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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 TimTimTimon Mar 10, 2016 11:46am
134 Views
Post# 24643756

Default

DefaultTrapper, I would expect GSFC could possibly default on the loan. Given their past dealings this could be a normal course of action in my opinion. As per the framework agreement if they are using Karnalyte as collateral for the loan, and are using none of their own money---we should be ready for the possibility of an eventual default. This way the Banks (Indian Government, GSFC and Banks all tied together anyway) get the resource and the Retail Shareholder gets the middle part of the doughnut (0). If there is not language in the final agreement that prevents this from happening I suspect most will vote NO, I certainly will.
Bullboard Posts