Friday, March 17, 2017 12:24:18 PM
Information on their website and other earlier filings indicated that the original exploration indicated that a resource existed, but was not in a 43-101 format.
What I'm waiting for is the announcement that the 43-101 is completed. I, for one, would like to see the amount of frac sand identified in the 43-101 compliant report, the feasibility of the project, and quality of the sand. That is what, IMHO, will drive the price.
If the 43-101 indicates good or great results, which I suspect it will based on the information from the original drill program, then there maybe an opportunity to forecast a range of total amount sand across the entire 39,000 acres. I don't believe the 43-101 will project this, but we can speculate on the number.
The 43-101 will start to hint at how large this really is and start to derisk the project and move the share price up.
This all just my opinion.
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