Iofina Share Discussion Threads

[cyberbub] 10/6/2014 20:41

Thats very reassuring about Lance's shares! Though strictly speaking he should have RNSed the transfer... although perhaps he didn't need to if he is still formally in control of the shares... who knows... these trusts are very complicated legally... the key thing is that he HASN'T sold them, despite everyone's fears a few weeks ago!! Phew!NAI

[hew] 10/6/2014 20:41

Re Mr B's presence, in informal chat afterwards Jeff said he had no idea......proves nothing!

[rogerbridge] 10/6/2014 20:38

Thanks to everyone for the encouraging feedback.
Seems all is going to plan.
Looking forward to water news sometime in July

[hew] 10/6/2014 20:36

Re when brine availability improved - the first question (mine)- they have been looking at Chesa's brine flow paths. L said all the wells are linked up towards SWDs and the system overall contains 170K barrels of brine. There are factors like the relative heights of plants and wells and the points at which oil/water separation is done and whether the costs of adding facilities (I guess extra pumps and pipes etc) are worthwhile. Also fracking plans can change. The situation is complicated but he thought some improvement was likely by the end of July. He emphasised that the issue would be over within 6 to 9 months and the fracking would be very beneficial for future flows.

On the question of what had happened to the shares he no longer owns, L answered very straightforwardly - as for all his answers - that they had gone into family trusts for estate planning purposes. Apparently a more common procedure in the US than here. I know this has been stated several times previously, but today we heard it from L himself.

[naphar] 10/6/2014 20:34

cyber

Mr Big not there as far as I know.

150% growth, not sure what the basis was and did not ask, I was not sure if it was turnover or production output so will exclude from my write up, others may have asked afterwards.

I would not expect such a large jume in July production, because it takes time for plants to bed in, so IO5&6 should contribute but I don't expect it to be huge. August production should be a better improvement IMO.

[cyberbub] 10/6/2014 20:26

All very very encouraging...I also would not expect a large increase in the july figures (ie. June production)... but hopefully the august figures (july production) will show a big jump, and by the sept figures (august production) we will have a further rise to full stable production from all 6 plants...One query for those that were there: someone mentioned that Lance predicted a "150% increase in production in the next couple of years" - what do you interpret that to mean as a target production level by 2016? ie. 150% on top of what? The stable 6-plant production level of 700mt p.a.? That would mean a target of 1750mt... Or do you interpret it as 150% on top of the current level of about 500mt p.a.? That would give a target of 1250mt...And one frivolous but interesting question that no one has yet asked or answered... was Mr Big there?! :-)

[danster4] 10/6/2014 20:11

Budgeting has also been restored to all business sectors to prevent any further reckless spending. Interestingly no glossy brochures handed out this year at the AGM...

[dcgray21] 10/6/2014 20:11

Rich - lance mentioned around 350mT for IOChem usage

[jointer13] 10/6/2014 20:00

everythings been well covered here by those that were at the agm.

my notes 60 days up and running for mobiles. looks like they are going to play a big part.
they are very excited about how things have come along...especially the last 2 weeks.
water hearing date is july if not moved.
there has never been a case where a company has had all requirements in place and been refused a water permit.
they will update the market for the time being.

it looks like we have turned it around. I am glad I went

[richi_rich13] 10/6/2014 19:59

Thanks all for the feedback. Very encouraging, and hopefully now a solid base to build over the next 12 months.

I have 2 question;

1) Any mention of the fracking disruption, how much has it impacted potential throughput at the plants and when should the disruption finish?

2) Did they mention what capacity IO chem is currently running at and what the plans are regarding expansion there?

[monty panesar] 10/6/2014 19:43

Thanks dcgray.2mt per day minimum ties in with old management expectations.
Amy comments on IO7?I thought it had been inferred they knew site as it was similar to IO2 in production terms.

[gadolinium] 10/6/2014 19:34

Super,
I see Viachem are also agents for other Iofina products, namely:
Chloramine-T (a non-iodine derivative), Hydriodic acid, Iodophor, Potassium iodide and sodium iodide.




Thanks yet again to everyone, the information just keeps on coming!

[dcgray21] 10/6/2014 19:29

Monty. - Lance comment to turnaround is that they simply reverted back to the business plan and how things were run last April . Simple as that . He also commented that optimal production from 6 units would be 2mT / day but caveated that with ...it's a very conservative estimate . Lances only slight presentation hiccup or more precisely a cough was when asked about a takeover . He was a pains to assure us he has 20+ years m&A experience and would ensure a best deal for shareholders Finally I thought I heard Lance mention that an option to work around the $4m capex outlay required for the Prilling tower was to get the funding from a customer and pay them back via iodine production .Finally Lance stressed that the review that is being conducted will form the platform for a revised business plan so we may get some insight in next few months as to what this envisages

[superg1] 10/6/2014 19:27

Clearly stated about Japanese, heard by all so Mr Big not joking.

Recycling still around but will be phased out as lower cost production replaces it.

Even iof talked about the Chile 150 rule so will be keeping an eye on that one.

[bazzerp] 10/6/2014 19:21

Very reassuring AGM reports from you all. THANK YOU.

I luckily sold most of my holding last June to buy a small house here in Cape Town,
but have held the rest & seen them decimated - no money for medical expenses, etc.

Luckily I will be 65 next month so more income & a bit of cash; some will go into CMS & the rest will be moved out here.

Your research is very much appreciated from so far away.

Barry

[senden11] 10/6/2014 19:18

Agreed that we can probably expect monthly production updates in the short-term
until the situation has "normalised", which I took to mean consistent sets of numbers/improvements being achieved. In the same context, Lance referred to 35-45MT as the current range, which I took as where we are likely to be until more plants are producing, so I don't think we should be expecting another 86% month on month rise in July then! All in all, LB came across as a man who clearly has an in-depth knowledge of the business, was calm and collected in his delivery and must have a bloody good set of ears because I didn't hear him ask for a single clarification or question to be repeated, despite the range of English accents thrown at him! Was reassured that we are in safe hands again - for the moment, at least.

[bobsworth] 10/6/2014 19:11

Great feedback everyone. A big thank you from me too!
Lots to look forward to and pleased to hear that Lance was on form and looking very well.

[battery] 10/6/2014 19:10

My thanks also to everyone for sharing their observations/notes from the AGM. All very interesting reading.Lance has certainly grabbed this co by the scruff of its neck to get it back on plan.

[superg1] 10/6/2014 19:10

Chinese whispers gone wrong.

They never said they would stop monthly updates immediately.

Obviously introduced to show progress and calm fears, clearly there are some. My guess would be monthly updates june/July and poss further as io5/6 join in.

By the way i05 said to be on the best site of of io3 to 6.
Power survey done just a case of waiting on power folk to sort power supply over the next month.

[monty panesar] 10/6/2014 19:04

Considering we were led to believe this was a duff/bankrupt company only 6 weeks ago it seems to have been an amazing turnaround in a very short space of time.

[roundup] 10/6/2014 19:02

I hope the decision to stop reporting each month is not immediate. I can understand that this would not go on indefinitely, but short term it is essential to reassure us, and by discontinuing would cause the doubt that we can't maintain the momentum .

[superg1] 10/6/2014 18:55

Prilled fact sheet on this page

[bogg1e] 10/6/2014 18:47

dc, naph, sg cheers.

[superg1] 10/6/2014 18:44

Sorry phone correcting things. Plant kit 600k all in for pad and services 250k on top.

Two sites pads and electric ready to go.

Prilled

I found a pdf for IOF Prilled iodine but ignored it as I thought they were not doing it/didn't make sense. Think it was with viachem.

IOF have a deal with a n other who has spare prilling capacity. Cost involved is equal to open if they built their own. A n other in need of cash so works for both parties. Hence no capex currently needed for a prilling plant.

[naphar] 10/6/2014 18:36

On train home. Will type up notes and post later.