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IN BRIEF: Gensource Potash maintains dedication to secure financing

Thu, 07th Dec 2023 19:34

Gensource Potash Corp - Saskatchewan, Canada-based fertiliser development company - Says that following successful flow-through programme financing, it initiated the 2023 Vanguard North 3D Seismic program in September 2023, with several strategic objectives. Plans to start exploration and confirm the resources of the sub-surface mineral permit, SMP200. Originally acquired in November 2021, SMP200 is north of KL245, the location of the Tugaske project in Canada. Gensource also plans to expand its dataset for the existing resource defined in KL245.

Adds that it has been "actively engaged" in discussions with several financial institutions to secure full project financing for the Tugaske project. Gensource is now focused on reaching an agreement with a preferred funding entity, so that the Tugaske project can transition to construction and operation. Says that "while timing remains challenging to estimate, the company is dedicated to expediting the negotiation process".

Current stock price: 5.00 pence, flat on Thursday in London

12-month change: down 60%

By Holly Beveridge, Alliance News reporter

Comments and questions to newsroom@alliancenews.com