Iofina eyes strong 2012

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.

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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.