Black Dragon Resource Companies Advances Frac Sand Project Toward Commercial Operations
Black Dragon Resource Companies (BDGR) is progressing toward commercial operations for its frac sand project. The company is evaluating the acquisition of a sand processing plant and has advanced development on its contracted property, which contains an estimated $1.5 billion in resources according to management. An independent engineering report by Lonquist & Co., LLC estimates 50.8 million tons of commercial 40/140 frac sand product and 64.7 million tons of total sand resources at the site. The company plans to relocate a purchased plant to its property after closing on it, which is subject to a 45-day period. Commercial production remains conditional upon completing these transactions. Management also mentioned ongoing efforts in resource acquisitions, share buybacks, and exploring future uplisting opportunities.
Topics: commercial operations frac sand resource acquisition