Iofina Share Discussion Threads

[trav5] 18/12/2013 11:07

In my first post I stated this was my first investment in an AIM resource stock as I generally feel the risks outweigh the rewards! I made an exception in the case of IOF as I felt they had reached the stage where they would turn potential into cash I was wrong. Going forward the potential remains, however, "no increase in revenues" is where I have a problem the reasons I feel are immaterial. AIM is littered with companies failing to turn potential into cash. The bonds only increase the risks going forward I will make a decision over the weekend when I have more time as to whether I stay invested going forward.

[2vdm] 18/12/2013 11:06

Thanks che7win. Comments noted and perhaps he can help sort this mess out and get it back on track.

Hi TP. Another interesting company here along with our favourite ais specialist.

jackabite / Masurenguy, apologies, but no option but to filter you.

[jackabite] 18/12/2013 11:04

Masurenguy

once again you bottled it to tackle the question and answer it honestly.

secondly, I have not lost money, I have never invested in anything to do with Superpooh and my only gripe with him is how he treated myself and other in a company he was not invested in.

Now, I can't be any clearer, no need to reply. I know your motive.

[iofra] 18/12/2013 11:02

gadolinium
Not sure that's correct as RNS says fully satisfying Iofina Chemical:

Although not fully optimized, the three combined plants are averaging in excess of 1,000 kilograms of iodine per day, satisfying the Group's internal iodine demand while building inventory for future outside sales.

[gadolinium] 18/12/2013 10:53

Rich-Rich and others,
the suggestion that >1000kg day is equivalent to a production rate of >365 MT a year is unrealistic. No chemical plant can be expected to run 365 days/year non-stop.
I have feeling, although I cannot find it in my notes, that Jeff Ploen suggested 300 day/year running time, can any one else recall a figure?

JP stated Iofina Chemical iodine consumption was 400MT/year and could hopefully be increased to 800 Mt/year, but no timescale recorded. So probably not yet in a position to sell surplus raw iodine on the open market as indicated in the RNS.

[the prophet] 18/12/2013 10:49

Im interested in buying back into these. For sure, the company hasn't handled things too well, but they have proved that the core of recovering iodine in volume is achievable.
Anyone who has dealt with chemical plants and non-standard feed-stocks will know that delays and modifications to improve performance are standard. I think IOF set wholly unrealistic time-tables for the plants and the running/tweaking/manning of. Looks like they have now re-based things and the shares have value, imo.

[molatovkid] 18/12/2013 10:48

Moly, reading the RNS from yesterday, it seems to me it wasn't even 100% negative news.

Yes, 2013 hasn't ended the way people expected ( BB expectations are rarely realistic), but this is the real world and things don't always go to plan.

Sounds like 2014 is going to be the transformational year, they are half way there.

If people can hold and take a view beyond a few days, weeks and months, I say there is everything to play for.

Dr Fay seems to think so.

[wizard2020] 18/12/2013 10:45

I still have faith in this company even if the Board seem to have a way with words that could be best described as unfortunate. Maybe the delayed roll out has something to do with either lower I prices or the new news re old wells (but note the caveats they put into the RNS). Nobody can really criticise superg for the work he did and shared with generosity. Comments re sources send shivers up my spine as it smacks of a desire for 'insider' info that should not happen - our decisions should be based on analysis of public info but there is more clarity that the board could and should provide. Let us not forget that the current share price is still100% higher than it was in July last year and the running income of this stock will be much higher next year. In the end this will come good the fear is that the current malais results in us getting taken out at a lower price than IOF warrants.

[n3tleylucas] 18/12/2013 10:42

2vdm,

The relationship (conflict of interest) with Stena on the one hand appeared a blessing, however there is a much darker potential outcome.

If the share price collapses, Stena becomes effectively in control, it could force a swamping share issue, and accept any old "rescue" offer.

Ordinary pi's are in real danger if the bad news continues unabated.

[che7win] 18/12/2013 10:42

The water JV with Haliburton was a bad mistake to walk away from. Nothing has happened since when we could have had £15m and an expert partner going forward.

It's strange that the water division alone could be bigger than iodine in the shirt term.

[uppompeii] 18/12/2013 10:41

Maybe it was non core back in the days richi, I would say it was very core now!

[spike_1] 18/12/2013 10:41

5 figure paper loss, but still in, mostly sb covered down to 20p and cash to cover the rest if needed.

Have been buying this a.m.

Once I'm reasonably certain we have a reversal, I'll be buying aggressively (for me anyway).
Apart from the water, 70% of our problem is non-delivery of towers. Is it really fair to blame IOF for that? Hindsight and all that.

Going towards the mobile units will reduce the uncertainty in that direction.

I am not a happy bunny, and as with others showing my face at Christmas will not be easy.

Best wishes - Mike

[killerbudgie] 18/12/2013 10:39

Jackabite - "Was it OK for Superpooh to come onto GDL on a bad news day and trash our thread and mock shareholders? He was asked to leave on several occasions and without any retaliation onto his threads and he still persisted"

Jackabite - Do YOU think it is OK? Obviously you do since you appear to be doing the same thing that you are accusing 'superpooh' of.

[richi_rich13] 18/12/2013 10:39

I forgot to mention water.

This is the biggest disappointment because business is about making money, and money underlines everything about the business. The water business model was ridiculous. 80,000 a day = 30 million. That doubles revenue. A remarkable achievement by any business standards.

I am not quite sure why it is been classed as non-core, because it as the potential to transform the business financially. In fact the potential is so huge it would soon overtake iodine. It will/would have underlines all expansion plans, given the company and share price a solid base.

I hope they can turn around the application.

[molybdenum] 18/12/2013 10:37

I'm in the same position as you, 2vdm, with the same wish for sensible comments.

It is always a mistake to get emotionally attached to a share!

[jackabite] 18/12/2013 10:35

Masurenguy

you still never answered my question, I never asked if you knew him or if he had his reasons for doing so.

I asked if it was fair of him to slaughter share holders of another company when they received bad news, share holders who never done anything to him but he hammered us? was it fair to goad us and say our company was going down the pan? for no reason at'all I might add?

To answer your question, hich I have no problem with and I will be concise.

I returned to seize my opportunity to repay superpooh for his boasting and his lack of respect when others were having a hard time. All his sneering and vindictiveness.

btw, I waited about a year for this and it feels nice.

If I am honest it's just a shame he was not man enough to come out and apologise and say he was wrong to do what he done to us and I would have been more than happy to have accepted that and move on! it take a bigger man to admit when he was wrong and I would have took that and let bygones be bygones.

I still would! until then, let's call it Karma!

[che7win] 18/12/2013 10:34

2vdm,
The new finance director is anything but naive or incompetent, that is part of the reason behind the RNS I suspect:

Iofina, specialists in the exploration and production of iodine and iodine specialty chemical derivatives, is pleased to announce the appointment of Mr Gary Dale Gatchell as an Executive Director to the Board. Gary will also serve as the Company's Finance Director with effect from September 3, 2013.

Gary (56) has a demonstrable twenty five year track record of financial experience and expertise. Most recently Gary was Chief Finance Officer of NASDAQ listed Ascent Solar Technologies, Inc. ("Ascent Solar").

Gary brings to Iofina a strong background in public company financial reporting and internal controls. He also has experience with private and public capital funding, as well as merger and acquisition activity on both the buy-side and sell-side.

From 2005 to 2008, he served as the Chief Financial Officer of Carrier Access Corporation ("Carrier Access"), a telecommunications equipment provider, to reorganise finance and administration infrastructure. Prior to joining Carrier Access, Gary was part of the original founding management team of Voyant Technologies, Inc. ("Voyant"), a leading provider of audio conferencing equipment that was subsequently acquired by Polycom, Inc. Serving as Chief Financial Officer he helped grow Voyant from eight employees to over two hundred, enabling a return of 20x to Voyant's Series A investors, after only four years. A previous audit manager at KPMG, Gary is a registered Certified Public Accountant and has a Master's degree in Accountancy from the University of Denver.
The Company's current Finance Director, Michael Coddington, will remain with the Company as Chief Financial Officer of Iofina Chemical, Inc., allowing him to focus on the growth and financial aspects of this division. Michael has done an excellent job for the Company during his tenure as Finance Director. As was always planned, once the Company established itself as a key player in the iodine market, strengthening of the Company's financial team was envisioned to ensure rapid growth, good corporate governance and balance the workload across a sound financial management team of which Michael will be a key part.

Commenting on the appointment Dr. Chris Fay, Executive Chairman, said ''We are very pleased to welcome Gary to the Board at a very exciting time in the Company's development. Gary has extensive financial management experience that will be important as Finance Director in order to maximise this exciting rapid time of growth and profitability. The Board would like to thank Michael for his support to date and looks forward to working with him in the future"


Save as set out below there is no further information required to be disclosed pursuant to paragraph (g) of Schedule 2 of the AIM Rules:

Current Directorships:
Directorships in past 5 years

Colorado Advanced Manufacturing Alliance

[richi_rich13] 18/12/2013 10:29

Having had a day to reflect I am still holding but still have big questions that need answering.

What is the year end run rate (the marker they themselves set) is it 365 (1000 kg) 400 (1100 kg). these small changes make huge differences to the company prospects. Saying over 1000 kg a day is not clear.

How is IO3 performing? I have my suspicions that the answer is very poorly. why? because at the AGM we were told 1 and 2 were on 700 kg. October was a 'record month' for iodine (i.e. above 700 kg) so to only quote a figure of 1000 suggests 250-300 at the very best.... or 90-110 mT. If my suspicions are correct (and all they are are suspicions) then that may explain why they have decided to cut some of the plants in 2014 and go for mini units.

There is one other thing that bugs me. The delayed towers... I understand one is from Ukraine and one US. I find is a huge coincidence that both (from very separate suppliers and very different products) are delayed and BOTH are due to arrive in the same week.

All the other factors in the statement don't really concern me. Iodine price fall we can handle, I am fine with inventory building, prilling tower is fine, IO6 construction is good (I hope they have ordered the tower!!).

From here the company needs to shut up, get its head down an concentrate on delivering plants 4 5 and 6, get a mini built and then see where we are re. iodine production. All the rest is just distraction, stop messing around with plans, plants, suppliers etc and just deliver what you have set out.

Having said that, I don't buy into all the doom. Look back 1 year, we had basically no production. Now at least 365 MT. with the potential to increase that to 1000MT + (this is the figure I am using, don't believe management target) in a years time. That is huge progress on any mining/ manufacturing scale. Delays happen and unfortunately the market HATE delays. But once we are over the delays what does the company look like? Answer... one of a number of very good growth shares. Not the best it was a few weeks ago, but still a good one.

[masurenguy] 18/12/2013 10:26

Jackabite - 18 Dec'13 - 13287: Was it OK for Superpooh to come onto GDL on a bad news day and trash our thread and mock shareholders?

I don't know him and if he ramps or deramps any share without an informed case to back his view then I would ignore him. Blaming others for your own mistakes and mounting a vitriolic campaign against another poster is just despicable behaviour. So is your constant use of unnecessary expletives too.

You have failed to answer my question. Since you resigned your subscription from ADVFN in October why have you subsequently returned? AS YOU ONLY POST ON THE IOF THREAD IT SEEMS THAT YOUR ONLY MOTIVE IS TO CONDUCT A VINDICTIVE CAMPAIGN AGAINST ANOTHER POSTER. That is a very sad and despicable reason and says far more about you than anything else. Get a life !

[oldtown] 18/12/2013 10:26

The death of an aim share tipsters, well it happens a lot round here.