Karnalyte Resources Inc T.KRN

Alternate Symbol(s): KRLTF

Karnalyte Resources Inc. is a Canada-based development stage company. The Company is engaged in the exploration and development of its property and possible construction of a production facility and development of a potash mine. The property is situated in Saskatchewan, south of Wynyard and contains a dominant zone of potash and magnesium minerals. Its Wynyard Potash Project is a Carnallite/Sylvinite solution mining project in central Saskatchewan. It has a 100% interest in KLSA 010, KL 247A, and KL 246 mineral leases comprising approximately 367 square kilometers (km2) (90,766 acres) of mineral rights. It also owns around 4,100 acres of surface land. The project is located approximately 190 km east of Saskatoon, SK, or 176 km north of Regina, SK. It is also exploring the development of the Proteos Nitrogen Project. The Proteos Nitrogen Project is an advanced stage development project consisting of a proposed small-scale nitrogen fertilizer plant to be located in Central Saskatchewan.

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Karnalyte Resources Inc

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Comment by MissingA9on Mar 17, 2016 10:33am

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Post# 24669361

RE:Don't try to catch a falling knife

I think this is a good support level based upon de-risked fundamentals. The upside risk is enormous so if you want to participate in that it is probably best to stay invested as who knows what the day traders will do. It KRN wants debt:equity ratio of 3:1 they are expecting market cap to be 333 million which is far from were we are today.