Iofina PLC Trading Update (4035M)
October 13 2016 - 1:00AM
UK Regulatory
TIDMIOF
RNS Number : 4035M
Iofina PLC
13 October 2016
13 October 2016
Iofina plc
("Iofina", the "Group" or the "Company")
(LSE AIM: IOF)
Q3 Production & Corporate Update
On track to meet production targets for H2 2016
Iofina, specialists in the exploration and production of iodine
and iodine specialty chemical derivatives, is pleased to update the
market today on the Company's Q3 iodine production.
The Group produced 125.1 metric tonnes ("MT") of crystalline
iodine in Q3 2016 (the "Period"), and has produced 380.7 MT year to
date from our five IOsorb(R) plants in Oklahoma. The Group remains
on track to meet our production targets of 250-270 MT of
crystalline iodine in H2 2016. As recently communicated, Iofina and
its partners have completed improvement projects at three plants
during the Period. The design improvements will provide a more
consistent brine input to our IOsorb(R) plants, which is necessary
under a changing regulatory environment. Iofina continues to work
closely with its partners on a variety of strategies to maximise
productive throughput at all of its IOsorb(R) plants.
In addition, Iofina Chemical has performed well in a competitive
market, selling the Company's IOflo(R) iodine along with Iofina's
portfolio of iodine and specialty halogen derivatives, to customers
worldwide.
Commenting on today's update, President and CEO Dr. Tom Becker,
stated:
"Our five IOsorb(R) plants continue to produce on a reliable
basis in line with Company forecasts. Improvements to brine tie-ins
and other measures will help ensure consistency of raw brine for
the future."
For further information, please contact:
Dr. Tom Becker, CEO & President
Iofina plc
Tel: +44 (0)20 3006 3135
Christopher Raggett/Giles Rolls/Joanna Scott
finnCap Ltd
Tel: +44 (0)20 7220 0500
Media Contact:
Dominic Barretto/Harriet Jackson
Yellow Jersey PR Limited
Tel: +44 (0)7544 275 882
About Iofina:
Iofina specialises in the exploration and production of iodine,
iodine specialty chemical derivatives and produced water. Iofina's
business strategy is to identify, develop, build, own and operate
iodine extraction plants currently focused in North America based
on Iofina's WET(R) IOsorb(R) technology. Iofina has operations in
the United States, specifically in Montana, Kentucky and Oklahoma.
It has complete vertical integration from the production of iodine
in the field to the manufacture of the chemical end-products
derived from iodine to the consumer and the recycling of iodine
using iodinated side-streams from waste chemical processes. Iofina
utilises its portfolio of patented and patent pending technology,
proprietary methods and trademarks throughout all business
lines.
www.iofina.com
This information is provided by RNS
The company news service from the London Stock Exchange
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