This rising star seems to have been overlooked by this board. It is strongly tipped in todays Sun Times as extremely undervalued still with much more interest when it moves to the main list in a few weeks time--straight into the ftse 350. The institutions are coming onboard and I'm happy with my long term hold.

This was the news couple of days ago, from Business Financial Newswire:
"IFL back on track as demand picks up
Full year revenues at International Ferro Metals fell 59% to ZAR782m as ferrochrome price in the fourth quarter plunged 64% to US$0.69 per pound. The firm posts an EBITDA loss of ZAR396m and a net loss before tax of ZAR456m compared with net profit of ZAR630m in 2008.
But it says its balance sheet remains strong with ZAR340m of cash while its excellent safety record had resulted in the company being certified ISO compliant during the year.
Chief executive David Kovarsky said: 'We are confident that the recent resumption in demand and stronger ferrochrome prices are sustainable and IFL is back on track to take advantage of this with an improved cost base.' "

It's been a good one to trade in the past, and I agree: the chart does look promising. [Don't know why I can't post them these days... used to be ok!]

I have seen quotes that the price of ferrochrome might reach $3/lb because of rising demand. Sounds optimistic, but metal prices are certainly on the up.

Looks like the Telegraphs Questor column gave IFL the kiss of death by recommending to buy at 58p,which I did. They have not stopped going down since.
Now at 49

Support at 49p but failing that good support at 38 - 40p.
Not followed this one at all, but would be very tempted to buy in at +/-40p.
Last sales figures are poor, but if demand for metals is now going to increase, then IFL should benefit. Interesting that figures are quoted in ZAR which I thought was quite weak atm.

Back on track here and rising nicely. I'm back in for a few in my isa.

That's good.They usually wait until I sell before they start going back up!

Despite the poor performance of the sp,2 of 3 brokers rate IFL a strong buy,the other neutral.
Obviously, the recovery in ferro metal price is key.

Funny goings on here.
Share price down 2.5 points(6%),yet strong buying

Anybody in the know as to why the price continues to drop,despite positive broker opinion.I bought after Questor reccommendation at .58 and they are now .38.
The price of f/chrome has fallen from about$.90 to $.80 over the last few months,so I expect that is part of the answer.

No idea but I hold. It just seems to be slipping away into oblivion.

The only 3 things I can think are

1) There is a big seller in the market still unloading
2) The market is going down to a double bottom and this is slowly heading down back to 10 - 20p
3) MM's trying to frighten PI's into selling their stock

To be honest atm it just doesn't look as though it is going back up so I don't suggest you buy anymore!

I have been disappointed with this share so now I've moved on--there are better invetments out there at the moment.

Me too.The trouble is,they only seem to go up when I sell.Consequently they are now 3 points higher,since selling this a.m.The message seems to be,"now that bast++d has sold.it's time to buy!
C'est la vie!

why not do a CFD with a guaranteed stop?

Quarterly management statement due to be released tomorrow.

There's something here about not selling at the bottom or buying at the top.

Bought back in after todays' positive statement
Should have waited another day
RNS Number : 3816C
International Ferro Metals Limited
12 November 2009






12 November 2009

International Ferro Metals Limited

("IFL" or the "Company")

Production Report for the three months to 30 September 2009

and Interim Management Statement

Highlights:

Ferrochrome production was 36,773 tonnes for the quarter to 30 September 2009, up sharply from the June 2009 quarter due to the start up of the second furnace

Ferrochrome sales were down from 41,916 tonnes in the June 2009 quarter when the Company was selling inventory plus production, to 36,383 tonnes in the September quarter

Inventory remained stable at 9,752 tonnes, compared to 9,362 tonnes at 30 June 2009

Net cash balance of ZAR433m as at 30 September 2009 (30 June 2009: ZAR340m)

Ferrochrome price was US$0.89 per pound for the September 2009 quarter, compared to US$0.69 for the June 2009 quarter




Post-period highlights

Ferrochrome price has increased to US$1.03 per pound for the December quarter of 2009






Three months to 30 September 2009

(tonnes)
Three months to

30 June 2009

(tonnes)
Three months to 30 September 2008

(tonnes)

Production
36,773
18,437
59,470

Ferrochrome sales
36,383
41,916
28,025

Ferrochrome stock at quarter end
9,752
9,362
33,265





Commenting on the operational update, Chief Executive Officer David Kovarsky said:

"Following increased ferrochrome demand and general shortages during the quarter we made a decision to start up the second furnace on 17 August 2009, having switched on the first furnace on 20 April 2009. The start up went smoothly and production is now running at full Eskom constrained capacity. With the prospect of continued ferrochrome price increases through 2010, IFL is well placed to take full advantage of its strategic access to growth in stainless steel production."



Ferrochrome market conditions

Since the beginning of 2009, global stainless steel production volumes have steadily increased and although there has been a recent slowdown over the quarter under review, it is expected that the upward trend will resume from the beginning of 2010.

Production

Production for the quarter to September 2009 was 36,773 tonnes compared with 18,437 tonnes in the previous quarter when only one furnace was in operation and 59,470 tonnes for the quarter to 30 September 2008 when both furnaces were running at full capacity after allowing for electricity constraints. Both furnaces are now running smoothly and achieved Eskom constrained nameplate capacity towards the end of October.

Sales

Ferrochrome sales were 36,383 tonnes for the quarter compared with 41,916 tonnes in the previous quarter when the Company was selling stockpiled material as well as production. These sales were executed in all of the Company's traditional markets: China, Europe and the United States. The strength of the Rand has adversely impacted achieved ZAR revenues and reduced margins.

Inventory and costs

Costs have been well controlled during the quarter.

Stock levels were low in the June quarter due to increased sales and are currently low as IFL turned on its second furnace part-way through the September quarter. The Company is now rebuilding inventory to more normal levels in response to expected increases in electricity prices due to regulatory tariff charges and seasonal pricing and in response to expected increases in the ferrochrome price.

Capital expenditure

Total capital expenditure budgeted for the remainder of the financial year is ZAR350 million which includes ZAR190 million for the electricity co-generation project and ZAR80 million for mine development.

The mine capital programme has begun with the MG2 decline expected to be completed by the end of November 2009. Development of the MG1 decline has commenced.

Construction of the co-generation plant, which will allow the Company to generate 10% of its electricity requirements at significantly lower cost, after allowing for carbon credits, is well underway and will be commissioned in the second half of 2010.

Cash

The Company's balance sheet remains strong with net cash of ZAR433m at the end of September 2009 and the ZAR500 million Bank of China working capital facility in place. The Company will continue its prudent management of cash and resources.

Outlook

Due to a lack of transparency in demand from developing economies and the outlook for the Rand and electricity costs, the Company remains cautious in the near term. However, on an operational level, the Company's furnaces are operating efficiently, mining development has commenced as planned and the development of our co-generation project is on track. Our strategic relationships are key in harnessing the growth in demand in China and our belief in the outlook for stainless steel demand in the long term remains intact.




Other than as detailed above in this Interim Management Statement, there have been no material events or transactions in the period from 1 October 2009 to 12 November 2009.




For further information please visit www.ifml.com or contact:




International Ferro Metals Limited

David Kovarsky, Chief Executive Officer
+27 82 650 1192

Brunswick Group

Patrick Handley / Carole Cable
+44 (0) 20 7404 5959

Numis Securities Limited

John Harrison / Stuart Skinner
+44 (0) 20 7260 1000







About International Ferro Metals:

International Ferro Metals produces ferrochrome, the essential ingredient in stainless steel, from its integrated chromite mine and ferrochrome processing operations in South Africa. International Ferro Metals is listed on the London Stock Exchange under the symbol IFL.




Forward Looking Statements

This announcement contains certain forward looking statements which by nature, contain risk and uncertainty because they relate to future events and depend on circumstances that occur in the future. There are a number of factors that could cause actual results or developments to differ materially from those expressed or implied by these forward looking statements.


This information is provided by RNS
The company news service from the London Stock Exchange

END

The most important thing is that the price of chrome has shot up and the sp should have support at this level....jumped in for the first time here on recovery hopes.

RF What is the best site for accessing metal prices?

FT (financial times)...I think....I shall have to sign up myself one of these days...

From the "UPS" thread late yesterday ..........

Master RSI - 19 Nov'09 - 22:00 - 170 of 180 edit

KEEP and EYE

IFL 40.675p ( 40.25 / 41p )

Moving slowly from lows, the last candlesticks have given a buy signal ( short term )