George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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We need news on IO9 soon, certainly before the autumn
I've seen articles online suggesting prices have hit $80-$95.00/kg over recent weeks. Small daily rises are absolutely fine, keeps the pump and dump merchants away.
Let’s hope for sooner with a bit of momentum and not just fundamentals
£ 1.00 within 24 months.
Still looks very cheap to me. With Iodine at $70/kg and global demand rising we should be closer to 50p, and to £1 with a couple more plants in the right locations. No reason to sell anything for quite a while yet.
If it can hit 30p by the end of the week a lot of holders whom bought in late 2019/early 2020 should be at break even.
Would expect this to sit in 30p bracket ,while bods decide whether to stay or go.
I09 surely must be sorted by now as the waits getting silly.
Cheers
Apologies, previous post in error!
They have made a balls up of the placing, many brokers don’t/won’t work with Turner Pope therefore existing holders who want shares are being forced to buy on the open market, another own goal.
The BoD are starting to look inept!!
I do t think they are starting the buy back, my understanding is that they just wanted the option to be able to do so should the need arise
Point well made, however, I’ve been in this since 2012 and built up a good position that’s now at B/E. I do have faith as I’ve had several email chains with Tom over the last 18 months. Nothing out of the ordinary in the replies, but the reports from the AGM have given me good reason to hope for a brighter future
I could be wrong but I think it has to go through the high courts of justice to be approved. They will buy back over time, usually several times a week depending on the volumes. However, with stock very tight I think they'll have a job buying back in size so it could be a slow process.
Would I be right is assuming this will drop by 19M when IOF complete the share buy back?
Has this started or do they do this in one hit?
I'd reserve your faith in the BoD until the bring IO9 in and have it up and running before the end of the year as promised. The don't have the best record on delivering unfortunately.
We need news on IO9 - once that comes we should move up again. Given the recent changes the company has made and after reports from the AGM I’m staying in all the way. Have more confidence in the management now
Onwards & Upwards
Been a long time coming.
Cheers
https://twitter.com/Share_Talk/status/1540645061083467779?s=20&t=-zQwRkVy1IwE7N7I2COwpA
Iofina shares, which are specialists in the exploration, production and distribution of iodine and a manufacturer of speciality chemicals products, were 14% higher this week.
https://www.share-talk.com/share-talk-weekly-small-cap-movers-shakers-saturday-25th-june-2022/
Looks like there are going to be more buyers than sellers over the short term, hopefully late twenty's by the end of next week, then hopefully some positive news on he new plant along with some good production figures and up up she goes
AIMHO
I see fair value some way above here. The potential share buy back is likely to drive us there. About time too.
Great analogy, iodine shortage, iodide price continues to rise, strong fracking outlook, imminent new iodine plants, new and expanding uses for iodine, strong chemical sales, fully funded, low debt, proficient management. Anything else?
The planet "Iofina" moves into alignment after 18 years (feels like it).
https://www.bbc.co.uk/news/science-environment-61910977
Buy-backs
No guarantee that they will buy back any shares, but nice to know the option is there. I personally believe this SP is really undervalued at <30p so would like to see the company hoovering up at current prices.
There is a school of thought that the buy-back started almost immediately following approval at the AGM on Wednesday, as there have been several large, round trades going through since then at mid-price, so not showing as a buy or a sell. Most companies report buy-backs the following day regardless of volume, rather than when exceeding specific levels, so I think it's unlikely they've started buying yet.
More likely Richard Sneller still working his way towards 20%, or another II or HNWI building a stake under the radar.
Either way, there is so much to be positive about with IOF right now, I'm quite comfy having them make up a big chunk of my ISA.
All IMO so DYOR ;)
That's a lot of shares to buy in a thin market, in a share that isn't very liquid.
The share buy back is good to hear.
Approved up to 19,185,841 shares to be purchased.
It says in yesterdays RNS
" all resolutions put to the meeting, were duly passed.
The full text of the resolutions considered at the AGM are contained in the Notice of AGM which is available on the Company's website at www.iofina.com .