Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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Re: good growth RNS. A grossly undervalued share price for sure now given around GBP8m free cash on Balance Sheet.
Thank you AJP. Fingers crossed SAP revenue is coming online (and did JS say that BIO*Asterix may start to generate revenue in 2024 at the earliest?)
HI DFV
Apologies another 80 Metric Tonnes arrived not 40
ATB
AJP
Hi DFV
Looks like we have taken delivery of a further 40 Metric Tonnes of Raw materials via Chemtan.
I will update form the main site I use when the information becomes available, they are possibly a day or so behind this update, but a link showing initial information, supplied below.
https://en.nbd.ltd/customs-data?t=0&v=Itaconic%20acid
09/02/2024 UULNQD23120454 Chemtan 39600 40PKG
15/02/2024 UULNQD24010550 Chemtan 39600 40PKG
18/02/2024 Chemtan 39600 40PKG
21/02/2024 Chemtan 39600 40PKG
That would make circa 160 Metric Tonnes this month.
PDYOR
AIMHO
ATB
AJP
i refuse to top up anymore in the absence of regular trading updates. we should have had fy 2023 weeks ago. i’m that ****ed off that i’m thinking about selling out of itaconix and regular readers here will know i have always been a strong supporter of the company. we are in a bull market but itaconix has not seen any share price growth. that is extremely worrying and there are 1001 other tech opportunities out there. let’s see if anything comes next week.
Thanks AJP I appreciate the response and I'm now aligned with your conclusions too. Another positive sign, but we've sure had plenty in the past 12-18 months yet the SP has plummeted - let's hope this converts into high volume GPM sales and for a sharp correction soon. I never throught we'd be back at 2.6p old money with the company having gone from strength to strength in recent years. I'll look to top up again over the next month or so to continue averaging down.
Hi DB
Hope all is good? I am pretty confident that the information is correct, this is taken from a very reputable site, and the Bill of Laden references/documentation all form part of the legal requirement of the import process into the USA (these companies charge for deeper access, so it is not a game to them, this is their business).
It only give an indication as to increased production, but points to ITX moving at a pace now.
As an aside did see this and wondered what positives this may have for ITX
China's groundbreaking move towards ESG disclosure for global supply chains
https://www.lrqa.com/en-gb/insights/articles/china-esg-disclosure-requirements/
ATB
AJP
If those numbers and assumptions are right AJP, last year was 35T per qtr average. 80T so far in 2024 and the qtr isn’t over yet.
I hope the growth is accelerating, it’s been a longer time (than expected) coming.It would be really great to pass breakeven with a bang this year. Come on team Itaconix!
Hi E
You are totally correct as regards that all we can determine is that the quantities of raw material being purchased is increasing, prior to 2022 we purchased less than 20/30 Tonnes a years. We can only see the trend, we do not know what the split is as regards High GPM ingredients and the Lower GPM composites, but an indication of continued progress?
In 2022 we purchased circa 120 Tonnes
In 2023 we purchased circa 140 Tones
Already in 2024 we have purchased circa 80 Tonnes
ATB
AJP
This is why John wanted investors to not look at these to prevent people covertly figuring out ITX growth/future performance revenue numbers before being announced
It is possible to predict revenues from deliveries in principle but there could be fluctuations in stock level to mitigate risks for transportation and supply. Its a good idea to follow the medium term trends in supply as they must correlate and inform future orders/revenues and profits...
Hi DFV
This is from the 6th of June final results presentation, you can see where he is trying to sidestep the question.
https://www.investormeetcompany.com/meetings/final-results-61
40 minutes and 20 seconds into the presentation
ATB
AJP
Hi DFV
I will dig out the link, but as far as I remember, the amounts of Itaconic Acid that we are buying in are such that we did not have the space to store it onsite and we must have a relationship with Chemtan where we can store at their facility, guess there may be a minimal fee involved, the quantities being stored at Chemtan as far as I am aware is for overall production of ingredients across the board and not just the lower margin ingredients.
I know that John was trying to dissuade us from tracking imports, but think that this was just him trying to keep that large quantities now being purchased under the radar? (the usual understated stance)
Circa 340 Tonnes in the last 2 years !!!!
If anyone else has knowledge, then please jump in.
ATB
AJP
If this is via Chemtan I believe it's related to the low margin Forulation Solutions offering (I believe that was the term ITX and John used for this revenue stream)? He warned not to get too excited when reading into import volumes as I remember from a webinar last year
Hi
Looks like we have just recently taken delivery of circa 80 tonnes of raw materials via Chemtan, as we use them as an offsite storage facility, as per info supplied by John.
https://www.importgenius.com/importers/chemtan-company-inc
1 UULNQD24010550 ITACONIC ACID, 99.5MIN. CAS NO. 97-65-4 H.S. N STAMPED 20 PALLETS. TOTAL 20 PALLETS2 . CHEMTAN CO. INC. QINGDAO KEHAI BIOCHEMISTRY CO.,LTD 2024-02-15 CHINA 39600 KGS 40 PKG
2 UULNQD23120454 ITACONIC ACID, 99.5MIN. CAS NO. 97-65-4 H.S. N STAMPED 20 PALLETS. TOTAL 20 PALLETS2 . CHEMTAN CO.INC. QINGDAO KEHAI BIOCHEMISTRY CO.,LTD 2024-02-09 PORTUGAL 39600 KGS
Busy, busy, busy
Previous purchases over that last 2 years below
Chemtan for Itaconix
1 TXSLQD2305Y361 ITACONIC ACID, 99.5%MIN. CAS NO. 97-65-4 H.S.CODE: 9902.02.95 1000KG SUPER SACKS WRAPPED ON STAMPED PALLETS. TOTAL: 60 PALLETS CHEMTAN CO. INC. (FOR ITACONIX CORP QINGDAO KEHAI BIOCHEMISTRY CO.,LTD 2023-07-01 CHINA 59400 KGS 60 PKG
2 TXSLQD2302Y375 ITACONIC ACID, 99.5%MIN. CAS NO. 97-65-4 H.S.CODE: 9902.02.95 1000KG SUPER SACKS WRAPPED ON STAMPED40 PALLETS. TOTAL: 40 PALLETS CHEMTAN CO. INC. (FOR ITACONIX CORP QINGDAO KEHAIJIANTANG BIOCHEMISTRY 2023-03-19 CHINA 39600 KGS 40 PKG
3 TXSLQD2302Y376 ITACONIC ACID, 99.5%MIN. CAS NO. 97-65-4 H.S.CODE: 9902.02.95 1000KG SUPER SACKS WRAPPED ON STAMPED 20 PALLETS. TOTAL: 20 PALLETS CHEMTAN CO. INC. (FOR ITACONIX CORP QINGDAO KEHAIJIANTANG BIOCHEMISTRY 2023-03-19 CHINA 19800 KGS 20 PKG
Itaconix
1 KLSQTAOKW2208079 ITACONIC ACID, 99.5%MIN. ITACONIX CORPORATION QINGDAO KEHAI BIOCHEMISTRY CO.,LTD 2022-10-15 PANAMA 39600 KGS 40 CTN
2 EXDO62Y0220796 ITACONIC ACID ITACONIX CORPORATION QINGDAO KEHAI BIOCHEMISTRY CO.,LTD 2022-08-25 SOUTH KOREA 19800 KGS 20 PKG
3 EXDO62Y0220197 ITACONIC ACID ITACONIX CORPORATION QINGDAO KEHAI BIOCHEMISTRY CO.,LTD 2022-08-04 SOUTH KOREA 19800 KGS 20 PKG
4 KLSQTAOKW2204354 ITACONIC ACID, 99.5%MIN. ITACONIX CORPORATION QINGDAO KEHAI BIOCHEMISTRY CO.,LTD 2022-07-03 CHINA 19800 KGS 20 CTN
5 COHECTASE2035082 ITACONIC ACID ITACONIX CORPORATION QINGDAO KEHAI BIOCHEMISTRY CO.,LTD 2022-06-16 PORTUGAL 19800 KGS 20 PKG
Chemtan
1 UULNQD23030547 ITACONIC ACID, 99.5MIN. CAS NO. 97-65-4 H.S. N STAMPED 20 PALLETS. TOTAL 20 PALLETS . CHEMTAN CO.INC. QINGDAO KEHAI BIOCHEMISTRY CO.,LTD 2023-05-02 CHINA 19800 KGS 20 PKG
ATB
AJP