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Karnalyte Resources Inc. Provides Update on the Proteos Nitrogen Project and Announces Director Changes
Karnalyte Resources Inc. Provides Update on the Proteos Nitrogen Project and Announces Dir...
About this update from Karnalyte Resources Inc.
[{"type":"text","content":"\n\n\n\nKarnalyte Resources Inc. Provides Update on the Proteos Nitrogen Project and Announces Director Changes\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\nCanada NewsWire\nSASKATOON, Dec. 23, 2019\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./\n SASKATOON, Dec. 23, 2019 /CNW/ - Karnalyte Resources Inc. (\"Karnalyte\" or the \"Company\") (TSX: KRN) provided today an update on its Proteos Nitrogen Project and announced director changes.\n\n \n \n\n \nProteos Nitrogen\nKarnalyte is pleased to announce that it has received a first draft of the pre-feasibility study for the Proteos Nitrogen Project which the Company announced it was developing on November 5th, 2019. The study includes investigation and analysis of project location and site selection, an evaluation of the production process and technology options, a project description, analysis of process selection for both the ammonia and urea plants, an analysis of raw material, utility and product specifications, an analysis of environmental implications, financial analysis, and identification and analysis of the risks inherent in the project. The study also contemplates a project implementation plan and time schedule. The report is still in a draft stage and the Company plans to finalize the report before the end for the first quarter of 2020. \nDirector ChangesThe Company is also pleased to announce that it has appointed Gerald Scherman of Saskatoon, Saskatchewan as an independent director. Mr. Scherman, a CPA, CA, is currently retired, after more than 15 years with AREVA Resources Canada Inc. \"AREVA\" (now ORANO Canada Inc.). He retired from AREVA as its Senior Vice President & Chief Financial Officer and a member of its Board of Directors. Prior to joining AREVA, Mr. Scherman was a partner with Coopers & Lybrand (now Pricewaterhouse Coopers LLP) a national accounting firm. Mr. Scherman brings to the board a wealth of experience in the mining sector. \nWith the appointment of Mr. Scherman, incumbent director Mr. W. Tod...