From this day on Western Sierra (OTC: WSRC) has a stable annual $200 million in average revenue so it won’t need to issue shares or take loans. Only today the company announced its subsidiary Mitigation Solutions has just signed an agreement with Santa Maria Valley Water Conservation District (SMVWCD) in Santa Barbara County, California. In the agreement, the subsidiary obliges to mitigate the Twitchell Dam and Reservoir.
Mitigation Solutions is to receive $1.976 billion in total according to the agreement which is bond to a seven to ten-year continuous deal. While generating that huge revenue Western Sierra gets huge funding to work further on its mining sites in Arizona and Nevada.