RE:RE:RE:What I hear about SNSLooks like they have about 11 million in-the-money warrants and options which puts their EV on a fully diluted basis at $75 million. Valuation seems a little stretched right now. But under their estimates: sand prices move to $58/tonne next year, costs fall to $20/tonne and they produce 600k tonnes per year they cash flow ~$20 million. Assuming they trade at a go forward EBITDA multiple of 6.0x that backs out a >$1.20 share price.
They currenly sell 30,000T per year so you are already paying for a full ramp in production IF you want to give this thing a ~8x multiple. Not sure what a fair multiple is but for an unproven jr that seems fair. Gear energy, a jr oil and gas producer currently holds a 4x multiple.