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KARNALYTE RESOURCES ANNOUNCES CORPORATE UPDATE, SETTLEMENT OF LAWSUIT, AND ELECTION OF HIGHLY QUALIFIED NEW DIRECTOR
KARNALYTE RESOURCES ANNOUNCES CORPORATE UPDATE, SETTLEMENT OF LAWSUIT, AND ELECTION OF HIGHLY QUA...
About this update from Karnalyte Resources Inc.
[{"type":"text","content":"\n \n \n \n KARNALYTE RESOURCES ANNOUNCES CORPORATE UPDATE, SETTLEMENT OF LAWSUIT, AND ELECTION OF HIGHLY QUALIFIED NEW DIRECTOR\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n /NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN\n \n THE UNITED STATES\n \n ./\n \n \n \n \n \n SASKATOON, SK\n \n \n ,\n \n \n July 4, 2023\n \n \n /CNW/ - Karnalyte Resources Inc. (\"\n \n Karnalyte\n \n \" or the \"\n \n Company\n \n \") (TSX: KRN), is pleased to provide a corporate update, as well as announce the election of a highly qualified new director to the board and the settlement of a lawsuit.\n \n \n \n \n \n \n \n \n \n These developments demonstrate the Company's commitment to optimizing the Wynyard Potash Project, resolving legal matters and to ensuring excellence in corporate governance.\n \n \n \n Corporate Update on NI 43-101 technical report\n \n \n \n As previously announced, based on an improvement in potash commodity price trends that began in 2021, Karnalyte decided to proceed with an update to its NI 43-101 compliant technical report as part of the Company's strategic development plan. Karnalyte remains focused on the update to its NI 43-101 compliant technical report, a key precursor to any mine construction. Most recently, this included work done by Karnalyte and its advisors to identify cost efficiencies, optimize construction and operation plans, and enhance project sustainability.\n \n \n In furtherance of these efforts, Karnalyte has now tasked Wood PLC, a leading global consulting and engineering company and the independent lead author of the update, with undertaking additional evaluation of cost savings related to the compaction, drilling and insulation areas of the potash operation. A capital cost estimate workshop will also be held to identify further reductions in CAPEX. Karnalyte will provide a further update as appropriate when the technical report is finalized.\n \n \n \n Election of a highly qualified new director\n \n \n \n The Company is pleased to announce t...