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[engelo] 07/6/2013 15:44

dig (1180): Agree would be nice to know formally of IO3 construction start. Presentation said beginning of June, I04 1 month later. SG's (1182) imo implies 'no change'.

However if not announced previously then should be able to sus out the current state of play at the AGM, either through the front door or the back...so not long to wait.

edit: slow typing by me and already out of date :-)

[diggulden] 07/6/2013 15:39

L2 getting busy

[monts12] 07/6/2013 15:32

I think JP mentioned early June for start of construction and Aug commissioning for IO3 with IO4 lagging by 3-4 weeks

[diggulden] 07/6/2013 15:32

Cheers SG. Hopefully we will get an update at the AGM.

[superg1] 07/6/2013 15:29

I have no reason to believe it hasn't Dig, if that helps.

[n3tleylucas] 07/6/2013 14:52

God even the swings here are non-existent now ... as for CUP ... nice big swings, if yer not too greedy. Me mate got some sub-50 yesterday, he was lucky.

[diggulden] 07/6/2013 14:49

This is the one thing I would like some clarification on, whether construction has began for IO3 or not. This starts the ball rolling for the rest and will set our timelines, it will be a poor show if it isn't already being constructed.

[superg1] 07/6/2013 14:47

Monts

Yes near there a s far as I recall.

Robo

They state in the presentation they expect up to io6 by the year end. Io7 and 8 starting was said to be a very slim chance. The point being I think they will achieve up to io6, but up to io4 would be fine due to the plants being in OK.

If you recall very recently someone put up a job ad for IOF, re someone supervising plant builds, with a target to cover 3 more plant builds this year.

That takes us up to IO5, but I understand that doesn't cover io3. That would make sense if io3 is already being built or the build starts before they can employ someone.

[diggulden] 07/6/2013 13:53

Some big trades just gone through.

L2 changed to 4 v 1.

[roboben] 07/6/2013 13:32

SG - If you know something, then, fair enough. But, let's not forget that at the presentation Jeff wasn't even prepared to state for certain that IO6 would be up and producing before year end.

Beware of getting carried away with talk of 7 & 8 this year - unless you KNOW something.

[superg1] 07/6/2013 13:03

Che you forgot number 6.

Io3 then io4 weeks behind with io5 and 6 in H2.

There was the mention of a slim chance of io7 and 8 starting the build before the year end.

Juts io3 and 4 running by the year end kicks us on significantly due to where they are going.

It's not about plant numbers but bpd and ppm. However to save any points towards doubt, it seems all looks well for delivery as indicated

[monts12] 07/6/2013 13:01

SG
I vaguely remember you posting earlier in the year about the brines being much better in OK (when plans were to site IO3 in TX) and I remember wondering at the time why not site the 3rd one near IO2.
Did you convey your thoughts to IOF at the time???

[johncsimpson] 07/6/2013 12:59

Got some at 97 . . .

[moormoney] 07/6/2013 12:47

Engelo ..nice one. I am old fashioned and buy rather than sb so I'm fully in at the moment but waiting for GKP to bring some funds over here. It feels as though something is going on in the background though..maybe another ii buying in?

[superg1] 07/6/2013 12:41

Che

Io3 was held back to put it on a prime spot.

Was it better in Texas at 100mt per year, or in OK on 400 to 500mt per year.

The answer is obvious as, in 1 quarter it can do more in OK, than it could in Texas in a year.

That's not to say there are not some good ppm's in Texas, but just not great where it was going.

So Yes it could have been running by now but on much lower production rates. The wait will be worth it.

Then we have 3 more on similar brines. So basically 5 near term plants on the hot spot, which it would have taken 20 to 25 plants to do on similar brines to the original io3 site.

It was a no-brainer to re-locate it, and take a few months delay. It's not just about productions levels. Opex on low producing plant will be higher than on the good production sites production.

So in truth, in terms of profits, IO3 at it's new site, will be worth 5 to 10 times what is would have been worth in Texas.

[johncsimpson] 07/6/2013 12:39

Igas about to cover a gap that needed filling; 97p a good price to buy IMO. Might even go to 95.

[skylite] 07/6/2013 12:30

Apparently he ran out of fuel. Now it's careless when driving a car but I would have thought piloting a plane putting enough fuel in for your trip would carry a greater significance.

The Pilot here has now been told that it was engine failure, his first plan was to land on some school playing fields nearby but when he got there it was break and full of kids. Plan B was to slow the plane down to such a low speed that the auto pilot ejects the parachute.

[engelo] 07/6/2013 12:29

moormoney: was gong to claim responsibility after I added at 231.90 but the opposition has countered...

[che7win] 07/6/2013 12:25

I know the plants are being bunched up, but we really should have had #3 rolled out by now, lets hope 3, 4 and 5 all come together (as indicated to us).

[superg1] 07/6/2013 12:21

I wonder what his texts were on the way down. lol

It's great isn't it, being in a situation where, you have plenty of time to think about how much it's going to hurt, when you hit the ground.

[diggulden] 07/6/2013 11:53

Not taking many buys or sells to move the price at the moment. L2 showing 11,000 shares at 237 which will be barrier short term.

[moormoney] 07/6/2013 11:39

nice bounce up...big buyers around or mms playing tricks??

[n3tleylucas] 07/6/2013 10:57

Yes indeed SHONNY, I fear a disheartening summer slide here, followed by a shocking interim set of results. My 75p target may prove to be wildly optimistic by the end of year, even 40p may seem high, 20p looks about right.

[superg1] 07/6/2013 10:47

On management, they are going to need a finance director on the BOD eventually anyway. Thanks for the views.

I'm sure the roll out is going just fine :-)

[shonny] 07/6/2013 10:38

sp looking a bit sick this morning.