Iofina Share Discussion Threads

[warmsun] 10/6/2014 16:00

Thanks for all the feedback - appreciated!

[cyberbub] 10/6/2014 16:00

Thanks for the AGM feedback - all sounds very encouraging for the next 2-3 months!No doubt a few small PIs selling on news etc...

[diggulden] 10/6/2014 15:54

Result of AGM & Appointment of Directors

The Board of Iofina is pleased to confirm that all resolutions put to shareholders at the Group's Annual General Meeting held today were duly passed.

The Board of Iofina is also pleased to announce the appointment of Tom Becker and Mike Coddington as Executive Directors of the Company.

Dr. Becker was the former vice president of Research and Development at H&S Chemical Company / Iofina Chemical ("H&S"). Iofina bought H&S in July 2009. Dr. Becker has conducted extensive research in both inorganic and organic halogen based chemistry. He has extensive experience in scale-up of chemical processes from laboratory to pilot to full scale production and is the inventor on several chemical patents/patent applications. Prior to H&S, Dr. Becker worked as an Oak Ridge Scholar on behalf of the US EPA and for various other chemical manufacturing companies. Dr. Becker earned a BS in Chemistry from Indiana University, and a PhD in Chemistry from the University of Cincinnati.

Mr. Coddington has 30 years of Accounting and Finance experience in various manufacturing industries and previously served as the Group's Finance Director from 2010 until 2013. He was reappointed in 2014. Prior to joining the Company, he worked at Orflex Ltd, which was acquired by Diversapack LLC in 2001, at which he served as Corporate Finance Controller until 2010. Mr. Coddington holds a BBA in Finance and Accounting from the University of Cincinnati

[madchick] 10/6/2014 15:42

thanks all for the info - no time scale on the minis? Guess it would have to be taken with a pinch of salt anyway given it's a new design and thus complications not yet known. And at the end of the day, what will be will be...

All sounding good, though. Thanks to everyone for the feedback, keep it coming!

[superg1] 10/6/2014 15:38

Costs

Initial aim low 20s hopefully moving to teens. Optimistic about the chemical change working. Io1 being used to test ideas like that.

Mobile end product finished at main plant crystallisation process (spare capacity).

[naphar] 10/6/2014 15:35

SG
I also got the 2 pads and electric hook ups ready to go.
New mobile design will cost about $600 k with hookup etc costing about $250k

[superg1] 10/6/2014 15:32

Design sorted and talked of US supplier modifying something they already do. Described as 600k parts cost and 25th to cover pads and sorting electricity supply etc, hence all in cost mentioned.
Others may confirm but I thought they said 2 site pads in with electric sorted.
Bogg1e posted re that and Google maps

[naphar] 10/6/2014 15:31

Lance
Jeff
Bill
company secretary were there

[superg1] 10/6/2014 15:31

Design sorted and talked of US supplier modifying something they already do. Described as 600k parts cost and 25th to cover pads and sorting electricity supply etc, hence all in cost mentioned.
Others may confirm but I thought they said 2 site pads in with electric sorted.
Bogg1e posted re that and Google maps

[phoenixs] 10/6/2014 15:28

thanks all for feedback.

[engelo] 10/6/2014 15:26

Against my expectation AGM has had several bits of good news: Prilling*, Minis, Bullmine, CEO :-))

*edit thanks Bocker 'product goint through now' that's BIG news imo with positive implications for sales :-))

Who was there from IOF please? Presumably Lance did most of the talking.

[madchick] 10/6/2014 15:24

bocker - thanks, good to know BoD members also continued to hold! Hopefully indicates something about long-term expectations.... excellent news about prilling - win-win situations are always good!

[superg1] 10/6/2014 15:23

Water date not fixed yet, possibly July. Mentality just like mine, they tick the boxes just like others have. Seems to be no lawful reason why they won't get it.

General comment about passing the buck to a water court to make the decision on such a big case.

[engelo] 10/6/2014 15:21

superg: thanks :-) Good news on prilling. Mobiles: are these details theoretical, or have they ordered any?

[bogg1e] 10/6/2014 15:20

SG any timelines for minis etc? Thanks.

[superg1] 10/6/2014 15:19

In a certain bod members words, they are a bunch of crooks. Exact details unknown but suspected production affected.
Bullmine was the surprise to me as nothing public yet. 47 per kg costs, always thought they were possibility underwater at these prices.
Mentioned a suspicion SQM happy to let a shortage develop. EG when prices turn, big buyers get active to lock in stock and that creates a price hike as supplies get hit.

Acf, algorta, Bullmine, sirocco, sqm pulled back on production. Cosayach the reason for cheap iodine now hit it seems.

[mr paul b] 10/6/2014 15:10

Cheers for feed back sg1, anything mentioned about the "Cosayach" situation ..

[superg1] 10/6/2014 15:04

Presentations to funds after am through the week. PIs busy either eating, beer or travelling back.

No moans this end re an end etc.

2 pad locations and power sorted and ready to go to receive pods as and when Iof see fit, funds there to do so, all in cost 850k.

Ceo candidates being looked at but one stands out. They want someone in that understands the iodine business.

Already profitable as in the last rns.

[freshvoicem] 10/6/2014 14:56

Lack of expected RNS is the reason for drop I would think.
Some were hoping for news on CEO, plants and water. Big disappointment for them.

[bobsworth] 10/6/2014 14:55

Yes not looking good for Bullmine having incurred sanctions!
.................................................................................................................

Chile sanctions SCM Bullmine over improper acid storage
By Business News Americas staff reporter - Friday, June 7, 2013

Chile's environmental regulator SMA has begun a sanction process against SCM Bullmine, which operates an iodine mine of the same name in northern region I.

Bullmine's sulfuric acid ponds lacked base flooring and sufficient sealing to prevent a spill, according to an SMA memorandum.

hxxps://www.bnamericas.com/news/mining/chile-sanctions-scm-bullmine-over-improper-acid-storage

[superg1] 10/6/2014 14:38

Just some snippets.
Bullmine have dropped production due to 47 per kg costs. Sqm closed sections 50 plus hence closure.
Japanese chats re supply of iodine.

Prilling already sorted through another that has spare capacity. Cost is same as Iof opex would be so no point re capex on a prilling plant.

New mobiles up to 5k bpd, just add extra mobiles for areas of higher ppm range. 200 to 1000 ppm sites for those.

Sites need no staff.

Water hearing more about

[ridicule] 10/6/2014 14:37

Lots of selling since Wall Street opened. Has there been a water leak? My Bank Account will need a plumber if this goes on!d

[diggulden] 10/6/2014 14:18

Fantastic Bocker, thank you.

[bocker01] 10/6/2014 14:04

Yes it costs what IoF think it would cost them in OPEX if they built their own plant. The third party has spare capacity and is grateful of the contribution to overhead acc Lance. Product going through now and Could save building a plant.

[diggulden] 10/6/2014 13:55

Bocker, that's news to me, Iof are using a third party for prilling? I know it was suggested it would be economical to do at this stage but nothing had been said by the company.

I am happy if that is the case, prilling is only required if we are selling raw product onto the market, so that is very encouraging in my opinion.