Karnalyte Resources (TSX:KRN) announced positive preliminary feasibility study results for magnesium compounds.
As quoted in the press release:
The PFS was prepared by Lyntek Incorporated (“Lyntek”) and provides for a facility (“Magnesium Product Facility”) with an annual capacity of 100,000 tonnes per year (“tpy”) of Magnesium Chloride (“MgCl2″) brine at 32% MgCl2 concentration and 104,000 tpy of Hydromagnesite, a form of Basic Magnesium Carbonate (“BMC”), at 99% purity. The construction of the Magnesium Product Facility is contingent upon the development of the 625,000 tpy Potash facility.
Robin Phinney, President and CEO of Karnalyte Resources, commented:
Karnalyte has developed an innovative process for producing 99% pure basic magnesium carbonate with characteristics that are superior to those of BMC currently available on the market. This study further validates the value of our Wynyard Carnallite Project and confirms the viability of a diversified product stream that will help maximize future revenues.
Why Have Most Investors Forgotten About Metals - One Of The Safest Investments In The World?
Discover everything you need to know to diversify your portfolio with metals. Click below to download a FREE industry report on critical metals investing.