Iofina says its on track to achieve production guidance
“We are on track for record iodine production in 2020, iodine prices are still strong, and our debt has been refinanced and significantly reduced," said chief executive Tom Becker
Company
Iofina PLC
LON:IOF
Iofina plc is a vertically integrated company that specializes in the exploration and production of iodine and the manufacturing of specialty chemical derivatives. Through its commitment to technology development and investing in its people, the company successfully services markets around the globe via its business lines, Iofina Resources and Iofina Chemical.
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Iofina achieves record revenues and earnings despite challenging global trading environment
Iodine prices held up reasonably well during the second quarter but have softened some in the third quarter
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Iofina shares jump as it signs binding documentation to refinance its entire debt with First Financial Bank
Iofina president and CEO Dr Tom Becker commented: "The conclusion of the debt refinancing is a significant and positive step for Iofina and is the culmination of many months of hard work"
Iofina rises as it reports positive progress in debt refinancing discussions
The iodine maker said the necessary internal approvals have now been obtained by the lender and the transaction is in the final legal documentation phase
Iofina highlights solid first half performance despite pandemic disruption
The company also said iodine prices had remained “encouragingly” steady at US$35 per kilo or above in the second quarter of 2020 and into the third
Iofina signs senior debt repayment extension
Iofina is in talks with a new primary lender to refinance all its debt.
Iofina says iodine plant back on stream; agrees debt extension with senior lender
"We are grateful to Stena, our senior lender, for agreeing to the terms of the two-month extension to the repayment deadline,” said chief executive Tom Becker. “We are extremely pleased with the progress that we have made despite the delays
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Iofina in profit last year and expects progress on loan talks
The 2019 performance has left the group in a "stronger position than ever from which to resolve its current debt situation"
Iofina says subsidiaries receive loans totalling US$1.09mln from the US government
The loans come under the US Small Business Administration's Paycheck Protection Program (PPP) which is part of the Coronavirus Aid Relief and Economic Security Act (CARES)
Iofina seeking alternative sources for brine at IO#08 plant in western Oklahoma
Iofina's technology extracts iodine from brine water, a byproduct of onshore oil and gas production in the US, but turmoil in the energy industry is hitting the supply of brine water at IO#08
Iofina says latest plant now up and running
"The company has enjoyed another strong quarter and remains in a healthy working capital position."
Iofina clarifies media reports on potential Arron Banks offer
The company has confirmed that following a request for clarification, Arron Banks has informed the firm that he does not intent to make an offer for the company
Iofina blasts Arron Banks and questions wisdom of focusing on iodine as coronavirus disinfectant
Brexit campaign financier signalled his intention last week to seek a place on the Iofina board
Profiting from coronavirus: which companies are benefiting, how investors should act
“When there’s fear and increased uncertainty in the market, which is what shorter-term investors focus on, we find there’s a great opportunity,” one fund manager says
Iofina says no formal request for board change from Brexiteer Arron Banks
In a statement, Iofina said: “The company confirms that, at this time, it has not received a requisition for a GM”
Iofina boss says iodine markets remain strong, with no impact seen from coronavirus outbreak
The company’s directors “are confident that prices will continue to favour the Group as it progresses through 2020”
Iofina salutes "exceptional performance" in 2019
The group remains confident in the potential of IofinaEX, the new business entity that is exploring the isolation of speciality chemical products from hemp
Iofina says construction of IO#8 remains on schedule
"As we seek to continue to grow our production capacity next year, we are well-positioned to take advantage of the current, positive environment of the iodine market."