VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 15, 2016) - Select Sands Corporation (TSX VENTURE:SNS)(OTC:CLICF) is pleased to announce a conference call with management to discuss the recently announced purchase of the wet processing plant as well as general market update of the supply demand in the silica sands market.
Select Sands CEO Rasool Mohammad, CFO Darren Urquhart and Chairman Arnold Tenney will give a corporate update followed by a brief question and answer period.
The call is scheduled to take place on Wednesday, September 21st at 12:00 EST (9:00 PST) and can be accessed by dialing the following numbers:
Operator Assisted Toll-Free Dial-In Number: (877) 291-4570
Local, Toronto GTA or Outside North America Dial-In #: (647) 788-4919
A playback of the call will be available upon request.
About Select Sands Corp.
Select Sands' Sandtown property, located in northeast Arkansas, USA, is underlain by the Ordovician St. Peter sandstone formation, which is a major source of Northern White Silica Sand.'). Compared to competitive sand mines located in Wisconsin owned by the largest US frac sand producers, Sandtown has a competitive location advantage as it is approximately 650 rail miles closer to the Texas/Louisiana oil/gas plays as well as the Houston port and industrial hub.
The Company acquired a wet processing plant to produce Northern White 40/70 and 100 mesh silica sand products with daily capacity of upto1,500 tons per day (see August 23, 2016 News Release). The wet processing plant includes feed hopper, conveyor, classifiers, cyclones, and control building and is optimized to increase its daily capacity at minimal cost as needed. The Company continues to seek additional opportunities in the region to secure strategic assets that will continue to optimize production
The Company has acquired 20 million common shares of Comstock Metals Ltd. pursuant to its sale of its gold assets to Comstock as set forth in the company's press release issued on Sept. 14, 2016. The 20 million shares were issued at a deemed price of 29 cents per share for total deemed consideration of $5.8-million. After giving effect to the acquisition by the company of the 20 million shares common shares, the company had ownership or control, directly or indirectly, over a total of 20 million common shares, representing approximately 35.4 per cent of the issued and outstanding common shares of Comstock.
As per the June 2015 PEA report by Tetra Tech of Golden, Colorado, USA and Vancouver, BC, Canada, the Sandtown property has a pre-tax net present value of US $160 million and a post-tax net present value of US$92 million. The PEA was completed on a portion of the current silica sand mineral resources (see the Select Sands' June 10, 2015 News Release). Select Sands would like to remind investors that mineral resources for the Sandtown Property are not mineral reserves and do not have demonstrated economic viability and there is no certainty that this PEA will be realized. Subsequent to the completion of the 2015 PEA, Select Sands announced an updated mineral resource estimate for the Sandtown property totaling 41.98 Million Tons of Indicated silica sand mineral resources (see the Select Sands February 10, 2016 news release).
For more information about Select Sands Corp., please visit www.selectsandscorp.com
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