06:27 AM EDT, 03/26/2024 (MT Newswires) -- Karnalyte Resources Inc. ( KRLTF ) overnight Monday reported full-year 2023 net and comprehensive loss of $1.4 million, or $0.03 per share, narrowing from a loss of $1.7 million, or $0.04 per share, in 2022.

As of Dec. 31, 2023, the company had cash of $2.3 million, a positive working capital of $2.1 million and no debt.

For 2024, the company plans to complete the update to tis NI 43-101 technical report. Karnalyte said it will continue to work on identifying cost efficiencies, optimizing construction and operation plans and enhancing project sustainability.

The company also plans to increase business development activities to seek out and attract investment and strategic partners to move projects to development.

Karnalyte is focused on two fertilizer projects, potash and nitrogen, to be produced and manufactured in Saskatchewan. The company owns the Wynyard potash project and is exploring the development of the Proteos nitrogen project.

Karnalyte jumped 21.9% yesterday.