Karnalyte Resources Inc T.KRN

Irony at its finest!

[mdjbrown]

The absolute irony here biz is in a couple months PADCOMs team will be flowing brine and testing their production wells in hopes of becoming the first ever breakthrough Horizontal Selective Solution mine of its kind in the world, while at the same time previous Karnalyte directors and execs will be answering lawyer’s questions for their part in events that took place in 2018, which directly submarined the chances of the same PADCOM operator building that worlds first selective solution potash mine in Wynyard instead of 4 years later in Manitoba, and as a direct result has since cost shareholders millions of dollars in legal costs fighting those who tried to bring that once in a lifetime opportunity to Karnalyte and its shareholders.


Lots of buzz being generated at the exciting possibilities, and it could just as easily have been Karnalytes shareholders along for the ride on that exciting journey.

https://ca.movies.yahoo.com/movies/excitement-grows-over-potash-mine-195351413.html

50% of the board at that time were ready to enjoy the ride creating value for the rest of us, so what happened?

I guess we will all find that out very soon in a couple months time.................

[businessense]

...and what would have been the trade off? I am certain they were not doing it in the kindness of their heart. Technique, purity, quantity, returns, etc.  Certainly do not have any number to say it would have been profitable and now you have a thrid party involved. We know how that has turned out in the past. Whether they can do this without bringing in too many other player will impact

[mdjbrown]

biz, both GSFC and the Krn Chairman at the time worked diligently in moving forward with several initiatives to create value for all shareholders, and they should be commended for trying to put something together at a time when shareholder frustration was very high.   "GSFC has had a chance to consider this proposal, and they are agreeable to pursuing negotiations in respect of

[bigkagan]

They are delaying the tech update, I wonder why. Like they claim it's because of the supply chain disruptions which is a ridiculous argument. I think there are some background discussions with somebody, let's wait and see

[mdjbrown]

bk, it will be very interesting to see what happens if the shareprice drops well below the Rights subsciption price, as there is still another 3 weeks before the offering expires and no rush for shareholders to pull the trigger. The Rights currently cant trade any lower, and with the markets trending downwards across both sides of the border including most potash companies, it may put pressure on

[businessense]

And to my point, what did the Memoradum say and eventually the "reason" nothing happened an on which side?

[mdjbrown]

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