Cadiz Inc. engages in the acquisition and development of land and water resources. The company’s agricultural operations are confined to limited farming activities at the Cadiz Valley property. The company owns 45,000 acres of land in three areas of eastern San Bernardino County, California. Water Resource Development The company’s portfolio of water resources are located in proximity to the Colorado River and the Colorado River Aqueduct (CRA), the principal source of imported water for southern California, and provide the company with the opportunity to participate in various water supply, water storage, and conservation programs with public agencies and other partners. The Cadiz Valley Water Conservation, Recovery and Storage Project (the Project) The company owns approximately 34,000 acres of land and the subsurface strata, inclusive of the unsaturated soils and appurtenant water rights in the Cadiz and Fenner valleys of eastern San Bernardino County. The aquifer system underlying this property is naturally recharged by precipitation (both rain and snow) within a watershed of approximately 1,300 square miles. The Project is designed to supply, capture, and conserve various gallons of renewable native groundwater. The Project also offers participants the ability to carry-over their annual supply and store it in the groundwater basin from year to year Pipeline Asset The company holds ownership rights to a 96-mile existing idle natural gas pipeline from the Cadiz Valley to Barstow, California that would be converted for the transportation of water. Agricultural Development Within the Cadiz/Fenner Property, 9,600 acres have been zoned for agriculture and the company has developed a total of 1,920 acres of the property for agricultural operations. The infrastructure includes seven wells that are interconnected within a portion of this acreage, with total annual production capacity of approximately 13,000 acre-feet of water. Permanent crops include 160 acres of vineyard used to produce dried-on-the-vine raisins and 440 acres of lemon orchards. Additional Eastern Mojave Properties The company also owns approximately 11,000 acres outside of the Cadiz/Fenner Valley area in other parts of the Mojave Desert in eastern San Bernardino County. Its primary landholding outside of the Cadiz area is approximately 9,000 acres in the Piute Valley. This landholding is located approximately 15 miles from the resort community of Laughlin, Nevada, and approximately 12 miles from the Colorado River town of Needles, California. Additionally, the company owns acreage located near Danby Dry Lake, approximately 30 miles southeast of its Cadiz/Fenner Valley properties. Business Strategy The company’s business strategy is to pursue the development of its landholdings for their highest and best uses. History Cadiz Inc. was founded in 1983.
cadiz inc (CDZI:NASDAQ GM)
550 South Hope Street
Los Angeles, CA 90071
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