Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

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 Feb 15, 2016 9:41am
400 Views
Post# 24558990

209 Cases Settled by Q3 2015 End - MBAC data

209 Cases Settled by Q3 2015 End - MBAC dataIf you go to the full Q3 report released Nov. 16/15 on Sedar, you will see under section 13, "Commitments and Contingencies" on page 12, that 120 cases were settled in Q2 at a cost of $0.4 million and another 89 in Q3 at a cost of $0.24 million. That's 209 cases for a total of $0.64 million or $3062.00 on average per case. At that rate, for all 370 laid off staff, that amounts to $1.13 million. In case there is any confusion regarding whether the 120 are Q2 numbers, you can confirm it from the Jun. 15/15 press release. That is about 100 cases a quarter which means at that rate we should be finished by the end of March. However, judging a by the recent activity on the Justice Brazil site regarding MBAC, I think it could be finished sooner. That said, I do believe we are on the verge of losing the next production season (starts in May). So unless our partner has deep pockets there is a risk of them pulling out. But this could be a good thing as it would force management to take a complete buyout - which as explained in an earlier post - is more attractive now than just one year ago with the FOREX situation. I don't know why they would want to drag this ordeal on since, unless it is an absolutely fantastic deal, none of them are going to survive the next AGM (May/June). Speaking of which, we may need to begin considering putting our own director on as their may be no remaining BOD after the AGM vote. Albeit, I think we will be bought out before then. AIMHO. Greg
Bullboard Posts