Green Practices and Sound Financials Bring Finance Partners to Gensource Potash
Toronto, Ontario--(Newsfile Corp. - October 1, 2019) - HeroStocks.ca, an online source of investor-focused news and educational content on topics within the resource, technology and cannabis sectors, announces the publication of an article covering Gensource Potash (TSXV: GSP), an innovative fertilizer company focused on developing the next potash mine production facility in Saskatchewan.
Recently, 130 banks worth $47 trillion adopted new UN-backed climate policies to shift their loan books away from fossil fuels. These "responsible banking" principles mean banks must now consider the impact of their loans on society, not just on their portfolio. If you're project isn't green, financing it just got harder.
For mining companies, the environmental footprint is key in conversations about corporate social responsibility. Large equity investors are also being much more selective in their use of funds. They want to be associated with environmental stewards and the best corporate citizens. Potential investors are asking the tough questions.
And Gensource has the project institutional investors are looking for - meaning no salt tailings piles, scaled down project size to 1/10th the size of conventional mines (right-sized for rural communities), no brine ponds (eliminating environmental concerns), less than half the water consumption per tonne of product produced as compared to conventional potash mines all supported by a project with strong economics.
Gensource's forward-thinking environmental practices have led the company to attract quality investors. The company received Letters of Intent for its $300 million project from KfW IPEX-Bank of Germany and Export Development Canada EDC. KfW IPEX-Bank is an affiliate of KfW Bank Group. It is responsible for over €66 billion in assets, completed €17.7 billion in new financings in 2018 and is AA+ rated.
On completion of the outstanding due diligence process, an agreed term sheet will be submitted for senior lender's formal credit approval and development of Saskatchewan's latest potash mine can commence. Stay tuned!
Read the full article here.
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Patrick Piette, CFA
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/48377