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This is a really great business but lacks credible people, everyone has heard the story and seen them miss numbers so many times that it needs a new leader to retell the story. Lance has all the skills but has too much baggage and fingers in too many pies to be credible. I think the two large shareholders see the value here and will hopefully demand something more than this lacklustre performance.
The difference between last years EBITDA of $11.5m and guided 2024 EBITDA of $8.5m is just 6 dollars increase in the $/Kg price of iodine. (assuming a mere 500 MT annual production). It was premature to guide on EBITDA for 2024 already in mid April, unless management can accurately forecast iodine prices for the entire rest of the year!
Thanks Henners , they do have a new plant to pay for which has an impact . I don't know what they cost now but the money comes out of the business, however it will start on payback as soon as they have it optimised .
It’s the usual 1 step forward, 2 steps back, IOF could be a great company however the management let it down every time, change is required. I doubt our largest shareholders are impressed with the latest update.
That is my point, it did me a favour, I may have been inclined to add some back having sliced around 36p last May and again around 28p in Feb !
JustChampers - The share price rose yesterday, so any buyers, even if they were aware of the announcement this morning ahead of time, were the wrong side of the barrier. Clearly they were expecting a much more upbeat RNS than we got.
LuckyOrange - apologies. Factual evidence, by RNS dated 25th April 2023 IOF reported EBITDA of $11.5M FOR FULL YEAR 2022. By RNS today they are guiding EBITDA in the range $8.5m to $9m for full year 2024. That represents a fall in EBITDA of between 22% and 26% over 2 years. That is not clever.
While I will give them credit for being up front with this material impact on profitability now, it does mean, that as shareholders we are highly unlikely (under business as usual) to see anything exciting happen here for another couple of years.
I am a long term shareholder and in profit so simply posting an over view of tanya's announcement.
Yes the RNS did contain the expected positive soundbites, but a deeper delve into comparisons is not that promising for the next 12 months.
All profits get reinvested. Nothing for shareholders. It's the way with this company. Trouble is they don't do a great job given that every RNS says what a great time they are having.
Seems to be one step forward one step back all the time.
About 5% up on my first investment, many years ago.
Annoyed that some obviously knew of an announcement yesterday, yes it's down at the moment today, but only back to where we were on Friday !
Always best to post your evidence for that , from what I can see they are gaining traction throughout , maybe your are referring re-negotiation of the leases , but securing more brine will more than cover that.
Today’s RNS operational update is in fact a profit warning. Always “jam tomorrow” with IOF
It's a good company throwing off production and cash , doing the best its ever done with a 20% upgrade when the new plant is on line in early summer , what do you expect! ;-)
And down we go…….
Technical bullish reversal on trend and upcoming earnings end of the month. Be a quick move up towards earnings date and expecting good numbers
>10% up: Q1 updates usually land this week of the year it seems, generally followed by a lift in SP for a while. Looks like buys have started early this year.
Hopefully a stonking Q1 update in the morning, production of 150 tons plus, Iodine at or near 70 dollars and a takeover approach to boot, followed by an increase of 50% in the share price, we can only dream!!!!
Mr lofer - although sp movement has been pedestrian at best (smiley face), I do not concur with your assessment of Baller. He has been adding to his shareholding at higher prices than we are today, and Premier Miton Group would not have recently hoovered up 5% of all shares in issue if they thought Baller was a chancer. Very slow burn yes, corrupt I do not believe so.
all those posting on the advfn bb are in total agreement that baller needs to go, he somehow walks on water despite a track record that is bottom decile. he purports to chair the company but clearly runs it, i cannot work out his agenda but suspect he has a plan that makes him money at shareholders expense. our only hope is that the two large shareholders see through his baller**** and get rid of him
allimo dyor
But do wonder if Ploen has finished selling all of his , not enough volume to clear them maybe?
6. SHARES IN ISSUE
As at 31 December 2023, Iofina had in issue 191,858,408 ordinary shares of 1 pence each in the Company (“Ordinary Shares”). No shares are held in treasury. The figure of 191,858,408 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA’s Disclosure Guidance and Transparency Rules. In so far as the Company is aware, the percentage of Ordinary Shares not in public hands as at 31 December 2023 was 22.1%
7. MAJOR SHAREHOLDING
The Company is aware of the following shareholders holding 3% or more of the issued share capital of the Company as at 31 December 2023 adjusted for TR-1 notifications through 31 December 2023:
Shareholder Percentage
Richard Sneller 19.07%
Hargreaves Lansdown, stockbrokers (EO) 12.86%
Interactive Investor (EO) 12.10%
David & Monique Newlands 8.11%
Premier Miton Investors 6.40%
Barclays Smart Investor (EO) 3.93%
AJ Bell, stockbrokers (EO) 3.18%
Directors 3.05%
Https://find-and-update.company-information.service.gov.uk/company/13294725/officers their next venture , scroll down to see their names.
Must admit I was hopeful when they got Chrystal Capital on board but seems to have lost any momentum it may have had. This was June 2022, needs to be some ass kicking as well to gee them up !
https://iofina.com/appointment-of-chrystal-capital-partners-llp-as-strategic-financial-advisor/
The poor support from the uk is because baller is still in charge, he dominates the boardroom and has been in the job too long. A new uk based chairman and a renewed / refreshed marketing campaign ( sack yellow sweater as they have been there too long also) . Small cos need to work really hard at getting new investors so they need someone promoting the co in the uk at all the small company events ie mello
I think Ploen sold to put money into the next Baller enterprise , selling fraccing sand to the oilies . If you check out Jeffs name on companies house you will see that he has already taken an interest in it.
Don't understand why Tom has not insisted on the 'loan' being paid back 1 million (dollars or pounds .. I have forgotten? ).
That said , the company is earning plenty , selling what they produce but still needs to get into another gear to promote the company otherwise it will be eyed over by predators who will dive in , keep the best bit and asset strip what they don't want. It's a chemical company and should be doing really well on the growth side , full integration helps with the iodine , poor support from the UK but if it was US company it would have been flying much higher and better supported this past couple of years.