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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 Jul 04, 2017 4:28pm
180 Views
Post# 26432895

Was June 21 Press Release the Announcement of Production?

Was June 21 Press Release the Announcement of Production?If so, the optics of the news release are terrible. Why would you say you will be operating by the end of the quarter when you are little more than one week away? Just wait the week and then announce you are actually operating. Based on the history of this company anything less than that is meaningless. Further, regarding sales of the product, no one cares about the fanciful details of how you will market the product. Instead, tell us how much in contracts and sales are actually in place. The rest is just fluff. It's no wonder the stock is down to $1.65. On another issue, did anybody notice from the AGM document that former CEO, Melcher's salary increased 50% in 2016 over 2015. If I recall correctly, the company did not operate a single day in 2016. Further, he gets another $685,000.00 severance bringing his total compensation for taking the company into bankruptcy to well over $1 million. Gone are the days of personal accountability and integrity. To our American friends south of the border - happy Independence Day. Greg
Bullboard Posts