RE:RE:RE:RE:more details neededthis "70%" is unexplored leased land. Not even inferred resources present here (yet). Not really part of the "resource". I would not hang my hat on these leases and focus on the delineated resource which we are losing control of. I will need to see favourable terms for existing shareholders before voting in favour of this - details of off take agreement are crucial (especially when potash prices already are so low)
JMHO
mdjbrown wrote: A9,
Unexplored Land Co.
Karnalyte owns a 100% interest in Subsurface Permit KP 360A and Subsurface Mineral Lease KLSA- 010, which are located near Wynyard, Saskatchewan, and comprise a total of 85,126 acres, or CALGARY: 2629567\2 approximately 344.5 km2 of land (the “Total Lands”) located in the heart of the ‘potash belt’ in Wynyard, Saskatchewan. The lands which have been explored and which the Company intends to mine in connection with which Phases 1, 2 and 3 comprise approximately 106 km2 and represent approximately 30% of Karnalyte’s Total Lands.
Karnalyte’s unexplored lands include approximately 241 km2 , or approximately 70% of the Company’s Total Lands (the “Unexplored Lands”). The Agreement in Principle and associated documentation contemplates an assignment of the Unexplored Lands to a separate entity which will have the benefit of a license for associated intellectual property to allow such entity to further explore and develop these currently untapped assets and allow current Karnalyte shareholders to benefit from such development.