RE:RE:Benzinga Interview with Mike FergusonNo special connections, Twiggy. This one was posted on Twitter by Gensource, whom I follow. I might email or call the company once a year with a question, but otherwise I just read the press releases, tweets, SEDAR filings, corporate presentations and corporate email updates (anyone can sign up for these at the bottom of any GSP website page, though they are mostly just emails of the news releases.) And for good measure I google Gensource most days to see if someone has mentioned them in an article.
Honestly, I think GSP does a decent job disseminating the information they put out, especially conisdering how honest-to-goodness busy this tiny staff has been inventing and funding a breakthrough 1/2 billion dollar mine, while getting 2 more on the back burner. If there's a frustrating part, it's likely what you mentioned in your email yesterday morning. I have found GSP keeps things extremely close to the vest. Unlike most juniors, they take great pains to avoid promotion, and over the years, seems to have learned they prefer not to set hard deadlines, as the landscape can shift quite a bit before a project goes under construction. Nowadays, by the time they actually announce a potential development, it's usually when it's already a done deal. Partially I believe this is possible because GSP has almost competely stopped going to market for secondary offerings the past few years, financing instead through royalties, parternships, covertible debt and options exercises. I believe this approach is favored by GSP's financial and project partners, who likely all have signed non-dislosure agreements with GSP to keep things quiet while they are under negotiation.
I, a 6.5 year long shareholder, am not imune to being frustrated by this conservatism at times, knowing GSP has some great prospects that are coming together, while GSP proceeds extremely cautiously, even in an interview like yesterday's. Honestly, I was surprised (and pleased) to hear Mike even mention Module 2 and Module 3 likely to have some news out this year. We know from reading/listening carefully to GSP these have been in the works for some time now, but that GSP has been loathe to give any details about them. So when Mike actually tells us there are 2 more that are going to be named this year, you better believe they are with legit partners (learned that lesson with EGME), and my suspicion is, with clear funding paths that will move much faster than what we just went though, paving the way with Tugaske.
There is the old saying "It's darkest before the dawn." Not that things are by any means dark for GSP today, but I think they are *so* close to closing the deal on their first module and proceeding with 2 more, that it's actually harder to wait for the finale now, then it was when we knew there were years of lengthy environmental and financial steps ahead, and back when Potash/ton was at the bottom of the cycle lingering at $200/ton.
Take heart Twiggy! I know you've been on this ride for about as long as I have. I have a sense there is going to be all sorts of news coming out this year, in a way we haven't seen in the past, as GSP opens the floodgates on its backlog of news, which has long been awaiting a financial close to be released. Or in the recent words of a recent tweet by Mike Ferguson, I too suspect "2022 is going to be fun!"