Article in the Saturday Globe and Mail mentioning Polaris For Vancouver-based Polaris Minerals Corp., a maker of sand and gravel concrete aggregates destined entirely for the U.S. market, lower oil prices will mean lower shipping fuel costs and higher profit as U.S. revenue is banked back home.
But lingering investor worry has also hit the company’s stock price, which has tumbled 20 per cent from its level two weeks ago. Amid the fear, investors have shifted to its larger multinational rivals, said Polaris chief executive officer Herb Wilson. That would be a problem if Polaris had to raise money. But it is debt free and doesn’t forecast a need to do so for at least another two years.
“Extreme volatility doesn’t help anyone run their business, whether it’s up or down,” Mr. Wilson said. “But compared to the global recession of 2009-10, I think this is just a minor aberration. The market will correct.”