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Gensource Potash Corp V.GSP

Alternate Symbol(s):  AGCCF

Gensource Potash Corporation is a Canada-based fertilizer development company. The Company is focused on developing resource opportunities with a specific focus on potash development. The Company operates under a business plan that has two key components: vertical integration with the market to ensure that all production capacity built is directed, and pre-sold, to a specific market, eliminating market-side risk; and technical innovation, which allows for a modular and economic potash production facility, which demonstrates environmental leadership within the industry, producing no salt tailings, therefore eliminating decommissioning. Its projects include Tugaske Project, Vanguard Area and Lazlo Area. The Vanguard Area is 100% owned in central Saskatchewan, located 170 kilometers (km) South of Saskatoon, 150 km North-West of Regina on a provincial highway system. The Lazlo Area is located in central Saskatchewan.


TSXV:GSP - Post by User

Comment by mdjbrownon Aug 07, 2024 11:21am
88 Views
Post# 36167545

RE:RE:Q2 financials should be interesting

RE:RE:Q2 financials should be interesting black, I think it is a fair assumption that additional funding has been provided to the corporation through insiders to keep the ball rolling as the last financials were as at March 31, and as you correctly point out, it is now month 8.

With approx $240K in the treasury in month 4 also fronted by insiders by way of promisssory notes, it wouldnt last long with the required SMP200 obligations and other general administrative costs if previous quarters cash burn was being relied on as a predictor.

I am not sure if GSP still has access to the remaining Helm credit facility, but that would help, but with no disclosure from the company regarding any recent PPs or other financing arrangements to raise equity, the Bank of Insiders is likely being relied on to keep things afloat.

I guess we will see in the coming days, and I really hope you are right regarding the tension in the Middle East, but unfortunately I think that ship has sailed, and this is just the beginning of a much larger conflict in that region.

Add Russia, and North Korea into the mix, and it could get very interesting.......




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