National Post Letter to The Editor from Mike Ferguson National Post published Mike's view on a recent article on Canadian companies not attracting foreign capital and meeting ESG investing standards in response to this article:
https://nationalpost.com/opinion/john-ivison-we-are-bleeding-capital-and-that-spells-big-trouble-report-warns
Here's the Letter to The Editor from Mike:
Investing in Canada
Re: ‘We are bleeding capital’ and that spells big trouble, report warns, John Ivison, Dec. 3
A National Bank report that suggested Canadian companies can’t attract foreign capital and still exceed ESG investing standards is off the mark.
To date, Gensource has attracted $280 million in foreign project debt, and another $50 million in direct foreign equity to develop its shovel-ready Tugaske modular potash project in southwest Saskatchewan.
European institutional investors understand the company’s strong ESG value proposition derived from the technological approach that Gensource is taking and are taking the lead, ahead of Canadian funds, investing in innovation right here in Canada.
The Tugaske project represents the pinnacle of Canadian innovation: a food security project that is environmentally sustainable, high-margin and scalable, while providing a critical mineral to the food production industry, all at the lowest end of the cost curve. Once in production, Gensource will contribute to increasing Canada’s export revenues, tax and royalty revenue and create employment, all while setting a new environmental standard for the fertilizer industry.
With support to date from its local community and foreign investors, Gensource hopes Canadian pension funds and institutional investors are not left behind.
Mike Ferguson, CEO, Gensource Potash