La Ronge Gold Corp. (TSXV: LAR.V) said Oct. 29 that CanFrac Sands Corp. sold about 26.4 tonnes of frack sand from July 1 to Sept. 30, its third quarter. La Ronge has a 22% equity stake in CanFrac, the company added.
The amount sold generated $357,840.67 of net income on the quarter’s total revenue, which was roughly CA$1.4 million.
President and CEO Rasool Mohammad said the company expects “ongoing strength throughout 2015” on a rising demand for proppant in North America’s frack sand market.
"Currently, we are also in the process of positioning the company to take advantage of the Tier 1 frack sand demand in the U.S. by advancing an Arkansas, U.S., frack sand project," he added.
La Ronge will change its name to Select Sands Corp. at its Oct. 30 general meeting.
Vancouver, British Columbia-based La Ronge Gold Corp. is a resource growth and development company.
Okotoks, Alberta-based CanFrac Sands Ltd. produces frack sand in the Western Canada Sedimentary Basin.
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