The Financial Post reported that Karnalyte Resources (OTC: KRLTF) is moving ahead with its Wynyard project after securing a $300 million debt facility underwritten by BNP Paribas and Natixis.

As quoted in the Financial Post report:

A US$300-million financing would cover nearly half the cost required to get the mine into its first phase of production. But the other half remains a big challenge, and the debt facility is contingent on Karnalyte financing that half on its own.

To view the whole Financial Post report, click here.