American Sands Energy Makes Important Permitting Progress & Hires Investment Bank

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On February 10th, American Sands Energy Corp. (OTC: AMSE) provided an excellent corporate update regarding the engagement of Stifel, Nicolaus & Company as its exclusive investment banker and financial advisor. CEO, William Gibbs commented,

"We are excited to be working with Stifel. AMSE is approaching a pivotal point in our development as we work through the permitting process and move towards building our facility and beginning production. Stifel, with its expertise in the energy industry, is a significant addition to our team and we believe will be a great help in achieving our goals."

I believe the retention of a full service investment bank with a strong reputation in the U.S. is a meaningful de-risking event. For those who don't know Stifel Nicolaus, please consider the following,

"Stifel's Investment Banking practice is principally focused on the middle-market. We have twelve industry-focused investment banking groups together with specialty groups providing coordinated financial sponsors coverage and private placement expertise. Stifel has extensive financial advisory and capital-raising experience, having completed over 3,100 public offerings, 900 M&A transactions and 400 private placements since 2000."

Furthermore, progress towards the completion of permitting appears to be on track. According to CFO, Dan Carlson,

"We received the most recent comment letter from DOGM in early January. We are in the process of responding to the comments and expect to be resubmitting our application by the end of this week [mid February]. Based on the comments, and ongoing conversations with DOGM, the Company believes that we have met all their criteria and hope to finish the permitting process soon."

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Disclosure: I have existing relationship with any company mentioned in this article. 

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