Executive Summary
Iofina plc is the holding company of a group of companies involved in the exploration and production of both iodine and natural gas which has been discovered on acreages which the Group has acquired, or is currently acquiring, in the state of Montana, USA. The Company has named its discovery the Atlantis Prospect. The natural gas co-exists with formation water containing abnormally high levels of dissolved iodide. Iodine is a rare mineral, which the US currently imports to meet growing domestic demand from pharmaceutical and industrial manufacturers. The leases held by the Group give it the right to explore, drill and produce both iodine and natural gas. The Directors believe that the dual revenue streams of iodine and gas, together with the relatively low cost extraction process, will create an attractive business model with substantial strategic value.
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