Gensource Potash Corp V.GSP

Q2

[black364]

https://www.londonstockexchange.com/news-article/GSP/financial-statements-and-management-s-discussion/16102511

[mdjbrown]

Thank you for posting this link black "Subject to financing" seems to rule the day, along with continued granting of options. Previous targetting of ground breaking expectation for spring, then summer, and now to fall magnifies the difficulties for all of these juniors trying to secure finanancing with all the uncertain potash challenges. Cross your fingers for Western's cavern

[bobbythebaker]

Reads to me like someone is stepping in with big time equity in the next 0-2 months.

[stockwatcher248]

just have to keep fingers crossed that big equity doesn't come in at 10c stock......

[bobbythebaker]

I don't expect equity to come in buying GSP common stock.  Rather I expect it will be project equity, like we see with HELM, ready to put $50mm into KClean for the Tugaske project.  So no dilution to the GSP parent (and GSP shareholders).

[mdjbrown]

btb, maybe the third time will be the charm. First Essel, then Helm, and maybe number 3 will ring the bell, but what exactly is that large investor getting when laying hundreds of millions of dollars on the table. It is a great story of what could be if everything comes together, but what percentage of ownership will be required for such a massive risk? What if that investor wants 51% control of

[stockwatcher248]

great points MJB....my questions are with with almost half a  BILLION shares outstanding what is asset value today???..cash of $300k and accounts payable of $4 million is an ugly start....what is asset value today???....any responses???.,...

[mdjbrown]

sw248, I guess the first step would be to assess the asset value of the leases / properties currently held by Gensource. In 2011, Yancoal bought 8 properties from Acron for $110 million dollars. In 2016, Yancoal sold 2 leases to Gensource for a couple million dollars after Yancoal I believe drilled exploratory wells in pursuit of building a conventional solution mine similiar to Bethune