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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

Comment by frostbackon May 02, 2022 1:09pm
244 Views
Post# 34648075

RE:WRX on the roll

RE:WRX on the rollCalgaryfine – great optimism and I hope you are rewarded with out having to wait multiple years.

Need to produce to take advantage of off take agreement?  As far as the public knows the downhole technology has not been fully proven to demonstrate its advantages as advertised?  Can they demonstrate the ability to produce a healthy amount of tonnes at a reasonable cost?
High price of potash is not sustainable in the long run?
Financing at predatory rates + percentage of sales?
All the unknowens are hazey at best and the knowens (financing) are cause for concern.

Its a shame as the ore this company sits on top of has a higher % of K than other mines in the area in addition to a higher formation temperature which boosts production economics.  Is it reasonable to expect another year and perhaps more prior to any indication of success and profitability?

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