RE:RE:RE:RE:Q2 2024 Financials / MD&A outlol black. No one is usuing anyone here. sw248 has proven a very good sense for investing, and certainly doesnt need prompting. Take off your rose colored glasses black and you might actually learn something from sw248 ole boy.
You are 100% correct that there are several ways to finance a mining project black, and the folks at Gsp have tried their best to put various creative financings into action since 2016 to no avail. They had a large debt partner, but the elephant in the room continues to be finding that equity partner to move the needle on this project. ESSEL, then HELM, then unnamed interested parties, but despite those efforts, that rubber has yet to hit the road.
This is not bashing black, it is fact. Just as the corporations outstanding shares is not positive when trying to raise hundreds of millions of dollars. Again fact, although it is no secret you are not a facts guy, black.
Correct me if I am wrong black, but since 2016, Gsp has drilled 2 holes at KL245 to varify wells drilled by Yancoal in 2012, and in 2018 another step out well was drilled with construction anticipated to start in 2019 and yet here we are........
“We continue to advance our first module in the Vanguard area, the Vanguard One project, which is anticipated to move into construction in 2019 - and now, with the completion of this drilling and analysis, we also have the basis for advancing the engineering and design of the next module.”
A total of 3 wells drilled since 2016, after 10's of millions raised and yet not one cavern has been drilled or tested. Does that not seem strange to you black?
I would be absolutely ecstatic if Gensource was able to start producing and become profitable black, but that cant happen without first proving they can actually mine potash economically. Even more so when considering others using the same extraction methods continue to face hurdles, added to current potash metrics not exactly stellar for junior start ups.
Again fact black, as much as that is a four letter word in your world........................