Intrepid Announces the Successful Completion of the Eddy Shaft Brine Extraction Project - Seite 2

Project Summaries at HB
Increasing production at the HB solar solution mine is key for improving Intrepid’s overall potash production profile and unit economics. Successfully completing the Eddy Shaft Brine Extraction Project is an important near-term bridge to higher production until we commission the two remaining projects, Phase Two of the HB Injection Pipeline Project and New Replacement Extraction Well. Both remaining projects are expected to be commissioned in the first half of 2024 and are designed for long-term operational lives.

Phase Two of the HB Injection Pipeline Project is the installation of an in-line pigging system to clean the inside of the pipeline to help ensure consistent flow rates. Upon completion of Phase Two, we anticipate operating at the highest brine injection rates in company history which will help maximize brine availability in the HB cavern system. IP30B replaces the failed extraction well, IP30A, and will initially target approximately 330 million additional gallons of brine in the Eddy Cavern that has been measured at over 9% KCl concentration. This additional brine is at depths that are too low for access by the Eddy Shaft.

For detailed summaries on our potash projects and assets, we encourage investors to view our recent presentation, “Overview of Intrepid’s Potash Operations,” which can be assessed from the Investor Relations tab at intrepidpotash.com.

Notes
(1) To date, we’ve extracted approximately 34 million gallons of brine with an average KCl concentration of approximately 9.2%.

(2) The estimated range of potash product tons is dependent on the exact brine grade, brine volume, and evaporation scenario. The Eddy Shaft brine is expected to be the primary source of potash production for the second half of 2024 and early-2025.

About Intrepid
Intrepid is a diversified mineral company that delivers potassium, magnesium, sulfur, salt, and water products essential for customer success in agriculture, animal feed and the oil and gas industry. Intrepid is the only U.S. producer of muriate of potash, which is applied as an essential nutrient for healthy crop development, utilized in several industrial applications and used as an ingredient in animal feed. In addition, Intrepid produces a specialty fertilizer, Trio, which delivers three key nutrients, potassiu7m, magnesium, and sulfate, in a single particle. Intrepid also provides water, magnesium chloride, brine, and various oilfield services.