Karnalyte Resources Inc T.KRN

Alternate Symbol(s): KRLTF

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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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Comment by RetiringYoungon Feb 24, 2016 3:52pm

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Post# 24591054

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

Oh OK, I thought you meant that the 45M that GFSC invested in KRN was a loan and not an investment. So I wondered why they had X ownership percentage of the float. But they borrowed to make the investment, I was unaware.

So what if GFSC defaults on the loan payments? The bank would claim the pledged shares and liquidate them but the shares aren't worth near the loan amount.

I guess there's only 10M shares payable but no market for them or are all shares payable on the first default?

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