- Gensource Potash Corporation (GSP) secures 206 acres for its Tugaske Potash Project.
- The acquisition enhances strategic positioning with proximity to Canadian Pacific Kansas City rail (CP, Financial).
- The project aims to set new environmental standards with innovative potash production methods.
Gensource Potash Corporation (GSP), through its subsidiary KClean Potash Corporation, has finalized a land purchase agreement, securing 206 acres for the Tugaske Potash Project. This acquisition marks a significant milestone in the project's progression, fulfilling an option agreement established on October 4, 2018.
The strategically selected site is located adjacent to vital infrastructure, including the Canadian Pacific Kansas City (CP, Financial) railway, as well as essential road, gas, water, and power connections. This location offers advantageous access to transportation corridors crucial for the initial development phase and prospective expansions of the Tugaske Project.
According to Mike Ferguson, President and CEO of Gensource, acquiring the surface lands strengthens the company's control over the project timeline and demonstrates its commitment to advancing this key asset. The move is expected to significantly de-risk the project and facilitate the next stages of implementation.
Gensource plans to leverage its sustainable and scalable approach to potash production at the Tugaske Project, focusing on minimizing environmental impact with no salt tailings, and reduced water usage. This innovative production model aligns with Gensource's strategy for vertical integration, ensuring that all production capacity is directed and pre-sold to specific markets, thus mitigating market-side risks.
