"CADIZ, Calif. — Gazing out of a turboprop high above his company’s main asset — 34,000 acres in the Mojave Desert with billions of gallons of fresh water locked deep below the sagebrush-dotted land — Scott Slater paints a lush picture that has enticed a hardy band of investors for a quarter-century.
Yes, Mr. Slater admits, his company, Cadiz, has never earned a dime from water. And he freely concedes it will take at least another $200 million to dig dozens of wells, filter the water and then move it 43 miles across the desert through a new pipeline before thirsty Southern Californians can drink a drop.
But tapping cash, as opposed to actual water, has never been a problem for Cadiz. 'I think there’s plenty of money out there,' Mr. Slater said."
Nelson D. Schwartz reports for the New York Times September 24, 2015.
"Investors Are Mining for Water, the Next Hot Commodity"
Source: NY Times, 09/25/2015