Gensource Potash Corp V.GSP

Q2 2024 Financials / MD&A out

[mdjbrown]

Summer doldrums .................................

As at June 30, 2024, the Company had a total of $66,557 in cash and $2,388 in investments to settle current liabilities of $11,507,024.
 
For the immediate future, the Company intends to raise additional financing for the following purposes:

• complete the financing of the Tugaske Project,
• working capital purposes, and
• to begin to develop a second project.


The Company continues to monitor its spending and will amend its plans based on business opportunities that may arise in the future.

[black364]

The optimal word in the following sentence in the release is "SUPPORTING."  "The Gensource team continues to demonstrate this confidence and leadership through supporting the company and its work to close the financing."  It's clear that management has, in the interim, again stepped up to personally raise the additional financing needed to carry on its work to

[stockwatcher248]

good points Black, as usual...so what are we looking at a financing of 500,0000,000 shares at 8c to raise $40 million???, would only leave us with $30 million after current bills are paid off.......would put us at a Billion shares outstanding....wouldn't won't that situation....

[mdjbrown]

sw248, as much as management has done a fantastic job in being able to resist share consolidation to date, at some point it becomes a reality for every publicly traded junior who has had difficulty realizing expectation leading to excessive shares outstanding. With GSP seeking a couple hundred million dollars for project financing, a major investment like that at .08 cents would put Gensource at

[black364]

Stockwatcher, I'll try to enlighten you and hope it helps,  There are other ways to raise a financing other than your redundant posts, it's that simple.  Stock, sit back and think about that before you post the same again.  Dan uses you in trying to distract the board in the same vein as he did again today in another post, he even used your 8 cent suggestion and a billion

[stockwatcher248]

Black..enjoy the game tonight, I'm picking the Riders in my pool...so GSP has talked about a major financing with muliple outfits for the past 10 years but continue to raise private finacings to cover their rent and ridiculous salaries....they are the only ones getting rich....I would love to shut down the operations now to cut off the salaries...500,000,000 shares outstanding with FA in

[mdjbrown]

lol 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

[black364]

Hi Dan, It really would be a peaceful board if as you stated, "no one was using anyone here." It would be nice to not have you gaslight the board by using Stock, but alas that's not the case. We have seen Stock with dozens of the same posts complaining about the upcoming equity financing regarding the share count and his wild projections.  As you said, "there are several

[mdjbrown]

lol black  that one was for you ole boy. hook, line and sinker every time ................  lol

[Rattler99]

Did you say hook line and sinker?..lol.. and then post a picture. That absolutely makes you look ridiculous. Thank you! You're a beauty 

[mdjbrown]

Glad I could add some levity to this board, R99 as everyone has their knickers pulled up way to tight. You are welcome   ;)

[mdjbrown]

black, not sure management / execs having to support a company quarter after quarter is how any junior wants to operate, as it sends a message to shareholders that other investors are skeptical to invest.  We saw this during the $2 million dollar Private Placement a couple years ago when the vast amount of investment dollars came from insiders.  Ever since that time it has been tough