SF3 called it

[iceman]

SF3 please report to the principal's office to collect your prize.


http://www.stockhouse.com/news/press-releases/2015/11/12/input-capital-corp-provides-update-on-streaming-contracts

[farmaholic]

Make that 6 million average per contract, didn't remember the total value correctly...

[iceman]

SF3 called it on October 14 but zero mention of it 7 days ago on their Quarter results.

Over & Out

[Oliver88]

Wow....will their stock price take a hit tomorrow?


Input Capital Corp. provides update on streaming contracts
Canada NewsWire

REGINA, Nov. 12, 2015

REGINA, Nov. 12, 2015 /CNW/ - Input Capital Corp. ("Input") (TSX Venture: INP) (US: INPCF) announces a status update related to its portfolio of canola streaming contracts.

Input is taking steps to terminate three streaming contracts in Saskatchewan and enforce the security granted in conjunction with these contracts.

As this time, Input believes it will fully recover its investment in these three contracts through the enforcement of security. Once recovered, the funds will be available for redeployment in order to replace the cancelled tonnes. The capital value of the three contracts in question is approximately $18.4 million, compared with Input's security position of approximately $24.5 million.
As a result of the above, Input will reduce the number of active streams in its portfolio from 79 to 76 streams and is reducing guidance on the number of projected canola streaming tonnes to be sold in FY2016 from 80,000 tonnes to 65,000 tonnes.

President and CEO Doug Emsley stated: "This is a bump in the road for Input, but a small one. Most of the impact of this announcement is on tonnes originally expected to be received this fiscal year, with little impact on future years. While it is never positive to have to cancel a contract, I feel it is the best way, under these circumstances, to protect our shareholders' capital. The remaining 76 active streams in our portfolio are in good standing, and our prime deployment season is ramping up."


Read more at http://www.stockhouse.com/news/press-releases/2015/11/12/input-capital-corp-provides-update-on-streaming-contracts#sZ3tl2olDWKocfvs.99

[bucket]

Enforcement of security must mean Elmsley is collecting land for another big sale.

Wonder if the ag minister is on top of this loophole?

Sell the farm thru a canola contract?

[sumdumguy]

I need translation, pls.

[bucket]

Let's see. Input capital advances money to farmer. Farmer signs over farm as security. Farmer never delivers canola for whatever reason. Input takes farm.

Voila ... input capital owns farmland. And to satisfy their reduction in canola contracts subsequently sells newly acquired farm for a premium.

Farmer has money but no farm. Elmsley has money. All is well.

[farmaholic]

Depending what the security actually is, (life insurance, crop insurance, land...) I would bet they are more than covered. The process of collecting the security(depending on what it is), may not be fun but...

I would bet the farmer doesn't have much money left. Probably spent it on growing the crop or expanding or machinery...

Credit of last resort in my eyes...

[binthere]

modern day loansharking at its best. if these customers were that desperate for finacial resourses to maintain their operation they have no one to blame but themselves.

[farmaholic]

Richard5, a while ago you made a comment I found interesting. Was Hopperbin(RIP) caught up with this group?