Author Topic: IPI - Intrepid Potash - A new small FFH holding  (Read 1800 times)

FFHWatcher

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IPI - Intrepid Potash - A new small FFH holding
« on: October 18, 2017, 10:39:06 AM »
I don't think it has been discussed with FFH yet.
In March 2017 FFH participated in a secondary offering of IPI shares.
Intrepid's Potash sales are way down. Looks like they used equity to pay down debt and restructure a bit.
Looks like FFH took about a third of what was offered.
16,666,667 shares. 13% of shares o/s
$1.20 issue price
$20M investment (sprinkled it around to Brit, ORH, FFHL, etc.)

End of Q3 price of IPI $4.36 (Current price of IPI $3.83)
Unrealized gain at end of Q3 of $52M or 2.5x's in 6 months
Someone made a good (short-term) call


ourkid8

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Re: IPI - Intrepid Potash - A new small FFH holding
« Reply #1 on: October 22, 2017, 10:04:15 AM »
 It's great to see their investments starting to fire on all cylinders, eventhough this is a rounding error but it all adds up. 

I don't think it has been discussed with FFH yet.
In March 2017 FFH participated in a secondary offering of IPI shares.
Intrepid's Potash sales are way down. Looks like they used equity to pay down debt and restructure a bit.
Looks like FFH took about a third of what was offered.
16,666,667 shares. 13% of shares o/s
$1.20 issue price
$20M investment (sprinkled it around to Brit, ORH, FFHL, etc.)

End of Q3 price of IPI $4.36 (Current price of IPI $3.83)
Unrealized gain at end of Q3 of $52M or 2.5x's in 6 months
Someone made a good (short-term) call

John Hjorth

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Re: IPI - Intrepid Potash - A new small FFH holding
« Reply #2 on: October 22, 2017, 11:09:36 AM »
... eventhough this is a rounding error but it all adds up.

Calls for a smile, ourkid ... - and yes, compounding isen't linear.
”In the race of excellence … there is no finish line.”
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Txvestor

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Re: IPI - Intrepid Potash - A new small FFH holding
« Reply #3 on: October 23, 2017, 07:05:44 AM »
So true. Ask Pabrai 2016 v 2017.
It is linear only when viewed in the rear view mirror. Lol.
« Last Edit: October 24, 2017, 06:23:47 AM by Txvestor »