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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
Post by Psalm9012on Mar 30, 2015 7:16pm
243 Views
Post# 23579170

Possible Rational for this Mess

Possible Rational for this MessAs already suggested, management likely thought the deal would be done before they had to file. These deals often taken longer than anyone anticipates. However, to say this or simply not file could raise the ire of the OSC and result in a cease trade order and subsequent investigation. And then to have a long term trading halt when a deal is announced would be even worse. Saying you ran out of money for an auditor because of the financial duress may be an acceptable excuse for regulators. The company must now update shareholders on the status of the buyout either tomorrow or shortly thereafter. This is becoming quite pathetic. Greg
Bullboard Posts