No bubble here, I try to read everything.If you could be...

No bubble here, I try to read everything.
If you could be bothered to read the last couple of company presentations, and where VRX focus and target markets are, frac sand does not get a mention. It's in the pie charts.
Agreed, frac sand was an option for some of the sand in earlier reports, but you can see VRX have shifted their focus to the higher end glass markets, and Asian large scale foundry work. Our silica sand is of higher grade, particularly Muchea. It would be wasted pumping it down a drill hole, and it has to be the right grain shape and size and withstand high pressure.
Also, the trade war is a Trump/China tit for tat game, and of course it will affect US and Chinese businesses. The trade war could actually work in our favour, as Chinse customers may seek to shop for valuable resources elsewhere.
VRX has a strategic alliance with a Chinese Company in CSG, US silica do not.

The report is from a US Silica's business performance perspective, and clearly is not a report on the state of the global sand economy.
You are comparing two different companies with totally different target customers. If US Silicas profits fall or slow down, it does not mean that everyone else is tarred with the same brush. Maybe they need a more proactive boardroom, or shift their focus from fraccing which is always a contentious industry, or stop arguing with China.

Our biggest hurdle is getting the mining Licenses signed off, without them, we don't have any product.
We have been assured that the granting is a formality from hereon. When that will be is anyone's guess.
From pages 6 and 7 of the latest presentation: