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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 mdjbrownon Oct 19, 2023 4:31pm
324 Views
Post# 35691745

So with simple math and assuming WRX was able to hot leach

So with simple math and assuming WRX was able to hot leachsince 2019 and now, there should be 146,000 tonnes of KCl for each year of hot leaching waiting in the ponds ready to be processed.

Even with a minimum 2 years successful leaching, 292,000 tonnes at current potash prices is still a lot of revenue generation, so why is the share price trending downward as we approach the January 2024 production start up date?

The Aug 2023 presentation looks great, and with $200 million CAPEX to date, whats the hold up in share price appreciation?

https://westernresources.com/fileLibrary/publicFiles/WesternPotashInvestorPPT2023Aug-Web.pdf


Were the anticipated targets no where close to initial expectations during hot leaching? 

Something doesn't smell right so close to expected production dates!

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