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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 16, 2021 11:12am
209 Views
Post# 33559414

Unfortunately legal costs from 2017 through Dec 31, 2020

Unfortunately legal costs from 2017 through Dec 31, 2020would have covered the majority of the initial nitrogen feasibility plans by the looks of the corporate audited financial statements:

Of course in the 2018 disclosure the legal costs of putting together the Rights Offering would be included in that $1,381,000 amount.


10. Nature of general and administrative expenses The Company is required to present its financial performance by nature or by function. The Company has presented its financial performance by the underlying nature of the expense with the exception of general and administrative expenses. Had the general and administrative expenses been presented by their nature, the Company would disclose ......   

.......... accounting and legal of $1,381,000 (2017 - $540,000) for the years ending December 31, 2018 and 2017.
 
…….   accounting and legal of $564,000 (2018 - $1,381,000) for the years ending December 31, 2019 and 2018.
 
……     accounting and legal of $905,000 (2019 - $564,000) for the year ending December 31, 2020.


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