RE:RE:Here is what $200 million gets a potash juniorsw248, true valuation of these novel horizontal selective corporations is difficult as production numbers for every single one of them are based on theoretical assumptions. Add that to widely varying tangible assets of each company, and its a wild west show out there.
I think those with deep pockets are now starting to realize although very intiguing in theory, realistically there is still more work needed in capturing this novel technology.
Western has now spent $200 + million actual CAPEX dollars to date on their mine and the first round of hot leaching in 2019 resulted in bringing in a bunch of engineers to try improve downhole dynamics. Question is, were they able to improve production rates as there are rumours that even after the most recent hot leaching program, the amount of KCl may be much less than expected?
PADCOM spent a mere fraction of that amount on their mine, and they report production start up is right around the corner even though they have been at it for a few years now.
Whether it is PADCOM, Gensource, Buffalo, Continental, Evolution, or others chasing this dream, science is science and until they figure out a way to tweak that science, it may be tough sledding to achieve viable results
Many junior miner execs have promoted the heck out of this green technology making a very lucrative living for the last decade without actually ever drilling one operational cavern in that time, but now that 2 have given it a shot using wide ranging spectrums, (huge budget vs shoestring budget) everyone is anxiously waiting on those results.
I expect these companies will be very limited with negative news if their process does not pan out as expected, but delays will undoubtedly cast a shadow on those still trying to promote this once promising technology.
For those old enough to remember Wendy's front lady Clara Peller in the 80's
Where's the beef?