Claim Post Financial Offering to Benefit Seymoursville Project

Claim Post Resources Inc. announced that it intends to conduct a non-brokered private placement of unsecured convertible debentures for total gross proceeds of up to $3 million at a price of $1,000 and integral multiples thereof per Debenture, the company said.

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Eagle Materials Quarterly Frac Sand Business Up 98 Percent

Eagle Materials Inc. reported financial results for fiscal year 2017 and the fiscal fourth quarter ended March 31, 2017. Notable items for the fiscal year and quarter include:

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Smart Sand revenues Jump 141 Percent

Smart Sand, Inc. announced results for the first quarter ended March 31, 2017. “Smart Sand had a strong first quarter, substantially increasing our sales volume sequentially and year over year,” stated Charles Young, chief executive officer. “We believe this is evidence that oil and gas industry activity is continuing to improve and demand for frac sand is continuing to increase. As a result of the increased market demand for our high quality, finer mesh Northern White frac sand, we have decided to move forward with an expansion to 5.5 million tons of nameplate annual capacity by year-end. We also believe there are cost efficiencies we can realize as the result of building two dry plants and a wet plant in an integrated design. While our primary focus remains on growing our Oakdale facility and enhancing its logistics and operational capabilities, we will continue to explore regional sand, in-basin transloads and last mile logistical opportunities. We believe that as we operate near full-capacity, we will see cost improvements and pricing increases which will help us in continuing to deliver strong financial results for our investors.”

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Syverson: The Market Has Reawakened

Kent Syverson, chairman of University of Wisconsin-Eau Claire’s geology department, told the Eau Clair, Wis., Leader-Telegram, “The [frac sand] industry was fairly dormant for a while, but now it has reawakened.” Syverson added, “These mines are going full out again.”

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This Week’s Market Buzz

• According to the Winona Post, the Land Stewardship Project (LSP) made a move to join the legal battle over Winona County’s frac sand ban. Attorneys for LSP filed a motion to intervene in a lawsuit challenging the county’s ban on mining sand for industrial purposes. If the motion is granted, LSP “will defend the lawsuit shoulder-to-shoulder with the county,” LSP attorney Ed Walsh stated. Potentially, LSP could also block the county from reaching a settlement that weakens or dismantles the ban, according to Walsh.

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