Itafos Inc V.IFOS

Alternate Symbol(s): MBCF

Chemicals Chemicals

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

Itafos Inc

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Comment by kisstopherpon Aug 16, 2017 9:42am

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Post# 26586818

RE:News out: Itafos receives $10,000,000 US in financing

Bucala wrote: Hope this is a good sign...

This isn't good news Bucala.

The owners of Itafos had to lend it money:

a) to continue with ramp-up (meaning we aren't likely in production yet..delay again)
b) pour money into GB Minerals for $2.5 million another zombie company with 1 Billion shares outstanding and needing significantly more financing to ever dream of production.
c) How will GB Minerals and ITAFOS pay back the cash advance due in early 2018? with future equity financings, meaning more dilution.
d) they earn a beautiful 15% interest on thier cash advance (aka loan).

Doesn't seem they've secured any of the off-take agreements they had hoped for - hence the cash advance.

As of stated before by the time thier all said and done you will own less than 1% of the company - it won't matter what's worth you will own none of it.