What is the answer?FYF, the biggest hurdle being faced here is GSFC invested $45 million in 2013 for the potash, not the magnesium. I don’t see that philosophy changing any time soon and a full-blown potash facility at Wynyard will require a billion dollar investment, so where does that leave shareholders?
Contrary to some of the board members who lacked any vision in 2017 / 2018, the fastest way to potash production / revenue from the Wynyard project still might be a low cost Polythermic Selective Solution mining pilot project.
As the non visionaries sat around the Krn boardroom chasing a doomed nitrogen strategy in 2018, all of Karnalyte’s peers have been preparing their corporation success around selective solution mining models.
Be it Western, Gensource, Buffalo, or PADCOM, this tech is being viewed as the new future in low cost potash mining for the little guys.
As some at Karnalyte sat on their hands in 2018 throwing mud at those who were trying to create something for all shareholders, our peers moved forward and some are now preparing for production testing.
Prime example is PADCOM, who have already drilled their test wells in December, and hope to be testing caverns in the fall.
Western has restarted their selective mining machine, Gensource is seeking financing to start their projects, and Buffalo Potash appears to be headed for a summer campaign with patented technology.
Oh, and just as a side note for those new here, it was the operator at PADCOM and Buffalo, who offered to build a 100,000 ton pilot mine on the Wynyard property, and were going to pay for the first phase out of their own pocket.
Both the Chairman of Karnalyte and GSFC were in support of this creation of shareholder value in building Canadas first selective solution mine in 2018, yet here we sit 4 years later pondering the corporations next move!
Like they say, doing something, is better than doing nothing!
So what really happened in 2018, and who needs to be held accountable for kicking shareholders square in the teeth?