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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 Nov 13, 2021 11:31pm
157 Views
Post# 34124175

RE:RE:Any accountants out there?

RE:RE:Any accountants out there?Very confusing for sure T33 but in complete fairness, the current Krn Board of Directors and management were either not with Karnalyte in Q4 2018 or likely had no direct input into the decision to increase the decommissioning liability.

Maybe after closer review the current Board has decided the liability increase wasnt necessary due to lack of advancement of the Wynyard Project since late 2016.

Maybe the recommendation has come from a third party agency after further review of the decommissioning increase?

It would be helpful for shareholders to get clarrification from the company, but that information might have to come from the Executive / Board in place at that time, and with the reported settlement of the past CEO's wrongful dismissal lawsuit against Krn, its a good bet some type of iron clad NDA is associated with that settlement.



 


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