RE:RE:RE:RE:Mag wheelsWhere has the $100M been spent? I was always under the impression that KRN was started with a family and friends round and survived basically on GSFC's $45M
I don't rememebr what they raised in the initial IPO
mdjbrown wrote: I share your frustration, Harp.
Its been almost three years since the Wynyard assets carrying value was slashed, and I have yet to hear a logical answer explaining the writedown.
If it was that urgent, why were other potash juniors in much worse shape than KRN not racing to do the same. There was still approx $30 million in the bank at that time, when other juniors had much less than a million on the books.
There has been almost $100 million spent on the Wynyard Project, not including the $45 million GSFC brought to the table, so I am at a loss to understand how and why the writedown was carried out under GSFCs watch.
It is of no benefit to have a corporation entire assets carrying value on the books at less than $4 million., when trying to raise a $billion to move the project forward.
I hope one day the truth comes out, but I highly doubt it........
just my thoughts