Junior miner Gensource Potash Corp., Saskatoon, said May 22 that it has entered into nonbinding Memoranda of Understanding (MOU) with a large and well-respected international fertilizer manufacturing and distribution company to form a joint venture company to develop the Maverick Project within the Vanguard area in Saskatchewan. The jv will construct, own and operate the potash production facility. The Maverick project is being developed alongside the company’s other project, Vanguard One, within the Vanguard area. The parties to the Maverick project have reached an agreement in principal on offtake amount 250,000 mt/y for ten years, equity contribution and jv operating structure.
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