15 Nov Cadiz Releases Q3 Shareholder Newsletter
The latest edition includes a summary of industry headlines and media coverage from the quarter, a letter from the CEO, content and images from the Company’s corporate blog, a Fall harvest update, social media material, and updates on growth at the Cadiz Ranch.
Cadiz President and CEO Scott Slater said, “During the third quarter, California remains mired in a drought and continues to face water supply uncertainty.
“Last week, Southern California’s regional water wholesaler declared a drought emergency and urged its members to conserve their available water supply. This announcement came on the heels of a shortage declaration on the Colorado River by the federal government and Governor Newsom’s statewide drought declaration. The pressure on California’swater system couldn’t be clearer and the impacts are expected to be felt most intensely by disadvantaged communities with limited opportunities for supply diversification.
“Our management team remains focused on purposeful investment in our assets to ensure we stand ready to meet California’s needs. We believe storage, especially groundwater storage, will be a high priority as an important tool to prepare for future drought and climate change uncertainty. Cadiz continues to be one of the only Southern Californiaaquifer storage opportunities that maintains a surplus condition and that can offer multiple access points.
“We have also moved ahead with efforts to convert the Northern Pipeline for water conveyance between communities in need. Technical study and engineering work has validated our earlier expectations that the Northern Pipeline could convey approximately 25,000 acre-feet (enough water for up to 200,000 people) in either direction or as a vehicle to trade and swap or store water between communities.”
The current magazine and previous issues are available at cadizinc.com/investor-relations/.
If you are interested in learning more about the Company’s business operations or would like to receive notices from the Company, please visit cadizinc.com/investors.