Simbr
07 Jun 2016
Re: Debt Restructure Iofina has announced a comprehensive restructuring of its Convertible Notes, which shows clear support from note holders Stena and Panacea. The elimination of short/medium-term liquidity risk increases... Refinancing becoming of critical concern. A concern for the market has been the looming 2017 maturity of $20m of convertible debt. scraped this from Research Tree
Simbrad
07 Jun 2016
"Iofina has announced a comprehensive restructuring of its Convertible Notes, which shows clear support from note holders Stena and Panacea. The elimination of short/medium-term liquidity risk increases... Refinancing becoming of critical concern. A concern for the market has been the looming 2017 maturity of $20m of convertible debt. With conversion prices around 100p per share, it was looking..." scraped this from Research Tree
the old trout
07 Jun 2016
Re: Debt Restructure You coudn't have asked for a better deal. Well done IOF, I am a very happy bunny this morning.T
nk1999
07 Jun 2016
Debt Restructure Looks like very good news and a great show of faith in Iofina by the lenders.They are also happy to take Iofina shares at 32p each.[link]
Gooffy
09 May 2016
Resuts I was in and sold on the pullback.Made a small bit of my loss backRecovery of iodine prices is critical as still making loss but I think they undercut chile so chile may lose in the long run.People lend to make money if they are paying ok then probably get rolled overIf price doesn't increase it will slowly die issuing shares to keep going seen it a few times.Perhaps chile ought to buy it while it's cheap
Tentative Predator
09 May 2016
2015 FY Last analysis at [link] worse than my forecast, but not really significant - they say the higher negative cashflow than my forecast was due to building inventory for new markets they've already identified, so effectively they hit my forecast. Which means that nothing has really changed, the debt due in almost exactly 1 year from now is critical.Which means currently this is purely a couple of bets, analysis can't help determine how those will go. Bet 1 is that they can negotiate loans. They claim confidence here, but normally that would mean they would have released news alongside the final results stating new terms have been agreed. Just to be clear this is a real risk of losing your entire shareholding - see the "Liquidity risk" paragraph in section 14. Failing them adequately being able to restructure the loans, they will either hand over the business to the loan holders (shareholders will get nothing) or declare chapter 11 (more likely, again shareholders will get nothing). Given no announcement I'd have to say this is a 50/50 bet.Assuming they can change the loans into some ongoing debt facility or long term debt, then there is the second bet - that iodine price will recover. To be clear, the company has no real prospect of turning cashflow positive without that. The worrying point here is that they acknowledge that "Globally, the largest iodine producer has indicated that they intend to not lose market share". That's what Saudi Arabia said about the oil market and caused the oil price to drop drop drop until the current situation, so you have to worry that even if the Iodine price has stabilised (which they say they see, but they said that almost every report all the way down from $70/kg), that doesn't help much, it needs to grow, not stabilise. So again that's pretty much another 50/50 bet.If both bets went the way of the company, we'd be talking about a company worth somewhere between 50p-100p based on forecast profits (if both bets come good). On that basis the risk adjusted valuation for the company is 75p (average of that range) x 0.5 (bet1) x 0.5 (bet2) = 19p. So that makes it fair value at current price, but very high risk.Still not for me, I continue to watch fascinated.
biotech billy
21 Apr 2016
Share price rise Good to see the phoenix rising from the ashes. Up from 5p and still rising! After a period of over expansion which nearly did for the company, Iofina has been cut to the bare bones i.e. it is primed to make good profits on iodine if the price of this commodity starts rising. The recent RNS was encouraging and the Questor tip has put fuel into the share price. Fingers crossed.
the old trout
15 Apr 2016
Podcast with the CEO You can listen to it here:[link]
Gooffy
13 Apr 2016
Re: EXCELLENT PRO SPECS! You made it go down!Holding while results, guess it needs a breather.
alltold9
12 Apr 2016
EXCELLENT PRO SPECS! With Iodine in demand and relatively small group of suppliers I OF should now reap the benefits and hopefully will see the share head back towards the 50p levels.Looking for 20p+ by week end. LG ALL.
hengeo007
12 Apr 2016
Value play Good to see intrinsic value returning here...................but..............it has been a helluva wait. Iodine is required globally, barriers to entry are high, demand remains strong, commodities generally are on their chins straps, survival of the fittest - and Iofina seem to be making a decent fist of coming through the commodity recession in good shape. A tick up for the management.
biofarmer
12 Apr 2016
Re: Telegraph- Questor Despite a very tough time in the marketplace the management have done a very professional job.
the old trout
12 Apr 2016
Re: Telegraph- Questor I understand that the debt is unsecured too, biofarmer, so Stena haven't got much choice really. This is now a play on a coming supply squeeze in Chile imo, with a number of the iodine producers there in trouble, and it could well mutibag from its lows if that plays out in a cessation of production. And of course there's the prospect of them winning their appeal on the water license.GLA,T
biofarmer
12 Apr 2016
Re: Telegraph- Questor Market is saying they will see out the bottom of the iodine price cycle. The debt is largely held with Stena who are experienced in investing through commodity cycles.
nk1999
12 Apr 2016
Telegraph- Questor "Iofina shares soar 85% in one day: Shares in iodine manufacturer Iofina soared almost 85% higher after production update for the first-half meant management were confident it could hit full-year targets, and that prices for Iodine showed signs of stabilising. The Aim-listed company said output for the first quarter was 124.6 metric tonnes, down 3.3 metric tonnes on the same stage last year, but still on target for between 250 to 270 metric tonnes in the first half. The company extracts iodine by electrolysis from waste brine water that often occurs alongside natural gas fields in the U.S. The company has suffered from the dramatic drop in drilling activity across the U.S. as the oil price tumbles. The price of Iodine also slipped to below $25 per kg during the first quarter, although management said there were signs the price was stabilising, but admitted the evidence is not “definitive”. Iodine is used in LCD displays, cosmetics, X-rays, sanitisers, photography, pharmaceuticals and is also used to treat radiation poisoning. Iofina as endured a tough 12 months with the shares falling 74% to an all-time low last week, and last year production was interrupted by earthquakes. Market consensus is for a loss before tax of about $2 million, from $22 million in revenue when the company reports annual results next month. This is extremely high-risk but a trading buy. Iofina at 9p +4.125p. Questor says “Buy”."
