Select Sands Corp SLSDF

Update

[Frankie10]

SNS updates are now posted to LinkedIn rather than SEDAR...

EAGLEFORD update; 

 

At Select Sands we continue to be RELIABLE. We’ve done it consistently, every month the past 3.5 years for one large cap operator, even keeping them sanded when they were facing shutting down wells due to other sand sources being short sand. Who did they come to regularly in shut down situations in addition to our already committed tonnage to them? SELECT SANDS time and again. We pride ourselves in DOING THE RIGHT THING, because when you are a supplier, your priority is ALWAYS being RELIABLE and FLEXIBLE. Video is out of date regarding this contracted customer, but the rest remains the same. We are COMMITTED for YEARS to come for TRANSLOADING SERVICES to OTHER SUPPLIERS and the SUPPLY of our NEAR BASIN NWS 100m (60/140), 4070 and 30/50, as well as 100m (50/140) and 200m (when available per request). We thank our more than 12 spot customets in STX and although we are contracted with one customer, holler at me if you wish to visit about any projects. We are easy to work with and value working with those who value a RELIABLE frac sand supplier.

 

Thanks, 

 

Joe O’Rourke 713-689-8000

 

[biggame]

I see they are selling 3 seperators that have not been used much. Anyone know how many seperators select sands has. Company is raising cash. 2nd quarter out soon. 

[Dexo89]

Oof, where'd you see that? 

[biggame]

https://www.linkedin.com/posts/w-joe-o-rourke-24705159_hi-folks-we-are-marketing-some-equipment-activity-7095157340412252160-mdDN

[biggame]

Once we get another million plus loss in Q3 will we still be in business next year? 

[Dexo89]

I think so.  They've dialed back operations due to the soft sales to conserve capital and mentioned more leads for fourth quarter.  A very disappointing year for sure, but maybe not surprising with the low number of new wells being drilled.  Is anyone else surprised at record US production levels on the back of significantly lower numbers of rigs?  Some really big

[biggame]

Just looking back many years at news  when comapny bought sandtown. Total life-of-mine revenue was estimated at about US$766.5 million, while total operating costs over the life of the mine were pegged at about US$359.1 million. The PEA also envisaged total operating profit of approximately US$407.4 million.

[Dexo89]

That leaves many millions in profits left to generate .  Shouldn't have taken till now to come up with the idea of an alternative market for product.  Maybe they sell some for glass, maybe not.  Shale ain't dead though, that's still the reason I'm in.

[biggame]

management is so far defying financial gravity.there are some serious debt payments coming up $3.385mil in2024. running at 20-27% of capacity is not cutting it. Alternate markets not a new idea, refer to 2016 article   https://stockhouse.com/opinion/independent-reports/2016/02/09/select-sands-sns-v-to-diversify-from-oil-gas-market continues million dollar plus quarterly losses are

[Dexo89]

For the record the millions in the ground comment was tongue in cheek, I agree that they need to be running at capacity.  Do you think the reason alternate markets weren't capitalized on/pursued was because of the change in CEO?  Rasool used to comment on this page but haven't heard from him in a while.

[biggame]

The pursuit of the glass market as a way to sell finer mesh sand is just another vague announcement in quarterly report. It is hard to pin down a business strategy , loosing in excess of $1 every quarter is unsustainable. 

[biggame]

The pursuit of the glass market as a way to sell finer mesh sand is just another vague announcement in quarterly report. It is hard to pin down a business strategy , loosing in excess of $1million every quarter is unsustainable.