North America Frac Sand Inc (NAFS)

[Grayhair]

SS: I checked SLSDF on their timing to release the 43-101 update after the drilling. They drilled in October and released the update in February. It took about 4 months for them. They already had a 43-101 from the previous year.
It appears that NAFS, although they had access to work (drilling, etc) from the previous owner/engineer, it was not in a format of a 43-101. NAFS did not close the acquisition of the deal until sometime last August. It also appears that although they retained Northwest prior to August, my guess, and it strictly that, a guess, is that no real work was started on the 43-101 until after the deal closed.
The other factor that may have come into play, again this is strictly a guess based on my many years of working with engineers, is that the new firm spent a fair amount of time reviewing the data from the original drill program prior to establishing targets and proceeding with another drill program.
If this is the case, then the time lines seem to be where they should be, given that Northwest is preparing a resource estimate and preparing development scenarios as well as crunching numbers for project feasibility.
I agree that the 43-101 is going to be the impetuous that moves the price. I definitely would be very pleased with 100% to 500% increase as you suggested.
I'm looking forward to the 43-101.