LONDON (ShareCast) - AIM-listed Iofina, a specialist in the exploration and production of iodine, has amended its application for a permit to market freshwater in eastern Montana.

In an update issued on Monday, the company said it had elected to amend its water permit application in an effort to expedite its plan to market approximately 200,000 barrels per day of freshwater in eastern Montana.

It said that the decision was based on discussions with the Montana Department of Natural Resource Conservation (DNRC) Water Resources Office following its receipt of the Iofina’s water right permit application.

The company's revised application is to develop a water depot for 3,800 acre-feet per year based on customers' needs at the current planned location. The company said that it had secured strategic locations for the first water pumping station and place of sale for its initial terminal and recently submitted an amended application to reflect this.

After discussing the status of the application with the central Water Resources Office, Iofina said it was informed that the department removed the original application from its website, but did not terminate the original application. It said that the original application remained valid pending receipt of the amended application.

Iofina has iodine production operations in Texas, California, Montana, Oklahoma and Wyoming.

Its share price was up 6.29% to 190p at 09:58 on Monday.
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