Karnalyte Resources Inc T.KRN

Annual Meeting

[patospower]

Is it just me or has KRN answered literally 0 shareholder questions?

[mdjbrown]

pp, I guess shareholders had no questions that met the predetermined criteria set out by the corporation as stated in the proxy  And unfortunately, it would appear shareholder interest is better described as disinterest when only 55.5% of the total outstanding shares were voted, with GSFC holding the majority of those shares. With the number of shares voted in favour of the GSFC reps on

[bigkagan]

I may buy some shares for 35 cents just to average down, depending what happens to the stock meanwhile. If it goes up after tomorrow, I'll definitely buy more stock on June 28. She says that the raised money will be used to advance the potash mine, so we must take her at her word

[mdjbrown]

bk, it is ironic that the total amount raised if fully subscribed is approx $1.7 million dollars as that number appeared in the last Rights Offering and Decommissioning liability amounts. Pure coincidence I am sure, but interesting none the less. The rights themselves will become a market trading tool for those holding them , just like the last one. "The Rights will trade on the TSX under

[FYFTMI]

Where did you get 1.7 mil from? Rights Offering is essentially an option grant to current shareholders. Last day to buy in is not 28 as the other poster might have hoped, it's tomorrow.

[mdjbrown]

FYF, These rights will trade on the open market just like they did the last go round Find it interesting that there is an Additional Subscription Privilege  - What is the Additional Subscription Privilege and how can you exercise this privilege? Registered holders of Rights A holder of a Rights Certificate who is not an Ineligible Shareholder and who has exercised all the Rights

[mdjbrown]

FYF, I forgot to mention, the $1.7 mil came from page 4 of the Right Offering Circular  USE OF AVAILABLE FUNDS What will our available funds be upon the closing of the rights offering? The Company estimates that it will have the following funds available after giving effect to the Offering: $1,698,059.81 assuming 15% of the Offering is subscribed to

[Trade33right]

What ever happened to the voting irregularities and the commission insuring that no shareholders were harmed. Are we just supposed to forget it ever happened?

[bigkagan]

Whatever happened happened. We have to look to the future and I like their magnesium prospects. According to the bankable feasibility study they'll produce 100,000 tons/year each of MgCl2 and Hydromagnesite which probably equals 100,000 tons of pure Mg which fetches some $5,000 per ton. If they could install at their mine some facility to refine Mg out of these magnesium salts they could make

[mdjbrown]

bk, it is impossible to move forward if heavy baggage from the past is still holding you back. The mag project still requires a gas line that will take 2 years to build and tens of millions of dollars that the corporation doesnt have My understanding was the corporation / GSFC was lobbying to the Saskatchewan government to help with those infrastucture requirements, but with all the events

[bigkagan]

With the company being run by shlemazls like these of course nothing will be done. The best option is for some big company to buy them out and develop the mine. I even e-mailed TECK and asked them to buy KRN because of this Mg resource which would make a handy addition to TECK's list of resources

[Trade33right]

Big This is the second time you have had to tell me to quit whining... I still have shares and I agree with your positive assessment of the Mg. I will try to ignore the past. Whining doesn't help and the resource IS there. I hope leadership will get us to production. 

[mdjbrown]

Huge difference between reality and whining T33, and you have been closer to the realty line, in your comments. Reality is, regardless of persuing the KCl or the Mag, hundreds of millions are required to get there, and it would appear there was difficulty in raising $5 million in the open market, so shareholders are being asked to help out. The Offering subscription deadline date will be a very