II Editor
11 Apr 2016
NEW ARTICLE: How Iofina surged by 150% "LSE:IOF:Iofina has had its problems. The company strips the iodine out of brine - a byproduct of oil and gas production - before energy companies get rid of it, but iodine prices have been on the slide, and an earthquake in Oklahoma last year, ..."[link]
Gooffy
11 Apr 2016
Re: 100% increase from yesterday Not sure where you get to 20p in a day its taking a breather now."I am pleased by our response to the challenges faced in 2016. Iofina produced more iodine from its Oklahoma operations at a significantly lower cost than the same period in 2015 and is on target to reach H1 production goals.I think result are out soon, it was EBITA positve on last set so hopefully the significant reduction has had an impact despite the lower iodine price. I see Isorb 1 might be used somewhere else and they see significant opportunities at current prices.If it's making a profit it should be adding to cash if there is no expenditure.Views welcome, made a small amount so far thinking I will hold for results.
barno99
11 Apr 2016
Re: 100% increase from yesterday Should easily see 20p today. They've hit the target and the prices for iodine is rising again.50p target short term from here
alltold9
11 Apr 2016
WOW!! Back to the good old days!!
Gooffy
11 Apr 2016
100% increase from yesterday No comments here!Perhaps it was the Brine supply worries that drove it down now that seems to have disappeared with this RNS is probably the reason.Any views welcome, they were profitable on last result so assume that includes debt interest, sounds like they might be making a bit more now, pity no numbers to crunch, sounds like they are thinking of expanding so that is very positive.
Gooffy
11 Apr 2016
Eh up In profit on Iofina, well I never.Looks a good update to me.Just need the iodine price to turn looks like it's bottomed now, demand was forecast to increase year on year.Market likes it
Gooffy
16 Mar 2016
Taken a small stake Sold out a while back.This was 225 at one stage and tipped to go higher.Loan is May 2017 seems to have found a floor.Could be wrong but worth a punt as Iodine demand was set to grow.
pharmajiles
18 Jan 2016
Re: any value here? Only if you like seeing cash go up in smoke
CASTLEFORD TIGER
18 Jan 2016
any value here? tiger
II Editor
24 Nov 2015
NEW ARTICLE: Trends and Targets for 25/11/2015 "IOFINA PLCÂ (LSE:IOF) mentioned on the front page of Interactive, deserves a glance as the share price stinks. What really bothers us is, we'd warned previously of an 'ultimate bottom' against this at 40p and the share spent 2014 poncing ..."[link]
pharmajiles
24 Nov 2015
September postÂ…Â….. 'It will then have another large fall to come……….tread carefully here !'---------- ---------- ---------- ---------- ---------- ---------- --Indeed it did……….
II Editor
23 Nov 2015
NEW ARTICLE: Iofina collapses to new low "There have been quite a few spectacular share price crashes in recent years. Miners and energy companies hog most of the top spots, but others like LSE:IOF:Iofina feature heavily, too. The firm strips the iodine out of the saltwater - a byproduct ..."[link]
Tentative Predator
29 Sep 2015
Re: half year results The loans aren't facilities, they're convertible bonds, well underwater so won't be converted. The bondholders could agree to refinance - it's up to them, but that's still a refinance. I suspect they have asset backed bonds, so it might be in their interest to not refinance - and get the company assets instead, it all depends on how string the company's position is in. So if you are running IOF, you need alternate refinancing options, once you have that, you can negotiate.
Gooffy
29 Sep 2015
Re: half year results Thanks for the post the only one following the results.I think there is a good chance the iodine prices will recover over the next year, I thought I had seen a note to say it had gone up for a change.Competitors might buy it out when they realise its not going bust and they can get it on the cheap.Further production to be done though not clear how they finance that but assuming its covered in your cashflow that should enhance cash earnings.Why can't they just rollower the facilities if they are profitable and expanding
Tentative Predator
29 Sep 2015
half year results This is interesting (still needs refinancing but the numbers are looking better).$7m opening cash position (closing cash $4.8m, diff -$2.2m)+$1.8m operating cash profit (ie gp after removing non-cash items: $2.9m stated gp, +1.1m D+A, +0.2m discount unwinding, -3.1m stock increase, -0.2m cash not yet received, +0.9m cash deducted from profit but not yet paid out)-$2.6m admin-$0.7m interest paid-$0.7m capex=$4.8m closing cashOn the surface not great (numbers are worse than my last fy forecast here [link] )BUT! They're implying that the $3.1m increase in inventory will produce $2.2m or more cash profits (ie after costs) when they sell it (the industry needs chunkloads delivered, hence their insistence that they need to build inventory so that they can sell decent sized chunks).On that basis, the fy cashflow would imply+$8m operating profit-$5.2m admin costs-$1.5m interest costs-$1.4m capexwhich is nearly break-even on a fy cashflow basis.I don't believe they'll keep capex below $2m, and I doubt they'll get the full implied $4.4m from inventory this year, but even so I'm thinking now that fy cash drop will be under $1m, ie they could reasonably end the year on $6m cash, with a good prospect that next year (2016) they'll actually be cashflow break-even or even cashflow positive.If there was no debt, this would now be undervalued. With the debt, they have to refinance (there's no way they can pay $20m in 2017 on current figures). But with $6m in the bank and cashflow positive (just) that implies they're highly likely to be able to do an equity placement (worst case) - and even raising new loans would actually be possible now rather than unlikely which was my last opinion.So the big problem is, with no refinancing news less than 1.5 years from the debt due date (the report is dated end sep and there were no post 30 June balance sheet events), and share price at 18.5p as I write, I'd have to assume a heavily diluting rights issue (they need something like a 1 for 2 now but it will get worse as the sp drops), which is going to depress the share price even more than now.So, I'd say wait for the dilution, then buy. That would imply a sell now, but if you're heavily into a loss on your holding you might want to hold rather than miss out in case they get it right and manage to just refinance the loans long term with no dilution.At least it no longer looks like it'll end up getting taken over with nothing coming to the shareholders.Good luck to you holders.
