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Gensource Potash Corp V.GSP

Alternate Symbol(s):  AGCCF

Gensource Potash Corporation is a Canada-based fertilizer development company. The Company is focused on developing resource opportunities with a specific focus on potash development. The Company operates under a business plan that has two key components: vertical integration with the market to ensure that all production capacity built is directed, and pre-sold, to a specific market, eliminating market-side risk; and technical innovation, which allows for a modular and economic potash production facility, which demonstrates environmental leadership within the industry, producing no salt tailings, therefore eliminating decommissioning. Its projects include Tugaske Project, Vanguard Area and Lazlo Area. The Vanguard Area is 100% owned in central Saskatchewan, located 170 kilometers (km) South of Saskatoon, 150 km North-West of Regina on a provincial highway system. The Lazlo Area is located in central Saskatchewan.


TSXV:GSP - Post by User

Comment by bobbythebakeron Feb 13, 2023 5:13pm
154 Views
Post# 35283951

RE:RE:Another Insider Purchase This Week

RE:RE:Another Insider Purchase This WeekThe stock options are actually a subtle topic.  Several of the GSP execs had as many as 500,000 or 1,000,000 options at 8 cents.  That would have required $40k-$80k in cash per person.  Worse, each person would have had to pay taxes on the difference between the $0.08 option price and the $0.14 share price at the time, so maybe a $50k-$100k per person cash outlay when all was said and done.  And with GSP trading 70k shares a day, there's certainly not a market to sell 1mm shares and pocket the after tax difference.  Not to mention the optics of execs selling is never great, especially in the midst of a major financing.  So instead of showing support for the company at a measly 8 cents a share, insiders chose to show support for the company by purchasing $5k-$20k shares on the open market at a substantially higher 14 cents, but spending only 10-20% of the required option outlay.  If this isn't doing right by current shareholders (of which these insiders are in spades), I don't know what is.  This company may do things the long way, and the hard way....but it seems plain to me their aim is always to do them the right way.
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