Search Minerals Inc. (SHCMF)

[chico237]

Hey MB… Canada has some awesome projects that need to be built. Search Minerals is running their Demo operations alongside the Canadian Govt. & USARE. Over 70 tons…
F.S. Early 2023…
Both Search & Niocorp are 2025/26 holds. Not getting any younger either lol
Chico

[Middleborder]

Chico; Not sure this should be posted to NIOBF!

https://dailycaller.com/2022/08/23/biden-admin-moves-to-fund-canadian-mines-while-blocking-us-mining-efforts/

snip...

"Following the passage of the Democrats’ massive climate spending package, the Biden administration is looking to import critical minerals such as lithium, cobalt and nickel and may even give money to the Canadian mining industry to acquire such minerals and help push mineral supply chains out of Chinese hands, according to E&E News. Although it is desperate to produce these minerals and confront the Chinese dominance of the mineral market, the administration has blocked major mining projects in Minnesota and Alaska. (RELATED: Environmentalists Are Holding Up A Key Part Of Biden’s Climate Agenda)"

snip....

"Canada may benefit from Biden’s Defense Production Act funding for specific mining activities that support the production of “clean energy” technologies like electric vehicles and solar panels, despite the fact that the act stipulates that funding for defense projects must only come from domestic sources, according to E&E News. However, Canadian businesses are considered to be domestic sources, according to a June White House report.
"
More at link

[Middleborder]

Chico; Thanks! LIACF and CYDVF. (Held shares in ABML at one time. Think you did too...) See previous post. Will consider at later time.

Search Minerals and USA Rare Earths;

https://searchminerals.ca/corporate/partners/

They are still listed as a partner at this link!

[Middleborder]

Doug, I just recall something he posted on the NIOBF board that he was in his 80s. Don't have a link.

[Middleborder]

Doug; AEM-I see the estimated dividend payable on 8/31, $1.60/shr/ 3.6126% I will revisit in a month or so after some bonds mature.

I will admit after developing that Penny stock habit of being able to buy 10s of thousands of shares at once and refocus on dividends and yield! (So.
..DMEHF and LWLG)

--------------------------------------------------------------------------------
Regarding Search and their time horizon, more information here:

https://searchminerals.ca/corporate/overview/

SNIP....."Sales and offtake:

Once processing and separation are complete, the materials are saleable to support the Rare Earth supply chain via our offtake partners. Search’s sites have a strong concentration of high-demand rare earth elements, and with the market continuing to grow rapidly, we are poised to be a key player in this arena.

We have a strategic roadmap that will leverage these four pillars as we move toward production in 2025."

More at link!

--------------------------------------------------------------------------------
And if Search is able to follow through they will probably be mining and in production before some other stock we both own! (I would be interested to know if they still have a relationship with USARareEarth who will be starting up their REE Magnet plant in Oklahoma!)

[douginil]

Hmmmm I seemed to have missed walterc's comment. I there a link?

[chico237]

MB- I have done very well with **American Lithium & believe it is still undervalued under 3$ & will be up listing to NYSE soon. Cypress is another Lithium stock both are poised to move into F.S./ take advantage of recent U.S. govt. action & worth your DD. These should do very well in 2025/26 along with Niocorp.


Chico

[Middleborder]

Doug. Thanks! I think that at this strange time in US History it does not hurt to have gold or shares in a gold producer.

[Middleborder]

Doug; And of course Walter C! I will have a look!

[douginil]

Hi MB I am way ahead of you agewise. Check out Agnico-Eagle, they are a major producer of gold, pay a dividend and recently acquired Kirkland Lake Gold a mid-tier produce & explorer.

[Middleborder]

Chico! As always thanks! Re: "Those are solid numbers... a little higher on the Capex than I expected but they are not done costing everything out. They expect to complete the F.S. in 2023 I would guess 2026 for production."

I am about 40 years out of estimating (Furniture/Casework manufacture.) but better to be high on those numbers and be able to report to shareholders and bankers that you spent less than expected than to come back later and say that you need more to complete a project. Given that this is a multiyear projection I hope their figures anticipate inflation!

While mostly in bonds, I realized that just about all my stocks needed 3 to 4 years to production. I am about to hit 70 and need something with a closer payback horizon. I liked ENDMF but sold it and purchased some DMEHF (Helium/Hydrogen/Noble Gasses). No debt owns its own rigs and should be should be producing this year . I am going to keep holding Search (for the benefit of my heirs!) but might reduce my holdings a bit to look for more current return. No change to my NioCorp holdings but along with the posters to the board am waiting impatiently for financing and Scot's blueprint trailer on site!

[chico237]

Hey MB... Those are solid numbers... a little higher on the Capex than I expected but they are not done costing everything out. They expect to complete the F.S. in 2023 I would guess 2026 for production.
They need
a) Enviromental work completed & approval
b) Major Permits
c) Complete NOW ongoing DEMO-Plant to prove out final separation to scale (should be getting news here by years end.)
https://searchminerals.ca/site/assets/files/6131/2022-05-24-smy-nr.pdf

We have completed two pilot plant operations and produced highly purified mixed rare earth carbonate concentrate and mixed REO concentrate for separation and refining. We also recognize the continued support by the Government of Newfoundland and Labrador for its Junior Exploration Program.

d) F.S. after Demo plant runs. (They will need a partner. USARE & the Canadian govt. are already playing major roles here? T.B.D.)
e) Finance (Like Niocorp my DD... suggests the Canadian govt. will offer a loan guarantee for debt. USARE may is already a partner... should be interesting moving forward.
https://searchminerals.ca/site/assets/files/6149/20220722_-_smy_news_release_-filing_of_pea_final.pdf

Search Minerals was selected to participate in the Government of Canada Accelerated Growth Service (“AGS”) initiative, which supports high growth companies. AGS, as a ‘one-stop shop’ model, provides Search with coordinated access to Government of Canada resources as Search continues to move quickly to production and contribute to the establishment of a stable and secure rare earth element North American and European supply chain.

f) This is only PART OF A LARGE REE DISTRICT & Generational mine project!

Led by a proven management team and board of directors, Search is focused on finding and developing Critical Rare Earths Elements (CREE), Zirconium (Zr) and Hafnium (Hf) resources within the emerging Port Hope Simpson – St. Lewis CREE District of southeast Labrador. The Company controls a belt 63 km long and 2 km wide and is road accessible, on tidewater, and located within 3 local communities. Search has completed a preliminary economic assessment report for FOXTROT, and a resource estimate for DEEP FOX. Search is also working on three exploration prospects along the belt which include: FOX MEADOW, SILVER FOX and AWESOME FOX

Form your own opinions & conclusions:
Imho: One of the most advanced pure Canadian REE projects. MB feel free to add to the SEARCH MINERALS to do list! lol


Chico

[chico237]

8/4/2022 SEARCH MINERALS- video: Explore Rare Earth Elements - A Unique Investment Opportunity

Holding shares on one of the most advanced Canadian REE projects with a PROVEN 2022 PEA (2-year payback). A very Experienced Team (Separation!) Moving towards completing DEMO Plant testing on PROVING OUT FINAL SEPARATION METHODS. (PRODUCTION 2025/26! like a few other highly de-risked projects!!)
The Canadian Govt. & USA RARE EARTHS are working hand in hand. Search will be working towards a F.S. in 2023 & will need a partner soon. (USARE??)
Keep an eye out for USARE as a potential partner as they will need "Diversity of supply" for this:
USARE/Stitt announces $100M project to bring rare earth metal and manufacturing facility to Oklahoma
https://www.koco.com/article/oklahoma-kevin-stitt-investment-company/40239994#

imho/speculation: this is a 10x 2023/24 (Market cap under $50M this is undervalued here!)
Chico

[Middleborder]

https://searchminerals.ca/ Website content has been updated:

Link to image that summarizes Search Minerals' upcoming development activities during the sprint to production 2022 to 2025

https://searchminerals.ca/investors/development-activities/


Search Minerals –

Preliminary Economic Assessment – June 7, 2022
Before Tax
NPV (8%) $2.23 Billion
IRR 55.3%
Capital Payback 1.5 years
After Tax
NPV (8%) $1.31 Billion
IRR 41.5%
Capital Payback 1.8 years

[Middleborder]

Information regarding Search Minerals from:

Search Minerals from:

Search Minerals’ focus is on exploration and development of the Critical Rare Earth Element District in Southeastern Labrador, Canada. This District is road accessible, on tidewater and contains significant quantities of those elements that are in short supply and considered strategic or critical due to their use in green economy technologies. Based on these attributes, the Company hopes to become a competitive, low-cost, environmentally responsible supplier of Critical Rare Earth Elements (CREE) to the global marketplace.

To accomplish this Search will leverage its scalable breakthrough Patented Direct Extraction Metallurgical Process and its highly accessible district-scale resources in SE Labrador to attract two important strategic partners; an investor to finance the bankable feasibility study for development of its FOXTROT and DEEP FOX deposit and an off-take partner whose long-term commitments will provide the stable income necessary to to access capital financing for projects of this size.

Search believes that success in securing strategic partners is linked to completing pilot testing of its patented proprietary Direct Extraction Metallurgical Process. The Pilot Plant optimization program using the patented Search Direct Extraction Process has been successfully completed in March 2020. The program produced both a 58% REO mixed rare earth carbonate concentrate and a 99% pure mixed REO concentrate, which will provide Search with more options to refine our products into the individual oxides. The production of the carbonate and/or the mixed oxide concentrate samples can be obtained, from either the Foxtrot or Deep Fox material. Search will continue to work with separation companies, refineries and potential off-take partners for further processing to high value separated rare earth oxides.

Search is currently doing metallurgy testing on Silver Fox material for Zirconium and Hafnium. Silver Fox contains Zr (Hf) values much higher than any other CREE resource (Foxtrot and Deep Fox) or mineralized zone (Fox Meadow and Awesome Fox) in SE Labrador.

[douginil]

Thanks for the hat tip MB

[Middleborder]

VANCOUVER, British Columbia, July 22, 2022 (GLOBE NEWSWIRE) -- Search Minerals Inc. (TSXV: SMY | OTCQB: SHCMF) (“Search” or the “Company”) is pleased to announce that the Preliminary Economic Assessment (“PEA”) NI 43-101 Technical Report on the Deep Fox and Foxtrot Project (the "Technical Report") has been filed on SEDAR. The Technical Report, which is dated July 18, 2022, has an effective date of May 31, 2022 and is entitled "Technical Report on the Deep Fox and Foxtrot Project, Newfoundland and Labrador, Canada Report for NI 43-101".

The results of the Technical Report were previously disclosed in summary form in the Company's news release dated June 7th, 2022, “Search Minerals Announces Positive Preliminary Economic Assessment For The Deep Fox And Foxtrot Rare Earth Element Project With $2.23 Billion NPV(8).”

Greg Andrews, President and CEO, states: “The release of this PEA is a milestone for Search Minerals, as it is the foundation for the next steps in our Sprint to Production. The information presented is based on our evolving understanding of the deposit, processing technology, project scope and schedule. The REE markets and demand forecast for the critical minerals, which are the primary product of the Deep Fox and Foxtrot project, remains favorable for our goal to build a secure and sustainable rare earth supply chain in Newfoundland and Labrador for Canada and our allied trading partners. We continue to advance our exploration, resource delineation and pre-feasibility work and are moving towards project development in a responsible and systematic manner.”

The Technical Report is available at www.sedar.com and our corporate website at www.searchminerals.ca

[Middleborder]

R & H: Hello, thanks for posting!

I'm just about west of you over in JOCO KS. I know of at least one other KC resident who sometimes posts to the NIOBF board. (Happy it rained last night....we were really drying out! Enjoyed the new younger look of the Royals!)

I think Chico237 and Douginil do some of the best analysis on this board. I certainly pay attention to them.

[Research&Hope]

Well hello fellow Kansas Citian! I'm out at Blue Springs for the last 45 years.

[douginil]

I hear you. Spent many a Jan & Feb morning at 6am at Oak & Michigan waiting for the 151 with the same temp 7 wind conditions. Of course then I was thinking of July at Oak st Beach and the great scenery.

[Middleborder]

Doug; I worked Downtown for 12 years. (Monroe/Lasalle Street) Nothing more fun than standing on an L Platform at 20 below zero F with a North wind off Lake Michigan!

Yesterday here in Kansas City it was 101F. Oh Well.

[douginil]

Thanks for posting this.

Ahh yes these are the summer days in Chicago that we yearn for in Jan & Fed.

[chico237]

Hey MB! Search & the Canadian Govt. Are quietly running through that 70 tons of magnetically separated ore through their “proprietary” direct separation process at to scale up for a F.S. early 2023.
I’m not buying here just holding what I have but if this hits .4/ again …:)!!
Hope you are enjoying your summer as well!
Regards
Chico

[Middleborder]

Chico, Douginil; Search Minerals Reports Proceeds from Exercise of Warrants


BY MT Newswires
— 1:16 PM ET 07/20/2022

01:16 PM EDT, 07/20/2022 (MT Newswires) -- Search Minerals Inc. (SHCMF) said Wednesday that it has received proceeds of about $1.1 million from the exercise of about 15.4 million issued common share purchase warrants at an exercise price of $0.07 per warrant.

Each warrant was exercisable into one common share until July 12, and 654,669 unexercised Warrants have now expired.

The company plans to use the proceeds for general working capital purposes.

The company's shares remained unchanged on last look on Wednesday.

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

I hope you guys are both having a great summer! Looking for more info on NioCorp and Searchminerals. Both have been fairly quiet lately but hoping for more news soon! I check for news every few days but have not seen much. The expired warrents are a positive as is the additional cash!

[Middleborder]

Douginil; Video from Real Engineering regarding Lunar Dust as a limiting factor for future Lunar missions.

On the YouTube screens, there's one of those icons (looks like horizontal bars stacked up I think) and there are two options in there, one of which is generate transcript. Found it not long ago, weird that it's not right out there.

If that does not work then try this for an in thread summary:

https://freerepublic.com/focus/chat/4079460/posts?page=2
------------------------------------------------------------------------------------------------------

Not a lot of news regarding Searchminerals. Last news on their site was June 7th.


News Releases


http://www.searchminerals.ca/news/news-releases/search-minerals-announces-positive-preliminary-economic-assessment-for-the-deep-fox-and-foxtrot-rare-earth-element-project-with-cad2-23-billion-npv-8

[douginil]

China may be a good Bond villain, but rare earths experts are skeptical it’s behind smear campaign

June 30, 2022

In this video, InvestorIntel panelists rare earths experts Jack Lifton, Tracy Weslosky and Christopher Ecclestone express their skepticism at a report released yesterday that alleges a co-ordinated social media campaign out of China targeted the Australian rare earths mining company, Lynas Rare Earths Ltd. (ASX: LYC), with tweets and Facebook posts criticizing its alleged environmental record and calling for protests of its planned rare earths processing facility in Texas.

While the story has been picked up by mainstream and industry media, a deeper dive makes it look increasingly unlikely that this “campaign” was, as claimed, part of a Chinese effort to undermine foreign attempts to develop a rare earths processing capability outside of China and maintain China’s current dominance. While China makes a good James Bond villain in western politics and the popular press, a look at the evidence doesn’t necessarily point in their direction as the main movers in this case. For people familiar with online campaigns, this one attributed to China’s influence campaign known as DRAGONBRIDGE seems particularly weak and unfocused. The campaign and its associated hashtags never trended on Twitter, which is unfortunately all too easy to do with modern botfarms and technology.

For the video link go to:
https://investorintel.com/markets/technology-metals/technology-metals-intel/china-may-be-a-good-bond-villain-but-rare-earths-experts-are-skeptical-its-behind-smear-campaign/?utm_source=rss&utm_medium=rss&utm_campaign=china-may-be-a-good-bond-villain-but-rare-earths-experts-are-skeptical-its-behind-smear-campaign

[Middleborder]

Investment Highlights:

District Opportunity - Search controls a 63 km X 2 km District with a stand alone mineral resource, two other discoveries and 20 additional prospects. Preliminary Economic Assessment - on the FOXTROT Resource - After-tax payback in 4.4 years.

Solid Returns - Discounted at 10 per cent per annum, the 14 year LOM FOXTROT Project offers an IRR of 16.7% on an After Tax NPV of $48m. Low CAPEX Burden - At $152million, initial CAPEX costs are very low.

Low OPEX - Road accessible, on tidewater and a breakthrough hydrometallurgical process provides opportunity to be a low-cost producer. Scalable Project – initial production of 1,000 tpd.

Critical REEs - Economically significant percentages of dysprosium, neodymium, praseodymium, terbium and lanthanum.

Environmental Advantage - Dry stackable waste residue is more environmentally friendly.

Exploration Upside - Two new discoveries requiring drill programs and numerous other properties requiring further work. Mining Friendly Jurisdiction - Newfoundland and Labrador ranked #16 out of 104 jurisdictions reviewed by the Fraser Institute.

Great Relationships - Supportive aboriginal and local communities. Experience - An energized Management Team and Board of Directors.

[Middleborder]

Chico, thanks! Picked up some more shares at $0.12 US. Now comes the waiting patiently part! (Not too long I hope!)

[chico237]

Wonderful find MB & PM! Search is already working closely with the Canadian government & USA Rare Earths.

C$1.5B to invest in new critical minerals projects, with priorities for mineral processing, materials manufacturing, and recycling for key mineral and metal products in the battery and rare-earths supply chains

Search may be looking for a partner (USARE already owns shares) moving into a feasibility study & for project finance. As I have stated before USA Rare Earths will need "SEVERAL" suppliers of REE's as the Round Top project cannot alone supply what USARE needs as it moves to start it's mine to magnet strategy into 2023/2024
GIVEN-
West Texas Rare Earth Mine Operator Announces First Fully Integrated U.S.-based Rare Earth Metal and Magnet Facility
https://elpasoheraldpost.com/west-texas-rare-earth-mine-operator-announces-first-fully-integrated-u-s-based-rare-earth-metal-and-magnet-facility/
Also note:
MP Materials has partnered with GM to establish another REE to Magnet Facility.
MB you also bring up a very good point as well-

Search is receiving funds from Newfoundland and Labrador, I do not know if CA funding will be provided to them and what strings would be attached. (This would probably explain SHCMF decision siting of processing facilities in Newfoundland.)

(Bro- Search has a wonderful Resource that can grow 3X into a REE District. They have the backing of the local peoples & wonderful Team ;& almost completely "Proven Process at Scale!") Long term hold for me IMHO...
Worth watching for sure! & folks can pick their own strategies...
Chico

[chico237]

Greg Andrews of Search Minerals talks about their newly released rare earths project PEA

SEARCH TO PRODUCE ABOUT 1,400 TONNES OF MAGNETIC GRADE OXIDES!
SEVERAL OF THESE PROJECTS WILL BE NEEDED FOR THE U.S., CANADA & ALLIES...
Search is looking to start production in 2025 & is now engaging in environmental work moving forward. USA RARE EARTHS will need these OXIDES TO SUPPLEMENT THE ROUND TOP PROJECT moving forward.
Given:
USA Rare Earth coming to Stillwater
https://www.msn.com/en-us/news/us/usa-rare-earth-coming-to-stillwater/ar-AAYeUVB?ocid=uxbndlbing

Yep holding... & consider adding on weakness...
All IMHO & all
Chico

[Middleborder]

Article: "The Canadian government has revealed it will provide C$3.8B of financial support for critical minerals in its 2022 budget."

(Hat Tip; Link from Putz Mueler on the NIOBF board)

https://www.theassay.com/articles/analysis/musk-leads-race-to-tie-up-critical-minerals/

Snip....

Canada moves quickly and hard
"The Canadian government has revealed it will provide C$3.8B of financial support for critical minerals in its 2022 budget.

The funds are being allocated to accelerate domestic production and processing of critical minerals, particularly lithium, cobalt and nickel to be used in the manufacture of LIBs, portable electronics, and stationary storage cells to make electricity use more efficient.

The 2022 budget critical mineral support highlights include:

C$1.5B to invest in new critical minerals projects, with priorities for mineral processing, materials manufacturing, and recycling for key mineral and metal products in the battery and rare-earths supply chains
C$80M for public geoscience and exploration programmes to help find the next generation of critical minerals deposits
Doubling of the Mineral Exploration Tax Credit (“METC”) for targeted critical minerals, including nickel, copper, cobalt, rare earths, and uranium
C$1.5B for infrastructure investments to unlock new mineral projects in key regions
C$144M for research and development to support responsible extraction and processing of critical minerals
C$10M renewal for the Centre of Excellence on Critical Minerals for three additional years
C$40M to support northern regulatory processes to review and permit critical minerals projects
C$70M for global partnerships to promote Canadian mining leadership
C$15B to support the Canada Growth Fund to restructure supply chains in areas important to Canada’s future prosperity, including the natural resources sector
The budget announcement has been widely welcomed by industry and Canadian critical minerals developers." snip...


Search is receiving funds from Newfoundland and Labrador, I do not know if CA funding will be provided to them and what strings would be attached. (This would probably explain SHCMF decision siting of processing facilities in Newfoundland.)

http://searchminerals.ca/news/news-releases/search-minerals-acknowledges-junior-exploration-assistance-from-government-of-newfoundland-and-labrador-2022

[Middleborder]

Chico, Buddy, thanks for posting and for your anlysis ! Made your post 309 a sticky!

"The pre-tax capital payback is 1.5 years and after-tax capital payback is 1.8 years from start of production.
Initial capital costs: $422M (includes $61M contingency)"

I am hoping these figures appealing enough to get this off the ground late this or next year! (Although we know about the reality of managment timetables!)

Re-posting this link from GE11 on the NIOBF board. Given that USA Rareearths purchased a magnet factory from Hitachi in N.C. I am a bit surprised to see this factory opening in Oklahoma. (IIRC they will be processing their rare earths in Colorado so maybe that is the reason.) I have not seen any further mention of USA Rare Earths going public.

USARareEarth Stillwell Oklahoma Factory


I will be in and out this summer but I will continue to watch SearchMinerals, NIOBF and DMEHF and seeing if I can purchase a few more shares today.

[chico237]

SEARCH NEW PEA= 2.23 BILLION NPV!
earch Minerals Announces Positive Preliminary Economic Assessment for the Deep Fox and Foxtrot Rare Earth Element Project With $2.23 Billion NPV
https://www.globenewswire.com/news-release/2022/06/07/2457347/0/en/Search-Minerals-Announces-Positive-Preliminary-Economic-Assessment-for-the-Deep-Fox-and-Foxtrot-Rare-Earth-Element-Project-With-2-23-Billion-NPV-8.html
Net Present Value – NPV(8) of $2.23 B (pre-tax) and NPV(8) of $1.31 B (after-tax)
Internal Rate of Return (IRR) – 55.3% (pre-tax) and 41.5% (after-tax)
Capital Payback Period – 1.5 Years (pre-tax) and 1.8 Years (after-tax)
Initial Capital Costs - $ 422M
Approx. Annual production- 1437t - Magnet Rare Earths Oxides (Nd+Pr:1291t Dy:125t Tb:21t)
VANCOUVER, British Columbia, June 07, 2022 (GLOBE NEWSWIRE) -- Search Minerals Inc. (TSXV: SMY | OTCQB: SHCMF) (“Search” or the “Company”), is pleased to announce the results of its Preliminary Economic Assessment (“PEA”) for the development of its Deep Fox and Foxtrot Rare Earth Element (REE) deposits located in Labrador, Canada and the establishment of a Direct Extraction Hydrometallurgical processing facility on the Island of Newfoundland. The PEA was prepared by SLR Consulting (Canada) Inc. The technical report relating to the PEA will be filed on SEDAR within 45 days of this news release.

Key Financial Metrics (Unless otherwise indicated all values expressed in CDN$, Exchange rate CDN$1 = US$0.80):

The project net present value (NPV) of $2.23B (before-tax) and NPV of $1.31B (after-tax), at a 8% discount rate.
The pre-tax internal rate of return (IRR) is 55.3%, and the after-tax IRR is 41.5%.
The pre-tax capital payback is 1.5 years and after-tax capital payback is 1.8 years from start of production.
Initial capital costs: $422M (includes $61M contingency)
Life of Mine: 26 years. Annual mining production: 720,000t (at 2000tpd)
Net value: $756/t (net of process recoveries and payability terms)
Operating cost: $345/t (including third party separation charges)
The price for Magnet Rare Earth Oxides used: Neodymium oxide- USD$212/kg, Praseodymium oxide USD$201/kg, Dysprosium oxide USD$587/kg and Terbium oxide USD$2,493/kg.

HUGE IMHO! @$300MILLION revenue/year (prior to costs etc..) ! (Looks like Capex went for the whole ask! Adding Open Pit & Below Ground mining all in on $422Million Capex!) gotta read more & soak in!
Happily holding shares
Chico

[chico237]

Thanks MB! PEA around June 07, 2022. As previously outlined, the key variables addressed in this PEA include:

Increase production rate from both Deep Fox and Foxtrot
Higher grades of our key permanent magnet elements (Neodymium (Nd), Praseodymium (Pr), Dysprosium (Dy)) in Deep Fox deposit
Primary Processing using grinding and magnetic separation to produce rare earth concentrate for our proprietary Direct Extraction Process (“DX”)
Increased recoveries from our DX processing applied to Foxtrot mineralization
Significant increase in REE prices.

MB - (I really like Search's proprietary method for their ore! The Ore goes through Magnetic Separation to concentrate the minerals then through their proprietary Direct Extraction (DX) & then onto SX for the individual oxides. SEARCH HAS THE POTENTIAL FOR @ 1,500 TONS of RARE EARTH OXIDES PRODUCTION/YEAR! Niocorp (U.S.) & Search (Canadian) are my top REE picks. I'm excited & holding long term here. Both have Experienced TEAMS & that means alot!)

Phase 1 - 70t of bulk sample using grinding/magnetic separation.

We are nearing completion of the testing of our 70t bulk sample from Deep Fox and Foxtrot at SGS Canada, through our new grinding and magnetic flowsheet (see February 16, 2022 - Search Minerals magnetic separation of bulk samples commences at SGS Canada). Phase 2 will process approximately 20t of the prepared concentrate through the proprietary direct extraction flowsheet. The Company will be submitting a Letter of Intent as outlined in a Call for Proposal from the Federal Government for demonstration plants from advanced critical minerals projects in Canada.

Search is working hand in hand with the Canadian govt. & USA Rare Earths is privy to info & has a stake already! Both Search & Niocorp will produce RARE EARTH OXIDES ~ NOT Basket products!!!!~


IMHO:
I can't wait to see the PEA numbers & CAPEX.... I'm not expecting much over $150 Million needed for he "Open Pit resources". A bit more when they go underground yes!, but they can start easily enough IMHO. I also like the fact they have the community support & are pursuing environmental avenues now.

Chico

[Middleborder]

BRIEF-Search Minerals Commencing Deep Fox 14000M Drill Program And Provides Corporate Update

https://www.globenewswire.com/news-release/2022/05/31/2453735/0/en/Search-Minerals-Commencing-Deep-Fox-14000m-Drill-Program-and-Provides-Corporate-Update.html
* SEARCH MINERALS COMMENCING DEEP FOX 14000M DRILL PROGRAM AND PROVIDES CORPORATE UPDATE Source text for Eikon: Further company coverage:

VANCOUVER, British Columbia, May 31, 2022 (GLOBE NEWSWIRE) -- Search Minerals Inc. (TSXV: SMY | OTCQB: SHCMF) (“Search” or the “Company”), is pleased to provide the following update related to our planned 2022 activities.

Search has also mobilized the exploration team on site consisting of 11 geologists and 12 support staff to carry out the 2022 field program. This team led by Dr. Randy Miller, will oversee the execution of the program that will include drilling, channelling, field mapping and magnetometer surveying.

Search has completed the purchase of additional property in the community of St. Lewis. This property will be the location of a 12-person camp that will be used to support the 2022 exploration program. Permission to operate this facility has been received from the St Lewis Town Council and will be ready for occupancy on or about June 7th.

Additional environmental baseline data collection programs, including water sampling, have been designed for this season. These programs will support the initiation of the approvals process for the proposed mine and concentrator.

The Company has also started construction of an additional 40’ x 40’ sample storage facility to enable the secure storage of drilling and exploration samples. This storage facility is located next to Fox Harbour House, the Company’s field house, office and core facility in St. Lewis. This new infrastructure is part of the overall development planning and will accommodate the rapid growth of Search’s exploration and development activities.

Search has initiated its community engagement program and will be holding community information sessions in Port Hope Simpson, St. Lewis and Mary’s Harbour, in early June. Search continues to work with stakeholders and the NunatuKavut Community Council department of Environment and Natural Resources to seek opportunities to collaborate on environmental baseline data collection and regional studies.

Preliminary Economic Assessment Report

The Preliminary Economic Assessment Report (“PEA”), which combines both Deep Fox and Foxtrot resource estimates, announced on April 11, 2022 is in the final stage of technical review. A news release highlighting key findings is expected on or around June 07, 2022. As previously outlined, the key variables addressed in this PEA include:

Increase production rate from both Deep Fox and Foxtrot
Higher grades of our key permanent magnet elements (Neodymium (Nd), Praseodymium (Pr), Dysprosium (Dy)) in Deep Fox deposit
Primary Processing using grinding and magnetic separation to produce rare earth concentrate for our proprietary Direct Extraction Process (“DX”)
Increased recoveries from our DX processing applied to Foxtrot mineralization
Significant increase in REE prices.

Phase 1 - 70t of bulk sample using grinding/magnetic separation.

We are nearing completion of the testing of our 70t bulk sample from Deep Fox and Foxtrot at SGS Canada, through our new grinding and magnetic flowsheet (see February 16, 2022 - Search Minerals magnetic separation of bulk samples commences at SGS Canada). Phase 2 will process approximately 20t of the prepared concentrate through the proprietary direct extraction flowsheet. The Company will be submitting a Letter of Intent as outlined in a Call for Proposal from the Federal Government for demonstration plants from advanced critical minerals projects in Canada.

Fox Meadow 6000m drill program in Fall 2022.

The Company anticipates commencing a 6000m drill program on our highly prospective Fox Meadow Project. Mapping, prospecting, trenching, channeling, and geophysical surveys confirm the current known extent of two mineralized zones at FOX MEADOW: the NW zone is up to 175m wide, and the SE zone is up to 154m wide. Combined, known mineralization is at least 790m long, and is open to the NW and SE. The drill program will test for mineralization at depth below the current known strike length. This drill program will commence after the Deep Fox program and will require additional funding.

AGM Results

All matters were approved at the Company’s Annual General shareholders meeting (the “Meeting”) held on May 25, 2022. At the Meeting the Company’s shareholders re-elected all of the Company’s current board of directors, Greg Andrews, David Dreisinger, Leo Power, Jocelyn Bennett and George Molyviatis as well as approved the re-appointment of the Company’s current auditor, Mao & Ying LLP. The Company’s shareholders also approved the adoption of a new 10% rolling stock option plan in accordance with the requirements of the TSX Venture Exchange.

------------------------------------

I will be out of town for the next week so will not be updating this thread!

GLTA

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Chico; Yesterday: Search Minerals Acknowledges Junior Exploration Assistance from Government of Newfoundland and Labrador
May 24th, 2022

VANCOUVER, May 24, 2022 - Search Minerals Inc. (TSXV: SMY | OTCQB: SHCMF) (“Search” or the “Company”) is pleased to acknowledge receipt of a grant of $90,000 from the Province of Newfoundland and Labrador towards exploration work completed in 2021 on the Company’s Critical Rare Earth Element (CREE) claims located near the communities of St. Lewis and Port Hope Simpson in Southeastern Labrador.

Greg Andrews, President and CEO of Search Minerals states, “Search is very appreciative of the Junior Exploration Assistance Program (“JEA”) funds granted by the Province of Newfoundland and Labrador Department of Natural Resources. These funds allowed us to hire local personnel and continue to explore and advance the delineation of resources in Labrador’s Critical Rare Earth Element District (the “District”) in 2021. The Company controls a belt 63 km long and 2 km wide and there are still 20 showings within this belt to be assessed and maintained.”

Andrews added: “The results from the 2021 exploration program has allowed Search to significantly increase our resource base and will form part of the updated Preliminary Economic Assessment report which will be released in Q2, 2022. We are in the process of mobilizing for our upcoming 2022 drill and exploration program, which will include approximately 14000m of drilling at Deep Fox to commence in June. The drill program is fully funded with our recent flow-through funding completed in December 2021. We will also continue our exploration work along the District at Silver Fox and Fox Meadow prospects. Fox Meadow is “Drill Ready” and we look forward to commencing a 6000m drill program in the Fall 2022.”

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Chico; Thanks! Indeed, a happy coincidence! Lets hope that Canada and Labrador will have a sense of urgency about getting Search Minerals up and running!

Open pit mining should reduce the lead time to getting Search underway! Lets hope that the news on NioCorp will create a sense of urgency in Ottawa and the provincial authorities to get this underway!

[chico237]

Hey MB! Search will be having its annual meeting the same day Niocorp is having a presentation (May 25th) "coincidence much"??- Two of my favorite REE/Critical Mineral plays that are getting ever closer to Finance & production.

With the PEA soon to drop combining both Foxtrot & Deep Fox resources I am expecting a very good valuation & low Capex under 150$M to start.

Search is "Tweaking" their PROVEN patented Separation process (which occurs prior to SX as well!) PLUS- they are sitting on a much larger resource DISTRICT.

Expecting Enviromental aspects to be top priority now, Update on Separation & Pilot plant as well as PEA results. I'm excited for the Canadians on this project!

With the minerals they have I'm estimating a $250M U.S. NPV or greater on the early PEA/ IMHO per year. Holding long term into 2023

All IMHO & All
Chico

[chico237]

Search Minerals Announces Additional Channel Assay Results Expanding FOX MEADOW Rare Earth Element Project in SE Labrador
https://www.globenewswire.com/news-release/2022/05/05/2437448/0/en/Search-Minerals-Announces-Additional-Channel-Assay-Results-Expanding-FOX-MEADOW-Rare-Earth-Element-Project-in-SE-Labrador.html

HIGHLIGHTS – FOX MEADOW 2021 CHANNEL PROGRAM

Channel assay highlights (all true widths):
FMC-21-02B (SE zone): 30,190 ppm Zr; 272 ppm Dy; 1,592 ppm Nd; 702 ppm Hf, over 4.20m;
FMC-21-02B (SE zone): 14,410 ppm Zr; 195 ppm Dy; 1,051 ppm Nd; 322 ppm Hf over 25.85m; and
FMC-21-03 (SE zone): 10,704 ppm Zr; 213 ppm Dy; 1,212 ppm Nd; 246 ppm Hf over 6.71m.
Channel programs, prospecting and magnetic anomalies indicate that the NW mineralized zone is at least 175m wide and 425m long, and the SE mineralized zone is at least 154m wide and 365m long; 790m combined length;
The mineralization is open to the NW and SE; another channel program is planned for 2022 to trace the surface mineralization to the NW and SE;
A 6000m drill program is planned for fall 2022 to test for mineralization at depth;
The 2021 exploration program was carried out with no positive Covid-19 cases.
Greg Andrews, President/CEO states; “We are very excited about the potential of the Fox Meadow project. By comparison, Fox Meadow’s surficial extent is much wider and longer than that of either Deep Fox or Foxtrot. The Fox Meadow project could prove to be very significant for our development of a safe and secure generational source of rare earth elements for the North American rare earth element supply chain.”

Andrews added; “The Fox Meadow Project is “drill ready” - we plan a 6000m drill program that has been permitted and is expected to commence late 2022. The recent Federal Budget proposes up to $3.8 billion in support over eight years to implement Canada’s first Critical Minerals Strategy. The Fox Meadow Project funding could benefit from the new 30% Critical Mineral Exploration Tax Credit which was introduced. We look forward to learning more details as our goals align nicely with the Federal government’s Critical Minerals Strategy.”

FOX MEADOW adds to the REE DISTRICT! The entire RESOURCE IS MUCH LARGER!
Looking forward to the Annual meeting & expect PEA to drop soon! Thanks for posting link MB! ya beat me to it lol!

Holding into 2023 as I believe Search will become the first Canadian owned REE resource...

All IMHO & Do your own DD
Chico

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Link to announcement of the May 25 Annual Meeting:

http://www.searchminerals.ca/assets/2022-Search_-_Notice_of_Meeting.pdf

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Chico; Lets hope this falls under "any other business that the board might consider!"

[chico237]

Annual Meeting -MAY 25th- PEA announcement???? Should be soon!

Chico

[chico237]

The PEA for SEARCH should be announced by months end! About 45 days after the NI-43-101 report was filed. I'm looking forward to that combined PEA & the economics it will reveal for the project.
Chico

[chico237]

LOL! you guys beat me too it! =) Thanks Doug & MB ROFL!
Bring on the PEA!!!!
Awesome like a FOX lol!

Chico

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Doug, Thanks! I will take a look at the Youtube later!

I found this interesting:

"About Search Minerals Inc.

"snip....Led by a proven management team and board of directors, Search is focused on finding and developing Critical Rare Earths Elements (CREE), Zirconium (Zr) and Hafnium (Hf) resources within the emerging Port Hope Simpson – St. Lewis CREE District of South East Labrador. The Company controls a belt 63 km long and 2 km wide and is road accessible, on tidewater, and located within 3 local communities."

They appear to be setting themselves apart from other REE projects by emphasizing ZR and HF.

[douginil]

Greg Andrews of Search Minerals on the positive impact of their updated resource estimate on its coming PEA


May 2, 2022

In this InvestorIntel interview with host Tracy Weslosky, Search Minerals Inc.’s (TSXV: SMY | OTCQB: SHCMF) President, CEO, and Director, Greg Andrews, discusses the positive impact on its upcoming PEA of the recently increased mineral resource estimates for Search Minerals’ Deep Fox and Foxtrot Critical Rare Earth Element properties in South-East Labrador.

In the interview, which can also be viewed in full on the InvestorIntel YouTube channel (click here), Greg Andrews tells InvestorIntel that its updated resource estimates will form the basis of Search’s upcoming Preliminary Economic Assessment (PEA). He goes on to explain how the PEA will take into account the significance of both the Deep Fox and Foxtrot properties. With Search Minerals positioned to become a reliable source of rare earths in North America, Greg also comments on how the 2022 Canadian Federal Budget is likely “to spur investment into all critical minerals, and the rare earths in particular.”

Watch at:
https://investorintel.com/investorintel-video/greg-andrews-of-search-minerals-on-the-positive-impact-of-their-updated-resource-estimate-on-its-coming-pea/?utm_source=rss&utm_medium=rss&utm_campaign=greg-andrews-of-search-minerals-on-the-positive-impact-of-their-updated-resource-estimate-on-its-coming-pea

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Chico! All this waiting! Here is a discussion thread regarding USA Rare Earths possibility of a SPAC

https://www.reddit.com/r/SPACs/comments/lbbcjp/reuters_usa_rare_earth_hires_goldman_bmo_to/


I was looking at it and realized that pretty much every stock I have is Canadian with an OTC listing and most of them are pending production! I finally purchased some shares in DMEHF so I have something that is at least starting up production for a change!

[chico237]

Great find MB! Search is still flying under the radar. My cost average is .12/ I think the PEA should garner a higher share price .21 to .32 range. Holding long term into 2023 here easily as I have stated before. Search imho will be Canada’s first 100% owned REE mine & supplier!

Chico

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Chico; While we wait! From Jul. 19, 2021 01:55PM PST

Top Canadian Rare Earth Stocks

"1. Search Minerals (TSXV:SMY)

Year-to-date gain: 130.7 percent; current share price: C$0.15 (FROM JUL 2021!)

Search Minerals controls a 63 kilometer long and 2 kilometer wide belt in the emerging Port Hope Simpson – St. Lewis critical REE district in Southeastern Labrador.

Search Minerals has completed a preliminary economic assessment (PEA) for the Foxtrot deposit, as well as a resource estimate for the Deep Fox deposit. In September the company commissioned a combined PEA for both the Deep Fox and Foxtrot projects. Search is also working on three exploration prospects along the belt: Fox Meadow, Silver Fox and Awesome Fox.

Earlier in the year, Search was selected to participate in Canada’s Accelerated Growth Service initiative, which includes coordinated access to government resources geared at helping the company move quickly to production. The purpose of the initiative is to the establish a stable and secure REE supply chain."

See link for other companies. (Avalon mentioned.)

[chico237]

Morning MB- "Canada and the US signed a Joint Action Plan to partner in creating greater North American resilience and independence in the extraction, processing and manufacturing of REEs and magnets." I like that a lot MB! nice article indeed.
The Canadian Govt. is working hand & hand with Search Minerals & SGS Canada (Lakefield) has MAG separated ore in preparation for SEARCH to run 20 TON pilot plant REE CONCENTRATE separation testing with their own proprietary separation methods & SX very SOON for PEA!
https://www.sgs.ca/

Search is running under the radar, but not for much longer IMHO...

Chico