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Pin to quick picksIofina Regulatory News (IOF)

Share Price Information for Iofina (IOF)

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Q4 2021 Update

17 Jan 2022 07:00

RNS Number : 5452Y
Iofina PLC
17 January 2022
 

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

 

 

17 January 2022

 

Iofina Plc

("Iofina" or the "Company")

(LSE AIM: IOF)

 

Market Update

 

Iofina plc, specialists in the exploration and production of iodine and manufacturers of specialty chemical products, today provides a brief update to the market regarding its activities during the fourth quarter of 2021 ("Q4" or the "Period").

 

As highlighted in Iofina's update on 29 December 2021, demand for the Company's iodine and iodine derivatives is strong whilst the iodine spot price has climbed to $50/Kg, a 25% increase on where it stood in October 2021. The Board expects to see these positive trends continue through H1 2022.

 

During H2 2021, the Company produced 268.8 metric tonnes ("MT") of crystalline iodine from its five operating IOsorb® plants in Oklahoma, meeting its production target of 260-275MT for the half year. The production figure for the year totalled 518.2MT. IOsorb® plant efficiencies remain strong, however as stated in our 2021 interim report, two plants continue to receive lower brine volumes compared to pre-pandemic levels, due to less reinvestment by our partner in their oil operations. Iofina is aware of future increased spending on oil production wells by our partner as oil prices continue to be robust. The Company has a forecasted production figure of 225-240MT for H1 2022.

 

Further progress has been made towards finalising an agreement for the construction of IO#9. The Company has begun to order long lead time items to minimise the total construction time for the plant and expects to provide further news in the coming weeks.

 

Commenting, President and CEO of Iofina Dr. Tom Becker, stated: "As highlighted in our last update, with production stabilised, our specialty chemical business performing well, and the iodine market fundamentals turning increasingly favourable, the outlook for 2022 is certainly encouraging. We have taken further steps forward to finalising an agreement with a new brine partner and expect to have this completed soon, with our plant construction team ready to start immediately."

 

Enquiries:

 

Dr. Tom Becker

CEO & President

Iofina plc

Tel: +44 (0)20 3006 3135

 

Christopher Raggett/Tim Harper (corporate finance)

Tim Redfern (ECM)

finnCap Ltd

Tel: +44 (0)20 7220 0500

 

Media Contact:

Charles Goodwin/Annabel Atkins

Yellow Jersey PR Limited

Tel: +44 (0)7747 788 221

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® IOsorb® technology. Iofina currently operates five producing IOsorb® 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 for over 37 years.

 

www.iofina.com

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
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Date   Source Headline
29th Aug 20194:35 pmRNSPrice Monitoring Extension
13th Aug 20197:00 amRNSIncorporation of IofinaEX Global
29th Jul 20197:00 amRNSGrant of Share Options
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20th May 20197:00 amRNSProposed Placing and Open Offer
14th May 20197:00 amRNSStatement regarding share price rise
1st May 20197:00 amRNSFinal Results
17th Apr 20197:00 amRNSQ1 2019 Market Update
1st Apr 20197:00 amRNSCompletion of Debt Restructuring
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22nd Jan 20197:00 amRNSChange of Registered Office
17th Jan 20197:00 amRNSMarket Update
20th Nov 20184:40 pmRNSSecond Price Monitoring Extn
20th Nov 20184:35 pmRNSPrice Monitoring Extension
16th Nov 20187:00 amRNSDirector Appointment
18th Oct 20184:40 pmRNSSecond Price Monitoring Extn
18th Oct 20184:35 pmRNSPrice Monitoring Extension
10th Oct 20187:00 amRNSQ3 2018 Update
20th Sep 20187:00 amRNSInterim Results
16th Jul 20187:00 amRNSH1 2018 Update
18th Jun 20187:00 amRNSMarket update
14th Jun 20187:00 amRNSGrant of Options
13th Jun 201811:30 amRNSResult of AGM
30th Apr 20187:00 amRNSFinal Results and Notice of AGM
18th Apr 20187:00 amRNSQ1 2018 Market Update
16th Apr 20181:30 pmRNSHolding(s) in Company
11th Apr 20186:20 pmRNSHolding(s) in Company
11th Apr 20186:20 pmRNSHolding(s) in Company
20th Mar 20183:05 pmRNSHolding(s) in Company
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14th Feb 20187:00 amRNSProduction commences at IO#7
30th Jan 20183:00 pmRNSHolding(s) in Company
15th Jan 20187:00 amRNSMarket Update
14th Dec 20177:00 amRNSMarket Update
16th Nov 20177:00 amRNSIO#7 Progress and Market Update
20th Oct 20174:40 pmRNSSecond Price Monitoring Extn
20th Oct 20174:35 pmRNSPrice Monitoring Extension
10th Oct 20177:00 amRNSQ3 2017 Market Update
22nd Sep 20177:00 amRNSInterim Results

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