Iofina PLC IO#9 Update (1389V)
November 30 2023 - 2:00AM
UK Regulatory
TIDMIOF
RNS Number : 1389V
Iofina PLC
30 November 2023
30 November 2023
Iofina plc
("Iofina", the "Company" or the "Group")
(AIM:IOF)
IO#9 Update
Plant Operating at Expected Rate
Iofina plc, specialists in the exploration and production of
iodine and manufacturers of specialty chemical products, is pleased
to provide an update on its IOsorb(R) iodine plant, IO#9, in
Western Oklahoma.
As previously reported, the ramp-up phase of IO#9, since it was
switched on in June 2023, took longer than anticipated. Recently
our partner completed upgrades to its water gathering system, which
has improved the flow of brine water to the plant. Since the
completion of this work, the Company has been able to steadily
increase crystalline iodine production with the higher water flow
and can confirm that the plant is now operating within the expected
range of output. The Company expects second-half production at the
bottom, or very marginally below the bottom end of the forecast
range of 325-350 MT from its six iodine plants.
President and CEO, Dr. Tom Becker, stated: "Whilst IO#9's
ramp-up took longer than expected, we are now back on track with
the plant producing crystalline iodine at the rate expected.
Looking ahead, we feel there is an opportunity with our partner to
potentially increase flow even further than the current production
rate. In the meantime, IO#10 planning is advancing well and the
Company continues to make progress with negotiations relating to
our pipeline of further new plants."
This announcement contains inside information for the purposes
of article 7 of the Market Abuse Regulation (EU) 596/2014 as it
forms part of domestic law by virtue of the European Union
(Withdrawal) Act 2018.
Enquiries:
Dr. Tom Becker
CEO & President
Iofina plc
Tel: +44 (0)20 3006 3135
Nomad & Broker:
Henry Fitzgerald-O'Connor/Harry Rees
Canaccord Genuity Limited
Tel: +44 (0)20 7523 8000
Media Contact:
Charles Goodwin/Shivantha Thambirajah/Soraya Jackson
Yellow Jersey PR Limited
Tel: +44 (0)7747 788 221/+44 (0)7983 521 488
About Iofina:
Iofina plc (AIM:IOF) is a vertically integrated company that
specialises in the production of Iodine and the manufacturing of
specialty chemical products. Iofina is the second largest producer
of iodine in North America and operates the manufacturing entities
Iofina Resources and Iofina Chemical.
LEI: 213800QDMFYVRJYYTQ84
ISIN: GB00B2QL5C79
Iofina Resources
Iofina Resources develops, builds, owns, and operates iodine
extraction plants using Iofina's WET(R) IOsorb(R) technology.
Iofina currently operates five producing IOsorb(R) plants in
Oklahoma and is consistently using technology and innovation to
improve and expand its operations.
Iofina Chemical
Iofina Chemical has manufactured high quality halogen speciality
chemicals derived from raw iodine, as well as non-iodine-based
products. Iofina Chemical will be celebrating its 40(th)
anniversary in 2023 as a preeminent halogen-based specialty
chemicals company.
www.iofina.com
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END
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