A Calgary-based company is making its presence felt with its success at getting high-premium sand to market. It could be one of the best-kept secrets in Western Canada.
Canadian Premium Sand Inc. (TSX-Venture:CPS) has completed its first shipment of Northern White silica sand to a customer's terminal in Western Canada, sourced from an operating mine in Wisconsin via the CN Rail network. It justifies the company’s efforts to establish sales channels into the West. It means CPS customers may now request quotes and buy the product on line.
Enthuses CEO Glenn Leroux, "Delivery of our first shipment marks a significant positive step towards establishing CPS as a frac-sand supplier to our Canadian client base. Achieving this milestone is at the core of the Company’s broader strategy of phasing entry into this market and establishing a customer-base for future sales from Wanipigow, Manitoba when operational."
The Wanipigow Sand Resource consists of 41.5 million tonnes of Measured Resource, 8.1 million tonnes of Indicated Resource and 97.3 million tonnes of Inferred Resource. Monday’s news release issued a caution, however, in that mineral resources are not mineral reserves and do not have demonstrated economic viability.
Shares in the company were not necessarily selling like hotcakes Monday, but the price went skyward; up eight cents, or 8.9%, to 98 cents, on 5,000 share volume.
