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Western Resources Corp T.WRX

Alternate Symbol(s):  WTRNF

Western Resources Corp. is a Canada-based 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 Milestone Project is located approximately 35 kilometers southeast of Regina in Saskatchewan, Canada. The project includes approximately 84,557 acres of Crown held Mineral Leases and approximately 65,305 acres of acquired Freehold Leases. The Milestone Project is constructing Phase I of a potash mine. 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 exploration program. The Company has no mineral production that yields any revenue.


TSX:WRX - Post by User

Comment by mdjbrownon Feb 19, 2021 9:43pm
199 Views
Post# 32617172

RE:RE:Latest financials out on SEDAR

RE:RE:Latest financials out on SEDARAgree Classicact

The difficulty in obtaining financing may be due in part to the large amounts required to settle all those unpaid bills.   It might be close to $75 million just to get squared away, and at a .17 cent share price, that is a lot of dilution.

Makes you wonder who was in control of operations prior to December 31, 2020, and why a change was needed.

Interesting WRX has not promoted the dutch mystery dredge as of yet, and although I am sure there is a good reason, lets hope they start harvesting KCl sooner than later, for a much needed revenue stream.

There are local guys out there who can likely help WRX with processing and loadout equipment, so fingers crossed.

 




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