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Western Resources Corp T.WRX

Alternate Symbol(s):  WTRNF

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.


TSX:WRX - Post by User

Comment by oldsalt72on Sep 21, 2023 6:56am
109 Views
Post# 35646864

RE:RE:RE:RE:not sure whats up with the share price

RE:RE:RE:RE:not sure whats up with the share priceThere is still a lot of "old thinking" in this project. The old way has not been particularly successful, as demonstrated at Intrepid, having spent a lot of money on drilled caverns. (looks like most of their production is still out of the flooded mine). They have collaborated with all the old experts, and, presumably, continued the old mistakes of trying to get vertical development through the lower grade ore with saturated brines. Threading the needle is easy, getting production is harder. 
While pond crystallization works at Belle Plaine, this is a completely different operation, prone to precipitation of salt with eveporation from the pond and the submerged combustion heating, elevating NaCl levels. 
This project should not be lost. The essential elements are in place but, in my opinion, it needs a major rethink before it produces significant production.
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