Updated Coverage from Zacks Small Cap Research
An excerpt as well as a link to the complete report can be found below.
SNS.V: Select Sands reports 1st Fiscal Quarter Results: Very Healthy Working Capital
By Steven Ralston
“The prospective industrial/frac sand property is being fast-tracked for development. Test production started at Sandtown during October. Management contracted Explosive Contractors Inc. of Hollister Missouri to extract the first test silica sand from the starter pit and anticipates approximately 2,000 tons out of the 5,600 tons of extracted silica sand will be processed (crushed and screened). The company is in advanced negotiations with nearby processing plant operators. At least one processing plant operator has been identified in the area that can produce finished silica products, (especially finer-mesh, high-purity white sand) on a toll basis, whereby the sand will be processed for a volume-based fee. The first finished product is expected to be delivered to potential customers in the industrial (glass-making, foundry and building) and/or energy (hydraulic fracturing and well cementing) markets. In November, the company hired Carl Buchanan as an Industrial Sales Specialist with responsibility for generating silica sales into the industrial and oil & gas industries. Previously, Mr. Buchanan worked 16+ years for US Silica (SLCA), most recently as a Regional Manager. “