Karnalyte Resources Inc T.KRN

Letter to Interim CEO

[AriW16o]

Dear Ms Danielle Favreau,

first of all I wish you a happy new year!

In name of all true concerned shareholders I would like to ask you to stop any lawsuits against our founders and/or fellow shareholders made by the past management/BoD.  Those lawsuits won't bring any shareholders value but instead just bad image for the company.

I trust you will do your best for current situation and issues. Thank you.

[mdjbrown]

Well said Ari It is just as important that the new management team / BOD acknowledge that the very personal attack on the founder of the company by previous management / BOD was a disgusting abuse of power, and cost all shareholders dearly. That sends a crystal clear message that those past practices will not be tolerated, and that the company will get to the bottom of who exactly was

[SamSlade]

That's quite the read and vindication for Robin. I hope he can use the thoughts, in the Court's decision, to consider returning to Karnlayte in some capacity and make his and investors dreams come to fruition. I think the balls in Management's court to move this project forward for all shareholders. Sam

[mdjbrown]

SS, it is certainly going to get interesting in the next few months. It was reported that as at Sept 30th, 2020 the corporation had $ 5.9 million in cash remaining It was also reported that there was $2.9 million in liabilities on the books Since that Q3 report, KRN warned that the recent investigation into the CSG allegations was going to cost thousands. They also warned the Special meeting

[AriW16o]

I hope the company's founder willing to accept shares for debt settlement. Fair and win / win solution. Not additional burden to remaining treasures. Current management / BoD must act quickly to settle all crazy lawsuits from the past so this company can finally move forward. 

[Pedronocents]

It's nice to see some justice rewarded by the courts but it never should have gone to that extent. Unfortunately not all sides were honest and upfront with their intentions and to what means they would go to twist and turn the tables. I have been out of Karnalyte for a couple years now after being sickened by the goings on and can only feel sorrow for those who trusted and believed in this

[patospower]

The company has lost focus since they got rid of the founder (again). The Indians turned out to be too broke to back the project, got cold feet and mothballed it. We have been stuck in strategic drift and boardroom drama hell since because they also had no plan for mothballing it properly. The company is now helmed by well-meaning people who are, unfortunately, accountants and not miners.

[mdjbrown]

Pedro, thank you very much for your wishes of luck, but I think all Krn shareholders need a real big good luck wish. The significance of the solicitor / client costs award from a very respected senior justice may prove very problematic in future lawsuits brought against Krn due to conduct perception.  "Solicitor-client costs are generally awarded only when there has been reprehensible,

[AriW16o]

very ridiculous to see all the money burned to pay all those lawsuits instead of something meaningfull. BoD and/or Management can't see that? Settle quickly before too late... Of course founder should be compensated fairly, too much damage for his reputation.  Three new lawsuits from whom? Scooby Doo and the gangs again??? Omg

[mdjbrown]

Unfortunately Ari, the mountain of disfunction left for the interim CEO and the Board of directors by the old guard is going to be a tough climb. I really feel for them, as what can they do, when the majority of the turmoil stemmed from the May / June 2018 attacks on shareholders prior to the 2018 AGM, and those ill advised actions taken by the CSG are now coming back to haunt the company. If

[patospower]

In your opinion what could be GSFC's endgame plan here?