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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 Mar 31, 2022 9:12am
176 Views
Post# 34562372

RE:Annual results are out

RE:Annual results are outpatos, a cash preservation strategy appears to be the focus at this time, as the company has announced it currently has 1 full time employee / 0 part time employees, and are operating from a virtual office.

From the 6 or so lawsuits out there, it appears one has been cleared from the books, so that is certainly a good start.

"In the fourth quarter of 2021, the Company reached a settlement with the former Chief Executive Officer for amounts fully accrued and expensed in prior years."


In another one of the lawsuits, questioning or discovery is scheduled to begin next month, so that will shed a lot of light on the events that took place in 2018, as all involved will have to testify under oath.

Certainly not a sprint as it has been almost a 4 year marathon so far, but the truth is finally knocking on the door and it is time shareholders are brought up to speed on the facts.


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