REG - Iofina PLC - Q1 2025 Update

IofinaAnnouncement

17/04/2025 07:00

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RNS Number : 3680F  Iofina PLC  17 April 2025

17 April 2025

 

Iofina plc

("Iofina", the "Company" or the "Group")

(AIM: IOF)

 

Q1 2025 Corporate Update

IO#11 on Track

 

Iofina plc, specialists in the exploration and production of iodine and
manufacturers of specialty chemical products, today provides an update
regarding its activities during Q1 2025 (the "Period").

 

In the Period, Iofina Resources produced 124.1 metric tonnes ('MT') of
crystalline iodine from its seven IOsorb® plants in western Oklahoma (Q1
2024: 123.7MT).

 

Whilst production during the winter months has always been lower due to the
colder temperatures affecting the IOsorb® process, during January and
February 2025, Oklahoma experienced extremely low temperatures that affected
all our partners' hydrocarbon production operations. Consequently, this led to
limited brine water at times being pumped to all our plants. Since early
March, the situation has been improving, with the brine water flow to our
operations increasing and approaching levels experienced in Q4 2024, but it
has not completely recovered to those levels.

 

Given the lower-than-anticipated Q1 2025 production, the Company now expects
total iodine production for H1 2025 to be closer to 300MT compared to the
previously guided range of 320MT-355MT. The Company will provide a further
update on Iofina Resources' production as part of its year-end 2024 financial
reporting.

 

Prices and demand for raw iodine have remained strong, with the Company
currently selling all crystalline iodine it is producing. The iodine spot
price has been consistently above $70/kg in the Period, which is higher than
the H2 2024 average price, and the Company expects prices to remain at these
levels throughout 2025.

 

The Company has continued to advance its new IOsorb® plant plans with IO#11
on track and progressing well. The initial foundation work for the site has
been laid, with the infrastructure now set to be installed. All the major
components have been ordered and many are already on site. The Company expects
IO#11 to be running in Q3 2025. Positive commercial terms are under discussion
on IO#12, whilst performing water chemistry evaluations on targeted areas. The
Company is optimistic that IO#12 will be under construction by the end of
2025, with updates announced later in the year.

 

The Company has been closely monitoring the recent tariff impositions that
might affect US domestic businesses, but it is pleased to report that there
have been no material implications to Iofina so far.

 

 

The Company will publish its 2024 full-year financial results to the market in
the coming weeks and hold its AGM in June 2025.

 

President and CEO, Dr. Tom Becker, commented:

"As a leading North American iodine producer, we were encouraged by the
strength of both the iodine market and prices achieved in Q1 2025. Whilst the
impact of the extreme winter weather has been frustrating, we continue to work
closely with all our partners to adjust their water gathering systems to
maximise brine water flow to our plants. All our plants are in good working
order, and we remain optimistic for the rest of 2025 in terms of production,
capitalising on the strong iodine market and switching on IO#11 as planned in
Q3 2025."

 

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:

 

Iofina plc

Dr. Tom Becker

CEO & President

Tel: +44 (0)20 3006 3135

 

Nomad & Broker:

Canaccord Genuity Limited

Henry Fitzgerald-O'Connor/Harry Rees

Tel: +44 (0)20 7523 8000

 

Financial PR and Media Contact:

Yellow Jersey PR Limited

Charles Goodwin/Shivantha Thambirajah/Zara McKinlay

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 operates seven IOsorb®
plants in Oklahoma and consistently uses 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 celebrated its 40(th) anniversary in 2023 as a preeminent
halogen-based specialty chemicals company.

 

www.iofina.com (http://www.iofina.com/)

 

 

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