Be RealisticAs usual, no response containing any merit from the gang with their head in the clouds.
Here's a little reality check for those who are willing to take the rose colored glasses off for even 10 seconds.
If an industry peer with an almost identical outstanding share count looking to accomplish an almost identical modular horizontal selective solution mine to extract identical potash in Saskatchewan is compared to Gensources proposed model what share price target would be fair when comparing the two company's?
Western Resources has a very experienced front end, have allocated more than $100 million on mine construction, approx 408 million shares outstanding, approx $160 million in recently raised funds, a mine and processing facilities nearing completion, caverns that are built and circulating brine, hope to have first potash production by mid 2023, and has a current Market Cap of $96 million dollars.
Gensource has a very experienced front end, have allocated $0.00 on mine construction to date, approx 426 million shares outstanding, are currently relying on a $5 million HELM credit facility and a small Private Place that was recently extended due to slower than expected participation, a conceptual mine with no processing facility, no caverns built, hope to have first potash production by ? , and has a current Market Cap of $60 million dollars. I have not compared executive salaries, but would certainly be very interesting.
If I bought shares today, is it reasonable to think Gsp should have a M/C equal to Wrx given the vast difference in each companies current stage of construction and mine progress?
If you believe so, it would place a comparative maximum share price for Gsp at approx 22 cents, so I dont think the market is missing the mark!