Iofina plc Announces Production Results for the Month of August 2014; Reviews Production Guidance Forecasts for 2014 and Provides Sales Guidance for the Month of September 2014
The company has also reviewed its production forecasts for 2014. In light of current fracking schedules, delays in the start of production at IO#5 and IO#6, and lower water volumes after the SWD site upgrade, the company anticipates that its overall 2014 crystallized iodine production will be circa 325-350MT of crystallized iodine. This represents close to a 2-fold year over year production increase but is below current market forecasts and managements targets.
While the iodine markets continue to remain challenging, the company has seen strong demand for its iodide derivatives, due to complete vertical integration and a strong product offering, resulting in the company's revenues through to September anticipated to surpass the total sales for all of 2013.