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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

Comment by mdjbrownon Jul 09, 2022 1:12pm
238 Views
Post# 34812946

RE:RE:RE:RE:Irony at its finest!

RE:RE:RE:RE:Irony at its finest!The answers to all your questions my dear biz will be known this fall, when those involved will be asked the very same under oath.

The February 27, 2018 GSFC Memorandum sent to Karnalyte from GSFC's General Manager contains several "Proposed Amendments" and "Further Support " clauses from GSFC that in my opinion would have been very beneficial to all shareholders at that time.  The Nitrogen project, Selective solution mining pilot project, and the Wynyard carnalitte project were all ready for advancement, as well as some other positive initiatives and GSFC was willing to accept 2,783,539 common shares for their financial contributions confirmed in the Memorandum to move Karnalyte forward.

Unfortunately, most had no clue about this potential game changing deal on the table for shareholders compared to the eventual highly dilutive 10,000,000 common share arrangement handed to GSFC 9 months later for arguably very little benefit to Karnalyte or its shareholders.

Every shareholder in 2018 has a right to the truth, and in so knowing why GSFC's and the Chairman's months of hard work in creating shareholder value was completely ignored, and why the majority of the board appeared to be caught off guard after an email was recieved at 10:58 on the morning of May 25, 2018.

The who's and why's behind kiboshing the opportunities offered by GSFC are becoming very clear after one of the directors was questioned in this past spring, but further information is required from the others before that information gathering process is complete.

Its no wonder a GSFC representitive sitting on the Krn board wrote a very pointed email to the Krn board and management in June of 2019 expressing his thoughts about how things were going..


Stay tuned, as this fall should be very interesting  







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