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don't feel bad, my average is 11.5p and I'm sure there are others with far higher averages. If it were my only holding then I would call it a disaster.. however this stock is only 10% of my portfolio and has been is my worst performing share and yet I still have high expectations from it in the long term. There is a lot to be said for having a balanced portfolio. Despite a lousy year my pf is still at the same level as last year. You cannot win them all but with careful risk management you can win most of them or at least minimise losses. gl
Beware Finn Cap and Singer as their forecasts are not worth a s..t. Look at BTG if you want any proof.
Ouch
consider yourself lucky. I bought in at 9.8p believing the brokers prediction of 32p +. Just over £5k down at the moment.
Bought in at 6.5 and now 5 . will it go down more? Believe it will come back but where is the floor, 1p?
large buy there.
Yes there's plenty of positives lurking in there and a bad day generally doesn't help. Historically we've all seen this one move in a positive direction quite rapidly at times plus as a recovery play,why not go for one with these ingredients.....at least they used to pay a divvy,so somewhere in the mix I'm happier that they might have that thought again....when they recover,fingers crossed and good to hear from you both on an active developing situation.
yea just like the old days… in 6 months time…lol. One big plus I am taking is there have been no further serious issues with furnaces, sales and costs will fluctuate a bit, avoiding any costly issues is key to keeping IFL on track. I really hope the co-gen plant 'fix' is indeed a fix!
Disappointing drop but plenty of recovery potential and good buying opportunity IMO! I note both brokers happy to reiterate their lofty targets today too. Just like the old days on here with you both. Hope things going okay otherwise.
well its a disappointing rns but I can't help but feel that the market reaction is overdone. The rns is not that bad.. whilst production was down (due to maintenance) , the ferrochrome sales were still reasonable and who knows?.. there may still be a profit however marginal. The cost of maintenance and the higher electricity tariffs increased the borrowings and this too was disappointing but this is a short term (seasonal effect) and was compounded by the double-whammy effect of the cogen plant maintenance costs whilst out of action. They really do need to sort this issue out and hopefully by q2 no more problems. Also:- 'FeCr production cost is expected to decrease as the winter electricity tariffs are behind us and the full benefit of UG2 consumption is realised.' So next update should be better right???
Numis and Finncap are reiterating their buy recommendations with large upsides to the current share price. That's OK, but the market does what it's meant to do. Maybe these prices will be hit eventually but for the time being they are hardly credible. On Oct 3rd the Directors bought at 7.1p so it shows a little confidence in the future although the amounts bought were not really significant.
I can see this going even lower! So may negatives, cogen shut down, FeCr price down, sales down and costs up! All taking the prifit down again which will take the SP down. Some of the so called 'buys' at 8.01 will be sells, at that price anyway. I tried to sell at that time and was offered 5.40 waited too long again and sold for less. Happy to be out for now!
Well I lost abit but that's the nature of this risky business! I'll get back into VOG when it's down in the dumps again!
isn't that bad, the co-gen plant has been a massive waste of time and money and I'm worried the new chiller is just another in a line of expensive fixes that doesn't work. You have to admire the strategy of looking at power alternatives as power shortages/tariff hikes continue to be an issue for SA miners but I have to say this scheme hasn't worked out for IFL, of course it may yet prove a success but from an SP point of view its been a constant negative. Not a whole lot has changed here though, costs under control and waiting for improvement in market conditions… could be a while so any investor has to be prepared to wait long-term.
I recently bought at 6.9p for a recovery play, but it seems 1) I tried to catch a falling knife and got a bloody hand (for now) 2) The market will recover in a few years time; so for me it's a long term play. and 3) I've recent had an AIM share take a 70% paper loss only to be in a 16% profit position in less than a year; thats GWMO. So things do change with these companies, in this case the fundamental prospects still look good.
I'm out!
Sadly, I beginning to think that I have invested in a runt of a company.
Had hoped for more encouraging news. Expect sp to drop. Damn !
You in here still Sage? This has got to be the low point of the SP. Got to go up soon, IFM now making a profit!
IFL are operating in a difficult market... seems investors are not yet convinced they can stay in profit.. I believe they have a lot going for them.. they are a low cost producer and that matters a lot Annual report is out today http://ifml.com/~/media/Files/I/Ifml-V2/results-and-presentations/results/ar-2014.pdf Monday we have the next 3 month production update.. that should interesting and could be a price mover.. up hopefully ;-)
An abundance of positive news but still not moving, what's it going to take to get this company heading North.
South Africa's power shortages "Eskom’s Medupi fires up" http://mybroadband.co.za/news/government/112472-eskoms-medupi-fires-up.html "Eskom plugs in utility’s wind farm" http://mybroadband.co.za/news/government/112472-eskoms-medupi-fires-up.html Power shortages will soon be
The next announcement from IFL will be 3 November when they release their Interim Management Statement which includes a Production Report for the three months to 30 September 2014. The share price will move on that, either up or down. Genius!
still at work, when will it stop?
another plunge @5.70 who would have thought?? ... buyers seem spooked by current global markets.. and probably Halloween too ;-)