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Western Resources Corp T.WRX

Alternate Symbol(s):  WTRNF

Western Resources Corp. is a resource company. The Company is mainly focused on the development of its Milestone potash project (the Milestone Project) in Canada owned by its subsidiary, Western Potash Corp. (Western Potash). The Company owns a 100% interest in the Milestone Project located in the province of Saskatchewan under various property leases. The Milestone Project includes approximately 84,557 acres of Crown held mineral leases and 65,305 acres of acquired freehold leases. The Company is constructing Phase I of the Milestone Project. The Company also invested in real estate development projects in the Greater Vancouver Area through limited partnerships. The Company completed the drilling of 11 potash exploration wells on project property, completed several hundred-line kilometers of 2D seismic study, and conducted a 3D seismic study during the project exploration program. The Company has no mineral production that yields any revenue.


TSX:WRX - Post by User

Bullboard Posts
Comment by frostbackon Feb 11, 2020 10:05am
239 Views
Post# 30673299

RE:RE:RE:operations update?

RE:RE:RE:operations update?Solution mining is not as simple as drilling a well and sucking the mother liquor out with a straw. There are many challenges with "S" curve well profile without the added complication of a long reach horizontal. In theory one would expect horizontal to be a natural progression in the industry, yet to date this method has not been successful - one other operation that use horizontal drilling is not a 'greenfield' project but rather extracts from existing flooded mine workings. Formation creep, roof instability leading to cavern collapse, loss of cavern control due to Carnallite and plugged wellbores are common in conventional solution mining - this is all multiplied when a horizontal wellbore is introduced. All very valid reasons why the majors have chosen to stick with the proven as there are too many risks and very little added benefit to developing a horizontal solution mining method. This is a very sweet dream if all the challenges can be overcome, but it seems to me that the major players involved expect 100% operational success right out of the gate. Expectations need to be adjusted and a few dilutions can be expected prior to any positive results. I remain hopeful that this method can be proven and in the meantime am happy making money off of the bounces as long as the volume will support such trades.
Bullboard Posts