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This Week’s Market Buzz

  • In his State of the Union Address, President Obama spoke about the importance of natural gas as an energy source. “One of the reasons why is natural gas – if extracted safely, [is] the bridge fuel that can power our economy with less of the carbon pollution that causes climate change. Businesses plan to invest almost $100 billion in new factories that use natural gas. I’ll cut red tape to help states get those factories built, and this Congress can help by putting people to work building fueling stations that shift more cars and trucks from foreign oil to American natural gas. My administration will keep working with the industry to sustain production and job growth while strengthening protection of our air, our water, and our communities.”

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This Week’s Market Buzz

  • According to the Winona Daily News, a public hearing on a Glacier Sands application to create a 350-acre industrial zone in the town of Milton, Minn., will be held Feb. 13 before the Buffalo County Land Resources/Zoning Committee. Glacier Sands seeks to rezone agricultural land to industrial use as first step in a larger plan to seek permits for building a railway trans-loading facility for shipping frac sand and grain. The proposed operation is similar to a 2012 project Glacier Sands sought permitting for in the same location, which was denied.

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This Week’s Market Buzz

  • Toronto, Canada-based Claim Post Resources closed a second level of financing that will be used to: 1) carry out a minimum 1,000-meter drilling program towards completing a resource estimation of the Seymourville Frac Sand Project in accordance with NI 43-101 standards; 2) to complete a preliminary economic assessment on the project, which will allow the company to test the market for forward-selling frac sand; and 3) for general working capital purposes. Also, Claim Post Resources Director Julian Kemp decided not to run for re-election at the annual meeting. Management thanked him for his sage advice and timely decision making. He has been instrumental to the success of Claim Post and has been a director since 2006.

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This Week’s Market Buzz

  • Victory Nickel Inc. finalized its supply contract for washed concentrated sand to be delivered for finish processing at its new Seven Persons frac sand plant (the 7P Plant) near Medicine Hat, Alberta. The completion of this agreement ensures the availability of the highest quality Jordan formation sand from Wisconsin and also provides Victory Nickel with the opportunity to participate in a joint venture on several properties in Wisconsin and Minnesota guaranteeing it a long-term supply of sand, the company said.

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This Week’s Market Buzz

  • Eau Claire County, Wis., is re-evaluating its guidelines for groundwater, according to a report on WQOW TV. The county’s Groundwater Advisory Committee is focusing on the demand for water and the impact of that demand, in light of local frac sand production which uses high-capacity wells that handle anywhere from a few thousand gallons to a several million per year. The last manual was written in 1995 and with new data, the committee hopes to be able to identify groundwater concerns and how to best address them.

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