Rock Products - The Leading Voice of the Aggregate Industries.

This Week’s Market Buzz

  • Claim Post Resources Inc. signed an Engagement Letter with P&E Mining Consultants Inc. to complete a Preliminary Economic Assessment (PEA) on the company's Seymourville Frac Sand Project located approximately 200 km north east of Winnipeg, Manitoba. P&E will be retaining Consultec Ltd. to assist in the to provide technical input into the frac sand plant material handling design plus complete a preliminary design of a transload facility in Winnipeg. The PEA will be prepared according to the guidelines set out in National Instrument 43-101.
  • According to Niobara News, at Barclays CEO Energy-Power Conference held on September 2, Halliburton’s management reported that the service company was experiencing increased frac volumes due to the intensity of Niobrara and Bakken well design enhancements. The increased frac volumes had the effect of soaking up excess fracking crew capacity, as well as presenting logistical challenges in delivering enough frac sand to sites with the existing rail infrastructure. Halliburton’s slides from the conference implied that well redesign had increased frac sand consumption from 20 rail cars to 75 rail cars per well in the Niobrara and Bakken plays.
  • La Ronge Gold Corp. announced that the proposed 100 percent acquisition of the assets and business of Canfrac Sands Ltd. and concurrent $7,000,000 subscription receipts financing has been terminated; instead the company will release the remainder of its $1,000,000 deposit to Canfrac in exchange for a 22 percent equity stake in Canfrac, pro-rata subscription rights for any future securities issue by Canfrac, and representation on Canfrac's board. La Ronge will not retain Canfrac Sands board of directors and management team including, Chris Friesen, David Brough and Tony Yip. Additionally, La Ronge would like to announce that the company has been actively searching for, and pursuing, opportunities in the U.S. frac sand market. The company has identified and is currently evaluating multiple Tier 1 frac sand projects in the southern United States.