Talked to Amalia (IR Manager) todayI spoke to Amalia (IR Manager) and discussed cash preservation with her. As I was going through their financials for Q1'03, Q2'03 and Fiscal 2012, I noticed that their capex spending was more in the first six months for this year than all of fiscal year 2012. I inquired about this and she attributed this to drilling water wells and engineering plans.
I raised the issue that the marketplace might be concerned about the current cash burn rate given the high capex spend, e.g. $5 to $6mm per quarter since 2013. She said they are doing everything they can right now aside from contractual obligations to cut back on discretionary spending. They are discussing cost reductions actively during board meetings which are now taking place more frequently.
I also asked about her thoughts on Mosaic CEO's comments yesterday regarding potentially looking for undervalued North American potash assets and she says they would be more than welcome a phone call from Mosaic CEO regarding an opportunity.
Aside from calling Amalia today, for the past few days, I've also sent emails to Potash Corp, Agrium, Mosaic regarding an attractive investment opportunity in Karnalyte and key investment highlights to their investor relations departments. I just want to bring the company to their attention in case any of them is in an acquisitive mode.
I hope others on this forum can get proactive and do what they can to help the stock.