Iofina Share Discussion Threads

[uriney] 13/6/2013 14:46

Scrutable,

Your charting expertise is impressive however you do seem to become unstuck with SB's on IOF on a regular basis, this has got to be costing you money, try increasing your surplus margin to avoid this frustration, perhaps I could interest you in a loan at the same interest rate as Wonga currently offer lol.

As Spreadex are closed for longs, try the following who are currently open.

City Index
Barclays
GFT Global
SP Markets
Tradefair.

Uriney

[nevmyers] 13/6/2013 14:22

Scrutable

I have account with IGIndex and found they operate in strange ways also, luckily for me I have only invested small amounts with them on different shares but they always seem to find a way to close the position, I feel more confident sticking to the real shares for now but may have a look at another SB company in the future unless we finally get AIM shares into ISA

[spike_1] 13/6/2013 14:09

Looking at it laterally, something changed between the announcement of the AGM resolutions and yesterdays announcement.

IMO it is most likely to be one of two things:
1)Something relating to Lances medical condition had changed (for the worse), to me unlikely, given his continuing apparent day to day involvement / communications.

2) Lance has stayed in post if only nominally, to maintain the status quo. The only reason to change that is that they have just found someone who has agreed to take on his roll. This is most likely as the logic to removing the AGM resolution doesn't make sense otherwise: why destabilise the Company without good reason.

This being the case we will get a strong hint at the AGM.

WHy don't we know who it is? They will have - most likely been headhunted and there may be contractual reasons why the person concerned cannot announce it. Conceivably it will be significantly detrimental to the other side, and they may not wish it to be known (during the severance period)whilst they recruit someone else, assuming they are not automatically internally promoting.

But WTFDIK. Just using logic.

Best wishes - Mike

[scrutable] 13/6/2013 14:06

This morning IGIndex selectively removed 40,000 of my IOF before 8.05 am on the spike. They operate with a continuous margin warning whenever you go below 100% - which for me means all the time, as I work with maximum gearing. They don't disclose, but operate on, a loose 50% rule and refuse absolutely to warn you of their immediate intention. This gives them the freedom to pounce whenever they feel like it

I shall slowly dismantle my positions at IG and transfer my account to Spreadex who provide much more gearing - don't close down your positions until you are 80% under water, and have the decency to phone me when I am nearing the trigger point so that I can throw out my own selection of the portfolio to keep within their rules re maximum risk.

There is no comparison in service quality.

Unfortunately Spreadex have overshot their own limits re IOF holdings and are still overweight - a position which is unlikely to change. Nearly everyone here must be acutely aware that the free float is drying up and will continue to do so as IOF becomes more widely known and wanted, and new institutions try to muscle in for the unique and obvious long ride upwards.

[scrutable] 13/6/2013 14:06

thanks librarian for your piece on Harold Hamm. This has been a particularly interesting board this morning with sg's analysis of price- production -demand relationships being very enlightening.

The two you have made my morning which began very badly.

[rogerbridge] 13/6/2013 14:02

In for a penny in for a pound. Good recovery so far today, managed another couple of thousnd earlier.

[rogerbridge] 13/6/2013 14:02

In for a penny in for a pound. Good recovery so far today, managed another couple of thousnd earlier.

[engelo] 13/6/2013 13:17

Very well put ansana.

Perhaps they will just say at the AGM 'Selection process well advanced' ... 'number of excellent candidates'...'appointment expected in near future'...

One of those jobs where strategic vision and drive are all important: there won't be any iodine people out there and in any case there's plenty of iodine expertise already on board. Otoh maybe oil and gas sector would be good background??

[ansana] 13/6/2013 12:59

I agree Sky, that Lance and the company would know that the market is impatient and likes surety. If it was uncertain when Lance would/may come back it would be a cloud hanging over the company. It was a pragmatic move yesterday. Lance is still there. The next step is to replace him. If IOF have managed this affair in stages as I believe they have then a great deal of thought has already been given to the new appointment.

I was going to ask yesterday but didn't want to add to anyone's anxiety what was likely to happen once we dropped below the 237, I think that's the figure Coco talked of. The answer came yesterday with all those buys and today with us just steadily climbing back. Nicely managed IOF.

I am positively looking forward to updates, the AGM and H2. Onwards and upwards.

[mikealig] 13/6/2013 12:56

SHONNY 12 Jun'13 - 16:55 - 1717 of 1812
Closed on the days low. Not good. Todays top up merchants have jumped the gun. I,m expecting 200p tomorrow.

Seem to remember you saying something like this when the April announcement was made. Third time lucky maybe!

[skylite] 13/6/2013 12:49

There's more likelihood of Dennis Skinner inviting David Cameron over for Christmas lunch than Iof choosing a dodgy CEO Nev.

[noli] 13/6/2013 12:48

If i was a betting man then i would say iof already have good candidates lined up, we won't have long to wait.

[nevmyers] 13/6/2013 12:42

Yes sky if they find the right one then I agree but to appoint someone not suitable would cause even more uncertainty and panic for the markets.

[skylite] 13/6/2013 12:36

I disagree Nev; whilst Iofina won't be choosing a CEO just for the sake of it, the importance of selecting the right one and not procrastinating about it will be like a soothing balm for the markets. Without one there's uncertainty, or seemingly so, with one (and the right one) not.

[nevmyers] 13/6/2013 12:19

IOF will have know for a while that Lance was stepping down but I don't think they will rush into appointing someone new. there is no need to rush into this and the right man or women for the job could be hard to find.

[engelo] 13/6/2013 11:19

retiree/lib: that would be a coup :-) Maybe a bit too much to hope for, as if it had already happened it would have been in the RNS, which only leaves a week. Presumably there will be a gap between the appointment and start dates, too, but the appointment will steady the unsteady :-)

[the librarian] 13/6/2013 10:35

I don't know engelo, either they will announce something at the agm... or continue as they are until they do find ideal person. Whatever they case may be they are well set up to continue on their chosen path.

[engelo] 13/6/2013 09:56

Think we can assume that the search/research for a new CEO has been going on for some time, if only as part of a contingency plan.

what's anyone's guess as to how long this would take?

[engelo] 13/6/2013 09:49

SG: thanks for latest weighty info/analysis which will drive us forwards as soon as this little storm is over.

[engelo] 13/6/2013 09:44

Thanks all for education on RSP :-)

Just to clarify, if I deal online (through HL in my case) everything depends on which MMs in the stock they have signed up with for RSP?

HL say on screen that they have a 'Price improvement' system which sometimes betters the quotes displayed and they then tell you how much you have benefitted. Presumably this is RSP.

[diggulden] 13/6/2013 09:39

And I guess that is the point. By the time Chile have addressed their infrastructure problems, it will be too late. Iofina will already be the lowest cost Iodine producer in the world and hopefully controlling prices, not a lot anybody can do about it then.

[superg1] 13/6/2013 09:35

There's more.

Chile is the key and if anyone had read many of the links I have posted, the Chile government predict themselves, that their worst year re power and water will be 2015, so it's a slide until that point, with a decade or more needed to try to solve water and power infrastructure in the future.

There is no quick fix for Chile and a door open wide for IOF, which they plan to walk through at pace.

[the librarian] 13/6/2013 09:26

A bit about Harold Hamm and what he thinks, I'm sure that he will be adding to his significant fortune (no. 35 in the world) over the next few years!

'A pioneer in drilling the Bakken shale of North Dakota, Harold Hamm now thinks the play is the biggest in the United States, with the potential to yield 24 billion barrels of oil in the decades to come, and be producing more than 1 million barrels per day within 5 years. No company has more acreage there than Oklahoma City-based, publicly traded Continental Resources, of which Hamm owns more than 70%. Blistering growth: oil and gas production has surpassed 100,000 barrels per day. No wonder Mitt Romney picked Hamm as one of his energy advisers. Down-to-earth guy prefers burgers at Sonic and drives his own pick-up truck. With his wife Sue Ann, Hamm has donated $30 million to create a diabetes center at the University of Oklahoma. The couple has signed on to the Bill Gates-Warren Buffett Giving Pledge.

hxxp://www.forbes.com/profile/harold-hamm/