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Itafos Inc V.IFOS

Alternate Symbol(s):  MBCF

Itafos Inc. is a phosphate and specialty fertilizer company. Its businesses and projects include Conda, Arraias, Farim, Santana and Araxa. Conda is a vertically integrated phosphate fertilizer business located in Idaho, United States with a production capacity of over 550 Kiloton (kt) per year of mono ammonium phosphate (MAP), merchant grade phosphoric acid (MGA) and ammonium polyphosphate (APP), and approximately 27kt per year of hydrofluorosilicic acid (HFSA). Arraias is a vertically integrated phosphate fertilizer business located in Tocantins, Brazil with a production capacity of approximately 500kt per year of single superphosphate (SSP) and SSP with micronutrients (SSP+). Farim is a phosphate mine project located in Farim, Guinea-Bissau. Santana is a vertically integrated high-grade phosphate mine and fertilizer plant project located in Para, Brazil. Araxa is a vertically integrated rare earth element and niobium mine and extraction plant project located in Minas Gerais, Brazil.


TSXV:IFOS - Post by User

Bullboard Posts
Comment by REALRETURNSon Oct 10, 2014 12:09pm
150 Views
Post# 23018836

RE:RE:RE:New start

RE:RE:RE:New startClearly states in the NR that re profiling of the debt is not done yet, waiting for final documentations and I assume this final documentations are linked to some certain conditions linked to meeting production targets, working capital, cost cutting ...etc. So I am assuming the steps the company had taken in the past 40 days was to ensure that they satisfy the bank's conditions. Whether or not that was enough remains to be seen, but the company was warning the banks that if they don't give them working capital then the company will go through bankruptcy protection. It's just wait and see game right now, you either lose it all or make 500% of your money.
Bullboard Posts