Intrepid Potash shares rise after price hike
By Robb M. Stewart
Shares of Intrepid Potash Inc. climbed Thursday after the mining company raised the price of potash in all locations and for all product grades.
In morning trading, the stock was up 9.5% to $ 32.89. It has increased 36% so far this year.
Intrepid said Wednesday night it was increasing its potash price by $ 90 a tonne in response to recent increases in potash prices on barges and inland warehouses. Intrepid is now listed at $ 250 a tonne above the 2020 summer fill price points, he said.
He also said that as of June 23, he increased his Trio price by $ 35 per tonne on all products and is now accepting Trio orders for third quarter delivery.
“The barge and inland warehouse potash markets have appreciated significantly over the past two weeks due to limited supply and the new posted prices reflect the increase in the spot market since our last price announcement,” said Bob Jornayvaz, Executive Chairman, President and Chief Executive Officer of Intrepid. executive. “The higher price of potash also increased the underlying potassium value of our Trio product.”
The company said a call to investors for the oilfields previously scheduled for June has been postponed due to expanding business plans and changing recycling opportunities for many operators requesting Intrepid services.
Write to Robb M. Stewart at [email protected]