Straitened economic times can result in expansion being put on the back burner, but AIM-listed Iofina is one small-cap determined to push ahead with its plans. Already the second-largest producer of iodine in North America, Iofina recently announced a strategy to double production over the next few years. Iodine is a rare element but essential for humans, with its uses varying from antiseptic and pharmaceuticals to x-ray contrast media and other industrial means. Iodine produced by Iofina is used in salt as well as for unblocked games premium antiseptic and pharmaceuticals, x-ray contrast media and other industrial means Iofina has developed a technology, IOsorb, that allows the chemical to be extracted from brine brought up as by-product at onshore oil wells.
Five plants are in operation already and ground is expected to be broken shortly on its next Oklahoma-based IOsorb iodine plant, dubbed IO#9. 'What this will do for Iofina, is it will allow us to start executing our growth strategy to be able to put new iodine plants in a new core area in Oklahoma and in the next three to five years, double our iodine production,' said chief executive Tom Becker. Better still, the plant should be able to pay for unblocked games premium itself quickly.RELATED ARTICLES Previous 1 Next MIDAS SHARE TIPS: Iodine can make chips healthier and with...
MIDAS SHARE TIPS: Cash in on a breath of fresh air for... MIDAS SHARE TIPS: Spies of the seas can find profits hunting... MIDAS SHARE TIPS: Hercules Site Services is a giant that... Share this article Share HOW THIS IS MONEY CAN HELPIofina shares: Check the latest price here 'We do a good job of sourcing where large amounts of brine water with good iodine concentrations are,' he added and as a 'low-cost producer,' the new plant should be generating a profit within two years of operation.
Build times are approximately six months and production is expected to commence in the second quarter of 2023. On the earnings side, Iofina's half-year results in September showed the progress it has made recently. Underlying profits were a record for the company, underscoring a 6 per cent increase to $3.7million. The cash position is now significantly stronger and at the half-year point was $4.7million, cutting its net debt position to $2.8million from $7.2million.
Raw iodine sales volumes were lower as the stock build-up caused by the pandemic ironed itself out but soaring demand unblocked games premium and prices helped offset this. Gross profit increased by 5 per cent to $5.7million due to an 89 per cent increase in price per kilo of iodine and a 36 per cent increase in sales of derivative products. Looking ahead, Iofina is determined to keep building. Becker's ambition is to increase the company's portfolio from five to seven plants in the next 12 to 18 months.
Analysts at broker finnCap have been paying particular attention to Iofina's construction pipeline.
SMALL CAP IDEAS: Iodine maker Iofina pushes ahead with expansion plans
by Sabrina Parkman (2024-09-04)
Straitened economic times can result in expansion being put on the back burner, but AIM-listed Iofina is one small-cap determined to push ahead with its plans. Already the second-largest producer of iodine in North America, Iofina recently announced a strategy to double production over the next few years. Iodine is a rare element but essential for humans, with its uses varying from antiseptic and pharmaceuticals to x-ray contrast media and other industrial means. Iodine produced by Iofina is used in salt as well as for unblocked games premium antiseptic and pharmaceuticals, x-ray contrast media and other industrial means Iofina has developed a technology, IOsorb, that allows the chemical to be extracted from brine brought up as by-product at onshore oil wells.Five plants are in operation already and ground is expected to be broken shortly on its next Oklahoma-based IOsorb iodine plant, dubbed IO#9. 'What this will do for Iofina, is it will allow us to start executing our growth strategy to be able to put new iodine plants in a new core area in Oklahoma and in the next three to five years, double our iodine production,' said chief executive Tom Becker. Better still, the plant should be able to pay for unblocked games premium itself quickly. RELATED ARTICLES Previous 1 Next MIDAS SHARE TIPS: Iodine can make chips healthier and with...
MIDAS SHARE TIPS: Cash in on a breath of fresh air for... MIDAS SHARE TIPS: Spies of the seas can find profits hunting... MIDAS SHARE TIPS: Hercules Site Services is a giant that... Share this article Share HOW THIS IS MONEY CAN HELP Iofina shares: Check the latest price here 'We do a good job of sourcing where large amounts of brine water with good iodine concentrations are,' he added and as a 'low-cost producer,' the new plant should be generating a profit within two years of operation.
Build times are approximately six months and production is expected to commence in the second quarter of 2023. On the earnings side, Iofina's half-year results in September showed the progress it has made recently. Underlying profits were a record for the company, underscoring a 6 per cent increase to $3.7million. The cash position is now significantly stronger and at the half-year point was $4.7million, cutting its net debt position to $2.8million from $7.2million.
Raw iodine sales volumes were lower as the stock build-up caused by the pandemic ironed itself out but soaring demand unblocked games premium and prices helped offset this. Gross profit increased by 5 per cent to $5.7million due to an 89 per cent increase in price per kilo of iodine and a 36 per cent increase in sales of derivative products. Looking ahead, Iofina is determined to keep building. Becker's ambition is to increase the company's portfolio from five to seven plants in the next 12 to 18 months.
Analysts at broker finnCap have been paying particular attention to Iofina's construction pipeline.