North America Frac Sand Inc (NAFS)

[Grayhair]

This is what I took from "Source Energy's" announcement:
1) Frac sand market is "hot" and demand is going to increase.
2) They are using the proceeds to pay for previous purchases and pay down debt.
3) Their main area of activity is in Western Canada, thus confirming that the demand for frac sand is there and it's increasing in demand for that part of the continent. (Good for NAFS)
4) Their main source of frac sand is form the US. (NAFS has a competitive advantage due to its property's closer proximity to Western Canada, thus reducing transportation costs)
5) $17.00 to $20.00 per share for a 2,000,000 ton per year annual capacity. If the market cap is $900,000,000 based on a 2,000,000 ton capacity. This suggests some great expectations for NAFS.
6) When NAFS releases the 43-101 we should do very well.