Iofina eyes strong 2012
Iofina, the iodine production specialist, gave a positive update on Monday, saying it was well positioned for 2012 and beyond.
Iofina, the iodine production specialist, gave a positive update on Monday, saying it was well positioned for 2012 and beyond.
The firm said iodine prices were expected to remain robust throughout the year.
It added that its well extraction technology plants, which process the brine byproduct from gas and oil production, were now capable of processing up to 30,000 barrels a day.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The company also said it had secured mid-stream contracts with several large independent producers.
"Iofina's strong reputation and presence in the market is now well-established," said Chief Executive Lance Baller.
"With its geological model, robust technology and current customers, the group is well positioned for a strong 2012 and beyond."
However, investors did not reflect management's cheery disposition and pushed shares down 6% in early trading.
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
-
Regulator moves to protect access to cash amid branch closures and disappearing ATMs
News The Financial Conduct Authority has told banks to start assessing if local communities have adequate cash access from mid-September
By Marc Shoffman Published
-
VAT hike on private school fees could come earlier than previously expected
The government could start charging VAT on private school fees as soon as January 2025, according to the latest reports. What does it mean for parents?
By Katie Williams Published