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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 Dec 09, 2021 6:15am
117 Views
Post# 34213470

RE:GSP

RE:GSPRemember Stockwatcher, rounding up CAD$471mmm for its first project is no mean feat for an explorer.  Every step of the way has taken time:  the environmental assessment took years (and that was just to be classfied as "not a development" avoiding the full EA process!), finding the right partners, debt due diligence, Euler Hermes insurance, the LSE listing....  And with temps at -6C as I pen this post, Gensource is likely in no rush to slam home a financial close and start paying interest on the debt through the dead of winter.  I think we should take heart that just 7 weeks ago, GSP's board/management loaned the company $2mm of their own money (while HELM loaned $5mm) to keep the process moving.  Obviously all knew at the time GSP would not be wrapping up financing in the next month or two, otherwise what was the $7mm for?  Yes, the stock price has pulled back here, but we all know no stock goes straight up, especially as fast as GSP did in October, nearly doubling in 30 days.  As GSP's equity contribution starts to take shape (or maybe even in anticipation of that), I believe the market will get excited about GSP again, as it realizes the deal is close to being done and the last bit of remaining uncertainty is vaporized.  From everything I have seen, this appears to be a highly likely outcome.
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