My inquiries and response from IR. Complete rubbish. IR is supposed to promote investment.
Hello Mr. Mapes,
I hope you were able to enjoy the holiday weekend. I am an investor looking into your company, and I was hoping to ask a few questions. I saw the recent news release about the SPAC launch, and it got me curious about the value of your expanding operations.
Are any of your products compatible with vertical farming? If not, are you planning expansion into more water soluble nutrient markets to adapt to agriculture changes?
Is Intrepid focused solely in evaporation pond extraction? Or with the potash supply crunch are you planning any expansion into other types of MOP/SOP supply?
Utah seems to be a growing region. Rio tinto and many other large scale mining companies are expanding in the region. Are you planning on expansion of your footprint in the state in order to utilize your current infrastructure which in turn would increase margins?
Is there any specific reason that you decided to use a SPAC to fund your next acquisition? Was it simply a lack of liquidity currently, and you’re planning on slowly buying back the business from the public? Are you simply reducing risk in the event that the potash market softens post-war?
It has been quite some time since the SPAC was listed with the SEC. Have you abandoned this project entirely?
In the details of the document you mention having a third party assess the potential of the future acquisition. Is this the potential underwriter you mention in the news release that has the ability to earn $30M in shares of the SPAC? May I ask if there is a specific firm that you have entrusted to do this work for you? Would this partner potentially purchase the acquisition as a proxy in order to prevent Intrepid from losing their acquisition target? I ask because I am curious as to how committed your company is to expansion and quickly acquiring targets in this ripe market.
What kinds of hurdles do you expect that could effect the completion of your acquisition?
I thank you for your time. Best of luck with your endeavours.
Response:
Thank you for the interest in Intrepid – unfortunately, we are now in our quiet period until after our Q2/22 earnings call.
I’m sure you’ve browsed our website (
here), but it does have some useful information and links to recent results/filings.
Best,
Evan