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 businessenseon Aug 24, 2016 8:13am

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Post# 25170884

RE:RE:RE:RE:RE:RE:RE:RE:GSFC Veto

Use of Funds

The contract you refer to does stipulate how the funds where to be used for as I have tried to point out. While I appreciate many contentions that doing Mg may be more financially vialble, we know this is always going to be at the center of GSFC's position.

The spin-off seemed to be the only way to allow a certain degree of seperation allowing them to proceed or delay as might be appropriate given market conditions. Still a lot of pieces that have to tie together.

Definately have to find the middle ground if going to move forward.

Whether the AGM will reveal anything constructive or just the same old remains to be seen.

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