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Karnalyte Resources Secures $300 Million for Wynyard, Still Needs to Raise $250 Million
Jun. 17, 2013 06:25AM PST
Potash InvestingThe 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.
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.