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FULL YEAR: INTREPID POTASH'S SALES DOWN 26%, REPORTS A LOSS
Source: Intrepid Potash news release

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Intrepid Potash Inc. (Intrepid) (NYSE:IPI) today reported its financial results for the fourth quarter and full year 2016.

"2016 was a transitional year for Intrepid, as we streamlined our business to focus on lower-cost solar potash and our specialty Trio product and revised our debt instruments to better support our current operations," said Intrepid's Executive Chairman, President and CEO Bob Jornayvaz. "The improved selling environment for potash that began towards the end of the third quarter has continued, as we saw healthy demand and improved pricing during the fourth quarter."

Jornayvaz continued, "As we look into 2017, we expect to see the full benefit of recent potash price increases and the margin benefit of solar potash tons. We have placed Trio tons in strategic locations both domestically and abroad and believe we are well-positioned to capitalize on a strong spring season.

"Moving forward, we remain focused on selectively selling potash into high-margin opportunities, expanding our global presence for Trio, improving our overall cost profile, and optimizing our asset portfolio."


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