Trading Update

RNS Number : 9677B

Iofina PLC

13 January 2015

 

13 January 2015

Iofina plc

("Iofina" or the "Company")

(LSE AIM: IOF)

TRADING UPDATE

Iofina, specialists in the exploration and production of iodine and iodine specialty chemical derivatives, is pleased to provide an update to the market today on performance over a transformational 12 month period for the Company.

Iofina produced a total of 327.7MT (2013: 171MT) of crystalline iodine in 2014 from its IOsorb® plants across the USA, a like-for-like increase of over 90%.  This 2014 production total was achieved in spite of lower than expected water volumes in December, due to fracking in Iofina's Oklahoma production area.  The Company expects to produce 220-260MT of crystalline iodine in H1 2015 from its existing IOsorb® plants.

Furthermore, the Board expects overall Revenue in 2014 to be over 35% higher than 2013 Revenue, in a year when iodine prices fell more sharply than expected.  Iofina's specialty chemical derivatives producer, Iofina Chemical, continues to be a market-leader and the Board remains highly encouraged by its performance.

Pursuant to the Company's 22 December RNS, the Department of Natural Resources and Conservation ("DNRC") of the State of Montana has reviewed all objections and only a portion of one objection has been deemed valid, for the Company's Montana water permit (No. 40S 30066181).  All other filed objections were deemed invalid.  The hearing date for this single objection, from a local water supply competitor, is tentatively scheduled for 19 February 2015.  The Company will vigorously defend the granting of the preliminary permit and continues to move forward with execution plans for this water depot project.

Commenting on today's Trading Update, President and CEO Dr. Tom Becker, stated:  "I am delighted that that we had a productive second half of 2014 and continue to optimize iodine production at our IOsorb® plants while providing the iodine chemical derivatives market with quality, innovative products through Iofina Chemical. Through improved plant efficiencies and strategic growth the Board expects 2015 to be an exceptional year for Iofina and looks forward to updating shareholders on progress."

For further information, please contact:                                                                                              

Dr. Tom Becker, CEO & President

Iofina plc

Tel: [phone]

John Prior/Rupert Krefting/Paul Gillam

Numis Securities

Tel: [phone]

Rob Collins/Emily Morris

GMP Securities

Tel: [phone]

Media Contact:

Dominic Barretto/Anna Legge

Yellow Jersey PR

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 Texas, 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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