Wednesday, July 2, 2025

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

Gold Drilling Scaled to 60,000 Meters: How Big Can This Get? | Roger Rosmus – Goliath Resources

Baselode Energy To Acquire Forum Energy: The Merger Of Equals Deal

TriStar Gold: The Revised Castelo de Sonhos Prefeasibility Study

Recommended

ESGold To Expand Mine Building At Montauban In Advance Of Gold & Silver Production

Goliath Resources Expands 2025 Drill Program To 60,000 Metres

Related News

Verde Agritech Misses Revenue Guidance By 26%, Lowers Expectations For 2023

Verde Agritech (TSX: NPK) is expected to have a rough day in the market today...

Thursday, March 30, 2023, 09:26:42 AM

Nutrien Targets Producing 18 Million Potash Tonnes Annually By 2025

To address the uncertainty of supply from Eastern Europe, Nutrien Ltd. (TSX: NTR) announced on...

Friday, June 10, 2022, 03:03:00 PM

GREENHORNS: BHP Bilks Feds For $100 Million Under Carbon Guise

BHP Group (NYSE: BHP), formerly BHP Billiton, is the world’s largest extractive company. Its very...

Thursday, June 16, 2022, 03:40:00 PM

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

Libero Copper Gears Up For Field Season At Big Red Focusing On Identified Potassium-Rich Target

Libero Copper & Gold (TSXV: LBC) announced on Tuesday that its recently concluded surveys have...

Wednesday, June 1, 2022, 04:34:00 PM