Karnalyte Resources Inc T.KRN

A little blast from the past, and why most of us invested

[mdjbrown]

https://www.northernminer.com/news/karnalyte-sees-swan-in-ugly-duckling-carnallite/1000414578/


https://www.miningweekly.com/article/karnalyte-to-build-saskatchewan-magnesium-co-products-plant-2012-07-19

[Resourse]

Thank you for the history lesson. I couldn't access the Northern Miner article but the Mg article is exactly what I was referring to. What happened to that part of the KRN story. 

[mdjbrown]

Resourse, many long holding shareholders would argue GSFC happened. These articles are prior to the $45 million investment by GSFC to advance The Wynyard Potash Project.     Problem is the cash is just about gone, and very little was used to advance anything Wynyard Potash Project related yet these costs to get that ball rolling, still remain: “The cost for the detailed

[Resourse]

The project found a potash partner. I dont know if Mg is in the tank too or if someone elses money may be available for it.

[mdjbrown]

Resourse, GSFC would have to approve it.  They control the whole Wynyard enchalada both at the ballot box and in the boardroom    

[Resourse]

I am curious how the the first CEO is looking at this group that wants an NH3 plant. I would think his votes would make or break their plans. 

[mdjbrown]

Resourse, it would be a pretty safe bet to assume the founder of Karnalytes vote would not have changed his stance from 2018, when he was sued by these same guys for not supporting the nitrogen idea.  If I recall the lawsuit wanted his and other shareholders votes unulled if they were successful, which they werent That same group also sued him for $5 million, which that lawsuit is still on