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December 3, 2012
16:42 EDTIPIIntrepid Potash provides updates on other capital projects
Intrepid Potash's North compaction project is also progressing on schedule. This granulation plant will upgrade and expand the existing North facility and is designed and timed to accommodate production from both the West facility and production from the HB Solar Solution mine project. The budgeted capital investment for this project is $95M to $100M, of which approximately $39M had been invested through October 31. The company expects to bring this project on line in phases beginning in the middle of 2013. Under the Moab cavern-development project, the company has drilled three additional horizontal wells comprised of 14 separate laterals and created a completely new cavern system. Approximately $18M has been invested in this project through October 31 and positive returns are already being seen. The company's overall 2012 capital investment program remains on track with approximately $196M of investment deployed through October 31 all the while maintaining a healthy balance sheet. As of October 31 the company had cash and investments of approximately $142M, with availability of $250M under a revolving credit facility, and the funding of the company's $150M senior notes is scheduled for April 2013.
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July 31, 2014
09:36 EDTIPIIntrepid Potash upgraded to Sector Perform from Underperform at Scotia Capital
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July 30, 2014
16:56 EDTIPIIntrepid Potash announces resignation of CFO Dave Honeyfield
Intrepid Potash announced that Dave Honeyfield, current President and CFO, will be resigning from Intrepid effective August 29, in order to pursue an opportunity with a newly formed company in the oil and gas business. Bob Jornayvaz, Intrepid's co-founder, current Executive Chairman and largest shareholder, will become President and CEO. Jornayvaz will be reassuming the leadership role he held from the company's inception in 2000 through 2010. Brian Frantz, Intrepid's VP - Finance, Controller and Chief Accounting Officer, has been named interim CFO, as the company performs a search for this position.
16:54 EDTIPIIntrepid Potash reports Q2 EPS 7c, consensus 1c
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