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Not sure cheeky101 but they'll be out by beginning of next week and should read well. Hubs, reckon you're being optimistic about I010 coming online in 'a few weeks' time' - more likely a few months imo. That said, there's a lot to look forward to here with the spot prices holding firm and, potentially, a storming H2 production rate leading to a record '24 final number - assuming the rollout/plant commissioning goes to plan, of course! I paid in the 30s to max out my ISA in this share last year and never expected to be down here again for the latest new ISA allowance. Despite myself, as well as the portfolio being overweight in IOF, just couldn't resist adding a few more at circa 20p. Now just going to sit back and hopefully reap the rewards... famous last words!!
Morning All,
Does anyone know if Iofina has officially set a date for the announcement of the 2023 final results?
Stargate, there are actually two other crucial indicators that are very bullish here at moment,yes RSi is a yard stick but only if aligned with other key metrics and indicators. IOF is in a great position for buyers at moment with IO#10 coming online in a few wees time and very high spot prices. Is poised for a nice move up.
Before end of 2024 i would be suprised if this is under 32p
Mishap with text. The RSI, positive divergence of six months, suggests a price target of 27-30. However there is expected price resistance from overhead supply from previous trading at 22, so buy if the sp can close above 22. Weak buy at present until sp, closes above 22. Underlying sector is strong and bullish. DYOR.
RSI(relative strength index), positive divergence with mid october 2023 price trough. The described trough, 6 month
Five, i would expect much new business in that area for sure,and with the higher steady spot prices and increases to come shortly from IO#10 and then IO#11 the figures will start to look very good indeed.Potential for maiden dividend here also in my view.Iofina will soon be entering their strongest ever period and it should be sustained from here,all the ducks lining up so to speak.That is why i am a buyer .
Have just seen some interesting chat over on Ad.V.fn in ref to the CEO comments about europe,it seems there is some potential huge deals to be had in Germany and with wider eurozone.Possible that Tom has already got some tasty deals in the offing otherwise why mention in video.He never normally gives anything away that is for sure so i am intrigued about this potential huge new revenue stream.
Chill, good point about the 10% increase in spot prices,i did allude to that in my comments but not specific,i will leave the more detailed in depth stuff to my subscribers when i do a write up during the week.But i do see some real good numbers here going forward with IO#10 included and leading up to IO#11 on these spot prices.The CEO also stated (which caught my attention) that they are forging new relationships in Europe which given the current Geo Political situation could be very valuable indeed to the profit ratio going forward.So actually i see the timings now being fantastic for Iofina on all those fronts,and luckily trading at a low ahead of a major growth phase :-)
Worth noting from the Canaccord note that the $8.5m EDITDA figure is based on $60/kg. Current price is approx. $66 and according to SQM (who are really the price setters) have said they expect stable prices this year.
Actually i have just scanned through the latest guidance and statements and seen the CEO comments in the video, i had previously overlooked this company before but i think now with IO#10 coming onstream in a few weeks time and the re-negotiation with suppliers etc ,this is a very decent opportunity at last. Is not going to multi-bag but it looks a solid company to have in the portfolio for sustained growth from here.
I actually like the fact they did not go down the path of over-leverage and huge debt piles to grow quicker and the associated share dilution involved. The way they have grown at a realistic rate without the need to borrow huge sums should be applauded,and i think that policy is now going to bare fruit .Looking at the projections for the second half this year with IO#10 included i think the share is looking far too cheap at present.It would not suprise me to see this make steady gains into the 32p - 38p area before the end of this year ( factor in the pending IO#11 ) . So is all about timing,and the timing of this next growth phase alongside steady spot prices should provide for some very good numbers from here.
Also a chance that they might become a Bid Target at some point,there a number of suitors that would see Iofina as a decent Aquisition in my opinion. I could well be tempted to build a sizable stake here.
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…….