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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

Post by mdjbrownon Jul 14, 2021 9:14am
216 Views
Post# 33541503

An update from the corporation would be great

An update from the corporation would be greatI get asked all the time -

Where does the company stand with its lawsuits as these hurdles will be a huge drain on the remaining treasury, if the first one is any indication. More than a $million dollars was spent and for what benefit to shareholders?



At last update I seem to recall 5 or 6 lawsuits still remaining on the books, depending on if a past CEO wrongful dismissal suit has been settled.

How do these lawsuits fit into the last corporate strategy update:

"Specifically, the report recommended that Karnalyte investigate alternative sources of funding to extend the operational runway, monetize existing assets to preserve a financial and liquidity foundation and maintain the minimum requirements to sustain an exchange listing."
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