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Select Sands Corp SLSDF


Primary Symbol: V.SNS

Select Sands Corp. is a Canada-based industrial silica product company, which wholly owns a Tier-1 silica sands property and related production facilities located near Sandtown, Arkansas. The Company is engaged in mining its 520-acre site in Arkansas named the Sandtown quarry. The property is underlain by the Ordovician St. Peter sandstone formation, the source of industrial silica sand Ottawa White frac sand, selling into various United States oil and gas and industrial and specialty end markets. These properties include sand sphericity and roundness, crush (K Value), acid solubility, turbidity and silicon dioxide (SiO2) content. The Company is focused on developing this business to enable commercial silica sand sales to industrial and energy customers. Its Plant Reconfiguration Project includes installation of dry-process equipment at the Diaz Rail Facility.


TSXV:SNS - Post by User

Comment by Frankie10on Apr 21, 2023 3:04am
109 Views
Post# 35406627

RE:RE:RE:RE:RE:RE:Someone Poke It

RE:RE:RE:RE:RE:RE:Someone Poke It

Fair question - nothing changed my mind. 

I hold nearly a million shares, so the aforementioned 50k shares that I bought and sold were not material to my overal position here and should not be used to glean any insight on my thoughts with respect to the company. As noted, I picked up the shares very cheap, then after seeing the tragic guidance provided in Q3 earnings, I knew we were going to have to wait 4/5 months before earnings/audited financials were released. Therefore, I figured I would dump the shares for a little gain and continue to patiently wait for Godot.

The debt here is not a problem. I'm not going to entertain this point.

I agree on profitability. Zig has yet to come close to hitting the 150k tons per quarter run rate. As I'm sure you know, the excuse has been railcar issues, which has since been resolved. Management here was incredible at navigating the Covid period so I cut them slack, but my patience is running out (as yours appears to have).

Truthfully, I would rather see SNS operate at maximum capacity for a couple quarters (minimum) rather than get acquired beforehand. It's impossible we the shareholders receive fair market value without this data. We have to look back half a decade here to see what EBITDA/ cash flow looked like when running at maximum capacity.

...hopefully we get some answers next week. All the best and sorry about the defensiveness.

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