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Iofina plc, manufacturers of specialty chemical products and specialists in the exploration and production of iodine, today announces that its 2022 Annual General Meeting ('AGM') will take place on 22 June 2022 at 10:00 a.m. at the offices of finnCap, One Bartholomew Close, London EC1A 7BL.
drice and Ecclescake, agree w/ your views. The issue with IOF in the last few years was the level of gross debt it carried. This prevented it from enaging in expansion plans during the downturn, so as to be ready to profit then the tide turned. (Although it made some profit from selling its inventory at high prices) Another problem is that even though CF from operations can be quite healthy, it has to invest about $2-3M in a new facility every year (real depreciation of facilities is quite fast). This limits FCF generation. Thus, it is important to get the location right everty single time they build a new one. Yet, I expect Mcap to reach $100M if the current prices continue.
Interesting thinking drice, I think the there needs some new thinking at the top, we've seen some poor decision and execution in recent years. I suspect change is coming.
AB might have decided to move on because of Snellers holding.
There are clearly just two people that run Iofina – Becker and Lewin. I think that Becker is extremely knowledgeable on the chemical side - the markets, the products, the demand etc. and is a very key figure in the company and its future. Lewin is a numbers man. He has clearly helped the company steer safely through a very difficult period and he deserves full credit for that. However, I believe that he is the individual that he is now holding back the company and its expansion plans. I think he is ultra-cautious and will not sanction any of the new site proposals etc that we have been promised for well over 6 months. He is 70 years old and he has served his time but continues to draw £200k pa for what cannot now be a difficult job for him. He may well even work from home in the UK. Accountancy is a young man’s game and he should now hang up his boots. We need some dynamism now in the company. The company will do well despite his ultra-caution because of the rocketing iodine price. Sneller and Newlands who cooperate on many ventures now own more than 25% between them. I think they can see the lie of the land. They can see a good company that is being held back and will use their influence to persuade him to retire and pay him off him though they will need another 25% support at a General Meeting to vote him off if he will not go gracefully. We will see but I can see something coming along these lines.
Nothing new in the presentation (boring).
I09 nearly at the finish line, but has took far to long to even get the first stage of construction going, late autumn looks likely.
I10 Could hopefully follows rapidly after.
Iodine prices though are still going to keep the cash flowing in for 2022/23.
Cheers
Sneller up to 17,6%
While ' I've got plans for Iofina ' Mr Banks has cut his holding.
Probably a good thing he's out of the way.
Whoa 17.6% for Sneller. Bring on the buy backs.
If H1 revenue is anywhere near to $25m, then I expect the final 3m of debt to have been cleared.
At $50/60kg iodine since Jan 2022 this looks extremely likely.
Cheers
Looking forward to the Investor meet presentation tomorrow.
Have a couple of questions to ask, one being why such the long delay in startup of I09?
Also hope they will give some indication on revenue expected for H1.
I wonder what Mr Banks is up to?
He sold stock last time round but claimed to have plans for IOF on his Twitter feed.
There's also the Investor Meet Company meeting on 27th May at 2pm which should be worth a watch.
That 1.15 million shares is the largest single transaction I have seen pass through IOF. And I have been a shareholder for probably far too long!! Activity behind the scenes.
Another large print this morning 1.15Million @ 21.5
Things are hotting up here.
Whoa, 16.9%. At what point will Sneller feel he has enough IOF shares? I only know a little about him, but see him as wanting an investment rather than activism or a take over. He must really see potential here either way.
Looks like I was right. I don't think AB will be in any hurry to report his sale.
Looks to me as though the schizo AB has sold the remaining 3% balance of the stake that he only recently bought and that the canny Sneller has snaffled it up. We should find out in the next day or two.
‘The iodine market is going through another month of tight supply, leaving some buyers desperate for material. Prices for iodine on the spot and contract markets continued to rise in late April and in the first half of May, with demand continuing to outpace supply’ (according to Fastmarkets latest report).
The continued iodine shortage and continued price rises should be very good news for Iofina though its share price continues to languish as though there hadn’t been any iodine price increase at all over the past year. At least Sneller can see a good opportunity even if it should be plain as a pikestaff to everyone.
I can not recall how I got notion to buy this share , not tipped anywhere I usual look .
the video looks great, My Birthday today maybe a present from Jesus .
https://www.proactiveinvestors.co.uk/companies/news/981756/iofina-plc-on-the-company-s-record-2021-performance-981756.html
In at 19p....3.10pm.
( thanks for telling me wrong board , what is the other one about )
Mr P
If you take a look at the broader market, it 's getting smashed in. FTSE100 down 2% , Futures flat and more than a little fear creeping in.
That's why Iofina has come off after the initial mark-up this morning.
Risk off.
Hold on, share price down not people clearly expecting more like definite progress on IO9 perhaps.
I am a big fan of buy backs for small caps. 15M shares would be 7.5% of the total shares, considering there are only 30% of shares not in large hands, that would make quite a difference to the SP, would also set the scene for better returns to shareholders in coming years. If large holders didn't sell, the buy back would be 25% of the remaining shares not held by significant holders.
Like I have said before, IOF is performing very well based on every metric and is substantially under-valued. The one really important point I picked out from their report is that they achieved their 31% revenue increase was based almost entirely on increased sales volume (only +3% ave price increase). We are now over 4 months into the current year and we know that average iodine prices are well over +50% the average for 2021 so if IOF can increase their volume too with an additional IO9 very soon and an IO10 in due course then what a fantastic 2022 we have ahead of us.
Should erase the debt this year as well the way they are going
Agreed.
Well-detailed summary with the right numbers. Plus, the proposed share buyback in the market is a huge positive.