...The stock, at $21.16 is up a nickel today and 24.47% from the IPO...Well, with the downturn in the overall market and the drilling slowdown finally getting some traction, the stock closed at $13.11 on Monday.
...What the frack?
Sand trades at a premium?
We have four fracking IPO's on our watch list and were going to patiently wait for the 180 days to pass, thinking that, what with the slowdown in gas drilling that we'd get a chance to swoop-n-scoop....
From the Wall Street Journal:
Fracking Spurs Demand for the Stuff, Sparking a Mining Boom—and Vexing Some
![[FRACSAND_1]](http://si.wsj.net/public/resources/images/NA-BQ719_FRACSA_G_20120513174209.jpg)
Stephen Maturen for The Wall Street Journal
Freshly washed sand is sifted
and sorted into piles at a Fairmount Minerals site in Menomonie, Wis.
Next, it will be dried, stored and shipped.
WINONA, Minn.—Scouts armed with geological maps and elevations from Google Earth are knocking on doors in the upper Midwest in search of what seems too common to mine: sand.As far as I knhow, U.S. Silica is still the only publicly traded name in the space
The sedimentary material is in high demand among U.S. oil and natural-gas producers, setting off a sand rush in Wisconsin, Minnesota and other Midwestern states. While adding jobs, the mining boom is prompting pushback from some local residents, who are surprised by the frenzy and leery of its impact on their communities.
Sand mined in the Midwest is used in places such as North Dakota and Pennsylvania to tap oil and gas reserves. The U.S. producers' demand for sand reached 28.7 million tons in 2011, up from six million tons in 2007, according to independent laboratory PropTester Inc. and consultancy Kelrik LLC....MORE
