Production down ...... AGAIN!3 Apr 2017 20:02
So production for H1 is now revised to a mid 222.5 mt. And with that representing a 10% reduction from January's 245 mt forecast, then how can IOF claim that it "will have only a small impact on the Company's forecast production." 10%? Small?
But how's about this for a corker:
"Additionally, the Company anticipates that this reduction in available brine will have little impact on the Company's planned net cashflow."
Of course, IOF, because these failing plants ARE NOT MAKING ANY MONEY WHATSOEVER. Giving yourselves away there guys. As for:
"Iofina's exploration program has researched several potential sites that the Company believes will deliver iodine rich brine streams."
Of course you have, guys, of course you have (chuckle chuckle). But somehow I reckon these "research notes" will end up in the same filing tray as the "Autumn 2014 Strategic Review", never to be seen again.
Yep, keep on claiming "you're trying your best" IOF, using Stena/Panacea "expansion cash in the process. What a sorry shower!
Strong sell