From the MD&A... Thought I'd post some highlights:
-The Company remains involved in ongoing negotiations with numerous parties, any of which could lead to equity and debt financings, joint ventures, takeovers or other types of merger transactions to advance the development of the Milestone project.
-Feasibility study confirmed that the asset is of sufficient size and grade to support primary and secondary potash solution mining for more than 40 years at an ultimate production rate of 2.8Mt/yr. The Study reports an after-tax project Net Present Value (“NPV”) of $2.44B CAD, with an Internal Rate of Return (“IRR”) of 18.6 % assuming a nominal discount rate of 10%.
-The Project has excellent access to all infrastructure, utilities, services, and is supported by a world class potash Reserve. Power, natural gas, water, and existing rail connections are readily available near the Project. All major technical and execution project risks have now been mitigated. Non-technical project risks, such as environment and political concerns, remain low (unlike AAA).
-As part of the execution of the agreement (btw WPX and Regina), Western paid the City of Regina a $500,000.00 Commitment Fee.