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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 Psalm9012on May 28, 2015 12:37pm
161 Views
Post# 23774442

RE:MBC's Institutional Ownership History

RE:MBC's Institutional Ownership HistoryNo - look at your chart. It has the institutional ownership bouncing between roughly 40% and 70% every other month for the past several months. Something's wrong with the data. Here's the numbers based on Morningstar and INK Research which has been relatively stable and consistent for the last several months. Let's start with the largest holder - Invesco institutional holdings 32.4 million shares and 29.8 million through their Invesco and Trimark funds for a total 62.2 million shares or 34% of the float. A single institution holding this many shares is very favourable to shareholders as they will have the clout to ensure the best deal for shareholders as opposed to management. The other significant institutional holders are: B&A Mineraco @ 18.2 million, Standard Life Assurance @ 14.5 million and International Finance Corp @ 10.8 million for a total institutional ownership of 105.7 million or 58%. MBAC management hold 7.0 million shares and MBAC directors another 16.4 million for total insider holdings of 23.4 million shares or 13%. Total ownership between institutions and insiders is 129.1 million shares or 71% of the float. It is interesting to note that none of the participants in the bought deal financings of 2012 and 2013 - namely Canaccord, BMO, National Bank, GMP, Raymond James or Paradigm Capital - of between $2.20 and $3.40 per share have any remaining positions. With a total float of 181.6 million shares, it means retail investors have about 50 million shares of which I can account for several million among family and friends and wouldn't doubt if this board had another 20 - 30 million which leaves only about 15 - 25 million shares free for trading. Hence why the volume is now likely so small. Albeit, it drifts lower as most of us have our full positions and are therefore not buying anymore while a handful of other investors lose patience and unload (i.e. they lose sight of the fundamentals and thus the need for patience). Greg
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