Iofina PLC Market Update (2943Z)
14 December 2017 - 6:00PM
UK Regulatory
TIDMIOF
RNS Number : 2943Z
Iofina PLC
14 December 2017
14 December 2017
Iofina plc
("Iofina", the "Group", or the "Company")
(LSE AIM: IOF)
December 2017 Market Update
H2 Iodine Production to Exceed Targets; IO#7 Update
Iofina, specialists in the exploration and production of iodine
and halogen-based specialty chemical derivatives, is pleased to
update the market on its H2 2017 iodine production and the progress
being made on the construction of IO#7.
Crystalline iodine production at the Company's four operating
IOsorb(R) plants has continued to deliver encouraging results.
Measures executed by Iofina's operations team, as well as by the
Company's brine supply partners, have resulted in better than
expected iodine volumes. Iofina had expected H2 2017 crystalline
iodine production totals in the range of 225-240 metric tonnes
("MT"). Barring significant weather or other year end issues, the
Directors now anticipate H2 crystalline iodine production to exceed
265 MT, taking the Company's full year 2017 crystalline iodine
production total to over 500 MT (2016: 474.2 MT).
Construction at IO#7 continues to progress well within expected
timeframes and budget. Most of the large infrastructure is complete
and the next stage of construction will shift to finalizing
electrical and plumbing requirements. Barring significant changes
in weather, hydrostatic and other plant testing is expected in
January 2018 with first production commencing in February 2018.
A new image of the IO#7 construction progress can be viewed on
the Company's website www.iofina.com or by clicking the link
below:
http://www.rns-pdf.londonstockexchange.com/rns/2943Z_1-2017-12-13.pdf
Commenting, President and CEO Dr. Tom Becker, stated: "I am very
pleased to report that Q4 crystalline iodine production has
continued to be robust and remains at levels which should bring
full year aggregate amounts to over 500 metric tonnes. The 2017
crystalline iodine production total will exceed the 2016 total,
despite having one fewer IOsorb(R) plant in operation for most of
the year. This increase in production is a testament to our goal of
continuous improvement. IO#7 construction is on track and, when
operational in early 2018, will be a significant contributor to
Iofina."
Enquiries:
Dr. Tom Becker, CEO & President
Iofina plc
Tel: +44 (0)20 3006 3135
Christopher Raggett/Giles Rolls/Emily Morris
finnCap Ltd
Tel: +44 (0)20 7220 0500
Media Contact:
Charles Goodwin/Harriet Jackson
Yellow Jersey
Tel: +44 (0)7544 275 882
About Iofina:
Iofina specialises in the exploration and production of iodine,
halogen based 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 is a vertically integrated company, covering the
process from the production of iodine in the field, to the
manufacture of the chemical end-products derived from iodine,
supplying them 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,
and 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
END
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