Long-time favorite Stage 2 growth stock Select Sands is on the move again. It broke out of an intermediate consolidation pattern late last week on the news that it has completed a 43 – 101 resource calculation on its Bell Farm property that gives it another 49.6 million tons of sand
, in addition to its existing resources at its Sandtown project.
Things look excellent for this company. Being in Arkansas they are much closer to their markets in Texas and Oklahoma etc than their competitors, many of whom are up in Wisconsin, which is a big cost consideration when you are hauling thousands of tons of sand around, have plenty of customers lined up, and now this. Small wonder then that the long-term uptrend is reasserting itself.
We expected this development and bought the stock back immediately after a sharp drop in February
, and although we had to wait 2 months for the expected new uptrend to begin, are already well up after Friday’s 14% gain, and we stay long for a continuation of the advance which is likely to take the price to new highs and be of similar magnitude to the December – January upleg.
Select Sands website
Select Sands Corp SNS.V, SLSDF on OTC, closed at C$1.77, $1.33 on 13th April 17.
Posted at 6.00 am on 17th April 17.