Infrastructure Expansion and Asset Acquisition
The Peace River mine expansion to 1 million tonnes processing capacity is nearing completion, and the Taylor terminal became fully operational during the quarter. Source also acquired sand processing assets at a very attractive price, which will be used for future expansion.
Debt Reduction and Share Repurchases
The company reduced outstanding debt by $11.7 million this quarter and a total of $19.9 million for the year. Additionally, 392,000 shares have been repurchased since May, including 167,500 in Q3, enhancing shareholder value.