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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. It is focused on two fertilizer products, potash and nitrogen, to be produced and manufactured in Saskatchewan. The Company owns the construction ready Wynyard Potash Project, with planned phase I production of 625,000 tonnes per year (TPY) of high-grade granular potash, and two subsequent phases of 750,000 TPY each, taking total production up to 2.125 million TPY. The Company is also exploring the development of the Proteos Nitrogen Project, which is a proposed small scale nitrogen fertilizer plant with a nameplate production capacity of approximately 700 metric tonnes per day (MTPD) of ammonia and approximately 1,200 MTPD of urea, and a target customer market of independent fertilizer wholesalers in Central Saskatchewan.


TSX:KRN - Post by User

Bullboard Posts
Post by StockMasterGodson Jul 10, 2014 12:46am
353 Views
Post# 22731296

Founders/Management are all shamelessly milking this cow

Founders/Management are all shamelessly milking this cow"In 2007, financing was provided by the founder through a shareholder loan that was repaid in early 2008. On April 1, 2008, the Corporation closed its 2008 Founders Private Placement with 4,599,999 Common Shares issued at $0.001 per share for total gross proceeds of $4,599" None of them have any skin in the game. Imagine the salaries these clowns are collecting and have collected and the issuing options below cash value is unconscionable. This is what happens when you don't have an independent BOD. Shareholders are the ones that get screwed. They better have something big planned otherwise they will be facing an angry mob at the next AGM or maybe even sooner. My sympathies are with the shareholders especially the ones that bought at the IPO.
Bullboard Posts