Iofina (LON:IOF), the iodine producer, continues to look at streamlining costs as it reported an increase in production of crystalline iodine from its US plants for 2015.
It produced 569.1 metric tonnes - a 73$ increase on the 327.7MT for 2014 but still just marginally shy of previous guidance of 570 to 580 metric tonnes.
There were power outages at its IOsorb plants and at its partners' operations due to adverse weather conditions in late December, resulting in a loss of anticipated production of about 5-7MT of crystalline iodine in that month.
Meanwhile, the AIM firm added that, under current operating conditions, it expects to produce 250-270MT in the first half of 2016 from its five existing IOsorb plants - based on current injection restrictions at certain sites.
The group's president and chief executive Dr Tom Becker told investors: "While the board is encouraged by the sizeable year-on-year iodine production increase and overall operational gains, with the backdrop of an uncertain capital markets and commodity climate, 2016 will be a year of prudency and value protection.
"The company remains focused on seeking out ways to streamline efficiencies and mitigate risk, while expanding production at its current plants and future operations."
Iofina extracts iodine from brine water generated during onshore oil production, and as previously revealed, restrictions of particular Salt Water Disposal wells (SWD) due to seismic activity has impacted its brine supply.
"The company is developing alternatives to mitigate risk associated with potential future restrictions of individual SWDs," it added.
Shares were unchanged at 10.13p.