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#	AUTHOR DATE SUBJECT
19	member 4/23/18 3:30PM Re: HAL on local sand 18
There's a good chunk of truth in those comments but they're always talking their book. Hard. view available tags
17	member 7/24/17 3:48PM Re: Re: More capacity; brown (local TX) sand will do 16
Nothing beyond what's in the filings...looks terrible; what do you think? All WI. High customer concentration. 40x anlzd 1Q17 EBIT, but 30% of rev from unsustainable reservation revenue. Revenues increased 140% y/y while EBIT declined 45%... login to read the rest 1 view available tags
16	member 7/20/17 1:47PM Re: More capacity; brown (local TX) sand will do 15
Not to hijack but any thoughts on SND. Talk about a busted IPO. view available tags
15	member 7/20/17 12:57PM More capacity; brown (local TX) sand will do
"Credit Suisse notes a bifurcation in the world of frac sand as the oil industry in Texas suddenly starts using locally-mined sand for fracking rather than hauling it expensively by train from mines in Wisconsin.... login to read the rest view available tags
14	member 2/25/17 3:22PM Re: Update? 13
Industry capacity is coming back online quickly, even while SLCA is still losing money. SLCA plans to add 1-2M tpa by the end of the year, or 8-16% additional capacity. On Feb 23, HCLP announced... login to read the rest view available tags
12	member 11/04/16 6:22PM 3Q cont
10-Q: I calculate 3Q proppant sales excluding Sandbox, NBR acquisition, and deferred revenue decline at $66.9m, up 3% from the prior quarter. Likewise volumes up 5%, and ASPs down 2% q/q. Still, I would have expected some view available tags
11	member 11/04/16 4:53PM 3Q
The company lost about the same amount of money as the prior quarter, even though overall volumes increased 11% vs the prior quarter. In Oil and Gas, price per ton in 3Q was down slightly q/q... login to read the rest view available tags
10	member 10/19/16 10:47AM Re: Normalized sand prices 9
Well, shoot, I don’t want to come across as in love with my view. I think most of you probably know more about this industry than I do, and I enjoy hearing other’s viewpoints. I’ve... login to read the rest 2 view available tags
8	member 10/16/16 1:48PM Re: FWIW 7
the cost to add brownfield capacity is under $20/ton. the cost to add greenfield capacity is under $60/ton. consensus estimates are assuming $30+/ton in contribution margin in 2018 and capitalizing that at 8-9x ebitda. view available tags
6	member 10/14/16 4:27PM Re: Re: Re: Re: Re: Questions 5
I understand it's more complex. You can make anything more complicated than it needs to be too. I started out looking at this company wondering why there was no free cash flow. My conclusion is... login to read the rest 3 view available tags
4	member 10/14/16 1:38PM Re: Re: Re: Questions 3
Thanks for the comments. Two things. Fixed costs are very small as a proportion of total costs and variable costs are going up per unit as volume ramps. So you are correct there is obviously... login to read the rest view available tags
2	member 10/14/16 12:48PM Re: Questions 1
Thanks for the catch on the market cap. I put in the market cap into VIC at the $24 target price by mistake. The correct market cap using the $48.39 price for the idea is... login to read the rest 1 view available tags

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			2016	2017
Price:	48.39	EPS	-0.79	0
Shares Out. (in M):	65	P/E	nm	0
Market Cap (in $M):	1,552	P/FCF	nm	0
Net Debt (in $M):	100	EBIT	-50	0
TEV (in $M):	1,652	TEV/EBIT	nm	0
Borrow Cost:	General Collateral

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