Iofina PLC - H1 2019 Update
THE INFORMATION COMMUNICATED IN THIS ANNOUNCEMENT IS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION 596/2014.
("Iofina", the "Group", or the "Company")
(LSE AIM: IOF)
H1 2019 Update
Iodine production up c.10 per cent; iodine price continues to climb
In H1 2019, the Company produced a total of 286.7 metric tonnes ("MT") of crystalline iodine from its four IOsorb® plants operating in
During the first half of the year, the Directors focused on securing additional capital and successfully raised
The Group is pleased to confirm that the
Iodine prices have continued to rise throughout the first half of 2019 due to tightness in supply in a market which continues to see solid demand. Iodine prices in the latter half of Q2 and into early Q3 are trending upward and most spot market iodine sales are now over
Additionally, IofinaEX has fully obtained its Industrial Hemp Processor/Handler License in the state of
Iofina Chemical has continued to trade strongly in both iodine and non-iodine products.
Commenting, President and CEO Dr.
"The successful fundraise in Q2 has enabled us to pay down our loan facility, and reduce debt further via a debt to equity exchange putting the Company in a stronger position. The iodine price continues to move in the right direction and we expect this to continue into the second half of the year.
"Iofina's newest subsidiary, IofinaEX, is now fully licensed to process hemp in the state of
CEO & President
Tel: +44 (0)20 3006 3135
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Iofina Resources develops, builds, owns and operates iodine extraction plants using Iofina's WET® IOsorb® technology. Iofina currently operates four producing IOsorb® plants in
Iofina Chemical has manufactured high quality halogen speciality chemicals derived from raw iodine, as well as non-iodine based products for over 35 years.
Iofina's newest subsidiary, IofinaEX, is now fully licensed to process hemp in the state of
This information is provided by RNS, the news service of the
Quick facts: Iofina PLC
Market Cap: £31.18 m
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