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Karnalyte Resources Inc T.KRN

Alternate Symbol(s):  KRLTF

Chemicals Consumer Cyclical Advertising Agencies Basic Materials
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 amhbon Apr 17, 2015 11:26pm
263 Views
Post# 23642813

Material Change report

Material Change reportVery interesting what the did not say in report dated March 17,2015:

"A severance payment in the amount of $899,000 has been paid to an officer of the Corporation. In addition, the Company estimates costs associated with the terminations of employment referred to above is approximately $1,500,000. "

I bet it was everybody's favorite lover.

They have spent 8 million dollars not including above:

"As at December 31, 2014, the Corporation had net working capital of $39.5 million compared to $47.0 million at December 31, 2013, including $40.7 million and $46.1 million, respectively, in cash. "

"The Wynyard Project is now carried on the Corporation’s balance sheet at $4,016,000, an amount which reflects its salvage value. "  

A $100,000,000,000 BILLION dolar assest is now 4 million!!!  Think that is bad management?



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Dealroom for high-potential pre-IPO opportunities