Karnalyte Resources Inc. is engaged in the business of exploration and development of high quality agricultural and industrial potash and magnesium products. Karnalyte intends to develop and extract a carnallite - sylvite mineral deposit through a known solution mining process at competitive costs and with minimal environmental impact. Using a staged approached to potash plant construction, the Company plans to operate a solution mining facility that will initially produce 625,000 tonnes of potash per year, increasing to 2.125 million tonnes of potash per year. Karnalyte owns a 100% interest in Subsurface Permit KP 360A and Subsurface Mineral Lease KLSA-010 located near Wynyard, Saskatchewan, comprising a total of 85,126 acres. Karnalyte is listed on the Toronto Stock Exchange under the symbol “KRN”.
Karnalyte Resources is uniquely positioned to achieve these objectives due to:
- strong potash industry fundamentals;
- a significant potash resource with existing infrastructure;
- low capital expenditures and operating costs;
- near-term production of 625,000 tonnes per year, with plans to expand to 2.125 million tonnes per year; and
- an opportunity for expansion of both production and resource base.
Karnalyte Resources became a publicly traded company on December 14, 2010 and is traded on the Toronto Stock Exchange (TSX) under the symbol KRN.