trending Market Intelligence /marketintelligence/en/news-insights/trending/T17QB7BcicarE4OANYrk_A2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *

* Required

In This List

Gensource closes US$6.0M royalty sale on Tugaske potash project

Mining Exploration Insights: Dip in gold drilling weighs on results

Mining Exploration Insights: Is the exploration sector back on recovery?

State of the Market: Mining Q2-2019

Metals & Mining

Global Mining Industry Outlook - What Are the Expectations?

Gensource closes US$6.0M royalty sale on Tugaske potash project

Gensource Potash Corp. said Oct. 15 that it closed the US$6.0 million royalty sale on the Tugaske potash project, which will be developed within the company's Vanguard property in Saskatchewan.

The 2% gross revenue royalty was granted to a strategic investor and a project off-taker, whom Gensource struck a deal with to develop the project.

In addition, the company closed a private placement of 11,230,769 shares at 13 Canadian cents apiece to raise C$1.5 million in gross proceeds.

Gensource said the total gross proceeds of US$7.1 million from the two transactions will be used to advance the project, provide working capital and complete a senior debt due diligence process for project financing, which is targeted for closing in early 2020.