Gensource Targets Doubling Capacity To 500,000 Potash Tonnes Annually At Tugaske Project

Gensource Potash Corporation (TSXV: GSP) became the latest firm to up its potash capacity game. The firm announced on Tuesday a commitment with a strategic investor to grow the annual potash production to 500,000 tonnes from 250,000 tonnes at its project located near Tugaske, Saskatchewan.

Together with investor and offtake partner, HELM AG and subsidiary HELM Fertilizers, the firm is planning to add a second module to its ongoing development of the Tugaske project. The second phase of the project is expected to double its anticipated capacity to half a million potash tonners.

“The need for innovative solutions to bring new production to market is imperative, and with HELM’s continuing support, we are one step closer to bringing the Tugaske Project into production,” said CEO Mike Ferguson.

In addition, HELM is also committing a US$12.5 million contingency fund for the Tugaske project, as required by the bank syndicate handling the firm’s debt financing with Germany-based chemicals firm.

While no details have been shared on the phase two timeline, the firm said it would be “significantly accretive to the overall returns” for the project.

Gensource last traded at $0.19 on the TSX Venture, then spiked 8% when the markets opened.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Four Countries Control the Fertilizer That Feeds the World | Sage Potash

$10,000 Gold Is Just A Question of Time | Florian Grummes

What Happens If Silver Finally Breaks $50? | Gary Thompson – Silver47

Recommended

Emerita Resources Expands El Cura Drill Program By 10,000 Metres As Deposit Remains Open For Expansion

ESGold Signs MOU For Tailings Project In Colombia With Grades Up To 42 g/t Gold, 280 g/t Silver

Related News

Four Countries Control the Fertilizer That Feeds the World | Sage Potash

Tim Mizuno, President & COO, and Shilo Sazwan, Strategic Operations Partner of Sage Potash (TSXV:...
Monday, August 25, 2025, 03:41:00 PM

BHP’s $7.4B Potash Gamble Hits Major Snags in Saskatchewan

A cornerstone project in BHP‘s strategy to diversify beyond iron ore and copper has encountered...

Monday, July 21, 2025, 10:41:00 AM

This Potash Project Is Critical for Global Food Security | Mayo Schmidt – Brazil Potash

In this exclusive interview, Mayo Schmidt, former CEO of Nutrien and Executive Chairman of Brazil...
Monday, April 21, 2025, 01:41:00 PM

BMO: Mosaic Is “Delivering On The Promise”

Last week, Mosaic Co (NYSE: MOC) released their full-year 2020 financial results. The company announced...

Monday, February 22, 2021, 10:47:00 AM

Nutrien Sees Consensus Price Target Improvement Following Raised Guidance

On June 21st, Nutrien (TSX: NTR) raised their first half 2021 earnings per share guidance...

Wednesday, June 23, 2021, 03:36:00 PM