Gensource Potash Corp V.GSP

Financials and MDA Out

[bobbythebaker]

Here's what has caught my eye so far (The 5th one down is my favorite.  Does "this quarter" mean by 9/30/21?):

-> The shareholder agreement between Helm Fertilizers and Gensource is now essentially

complete and will be executed as the project company is set up and then capitalized. Current

project company setup work is focused on a number of sub-agreements to the shareholder

agreement.

-> Additional work was completed on the project to support the AIM listing process, specifically the creation of a Competent Person Report (similar in content and structure to an NI 43-101

Technical Report), which will be published along with the AIM listing document, and additional

AIM listing driven legal due diligence activities.
 

-> The legal, commercial and technical due diligence work for the AIM listing advanced significantly during the second quarter and to-date no issues have arisen in the process that would lead the Company to believe that the listing will not be obtained in the immediate term.

-> The Company incorporated a subsidiary company, KClean Potash Corporation (“KClean”).

KClean will be the special purpose vehicle that will receive project assets from Gensource, equity investments from Gensource and HELM AG and receive senior debt financing from the senior lenders.
 

-> Additionally, as of the date of this MD&A, Gensource has completed the final required components to satisfy the senior debt process, targeting senior debt commitment letters that will support the final equity financing for Tugaske. . Gensource is looking forward to a material announcement on these matters in the next quarter.

 

-> In Q2, per the request of the Senior Lenders and their Independent Engineer, Gensource

completed a geomechanical (rock mechanics) study for the Project, performed by an

independent consultant with expertise and experience completing similar studies for other

potash projects. As anticipated, the study concluded that the potential impacts of rock

mechanics due to the selective solution mining process do not present a significant risk to

the Project. 

[mdjbrown]

Thank you for posting this btb. I find this statement very interesting about KClean Potash Corporation (“KClean”).   "KClean will be the special purpose vehicle that will receive project assets from Gensource, equity investments from Gensource and HELM AG and receive senior debt financing from the senior lenders" It would be interesting to see the corporate share

[BigJake]

Thanks for the post BTB, finance structure and timing still seem a little vague to me, however market price and volume are encouraging, fingers crossed !

[black364]

Hi Jake.  Although the company may be constrained from being more specific, some of the finance structure is given to us on a platter or at least in the nature of read between the lines in this morning’s release.  I think there are some that aren’t aware of how big of a prize the London listing will be for the company.  This will open doors for the company that were not thought

[MakinBank]

From my understanding, opening up on the AIM will take investors to that market, instead of the TSX. So, although the exposure is greater, it will hurt our share price since people will invest through AIM, instead of TSX/TSX-V.

[stockwatcher248]

your wrong......arbitragers will ensure the two markets are in line.....if European investors step into the stock and the price jumps on the AIM...arbitragers will short on the AIM and buy on the TSX up to the AIM price....new European buying, if significant , on the AIM will definiatly drive the share price up on the TSX......

[black364]

If you're attempting to impress us that the term arbitrageurs is common to you, please learn to spell it correctly.  The correct spelling is arbitrageurs.  You're  welcome.

[stockwatcher248]

hey Black...i rushed that posting...I actually spelled definitely wrong as well...how come you didn't pick that that up as well??...Mom and Dad boot you off the internet??...will be glad when your back in school and your irrelevant postings quit....

[black364]

Let it be noted, that your punctuation is as bad as your spelling. Have you been to any good dry outs lately?

[stockwatcher248]

Black....go have your cereal and milk and get ready for bed for school tomorrow...your posts have absolutely nothing to do with GSP, your plugging up the board...if you have something of signifance to post about GSP please post, otherwise get lost, you'll be on ignore real soon

[black364]

You're proving that you know very little about school, you misspelled the word significance.  Stop it, you're embarrassing yourself.

[stockwatcher248]

Black...go to bed you have school tomorrow.....you have never posted any thing fundamentally or technically of significance as far as GSP....think your are GSP groupie wishing you had shares....go up

[black364]

Go up?  Can you not spell grow?  In the context of your broken sentence the usage of the two words any thing is incorrect.  Try and remember to use the word anything.  Don't fall out of bed,  it's a long way from the top bunk to the barn floor.   

[Relaxing]

Bobby , thank you so much for this. This sure means allot to me as I have been a believer in these guys and this project for the past number of years. I especially like the part : "Additionally, as of the date of this MD&A, Gensource has completed the final required components to satisfy the senior debt process, targeting senior debt commitment letters that will support the final equity

[StockHawk19]

Agreed, thanks BTB! Your posts have been nothing short of informative and inspirational over the last few years since I started following Gensource. "Gensource is looking forward to a material announcement on these matters in the next quarter." "Targeted to move into full execution before the end of 2021." These two lines together give me confidence that "quarter"