I emailed the company I emailed investor relations and this is the response I got:
There has been no material change within the company. The President (Dom Kriangkum) wanted to sell 200,000 shares for funds to pay some bills from last year (personally). This block has been sold (effective yesterday). He still owns ~6 Million shares.
We await a decision from the Alberta government on the frac sand permit (for development). We have stated we expect this in Q3, which begins June 1. Upon receipt of the permit, we will disclose immediately.
We continue to transition from solely the management of aggregate operations (Susan lake) to opening and operating more corporate owned pits. We currently have 3 corporate operations opened; Kearl, Logan and House River. It is my understanding that Kearl is now operating near capacity, and supplying aggregates (sand and gravel) for a market determined price.
In addition, we have completed some exploration for new aggregate sources in northern Alberta, which potentially provides a long term supply of aggregates. This includes granite, dolemite and limestone. We estimate that the demand for aggregates in and around Fort McMurray to be 20 million tonnes, whereby we currently supply 50% of this demand. Our goal would be to continue to supply more aggregates from corporate owned operations, while continuing the management of Susan Lake (until contract up in 2017). The Susan Lake management contract is in year 6 of a 10 year contract, this being the second 10 year contract entered into by the company.
As with any new operations, we did experience some challenges in opening up the new operations, but believe we have resolved these issues (one was weather related, which is out of our control – excessive snow).
If you have any additional questions or comments feel free to contact myself anytime
Thank you
Dean Stuart
Boardmarker Group
T: 403 517 2270
C: 403 617 7609
E: dean@boardmarker.net
W: www.boardmarker.net
Twitter: @tsxir