Business
KARNALYTE RESOURCES INC. ANNOUNCES 2010 YEAR END RESULTS
Mar. 9, 2011 (Canada NewsWire Group) -- CALGARY, March 9 /CNW/ - Karnalyte Resources Inc. (&q...
About this update from Karnalyte Resources Inc.
[{"type":"text","content":"\n\n\n Mar. 9, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nCALGARY, March 9 /CNW/ - Karnalyte Resources Inc. ("Karnalyte" or the\n "Corporation") (TSX: KRN) today announced its financial results and\n operational highlights for the year ended December 31, 2010.\n\n\n"2010 was marked with significant company milestones including a\n successful initial public offering and the conversion of a portion of\n our property to a lease, which enables us to proceed with commercial\n potash development," said Robin Phinney, President and CEO of Karnalyte\n Resources Inc. "Karnalyte continues to execute on its development\n strategy by advancing the feasibility study and Environmental Impact\n Statement, and by further expanding our exploration program."\n\n\nKarnalyte's 2010 Year End Financial Statements and Management's\n Discussion and Analysis (MD&A) are available at www.sedar.com.\n\n\nSelected Highlights\n\n\n\nReceived the Preliminary Assessment which includes NI 43-101 Resource\n Estimate estimating the Indicated Mineral Resource and Inferred Mineral\n Resource for the Wynyard Carnallite Project to equal approximately 56.2\n and 186.3 million tonnes of potash, respectively;\n\n\n\n\nCompleted IPO in December 2010, with exercise of over-allotment option\n in January 2011, raising gross proceeds of more than $64 million;\n\n\nSelected world-renowned engineering firm, Foster Wheeler, to lead the\n feasibility study, in conjunction with GeoEng...