Production Update

RNS Number : 2336Q

Iofina PLC

16 June 2015

 

16 June 2015

Iofina plc

("Iofina" or the "Company")

(LSE AIM: IOF)

IODINE PRODUCTION UPDATE

H1 production target increased

Iofina, specialists in the exploration and production of iodine and iodine specialty chemical derivatives, is pleased to issue an update to the market today on the Company's Iodine Production.

The Board announces today that the Company expects to exceed the upper end of its production target of 220-260 metric tons of crystalline iodine in H1 of 2015 from its IOsorb® plants.  The Company now expects to produce over 280 metric tons of crystalline iodine in the period. 

Commenting on today's news, President and CEO Dr. Tom Becker, stated: "We are pleased that our focused operations in our core production area have resulted in increased efficiencies and production volumes exceeding our previous target.  Production to date underpins our financial expectations for the current financial year.  With increased production and inventory levels, we are now positioned to pursue additional external sales and off-take agreements of our produced iodine."

For further information, please contact:                                                                                             

Dr. Tom Becker, CEO & President

Iofina plc

Tel: [phone]

Christopher Raggett/Giles Rolls/Joanna Weaving

finnCap Ltd

Tel: [phone]

Rob Collins/Emily Morris

GMP Securities

Tel: [phone]

Dominic Barretto/Anna Legge

Yellow Jersey PR Limited

Tel: [phone]

About Iofina:

Iofina specializes 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® IOsorb® technology. Iofina has production 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 utilizes its portfolio of patented and patent pending technology, proprietary methods and trademarks throughout all business lines.

www.iofina.com 

 

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