Karnalyte Resources (TSE:KRN) Posts Earnings Results

Karnalyte Resources (TSE:KRN) posted its quarterly earnings data on Friday. The company reported C($0.01) earnings per share for the quarter, FiscalAI reports.

Karnalyte Resources Stock Down 7.1%

TSE:KRN traded down C$0.02 during mid-day trading on Friday, hitting C$0.26. 625 shares of the company’s stock traded hands, compared to its average volume of 32,218. The company has a fifty day moving average of C$0.27 and a 200 day moving average of C$0.29. The company has a debt-to-equity ratio of 0.18, a quick ratio of 6.40 and a current ratio of 2.86. Karnalyte Resources has a twelve month low of C$0.11 and a twelve month high of C$0.52. The company has a market capitalization of C$13.85 million, a P/E ratio of -13.00 and a beta of -1.35.

About Karnalyte Resources

Karnalyte Resources Inc is a development stage potash company. Karnalyte owns the Wynyard Project, with planned Phase 1 production of 675,000 t/a of high grade granular potash, and two subsequent phases of 750,000 t/a each, taking total production up to 2.175 million t/a. All environmental permits remain valid, preliminary detailed engineering is complete, and the existing Offtake Agreement with GSFC remains in effect. Karnalyte is also considering opportunities relating to secondary magnesium compounds.