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.

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Karnalyte Resources Inc

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Post by crazytownon Sep 19, 2014 1:44pm

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Post# 22952864

RE:Moving out and depleting the coffers

I was concerned about this until I read the last financials and felt the spending seemed to be well under control. In fact if GSFC is now in charge and pulling the strings as it seems, the money you speak of is mostly theirs from the last financing and I don't think they got rid of Robyn just to let the money be squandered. GSFC must have a plan, perhaps even a tanking share price is currently to their benefit, but wasting the cash on hand makes no sense. Just my opinion, good luck to all.

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