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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 Jun 14, 2021 8:56am
224 Views
Post# 33380704

RE:RE:The bigger picture for shareholders may be getting lost!

RE:RE:The bigger picture for shareholders may be getting lost!Ari, a financing of some kind will be required at some point, but the question being - at what cost to shareholders?

The company is likely not in a position of strength from a bargaining stand point based on many of the things you point out.  The bar was set very low with the last .17 cent Rights Offering that carried with it a 50% dilution for $2.4 million.

Anyone deep pockets coming in knowing the history here will likely want security for their investment in the way of control, and we already know based on the last 8 years GSFC wont likely be interested in giving that up easily.

An update from the company would be very helpful as many shareholders are curious about the 6 or so lawsuits made public by the corporation. 

According to the last financials, the lawsuit brought against Krn by a previous CEO may have been settled, but that is not confirmed. 

Hopefully there will be an option to ask questions at the AGM as there are lots of questions out there.................






 
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