Potash Junior Climbs on Off-Take Agreement

Gensource Potash Corporation (TSXV:GSP), a potash junior, moved higher after announcing that it has entered into a binding off-take agreement

Sean Mason | May 18, 2018 | SmallCapPower

A definitive, binding off-take agreement was appetizing news for shareholders of a potash junior Friday. Here’s some small stocks making big moves on Friday, May 18, 2018 (as of 4 pm EST):

Gensource Potash Corporation (TSXV:GSP) shares gained 4% to $0.125 on Friday after the potash junior announced that it has entered into a definitive, binding off-take agreement with a senior North American agriculture industry leader, which includes the purchase of 100% of the production from one “module” of its 250,000 tonne/year capacity.

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As well, shares of Select Sands Corp. (TSXV:SNS) slipped 13% to $0.405 as the silica sands producer said its first-quarter revenue surged more than 400% to US$5.7 million, while swinging to a quarterly profit of $0.6 million from a net loss of $2.3 million during the same period last year.

Honey Badger Exploration Inc. (TSXV:TUF), meanwhile, reported the closing of the first tranche of its non-brokered private placement, previously announced on May 14, 2018, for gross proceeds of $1,617,800, $1.15 million of which was bought by funds managed by Goodman & Company Investment Counsel Inc., a subsidiary of Dundee Corporation. Honey Badger stock moved up 24% to $0.13 following the announcement.

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Disclosure: The author and some of his family members own shares in Gensource Potash.

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