Friday, November 13, 2015

Canada: Polaris Infrastucture CFO Gives Company Update

Polaris Infrastructure Inc. CFO Shane Downey Interview Podcast (MidasLetter)

Shane Downey, Chief Financial Officer (CFO) of Toronto-based Polaris Infrastructure Inc. discusses the revitalization of his company’s capital structure, and planned dividend payments in 2016.

"For the time being, we remain focused in Nicaragua and on geothermal. We own rights to an exploration and development property, the Casita project, and the company has invested, historically, $10 million to date on Casita, and we think that the geophysics from that on a preliminary basis have looked very favorable, and so the company is actively in negotiations, discussions right now, with the World Bank for drilling capital to further explore that resource and get it to a commercial stage. And then after that, we’re allowed to proceed and proceed to our satisfaction. At that point, we could then look to build full power plants and raise project level financing at that point."

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