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Iofina PLC (AIM:IOF, OTC:IOFNF) CEO Dr TomBecker speaks to Thomas Warner from Proactive after publishing aproduction update for the first half of 2023 - a period that includedthe very early phases of the startup of its latest IOsorb productionplant, IO#9.
Dr Becker gives anoverview of the first half before going on to discuss how IO#9 hasbeen performing during the post-period. He acknowledges that the plantrequired more expense to set up than previous examples due to what hedescribes as unique challenges in water management and adverse weatherconditions.
He also addresses adecision to alter the company's credit arrangements despite notcurrently making any of the facilities available. The $2.7 million and$1.66 million term loans, which had not been utilized by Iofina, havebeen replaced by a $4 million term loan with a drawdown period opennow through to July 1, 2024 to be used for IO#10 expenditures andother Capex projects as appropriate. Dr. Becker re-emphasises thecompany's focus on growth, saying that despite IO#9 "stillramping up" he's currently "very focused on negotiationsfor our next iodine plant."
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