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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.


TSX:KRN - Post by User

Comment by mdjbrownon Dec 04, 2020 3:32pm
114 Views
Post# 32039265

RE:Your take

RE:Your take Resourse, that is the million dollar question

How could any shareholder not named GSFC think the .17 cent Rights Offering was a good idea. What ever happened to getting 51% shareholder approval before moving forward with a financing that affected everyone

The dilution alone was hard enough to stomach in relation to the amount of cash raised, but giving voting control away was the real punch in the guts.

My opinion has never been a secret regarding the the Nitrogen plan, as far back as fall 2017 when the idea was being floated around.  That opinion has not changed, but unfortunately the treasury sure has as a result of that idea

I tried my best to introduce another potash option for shareholders to consider at that time, but it never materialized. Instead lawsuits were the flavor of the summer of 2018, and continue to linger today.

I couldnt agree more that until all the litigation is put in the rear view mirror, it will be difficult to gain much traction, as many eyes on both sides of the pond are watching this one closely
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