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Bullboard - Stock Discussion Forum Gensource Potash Corp AGCCF


Primary Symbol: V.GSP

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... see more

TSXV:GSP - Post Discussion

Gensource Potash Corp > Stockwatcher's Concerns
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Post by bobbythebaker on Oct 18, 2023 6:52am

Stockwatcher's Concerns

Stockwatcher, most developers live hand to mouth as they are moving a project along.  GSP payables have been relatively steady for the past year, actually trending down from $4.3mm in Sept 2022 to $3.8mm in June 2023.  And don’t forget, GSP just raised $729k in gross proceeds 2 weeks ago.  If you’re looking for solid balance sheets without the need for future financing, you shouldn’t be investing in developers.  As for a share consolidation, I don’t see any reason why that would happen here.  In the early years, GSP traded in the 3-10 cent range, and it was just fine with the TSX Venture exchange.  I know you see last night’s closing ticker as the absolute truth.  But I’m not sure a couple trades at 9.5 cents = truth for GSP.  What about the 5mm shares just bought this month by company insiders at 15 cents?  Was there truth in that price?  What about GSP shares trading at 46 cents in 2022?  Was there truth in that price?   For my part, I believe the truth lies not in the share price (Warren Buffett’s voting machine) but in the merits of the company (Warren Buffett’s weighing machine).  I still feel Mike/Rob/Deb/Alton/Tugaske/HELM/Amy/Stephen/Wayne are telling us existing times are ahead for the company - and that eventually - the share price will follow.

Comment by Relaxing on Oct 18, 2023 12:20pm
Stockwatcher/ Bobby, The $3.8 million liability on the balance sheet is owed to Helm  bearing no interest ( our off taker and partner). As per your comment about a rollback, the majority of all shares in Gensource stock are owned by the insiders , their associates and friends so there will be no rollback. Gensource management are straight shooters so there is no reason to prop up the ...more  
Comment by stockwatcher248 on Oct 18, 2023 6:47pm
thanks for the comments on my concerns...and now we are 8c BID...looking just awesome....
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