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.

TSX:KRN - Post by User

Karnalyte Resources Inc

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Post by winspear1on Mar 05, 2016 12:31pm

218 Views

Post# 24625923

RIDDLE ME THIS

So KRN has a property with a carrying value of approx 70 million dollars

in 2013. In 2015--i believe--as a last gesture from outgoing management and with the

consent of GSFC they wrote down the asset to 4 million dollars.

OK so how does someone get a 30 million dollar finders fee for a financing on a property worth

4 million dollars.

ANYONE WHO WALKS UPRIGHT WITHOUT DRAGGING THEIR KNUCKLES CAN

SEE SOMTHING JUST AINT RIGHT

JMHO

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