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Now the engineered drop (probably over a few months) by the mm's has filled Mitons boots I expect it will re-rate here unless there is another buyer in the queue.
Fortunately the likes of Miton will give iofina more pr than those actually paid to promote the company , wonder when SQM will buy some shares ?
You might be giving LB more credit than he deserves. I think they are setting it up to over achieve, maybe.
The only obvious question is why would you let your broker who you pay put a lower iodine price in their model than you are confidently predicting . Baller understands the city and knows this would not go down well ? Motive? All imo dyor
There will be an interview but when you have calmed down why don't you request a telephone conversation with Tom and ask those questions ?
Yes , Lance Baller should pay that money back and Tom has made it obvious that it irks him too .
no it was a **** update, where is next years growth? eps down 24 on 23 . baller is a complete muppet and is responsible for nearly all the errors this company has made over the years.. i only hope the two largest investors will force him out.
Looks like someone desperate to get out which is usually the best time to buy.
Selling been going on for a while and do wonder if it's Jeff or Lance pulling out money for the new venture or maybe Banksy still playing games in a vindictive way .
There will come a point when the selling ends and iof moves up towards 50p as it progresses .
Moved back into my top up range again, which is nice. Update looks ok, more or less as expected really. Don't understand the drop, but I'm happy! GLA
Looks a good update to me ,breaking ground at io10 and io11 in the planning stage " sales of a key product mainly used in the semiconductor industry improved significantly in the second half of the year after a slower-than-anticipated first half."
"Encouraging progress has also been made regarding construction plans for IO#10 plant, with groundwork at the site scheduled to commence this week. The Company expects IO#10 iodine production to commence in Q3 2024 and will update on progress as appropriate.
Negotiations continue to progress well with both current and potential new brine supply partners for IO#11, and the Company continues to explore options in its current core area and other new areas for our next iodine production facilities.
In terms of new products, Iofina Chemical will be adding to its iodine derivatives product range in H1 2024, including an existing product in the market for which there is strong demand. The Company also expects to increase sales of its crystalline iodine to customers in Europe in 2024 through existing and new relationships."
I'm not going to post all of the positives up here they are in the RNS .
Not a fantastic update but every year is growth
what a **** update , everything is half full and leaves so many unanswered questions. lance needs to go !
Comment below I posted on ADVFN. 2nd largest producer Cosayach had the extension of a large mine rejected earlier this week…
A little more digging on the Cosayach Negreiros mine.
At best production will start to tail off next year. I think it currently produces around 2000t a year so over 5% of world production.
The article below confirms they will have to start laying people off in the coming months.
This is the 3rd time in 3 years the application has been rejected. They can appeal and resubmit but you would think it will take at least another 6 months to reverse any decision.
You would think in current situation Cosayach will hold back some iodine sales to create a buffer in case they lose 1/3rd of their production next year.
Spot iodine price fell around 9% from its peak but has rallied 2% in last few days.
I think this is very significant news and could well keep the Iodine price higher for longer.
“However, it again suffered the anticipated term of its processing, again due to the consideration of the authority that there was a lack of essential information to evaluate the possible impacts of the activities, for example, on human groups belonging to indigenous peoples indicated in the area of influence. In a statement issued this Wednesday by Cosayach, the mining company lamented "the decision of the government authority that recommends rejecting" its initiative, and expressed its concern that "an administrative decision jeopardises the employment of more than a thousand workers." In it, they affirm that during the following months, the Negreiros task "will exhaust the mine area authorised environmentally for the extraction of caliche so operations will cease and contracted personnel must be demobilised."
Company expects second-half production at the bottom, or very marginally below the bottom end of the forecast range of 325-350 MT from its six iodine plants.
Dividend? You'll be lucky. They spend all their cash on new plants and decommissioning old ones.
That to me is the more likely reason for the fall in share price - an anticipated pull back in the iodine price which has been surging in the recent past.
FastMarkets try and track it but mainly you have to follow what SQM say.
Price is in late 60’s and fairly stable although most analysts expect it to average $60 for 2024.
I don't follow? The iodine price is still robust, the new plant is online albeit ramping up slower than anticipated and the next new plant is committed. I don't see any reason for such a dramatic fall unless you can read something into this I can't see?
Does anyone have a link to up to date iodine pricing?
Oh well, same old Iofina, things never seem to run consistently smoothly, but I'm still positive medium to longer term and will be adding again on weakness having sliced earlier in the year around the years highs.
Quarter's result out. Now we know why the sp has lost 20% odd over the last few weeks. I hope IO09 is not as leaky as the boardroom.
Not sure it matters much, as according to the last interview Tom has little interest in the share price, or rather feels it is out of his control. He could be right, this is a buy and hold for a couple of years, then a nice dividend?
Is the iodine price falling, causing the sell off?