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This Week’s Market Buzz

  • Proxibid was selected by Hilco Industrial and Gordon Brothers Group as one of the groups to offer live online bidding for its upcoming auction of machinery and equipment used for the production and distribution of premium grade frac sand. The auction will take place July 28 at 10:00 a.m. CST in Saskatoon, SK, Canada, with live online bidding taking place at that time via Proxibid. This auction features nearly 200 pieces of machinery and equipment from Preferred Sands of Canada. The machinery and equipment available in this auction come from the company’s Hanson Lake facility, which is being closed. The facility and equipment have been disassembled and staged for loading. Everything from dozers, loaders, excavators and rock trucks to processing and storage equipment and more is up for bid in this auction.
  • Those opposed to a proposed downtown frac sand operation in Dawson Creek, Alaska, significantly outnumber those in favor, according to the results of a poll reported by Alaska Highway News. The poll, which was not without bias, was conducted by Rushbrooke Communications and commissioned by Upper Montney Limited Partnership’s Doug Scott and Scott Butler, co-owners of the Upper Montney Estates apartments, which back onto the site of the proposed frac sand facility. An overwhelming 87 percent agreed that the project should not be located in the city's downtown. “Even 16 percent in support of the project volunteered that they did not support the location,” read a summary of the results.
  • Brazil Minerals Inc. reported that it has provided five different types of sand for detailed laboratory analysis for potential use in the fracking industry. BMIX has access to a multitude of different types of sand from its dozens of minerals rights areas and is beginning a process to identify potential locations for supply. There is a sizeable market for frac sand in Brazil, and Brazilian frac sand is also exported. The company has been approached by both a North American frac sand company and a Brazilian enterprise about a possible joint venture.