Athabasca Minerals Inc. announced the closing of the sale of Athabasca's rights, title and interests surrounding three leases bordering the Obed Transloading Facility to Wayfinder Corp. for a purchase price of $800,000 Canadian.
As part of the closing of the sale, Athabasca maintained the rights to:
- Construct, operate and maintain a drying facility on lands adjacent to the Obed facility.
- Work with Wayfinder in utilizing the existing rail infrastructure to sell certain aggregates.
- Act as a domestic supplier of sand, gravel, borrow or aggregates material to Wayfinder for Wayfinder's operations at the Obed site and adjacent leases.
- Act as a third-party contractor to Wayfinder for any road maintenance work, civil earthwork or site development work surrounding Wayfinder's operations at the Obed Facility and adjacent leases.
- Athabasca will maintain the ability to distribute frac sand from the Firebag Frac Sand Project via the Obed Facility.
The corporation also commissioned its Emerson Road Aggregate Operation. The Emerson Pit is a 55-acre parcel of land and contains an aggregate supply for immediate sale to regional customers, which includes Wayfinder and their proposed development at the Obed Facility.
The Emerson Pit is the corporation's first aggregate operation located outside of the Wood Buffalo region, and is part of the corporate mandate of diversification of operations into areas with increasing demand for sand and gravel in Western Canada.
President Scott MacDougall stated, "We are excited to work with Wayfinder on their proposed development at the Obed Facility, and look forward to supplying sand and gravel to regional customers in the Hinton and Edson area of Alberta. Our staff at Athabasca look forward to new opportunities in Western Canada, which can utilize our effective and efficient aggregate development, sales channels, production processes and inventory management."