 20/11/2013 13:47

From today's rns: ' The new management team is working with multiple vendors for improved delivery performance going forward'.

This implies to me that management are on the case to try to avoid future delays from contractors. Having ordered the towers for IO4 & 5 there is probably little they can do about the delay without incurring a penalty, so have to stay with it. These things happen - just look at the photographs on the web site to see the complexity of unit builds.

[tackems] 20/11/2013 13:32

Just like escapetohome I am in construction too and I appreciate the need of a fully integrated programme in any project. However any slight delay in any aspect will delay the final outcome but I feel convinced that they will mitigate this and lets face it any delay at this (early) stage will not jeopardise the 'big picture'. Not only this but any project manager worth his salt with a number of similar plants to construct will make sure that any lessons are learnt and that pre-planning will minimise or hopefully eliminate delays going forward.
I will be hanging up my adjustable spanner and joining Sandbag in retirement at the end of the year and so will be able to spend more time reading the BB so please keep up the good work people!
Interesting to note that 'Mr Palindrome' has gone 'blue' since the last time I noted his comments here....mmmm....I wonder why he did that? ;-)

[superg1] 20/11/2013 13:30

Pigeon

No update imo re the current permit, but we can't write off the unknown re ND and other permits.

As guidance the last two permits I saw achieved prelim determination 4 and 9 weeks after application correct. The first one was a very small permit so easy to write off, the other a larger permit.

IOF is a big application so I assume the 9 week period, I think someone has said we are at 6/7 now.

The bureau has 17 weeks to sort it.


CK re links and BUY.

I hear one has it as a buy this morning stating 'while retail are selling'. That's the way it works folks.

[meadow2] 20/11/2013 13:14

Duplication.

[mikealig] 20/11/2013 13:14

It is interesting to see the different takes on today's RNS. I find myself very much in the same camp as warmsum. It largely depends on when you got in and therefore whether you are currently up or down.

I bought more earlier today because the company confirmed it is producing iodine on a commercial basis and that production is increasing. Unless they do an about turn and state that the technology has failed or some other catastophe, the rest is just background noise as far I'm concerned. Maybe the management have not been on top of their game regarding IR but that won't stop IOF becoming a major iodine producer in the next couple of years.

I also noted supreme mo post regarding the comments from SQM. I think they clearly refer to IOF so why give the opposition any help in trying to work out how they should respond. Keep them guessing!

aimho
Mike

[meadow2] 20/11/2013 13:14

pigeon1 - There isn't a firm timetable for the water permit, it depends upon when the authorities issue the preliminary Determination to Grant. This has been awaited for 6/7 weeks now and a 45 day objection period comes into play when the preliminary is issued. Perhaps we shall hear of the preliminary by Christmas and possible start of selling water in March/April next year.

[bobbyshilling] 20/11/2013 13:13

IO1 & IO2 could be doing over 500mt on their own, right now. We only need IO3 to build up to 200mt over the next six weeks, and there you have the exit rate achieved as previously rns'd. That, everyone is with only THREE units!!

No problems here.

[monkeymagic3] 20/11/2013 12:53

Nice try Lib :)

[pigeon1] 20/11/2013 12:51

Can someone just remind me the timetable for the water permit?

And have iof suggested that they will rns any progress?

[diggulden] 20/11/2013 12:50

My problem is the ability to meet expectations. No one asked the BOD to make the statement that IO6 will be constructed by end of year, they were asking for failure with such a steep timeline.

I would have loved to see it achieved, but never believed deep down that it would happen. I think the run rate target will still be achieved, but why make it so difficult with the commitments they make! It's a basic thing to manage shareholders expectations. I agree the problems are not directly IOF's fault, but they should be factoring delays into future build targets.

The story is still on track, but as has always been the case, it going to be slower than everyone first though.

[hew] 20/11/2013 12:45

Re today's RNS:

For creating a new enterprise from new technology with a new business model as a new entrant in a competitive field and proving, now for the third time, their potential to impact substantially the global market in an essential resource: Full marks.

For some minor delays caused by third parties: What a grossly incompetent bunch they are!

After careful balancing of those two aspects, I've decided to stick with them.