Iofina PLC (AIM:IOF, OTC:IOFNF) CEO Dr Tom Becker speaks to Thomas Warner from Proactive after the iodine producer released a Q4 2023 Corporate Update showing another year-on-year increase in iodine production of around 560 metric tonnes.
Becker attributes the growth to the consistent performance of their plants and the introduction of IO#9 in the latter half of 2023. Although IO9 faced initial challenges, it eventually aligned with the company's production expectations.
Becker discusses mixed results in iodine derivatives, noting that while some performed well, others lagged. He says Iofina adapted by redirecting certain iodine scheduled for derivatives to the market as crystalline iodine. The company is exploring new iodine-based derivatives to enhance their product line.
Looking ahead, Iofina is focusing on expanding its iodine production. The imminent construction of IO#10 underscores the company's commitment to growth. Becker highlights the strategic hires and plans to control costs and improve timelines for IO#10, aiming for a stronger initial performance than IO#9.
Becker goes on to discuss plans for 2024, describing the outlook as very good and saying that he remains focused on executing the company's strategy. The company intends to launch a new derivative for the Indian market in 2024. Becker remains optimistic about the company's future, noting stability in iodine prices and a favourable market outlook.
