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

Karnalyte Resources Inc

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Post by MiddleGroundon Aug 14, 2014 11:29am

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Post# 22841678

KRN is poised to be the next junior potash company to build

Subject line quoted from the release:

Karnalyte Resources Inc. is poised to be the next junior potash company to build a Project with our strategic partner, Gujarat State Fertilizers & Chemicals ("GSFC"). Competitive advantages for the Project include:

Receiving a positive bankable feasibility study confirming economic viability of the Project, with:
- Development capital expenditure ("CAPEX") for the initial 625,000 tpy plant estimated at $593 million with annual operating expenses ("OPEX") of $133 per tonne KCl
- Development CAPEX for the full 2.125 million tonne per year operation estimated at $2,002 million (inclusive of the initial $593 million), with OPEX of $125.45 per tonne KCl
Receiving Environmental Impact Statement ("EIS") approval from the Saskatchewan Ministry of Environment ("MOE") to initiate construction of the Project
Entering into a strategic investment and off-take agreement with GSFC, where GSFC has agreed to purchase approximately 350,000 tpy of potash from Phase 1 of the Project, increasing to 600,000 tpy with the commencement of Phase 2, at prevailing market prices
Engaging BNP Paribas and Natixis, New York Branch, on an exclusive basis, to act as lead arrangers for a senior secured project finance facility of up to US$300 million
Selecting Whiting Equipment Canada Inc. as its major equipment supplier
Receiving notice that the Saskatchewan MOE is satisfied with the injection testing
Received water right licence and approval to operate ground water works