Sapan Gai, CCO at Sovereign Metals, discusses their superior graphite test results. Watch the video here.
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Been here since 2009 and it's been going South ever since. Surely at these prices it must be a takeover target especially as they can produce SS at lower costs than China now.
Agreed, although it's in the context of a difficult global market.
same excuses made again and again, year after year whilst they continue to be paid. Why, why did I ever have faith in this lot.
Looks like IFL are running a bit close to funding limit for the next 6 months, not great they have to hold the co-gen upgrades to conserve cash. Good to see mining on track.
...and another poor quarter...still doing the blaming game...and they are still earning their circa R20m salaries a year... " Co-generation plant modifications postponed due to capital expenditure rationing"...in other words...we as a management team can't forecast and are too incompetent to get additional debt facilities in place accordingly...and please don't ask us to calculate the opportunity cost due to our incompetency...because we don't know what that word means...two months ago they said that this was on track to be sorted out in April and now another excuse...and then the audacity "The Company is currently assessing appropriate and prudent financing options which will protect and enhance shareholder returns" ... what is he talking about...they have an awesome track record of destroying shareholder value- look at the last 12 months alone... the share price is circa 1.5% of what it was in 2007..it time to get rid of these clowns...
Another seismic change is happening in the iron ore market: I've copied just a few headlines from today and a few days ago to show what's happening, and more will follow. Although IFL is affected, it should prevail once prices stabilise. India's Push to Resume Iron-Ore Mining Stymied Odisha iron ore output tumbles 40% in 2014-15 Iron ore producers face Standard and Poor's downgrade following ... Iron ore rallies on China inventory fall Citigroup predicts iron ore to fall below $US40 on supply, demand ... Work suspended at another iron ore mine – Atlas Iron ore crash battering BlueScope in NZ
I don't think the company will go bust because it's a low cost producer. Whilst the market for ferrochrome is in a bear trend the share price will go nowhere. Also if China supports their producers, that too will distort the market against IFL. PS: I also bought on an analyst's forecast after he appeared on IG TV.. It's my rookie mistake but next time I will do more research and make my own decisions.
Going no ware but down. Damn my belief in Numis Securities, that resulted in my average of 9.8p I suspect I will be here for may years or company going bust. GLA
AL75, it looks like only you and me on this BBM, but we will need a few more days like this to get back to where we were! Have a good weekend.
Good rise in the Ask price today but why has the bid price not changed? Spread is now gaping 14.26%.
AL75, In my personal opinion this company has turned a corner and we all should see some improvement over the next 6 to 12 months, I've been in this one too long and have seen a miserable decline. I hope that this is now at the bottom with the only way up. They have worked hard to reduce costs and improve profitability and sadly forces outside of their control have conspired against them, hopefully they will continue to work towards good profit later this year.
SP Angel (broker to IFL) has produced a positive report on their trading outlook. Any house broker report should be taken with a large pinch of salt, and the market has marked the shares down despite the improved prospects. GLA http://www.proactiveinvestors.co.uk/columns/sp-angel/18019/todays-market-view-including-international-ferro-metals-gem-diamonds-diamondcorp-and-antofagasta-18019.html
12 rand to the US$ now, surely there's a profit to be made soon.
Will take a long time to recover and is moving down to its all time low of 2.66. Flag pattern since 30th January has failed.
Thanks for posting the video. Seems like they had too many one off events and need to manage risk better. Chris said, he was "not commenting on profitability". That's not a good statement to make, and he could have answered it better.
Another report of production down, sales down and costs reducing. Again and again we are assured things will get better. Why did I ever have faith in this lot?
Poor results means this share will remain firmly in the doldrums. This share is a persistent ugly duckling fighting against some strong fundamental issues e.g. debt, South African, power supply, currency changes...
Good luck all on Tuesday. Hopefully, we will see another 38%+ day.
A flag and pennant has formed in the past few days. Bullish.
I believe I have posted something like this before, ‘’perhaps a new trading range is being established’’ The SP increase after the trading statement last week seems to be holding, but I fear that any significant gains are going to be much longer term. I hold quite a few of these, my last buy was 100k @ 6.15p, may add some more for the longer term. At some stage raw materials will be ‘flavour of the month’ again and when that happens IFL are in a good position to benefit. Some exploration companies are worth nearly as much, at least IFL are making money. GLA.
IFL has broken it's 50 day MA, but it needs to break above 6.7p before it goes beyond the 200 day MA. The it should be lift off.
30-Jan-15 Numis Securities Buy Reiteration 25p (if only)
It's 15:25 and the shares are being traded again. Still rising, up 38% now.
Because of the significant rise, I was told by Hargreaves Lansdown that the shares are being auctioned at 15:24 and the I couldn't trade just now. Apparently this is done to stabilise the price because of today's price action.