RE:Why a potash company dabble in real estate?cf, at one time investment in Vancouver real estate was golden, but it depended hugely on the entry point in that cycle.
I get the impression timing may not have been advantageous when using some of the $35 million credit facility for real estate instead of getting this mine producing. Even at $200 a ton in sales, revenue generation can go a long way in working with creditors.
Problem is now, there are 10's of millions owed to those who built the mine as it sits today, so how do those guys get paid, before they agree to continue building the remaining 17% to complete this phase of the project and in turn creating revenue for WRX
Tough spot to be in, as any leverage appears to be gone