Iofina (IOF)

Sector:

Industrial Chemicals

Index:

FTSE AIM All-Share

22.25p
   
  • Change Today:
      0.25p
  • 52 Week High: 36.00
  • 52 Week Low: 21.60
  • Currency: UK Pounds
  • Shares Issued: 191.86m
  • Volume: 60,595
  • Market Cap: £42.69m

Iofina production on track as iodine prices creep higher

By Josh White

Date: Friday 15 Oct 2021

LONDON (ShareCast) - (Sharecast News) - Iodine explorer and producer Iofina produced 142.7 metric tonnes of crystalline iodine from its five operating 'IOsorb' plants in Oklahoma in the third quarter, it said on Friday.
The AIM-traded firm said it remained on track to meet its second half production target of between 260 and 275 tonnes.

It said demand for iodine and iodine complexes remained robust, having recently indicated that iodine spot prices were increasing, with spot market prices late in the third quarter hovering between $37 and $39 per kilogram.

The strong demand and tight supply of iodine had continued into October, with spot prices now touching $40 per kilogram in some instances.

Iofina said it believed the outlook for demand for iodine would remain strong into 2022.

As it had recently reported, the firm was in negotiations with brine partners to create a new iodine plant, 'IO9'.

Those negotiations are progressing, with the company expecting to start construction before the end of the year.

"We are heading for another strong year," said president and chief executive officer Tom Becker.

"The company is on track to meet its second half crystalline iodine production target and demand for our products continues to be robust."

Dr Becker said that, with the iodine spot price also climbing higher, the outlook was encouraging.

"Importantly, we remain focused on increasing our production capacity and continue to negotiate terms for our latest plant, IO9, with construction expected to start before the year end."

At 1355 BST, shares in Iofina were up 5.72% at 15.99p.

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Iofina Market Data

Currency UK Pounds
Share Price 22.25p
Change Today 0.25p
% Change 1.14 %
52 Week High 36.00
52 Week Low 21.60
Volume 60,595
Shares Issued 191.86m
Market Cap £42.69m

Iofina Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
84.62% above the market average84.62% above the market average84.62% above the market average84.62% above the market average84.62% above the market average
87.50% above the sector average87.50% above the sector average87.50% above the sector average87.50% above the sector average87.50% above the sector average
Price Trend
17.37% below the market average17.37% below the market average17.37% below the market average17.37% below the market average17.37% below the market average
55.56% above the sector average55.56% above the sector average55.56% above the sector average55.56% above the sector average55.56% above the sector average
Income Not Available
Growth
72.77% above the market average72.77% above the market average72.77% above the market average72.77% above the market average72.77% above the market average
77.78% above the sector average77.78% above the sector average77.78% above the sector average77.78% above the sector average77.78% above the sector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 1
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Iofina Dividends

No dividends found

Trades for 28-Mar-2024

Time Volume / Share Price
13:49 4,630 @ 21.60p
13:47 4,630 @ 21.60p
12:37 41,014 @ 21.76p
12:00 13 @ 22.44p
11:10 10,000 @ 22.38p

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