Gensource Potash Corp AGCCF

1Q24 MDA/Financials/Press Release Out

[bobbythebaker]

Quotes that caught my eye.  Draw your own conclusions.  Connect The Dots is fun for all ages! 

"The first quarter of 2024 has seen Gensource receive international delegations seeking to access a modern supply chain model. These entities are reviewing Gensource’s business model and planned capacity, which will guarantee delivery of known potash tonnages on predictable timelines. The team at Gensource is delighted with the current activity going into the second quarter of 2024.  Financing for the Tugaske Project remains the Company’s primary focus. To that end, negotiations are concentrated on financial and joint business structures, enabling current and future parties to benefit from Gensource's modular and scalable production opportunity. The negotiations are at an advanced stage, which coincides with the heightened interest in the Company’s model."

"The Company announces on-going support from directors of the Company in the form of promissory notes from certain directors (Stephen Dyer, Wayne Brownlee and Michael Ferguson), totaling $300,000 in two tranches. The first tranche of $150,000 was received on March 25, 2024 and the second tranche was received on May 9, 2024.  The promissory notes are unsecured, bear interest at a rate of 0% per annum and mature on June 25, 2024.”

"As of May 28, 2024, the Company's nominated advisor, Strand Hanson Limited, resigned.  Subsequently, trading of the Company's Common Shares on AIM was suspended at 7:30 am UK on May 29, 2024.   AIM Rule 1 provides the Company with one month to appoint a replacement nominated adviser. If no replacement nominated adviser is appointed, the admission of the Company's AIM securities will be cancelled.”

"Lazlo Area:  At the date of this MD&A, the company is more likely to pursue an initial project in the Vanguard Area in the immediate term, so the budgeted expenditures are not included here."