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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
Comment by RetiringYoungon Feb 24, 2016 2:15pm
174 Views
Post# 24590515

RE:RE:RE:RE:RE:RE:RE:RE:Finally, Feb 23rd, has come and gone

RE:RE:RE:RE:RE:RE:RE:RE:Finally, Feb 23rd, has come and goneI must have missed something. Since when was the $45M that GFSC invested at $8 "a loan" with payments? Clearly, I haven't been following closely enough.

mdjbrown wrote: Should get a whole lot simpler biz, once the bagage is unloaded.

by the way, you love running your mouth about the economics of the project, so please share with us how you think GSFC can possibly make the Framework deal work.

They already have a $45 million loan with another 6.67 million US payment due next month

They are including the remaining company cash in the treasury as their own, along with the money already spent on the project.

About to take on a $50 million dollar loan @ 10%

$77 million in prefered shares @  $? about to be unleashed on us

And then there is the big $612 million dollar financing.

GSFC only has a m/c of $475 million, so how do they plan on making payments that equate to more than the company earns annually?.

No revenue will come from the mine for years

This financing looks like it is built to fail,, but who cares eh biz, as I can not find anything that would hold GSFC accountable should they default, as it is all KRN assets put up for collateral.

jmo



Bullboard Posts