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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 Jan 30, 2021 7:03am
319 Views
Post# 32427511

RE:RE:RE:RE:RE:RE:no idea on this one...strange it is during the financing

RE:RE:RE:RE:RE:RE:no idea on this one...strange it is during the financing On January 24th, Mike moved 5,567,224 shares from of his holding companies (CI Holdings) to another one of his holding companies (MGCI Holdings.)   No big deal.  If you look around SEDAR and SEDI over the last month, GSP has been doing a lot of tidying up.  My guess is Alton Anderson has arrived in and is getting things in order for a company that has been trying to accomplish great tasks with a thin crew and little time to attend to all the details.  So to me, it's not strange these filings are coming out during the financing.  In fact, I think it's precisely because of the financing that GSP is now taking a second look at how their placements have been reported and what the share structure is.  As for the share price, to be honest, I expected it to gravitate to somewhere near today's 19 cents when the private placement came out, because that's what stocks tend to do in these instances.  There are always going to be a certain number of people looking to trade out existing shares for shares they will be acquiring, especially when the share price is higher than the offering.  And the offering price becomes a number everyone knows, so it it's hard to get it out of people's brains.  It seems to me the volume we see bid at around 19 cents is actually a good thing, someone willing to sit in and buy the shares of those flippers, even after as many as 55mm shares are to be bought 2 weeks from now.  That's potentially a lot of smart money who like the price at 18-19 cents against the 1.6mm shares we saw traded on the TSX over the past 2 weeks.  I empathize with those weary of waiting for GSP to reach its next financing milestone.  But I would rather have a company that is moving big pieces behind the scenes (hiring a new CFO, putting together its largest ever placement at its largest ever share price, working with German government to guarantee half the project debt) while otherwise keeping its cards close to the vest, vs. the companies who have little else to do other than promote their story.  I suspect that along with closing the Private Placement, February will also bring us some news on the Tugaske financing, and the share price will start marching to a new tune one way or the other.
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