Cadiz, Bureau of Reclamation Ink Deal to Evaluate Mojave Groundwater Bank
CDZI sits 62% above its 52-week low of $2.661 on light trading volume (0.1× avg).
Summary
Cadiz Inc. has signed a funding agreement with the U.S. Bureau of Reclamation to evaluate its Mojave Groundwater Bank project. This agreement supports technical and regulatory review activities, and assesses the potential for future federal investment in the project. This is a significant step forward for the company's major water infrastructure asset, which aims to enhance water supply flexibility and drought resilience in the Southwest. Initial evaluation tasks are set to begin immediately.
At the time of this announcement, CDZI was trading at $4.30 on NASDAQ in the Industrial Applications And Services sector, with a market capitalization of approximately $361.6M. The 52-week trading range was $2.66 to $6.96. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: PR Newswire.