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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

Post by griffen1on Apr 19, 2022 9:38am
250 Views
Post# 34612770

Where will WRX go?

Where will WRX go?Western Resources represents an interesting opportunity. Assuming Vantage Chance did their due diligence, the value of this company sits around $0.37 per share. Based on a $80 million purchase of 54% of the company. Hopefully most of that $80 million dollars will go towards the completion of their mine. And not be overly diluted by bad spending. Bill xue & Company have a pretty poor track record in the six years he's been CEO. I don't know how anybody could possibly lose money in the Vancouver real estate market. But he has managed to do that on several deals. With the Chinese connections this company has you would think that they would have performed better. Although Vantage Chance is a black hole for it's Finance sources, I assume it comes with some smarter management opportunities in the future for this company.
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