Business
KARNALYTE RESOURCES INC. ANNOUNCES FIRST QUARTER 2011 RESULTS
May 12, 2011 (Canada NewsWire Group) -- CALGARY, May 12 /CNW/ - Karnalyte Resources Inc. (&qu...
About this update from Karnalyte Resources Inc.
[{"type":"text","content":"\n\n\n May 12, 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, May 12 /CNW/ - Karnalyte Resources Inc. ("Karnalyte" or the\n "Corporation") (TSX: KRN) today announced its financial results and\n operational highlights for the quarter ended March 31, 2011.\n\n\n"This quarter, Karnalyte accomplished several key goals that are\n essential to the progression of the Wynyard Carnalite Project," said\n Robin Phinney, President and CEO of Karnalyte Resources Inc. "The\n Subsurface Mineral Lease we obtained encompasses the area for the\n Environmental Impact Statement and feasibility study that Foster\n Wheeler, GeoEngineers and ERCOSPLAN will complete this year. The\n drilling licenses we received enable us to continue the exploration and\n development of our lease and permit holdings so that we may prepare for\n the construction of a commercial potash facility and pursue additional\n potash resources."\n\n\nKarnalyte's First Quarter 2011 Financial Statements and Management's\n Discussion and Analysis (MD&A) are available at www.sedar.com.\n\n\nSelected Highlights\n\n\n\nClosed the over-allotment option granted in connection with its December\n 2010 initial public offering in January 2011, raising an additional\n $4,042,000 for total gross proceeds of more than $64 million;\n\n\nSelected engineering firm, Foster Wheeler, in January 2011, to lead the\n feasibility study, in conjunction with GeoEngineers Inc. and ERCOSPLAN\n Ingenieurgesel...