The Company continued to perform well during the Period, with Iofina Resources producing 107.1 metric tonnes (MT) of crystalline iodine from its IOsorb iodine plants in
Demand for Iofina's iodine remained strong throughout the Period, which was supported by a further expansion in the customer base. The iodine spot price has remained steady at around
IO9 is firmly on track to be operational before the end of Q2 2023, as outlined in the previous market update. The Company has finalised the exteriors of the buildings and is currently working on the interiors. The tower system was migrated from IO5, with the external steel already implemented. The final steps for completion will focus on the tower installation, plumbing, electricals and tying into our partner's brine system.
The Company continues to work on other growth projects and is in advanced dialogue with potential partners after receiving the initial geologist reports about supplying brine water for the next plant, IO10. Negotiations continue to progress positively in line with Iofina's commitment to further expanding its iodine production capacity in the short term.
The expectation remains that Iofina Resources will produce 235-250 MT of crystalline iodine during H1 2023 from its five existing plants (H1 2022:
The Company notes that it expects to publish its Full Year 2022 financial results in late April.
Commenting, President and CEO of Iofina Dr.
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About Iofina
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
Iofina Chemical
Iofina Chemical has manufactured high quality halogen speciality chemicals derived from raw iodine, as well as non-iodine based products will celebrate its 40th anniversary in 2023.
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