Iofina Share Discussion Threads

[woodpeckers] 27/3/2014 08:15

Don't see why the review is being deemed a bad thing. IMO it's more likely that they are just seeing better options, minis, water...? They state that they are very happy that the big plants are working and doing as expected so there's no suggestion that they are reviewing for bad reasons. Sensible move if you ask me.

[microcline] 27/3/2014 08:13

You guys are going to have me skint by forcing me to buy more at the sales.

[bryproj] 27/3/2014 08:07

Hopefully consolidation is the right thing without needing a cash call. Too much capex going on with prill tower, water, mini plants, large plants etc. I was involved here even before SG when they had nothing apart from the land. They have come a very long way in a short time.

[microcline] 27/3/2014 08:06

How are they standing still? Surely production will increase substantially with the new built plants and the mobiles on the way [and water].

[naphar] 27/3/2014 08:04

Not a matter of wanting to charge on regardless SG, not for me anyway, more a matter of why does an operational review take so long? Why had you not already planned one? In December you were saying up to 3 new plants in 2014? Now It seems like it will be none completed although some may start in Q4, not a good time to start as we have learnt.

[owenga] 27/3/2014 08:02

Ck. then why didn't they say they were looking at some of these options. I agree it makes it far less likely they need a fundraising, which is a blessing, but they can't just stand still.

[superg1] 27/3/2014 07:55

After all the chaos many seem to want charge on regardless

I much prefer consolidate, assess, and move on. let the drilling boom do it's thing then pick stable SWDs without the brine disruption.

Mobiles target high ppm wells where there is no disruption

Chem div can probably convert all production into derivatives = higher margins overall.

Options re the water depot instead of 'how are they going to fund that' etc.

The new bod arrival water industry expert can be no coincidence.

They could of course have just carried on throwing cash at it and perhaps dilute later in the year

[microcline] 27/3/2014 07:53

Tom,s sycophantic devotees have arrived en masse this morning spouting over-egged pish.

[naphar] 27/3/2014 07:53

I have thought in the past, that if we get the water permit, we should focus on that for a while and if it means delaying the build of a plant or two, given the quick return water might provide, it might be the best strategy. If this is how management are seeing it, then I am actually supportive of what appears to be no more new plants in 2014. But if that is the strategy, it would be nice to be told George.

On the plus side, it seems we are waiting for written approval to start operating IO4 and once that is through for both plants, IO5 will be ready to go as soon as all these tests are done. I think they will largely meet the Q1 objective, albeit by the skin of their teeth.

Iofina have reinvented themselves a couple of times in the past. If minis, used as satellites for the bigger plants they have in place, prove to be a better use of capital than lots of big plants, then so be it, no issue for me with changing the model slightly. My grumble, is that it takes so long!

[superg1] 27/3/2014 07:49

Beer
How can they control the drilling of the partners, they can't.

Best to step back let the drilling boom, do it's thing. SWDs only have a certain capacity so once that gets hit SWD X is now in a consistent mode.

Mobiles don't get disrupted as they target individual wells.

Under the circs suggested, IOF can probably process all their iodine through chem div internal expansion (shifts) as it was said way back they estimate a capacity of 800mt without needing to build.

I assume they could forge on and keep banging in plants, but with a water depot may be needed a prilling tower etc etc, then with all of that, it would seem cash would be needed.

Surely no coincidence that an expert in the water industry just appeared on the bod.

[dcgray21] 27/3/2014 07:46

Maybe the soon to be appointed chairman has opinions on direction ?

[noli] 27/3/2014 07:45

beercaptin, CF needs replacing, Bill with vast experience in brine and water will need to review the Plants/Atlantis Field/Brine Flows.

[leeming] 27/3/2014 07:45

Maybe they're hoisting the "for sale" flag.......Here's a little business with 6 plants proven to produce iodine but we think a major expansion needs a "big boy"
We'll put a pretty ribbon round the parcel and sit back for a few months to see if there are any takers.

[captain_kurt] 27/3/2014 07:42

Owenga... "capex drops off significantly re big plants, so now they can build cash flow etc, consider a prilling plant, mini pods, water depot and so on."

[owenga] 27/3/2014 07:41

Captain Kurt I assure you I am not trying to deramp. Look at all my past posts. They have only ever been optimistic. I am long and down at least 60%. I have given valid reasons for my concerns following this rns.

[beercapafn] 27/3/2014 07:38

Noli.

"while things in the background get sorted out."

Things in the background are how you RUN a company, not this review twaddle.

[noli] 27/3/2014 07:38

The review will also give iof time to review the current oil/gas new drilling schedule(s) from operators in the area.

[owenga] 27/3/2014 07:37

And why will it take 6 months for the review. It does seem they are looking at changing strategy. Maybe focus on mobile units, but why will it take so long to get some up and running? Maybe they expect to get water permits and that it why they are looking to change strategy.

[1madmarky] 27/3/2014 07:37

Disappointed that IO4 is not yet running. Building the plants does not seem an issue but doing the paperwork seems to be a major problem for them. This should not be the case. Oh well what's a couple more weeks, should be able to shelter a few more of these babies for the future.

[bulltradept] 27/3/2014 07:36

This sounds like unproven technology, where mgt are having difficulties which could go either way.

I was watching the action over the last couple of days and considered a position, but felt I'd rather buy in higher up with the issues sorted than lower down with uncertainty abounding.

GLA.

[sandbag] 27/3/2014 07:35

Obviously not telling us production figures because at this price they're a real bargain to a predator.

[noli] 27/3/2014 07:34

I think it depends whether your a bull or a bear, consolidation is good. The rns does not say no more plants this year, they are reviewing the current plants.

Water may, may not be close, mobile units are Q4,

Imho this rns will steady the ship, cash under control, hit the 700mt target set while things in the background get sorted out.

[richi_rich13] 27/3/2014 07:33

Another terrible rns
more missed targets
more delays
still refuse to give any indication of production from io2 / 3 despite this been core.
yet more delays on mobile units. Have been 'nearly' designed for a year now.

Not against review but I fear it is forced due to cash rather than for the reasons stated.
fingers crossed for the 'non core' water permit. Which is getting more and more core by the day.

Better get my tin hat on. Yesterday's buy was not well timed

[superg1] 27/3/2014 07:31

Well for me it's a sigh of relief this whens the next plant being built was driving me nuts.

I wish I hadn't posted last night now, as I mentioned a desire to just get the 6 in place, up and running, running costs and margins sorted instead of forecast opex.

Plus get some mobiles in place on the high ppm sites as direct well location removes the disruption.

It sounds like the above is what they plan

Absolutely no way imo that they are out to raise funds. That doesn't fit with what happened re the Stena loan and what they have put out today.

Water queries sorted and sent to the bureau, so down to the water bureau now. It's no secret that I expect the award of the permit, I just query whether it will be for all or a significant part of the amount requested (as in the rules/guidelines)