RE:No more BoD photosAri, statements in the last MD&A indicate that changes are coming.
It will be very interesting to see if any of the previously named CSG nominees are included on the proxy that should be out by the 8th of June.
OUTLOOK FOR 2021
“During the second quarter of 2021, the Company plans to complete the strategic review that was initiated in 2020 and solidify a strategic direction for the Company. The Company expects to announce the results of this over the coming weeks”
“As discussed in this MD&A, the Company is undertaking a strategic review, the results of which may result in the conclusion that a larger Board of Directors is more appropriate for the Company’s future.”
LIQUIDITY AND CAPITAL RESOURCES
At March 31, 2021, the Company had net working capital of $3.1 million compared to $6.7 million at March 31, 2020 including $3.3 million and $7.3 million, respectively, in cash and cash equivalents.
The Company has sufficient cash to meet its planned short-term corporate operating and capital requirements but does not currently have adequate funds to proceed with full-scale development of the solution mining facility. The Company is considering strategic alternatives as the ability of the Company to continue as a going concern will require further equity issuances or other forms of financing.
KARNALYTE RESOURCES MANAGEMENT’S DISCUSSION AND ANALYSIS – MARCH 31, 2021