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WESTERN POTASH CORP T.WPX

"Western Potash Corp is engaged in the acquisition, evaluation, and exploration of mineral properties containing potash in Western Canada. The Company holds interests in the Milestone Project located in Southern Saskatchewan."


TSX:WPX - Post by User

Comment by Aim2smiteon Mar 13, 2017 7:33pm
353 Views
Post# 25974131

RE:RE:RE:What has this company been doing since 2007?

RE:RE:RE:What has this company been doing since 2007?Curvature: I like intelligent and constructive conversation. The water contract was signed in 2012, before the current management took over. The 1/2 mil rent does seem excessive but I am not in any position to judge if it is a necessary evil in order to attract smart money or JV partner. Most junior managments do try to milk money from the companies. My observation is that the managment of this company is relatively less reckless relative to other juniors. Evrything is all relative, I guess. They have about 77 million on the book for the milestone property. This is the money that was already spent and as a result, there is a sizable proven reserve of potash in the property. 90% of the juniors in the venture exchange  can not even get any proven reserve before they run out of money. Regardless of how reckless and stupid the management was and is, Western Potash still has a NAV of almost 34 cents per share and no debt. Going forward, whether the NAV can be reflected on the stock price will depend on how the managment runs the company. It has yet to be proven. I put my money where my mouth is. I still consider this junior presents a very attractive risk reward opportunity and continue to hold a sizable long position on it. GLTA
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