Cadiz, Inc. · NASDAQ:CDZI
Cadiz — Investor Presentation (November 2017)
13 slides from Cadiz's investor presentation, November 2017
Slide 1: Cadiz Inc. Corporate Presentation
Cadiz Inc. Corporate Presentation November 2017
Slide 2: Cadiz Valley
Cadiz Valley ✸ 1,300 square-mile watershed in Mojave Desert. ✸ Aquifer system holds approx. 20 million AF, like Lake Mead. ✸ Natural recharge 32,500 AF/year. ✸ Cadiz Inc. largest private land-owner. ✸ Prolific groundwater resource provides irrigation for agricultural operation. 2
Slide 3: Problem: Loss of Water at Dry Lakes
Problem: Loss of Water at Dry Lakes ✸ Cadiz/Fenner Watershed terminates at dry lakes where groundwater is presently evaporating at a rate of approximately 32,000 acre-feet/ year. Bristol Dry Lake Crust Beneath Dry Lake Surface ✸ Groundwater beneath dry lake surface is highly saline (10 times the sal
Slide 4: Solution: Conservation & Recovery
Solution: Conservation & Recovery Science & field work demonstrate potential to capture and conserve groundwater before it reaches dry lakes. Put that fresh water to beneficial use. Better manage the basin for storage. 4
Slide 5: Cadiz Water Project
Cadiz Water Project Innovative and Sustainable Water Source for Southern California Phase 1 Wellfield on Cadiz property will capture & conserve groundwater. Via pipeline, convey average of 50,000 acre-feet/year over 50 years. Deliver water for 400,000 people in 6 Counties. No environmental i
Slide 6: Phase 1&2 Connect CA's Major Water Transportation Routes
Phase 1&2 Connect CA’s Major Water Transportation Routes 6
Slide 7: Facilities, Costs & Construction
Facilities, Costs & Construction o Phase 1 build-out ~$250M, creates & supports 3,100 jobs. Well field and power facilities Treatment facilities 44-mile conveyance & related RR improvements Aqueduct intertie Monitoring facilities o Phase 2 (cost $TBD), creates and supports 2,900 jobs. Co
Slide 8: Project Development
Project Development 8
Slide 9: 2017 in Review
2017 in Review ☀ US & CA political dynamic changes following Presidential election ☀ CA water market – ongoing debate over how to meet long-term supply- demand imbalance ☀ Cadiz Water Project completes important milestones • Apollo debt transaction for Construction Finance. • US BLM concludes projec
Slide 10: Final Steps
Final Steps Final Contracts ☀ Participating agencies finalize contracts Metropolitan Water District transportation ☀ Terms and conditions to move water in the Colorado River Aqueduct Construction Permitting & Planning ☀ Engineering design; contractor selection ☀ CA and County ministerial permi
Slide 11: Phase II
Phase II Cadiz Water Project Phase II ☀ What is it? – proposal to import and store surplus water on the Colorado River or CA State systems underground at Cadiz. Return stored water in future dry years. Capacity = 1 Million AF. ☀ Who participates? – State and CR contractors with excess supplies in
Slide 12: Timeline
Timeline 2018 2019 2020 2021 Contract negotiations Metropolitan WD application Engineering & Planning Final Construction Permits Phase 2 Permitting Phase 1 Construction Phase 2 Construction 12 (Estimated)
Slide 13: Financials
Financials (As of 9/30/17) Shares Outstanding 22.8 M Working Capital $14 M Debt – Sr. Secured * $61.3 M Debt – Convertible ** $70.3 M Lease buy-back Provision *** $14 M * Senior Secured Mortgage - 8% Interest (6% PIK and 2% cash quarterly), Maturity in May 2021 or “Springing Maturity Date” 91 days p