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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.


TSX:KRN - Post by User

Karnalyte Resources Inc > Q1 Financials / MD&A out
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Comment by patospoweron May 16, 2022 2:08pm
187 Views
Post# 34686868

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Q1 Financials / MD&A out

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Q1 Financials / MD&A out
mdjbrown wrote:
I am curious as to the cost of this report though, as a million dollars doesnt go very far even with a bare bones operation, and that treasury balance was as of March 31/ 2022, so raising capital will likely be required at some point in the near future to keep the wheels in motion.


Hi Dan, KRN has been signaling for a while that short term funding would be required (and it falls within common sense, working capital is dwindling), and flat out said in latest MD&A they'll issue common equity in Q2. So we can expect to hear news VERY shortly on that front. 

I can't look it up right now but as far as I remember they listed 3 different avenues they're considering, one being a private placement.
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