Western Resources Corp T.WRX

Alternate Symbol(s): WTRNF

Chemicals Basic Materials

Western Resources Corp. is a Canada-based resource company. The Company is mainly focused on the development of its Milestone potash project (the Milestone Project) in Canada owned by its subsidiary, Western Potash Corp. (Western Potash). The Milestone Project is located approximately 35 kilometers southeast of Regina in Saskatchewan, Canada. The project includes approximately 84,557 acres of Crown held Mineral Leases and approximately 65,305 acres of acquired Freehold Leases. The Milestone Project is constructing Phase I of a potash mine. The Company completed the drilling of 11 potash exploration wells on project property, completed several hundred-line kilometers of 2D seismic study, and conducted a 3D seismic study during the exploration program. The Company has no mineral production that yields any revenue.

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Western Resources Corp

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Comment by goldpeton Apr 12, 2017 4:19pm

139 Views

Post# 26114642

RE:RE:RE:RE:RE:RE:RE:RE:RE:On the bright side, at least the re-org was not

If the Chinese do control this Company's resources and have the last say in how it is run then we all may be screwed as investors.. Any future venture they choose to enter may be handled the same way as the potash has been. Dead money until they want to begin production.

Haven't they given a timeline on when Milestone would be in production? To your point it could be on hold indefinitely. It's my understanding these guys have been around for ten years.

This $80 million may be used just to purchase more resource properties that just sit and do nothing basically, like the potash has. How is shareholder value enhanced if the resources they purchase aren't sold at any particular point in time?

If they use the $80 million to enhance shareholder value now, then I'm all for it. Anything else I'm skeptical at best.

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