C0p3hagu3n wrote:
LeMarcus wrote: deet wrote:
I just had a look at SNS. They are already producing silica and still sitting at a measly 32 cents? The annual high is just 49 cents? What gives? Are they losing money or something? I would have thought that a company in production...with only 55 million shares outstanding would be worth more than 32 cents. How much will RRS shares be worth once we start producing?
deet
SNS are in "commercial" production... looking for buyers! I think they have only one small client for 6k tons or so...That explains SP until it gets some sort of major offtake... it's currently doing not much business...
SP of any company depends on many factors... which will be easier to determine when RRS completes the PEA in Sept.
I've been in/out of SNS a few times, just exited yesterday in-fact and have a few bids right now at .225/.23, usually SNS goes to the bottom of .22 and a high of .28/.315 During these last days an increase in SP substantially... due to noise and the just acquired gold part of the company. I see a future on SNS, once they get new customers the SP will follow higher levels.
I look forward as-well for the RRS PEA in september...
--- Headquartered in Vancouver, Select Sands (CLICF) (TSX:SNS.V) is an early-stage frac sand (oil & gas proppant) company engaged in the exploration and development of a frac sand property (Sandtown) located in northeast Arkansas near Cave City. A recently completed NI 43-101-compliant Mineral Resource Estimate and PEA includes a resource estimate of 22 million tons of medium-to-fine-grained, well-rounded, high-purity sandstone, which is prospective for use as frac sand and other industrial silica applications. Strategically located closer to the major Texas and Louisiana shale plays than the Wisconsin sources of frac sand, the Sandtown property has intrinsic logistical advantages versus competitors.
In October 2014, the company entered into an option to acquire a 100% interest in the 520-acre prospective property, which can be acquired by Select Sands through the payment of $936,000, of which $200,000 has already been paid with the balance due on or before April 25, 2016, (which can even be delayed until April 25, 2018, under different payment terms). On May 1, 2015, an unconditional Authorization to Quarry was issued by the Arkansas Department of Environmental Quality to Select Sands. The permit is valid for a 5-year period ending April 30, 2020.