Western Sierra Resource Corp (OTCMKTS: WSRC) operating out of Steamboat Springs, Colorado mission is to become a broad-based resource company with high value, income generating assets that include water conservation projects, real estate, agriculture, precious metals, helium, and associated “green” technologies. WSRC currently owns six precious metal reserves in Arizona. The Company was actually founded in 1907 and more recently it broadened its vision to include natural (and renewable) resources with its acquisition of water rights and associated infrastructure assets in Colorado for purposes of irrigating and cultivating industrial hemp; processing hemp for manufacture of various building products; and for construction of affordable homes utilizing hemp-based materials-among other beneficial uses.  

In June 2021 WSRC acquired a 70% Stake in Silver State Mining Group (SSMG) and its Sage Hen reserve evidencing commercially recoverable Gold (AU), Silver (Ag), Platinum (PT), Palladium (PD), and Rhodium (RH). The Company, in concert with Silver State Mining Group, is currently working to establish a $12 million, 100 ton per day enhanced processing facility for direct development at the Sage Hen site. WSRC also has a joint helium venture that has been expanded. The joint venture anticipates developing, in addition to the helium opportunities, 3 to 6 oil and gas projects per year beginning in 2023. WSRC is also developing technologies focused on the reduction of energy consumption in heating and cooling (HVAC) and refrigeration systems; on effectively and non-chemically eliminating airborne pathogens in commercial buildings; on the generation of clean energy using a turbine system for cost-effective off-grid power generation; and, on utilizing air-water generation (AWG) technology to meet domestic water requirements in arid climates. Several of these technologies are applicable to and will likely be incorporated into the Company’s proposed land, water, agriculture, and affordable housing development project. 

In September 2022, WSRC acquired 100% of Mitigation Solutions, LLC (MSL), now a wholly owned subsidiary. With the acquisition of MSL by WSRC, MSL’s Principals joined the WSRC management team. Scott Hastings was appointed to the WSRC Board of Directors and became its Chief Operating Officer. Jeff H. Jones was named Special Advisor to the WSRC Board of Directors. MSL’s Principals and team members bring a combined 200 years of disaster response/relief, mitigation, and restoration experience to the Company. MSL has, since September 2022, successfully contracted, and initiated the 7-10 year, $1.5 – $2 Billion Twitchell Dam and Reservoir Mitigation Project in Santa Barbara County, CA, which is currently underway. 

On September 28 MSL executed a Binding Agreement having a value of $1.976 Billion with the Santa Maria Valley Water Conservation District (SMVWCD) in Santa Barbara County, CA, 11 days after the initial agreement from September 17. A Final Contract was ratified by all Parties on October 19, 2022. Under this final Contract, MSL will mitigate damage and restore the Twitchell Dam and Reservoir to its original holding capacities at cost of from $1.5 Billion to $2 Billion. The Contract allows for adjustment in the scope and term of the project – over an anticipated completion schedule of 7 to 10 years. Gross revenue to the Company is estimated to average $200 million annually. Two additional projects are currently in queue. This scheduled revenue enhances the Company’s ability to fund its other natural resource projects without debt or dilution. 

Ratification of the Final Contract precipitates commencement of Phase I operations within seven (7) days, and continuous ramp-up over the next several months. The Company has secured $40 million in equipment financing and a $150 million Line of Credit for phased mobilization immediately available through institutional providers. 

$WSRC A lot of agenda items on tap for the Wednesday Special Meeting at 630pm pst. I don’t see a closed session on the agenda so I believe meeting should start as an open session to public. Agenda has been released and attached below. pic.twitter.com/boVGpJpFSt

— macnchee$e (@macnchee5e) March 22, 2023

To Find out the inside Scoop on WSRC Subscribe to Newsytrends.com Right Now by entering your Email in the box below

MSL will secure funding for SMVWCD from Infrastructure Investment and Jobs Act, The Inflation Reduction Act and the 2022 Omnibus Appropriations Bill through various Federal and State agencies, primarily the Federal Emergency Management Agency (FEMA), United States department of Agriculture (USDA), and the U.S. Department of Transportation (USDEOT). Additional financial participation by other Federal Agencies is anticipated. MSL has secured a $150 million Line of Credit for phased mobilization; and $40 million in Equipment Financing immediately available through institutional providers. The beneficiary of this Federally funded project is SMVWCD for purposes of stabilizing the Twitchell Dam and restoration of the ~224,300-acre-foot (~73.07 billion gallon) Twitchell Reservoir.  

Mitigation Solutions, LLC (MSL) will remove and repurpose approximately 40 to 60 million cubic yards of ash-contaminated and non-contaminated sediments from the Reservoir basin. This sediment has collected in the Reservoir over the last four decades and has vastly reduced the Reservoir ability to recharge the local groundwater and aquafer that local agriculture and food production depends on. Returning the Reservoir to its original holding capacity also allows the Twitchell Dam and Reservoir to improve its capability as an essential flood control structure and source of water to fight wildfires. 

Along with Dam stabilization and removal of sediment from the Reservoir basin, the scope of the project encompasses mitigation of influent-contaminated sediments, water contamination, and preemptively addresses the deposit of eroding soils from upstream drainages to mitigate future adverse effects for the Reservoir and damage to the Dam that sustains it. Global Clean Water, Inc. (GCW) has contracted with both WSRC and MSL to address functions in each of the four (or more) phases of the Twitchell project which is expected to require 7-10 years to complete. 

The Twitchell Dam and Reservoir site is the first of several California locations where these contract services may be performed by MSL. Two additional projects are currently in queue. 

Things continue to progress, in a recent update the Company said the feasibility study that ratified the formal contract was approved on January 19, 2023. Work began with mobilization of heavy equipment to the site during the week of January 8, 2023. This contract is expected to generate average annual gross revenue to the Company of $200,000,000 for up to 10 years. Additional contract mitigation opportunities are now under review. 

During the last two weeks of mobilization and ongoing operations at the California Twitchell Dam and Reservoir Project, the Company’s officers have been on site in meetings to specifically address immediate project priorities relative to recent California weather events. WSRC’s officers have likewise met with the CEO (Clifton Turley) of Silver State Mining Group (SSMG) on location in Arizona to discuss operational strategies for the Sage Hen Mine and the addition of a new Processing Project in Arizona. 

Now that the first mitigation project is underway with MSL as a wholly owned WSRC subsidiary, the resulting multi-year net scheduled contract revenue combined with an enhanced borrower profile for the Company, has created additional opportunity for capitalization of the Company’s other projects; among them, the Sage Hen Mine and a new Arizona Processing Project. This new Arizona Processing Project would draw and process material from several locations in Arizona for recovery of precious metals. The addition of this project will allow SSMG to initiate production within 60 days of funding and enable SSMG to generate revenue concurrent with development of the Nevada Sage Hen Mine location. 

$WSRC attached are notes I took from tonight’s meeting.

There will be a special meeting on Wed, March 22 630pm pst to go over the 3 change orders to the MSL contract agreement. pic.twitter.com/xbasNY84xu

— macnchee$e (@macnchee5e) March 17, 2023

 For More on WSRC Subscribe Right Now!

Currently trading at a $25 million market valuation WSRC os is 312,136,648 with 111 million shares in the public float according to OTCMarkets. According to their most recent OTC disclosure WSRC has $76 million in assets vs $12 million in liabilities, with $0 convertible debt on the books. Notably, WSRC does not dilute, and the Company has actually reduced its total os since WSRC ran to $0.50 in 2021 with the float of 111 million shares exactly the same as it was 2 years ago. The Company has stated its intention to uplist to OTCQB and management has been working on that. In March, 2022, the SEC notified the Company of their requirement for substantial additional documentation, which the Company then immediately provided. The year-end 2021 Audited Financial Statements (2021 Annual Report) were completed and filed on April 9, 2022. It is the Company’s intent to re-file the Form 10 as soon as the 2022 audit is completed. We will be updating on WSRC when more details emerge so make sure you are subscribed to newsytrends.com by entering your email below.

Disclosure: we hold no position in WSRC either long or short and we have not been compensated for this article.