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.

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 )

Master rsi you cloud be right i see a brake out coming 49p/50p charts look good

And about time too!

Expected rises on the price of ferrochrome says CEO ...........

20 November 2009
London-listed South African ferrochrome producer International Ferro Metals (IFM) says in a report on page 10 of this edition of Mining Weekly that it expects the ferrochrome price to continue to rise throughout 2010. IFM CEO David Kovarsky expects the upward trend to resume as 2010 kicks off, despite the downturn in demand in the September quarter.

The ferrochrome price is $1,03/lb currently, up from $0,89/lb in the September 2009 quarter, and $0,69/lb in the June quarter. The $1,03/lb price level is expected to persist as Europe and North America adopt it as the benchmark. Though the spot price of ferrochrome has been softer in China, it is expected to firm once Chinese stockpiles normalise.

ferrochrome prices

MRSI. Thanks for info.
The Telegraph rated IFL a buy at 58,so there should be a good deal of mileage here.

The rebound in IFL may have started today (up 3 to 27).If so, it is about time.It could be a good one as it is down well over 50%

This news should,I think ,give the stock a big boost. It is already up a third from recent lows.

21 January 2010




International Ferro Metals Limited

("IFL" or the "Company")




Production report for the three months to 31 December 2009




Highlights:

Production was 57,942 tonnes for the three months to 31 December 2009 ("Q2 FY2010"), up 85%
on the three months to 31 December 2008 ("Q2 FY2009") following the successful start-up of the second furnace in August 2009

Ferrochrome sales volumes were up 61% for the three months under review compared with the previous year, reflecting the suspension of production which took place in November 2008

Ferrochrome inventory was 32,504 tonnes as at 31 December 2009, reflecting management's decision to increase inventory above normal levels

Second furnace started up during August 2009 and both furnaces are now operating at Eskom constrained capacity

Electricity co-generation plant is on schedule and on budget for commissioning during the second half of calendar 2010

Net cash balance of ZAR248 million as at 31 December 2009.




Ferrochrome
Three months to 31 Dec 2009



Three months to 31 Dec 2008



Three months to 30 Sept 2009



Six months to 31 Dec 2009



Six months to 31 Dec 2008




Production tonnes
57,942
31,289
36,773
94,715
90,759

Sales tonnes
34,553
21,410
36,383
70,936
49,435

Stock at period end
32,504
42,523
9,752









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

"Following the successful start up of our second furnace in August 2009, the Company has built up inventory levels in anticipation of higher ferrochrome prices in 2010. So far in 2010, stainless steel production and demand have both strengthened and the management and Board are confident that the Company is well placed to take advantage of a revival in the global stainless steel and ferrochrome markets due to its strong balance sheet, furnaces are running at high utilisation levels, and strong relationships exist with the Chinese market."




Ferrochrome Market Conditions

The revival of the ferrochrome market in August 2009 led the Company to start up its second furnace in the expectation that this trend would continue. Benchmark prices mirrored this expectation with the Q4 2009 European benchmark price increasing to US$1.03 per pound, from US$0.89 in Q3 2009. However due to stainless steel overstocking and, to a lesser extent, an increase of global ferrochrome production and overstocking, this momentum slackened towards the end of Q4 2009. Ferrochrome benchmark and spot prices came under pressure, with the European benchmark price reducing by 2 cents to US$1.01 per pound for Q1 2010.




Metal Bulletin has reported that since the beginning of the calendar year strong Chinese demand for ferrochrome and higher South African costs have resulted in increases in the ferrochrome spot price. Ferrochrome demand in Europe and the USA is also rising although stainless steel production in these markets is improving from a very low base.




In anticipation of future increases in electricity prices and to allow IFL to benefit from future price increases, the Company decided to increase inventory over the quarter under review from the low levels reported at the end of the September 2009 quarter.




IFL's strategic relationship with JISCO, and marketing campaigns to China partnered with JISCO, have historically led to improved customer relationships and a competitive advantage in the Chinese market. IFL intends to continue to focus its marketing efforts on the Chinese market in 2010 as well as supplying its other markets.




Production

Production for Q2 FY2010 (57,942 tonnes) increased by 58% compared with Q1 FY2010 (36,773 tonnes) due to the start-up of the second furnace in August 2009. Production for H1 FY2010 was 4% higher than in H1 FY2009. We are particularly pleased to note that the Company achieved record production for the month of December 2009 of 21,898 tonnes.




Sales

Sales increased from 21,410 tonnes in Q2 FY2009 to 34,553 tonnes in Q2 FY2010 and half year sales increased 43% from 49,435 tonnes in H1 FY2009 to 70,936 tonnes in H1 FY2010. The bulk of sales were made under contract at prices which were higher than those available during the quarter on the spot market.



Inventory

As detailed in the production report and IMS released to the market on 12 November 2009, IFL took steps to rebuild its inventory over the quarter under review from the low levels at the end of September 2009 of 9,752 tonnes to 32,504 tonnes at 31 December 2009 in order to take advantage of the expected increases in ferrochrome and electricity prices.



The current inventory level is higher than the approximately one month's production which the Company would normally maintain.




Capital expenditure

Capital expenditure budgeted for the remainder of the financial year is ZAR304 million which includes ZAR187
million for the electricity co-generation plant and ZAR58 million for mine development. There is no other planned significant capital expenditure and IFL remains focused on controlling costs.




Cash balance

As at 31 December 2009, the Company's net cash balance was ZAR248 million (ZAR448 million cash less ZAR200 million drawn on the ZAR500 million working capital facility), against a net cash balance of ZAR433
million on 30 September 2009. The decrease in net cash was principally due to the build up of finished stock,
and to a lesser extent an increased working capital requirement, planned capital expenditure, and unrecovered overhead.




Outlook

Since the beginning of the year stainless steel production utilisation levels, particularly in China, have
increased. This has had a positive impact on ferrochrome demand and spot prices. This trend is similar to those experienced by other commodities and has been driven by Chinese growth and a stabilisation of other economies. We expect this trend to continue.




The Company is well placed to take advantage of this revival with its strong balance sheet, furnaces running at high utilisation levels, and strong relationship with the Chinese market.




All major capital expenditure projects are running on time and on budget. This will further enhance the Company's production capacity and cost base, ensuring that IFL is well positioned to benefit from improving market conditions.







The Company's interim financial statements for the six months ended 31 December 2009 will be released on
23 February 2010.

Sold out last month at a loss......it's looking better now....