REG - Iofina PLC - IO#9 Update

IofinaAnnouncement

30/11/2023 07:15

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20231130:nRSd1389Va&default-theme=true

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® 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® 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.  Iofina
Chemical will be celebrating its 40(th) anniversary in 2023 as a preeminent
halogen-based specialty chemicals company.

 

www.iofina.com (http://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 (mailto:rns@lseg.com)
 or visit
www.rns.com (http://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 (https://www.lseg.com/privacy-and-cookie-policy)
.   END  UPDUKUUROAUAUUA