Field of Dreams: How one Sask potash company hopes to defy the odds and build a mine

In a recent interview with The Saskatoon StarPhoenix Gensource Potash (TSXV:GSP) President/CEO and Director, Mike Ferguson, discussed how Saskatchewan’s potash industry has grown dramatically.
As quoted in the article:

Gensource’s strategy involves swapping massive underground mines and sprawling distribution structures for small-scale extraction operations funded by agreements to sell potash directly to the people and groups that use it.
“Our model of vertical integration is all about landing potash as close to the farmers’ fields as we possibly can,” Ferguson said in an interview at Gensource’s downtown Saskatoon headquarters.
“For us, potash is not about mining,” the company’s president and CEO added in an email. “The mining is a part of it for sure, but the business part is about being a supplier to agriculture.”
Gensource plans to raise $250 million by pre-selling potash to build a 250,000-tonne-per-year “selective dissolution” mine in the province, likely on its Lazlo property near Craik or Vanguard site not far from Moose Jaw.
Ferguson said the company’s technology — imagine a vertical shaft pumping solution through a lattice of horizontal tunnels — is economical and, because it eliminates the need for surface tailings deposits, environmentally friendly.
“The way to reduce the risk is to have this stuff pre-sold,” he said. “This is the beginning of a change as we see it, that the old way of doing things is starting to change. And we see ourselves as the leading edge of that change.”

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