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Grunt, thank you for your estimates!
Here's hoping that the NioCorp calculations track yours closely and are enough to convince some some investor or investor group to step up and fund this project.
Kmack; WV tax break; Not helpful. WV directed this tax break at the recovery of REEs from Coal fly ash and probably slag. It supports WV Mining and REE recovery efforts in their state, so it will not support Elk Creek at all, but rather a competing source of REEs that does not involve new mining.
See:
https://www.usgs.gov/publications/rare-earth-elements-coal-and-coal-fly-ash
Research into how to utilize coal and coal fly ash as sources of REEs is ongoing. Viable recovery of REEs from coal and coal ash requires identification of coals and ashes with the highest REE concentrations and development of workable methods for REE extraction and recovery. Understanding how REEs occur within fly ash, described in this fact sheet, is one of the keys to developing possible methods for their recovery."
I am glade that NioCorp relies on other minerals and seeks private funding, and I understand the delays, but Elk Creek needs to start construction before some bureaucrats in Washington decide decide to restrict any REE funding or production to Coal fly ash recovery only.
Chico; That is a pretty substantial sample!
Lets hope for good news on the Zirconium/Hafnium!
No recent news from USA Rareearths, no word on a public offering. I suspect that Search is moving ahead and will not rely on them.
https://www.usare.com/news
I suspect that Search will focus on starting up with small, sustainable mining as soon as possible.
Chico; Douginil: all
Chico, thanks for your post!
An article regarding REE Extraction in what is essentially an electric arc kiln/cupola to extract REEs from Coal Ash.
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https://www.science.org/content/article/electric-jolt-salvages-valuable-metals-waste#.YgwdrP-mb0U.mailto
snip..."The new process could help break that logjam. Today in Science Advances, a team led by organic chemist James Tour of Rice University reports using pulses of electrical heat to make it easier to extract REEs from industrial waste. The technique is roughly twice as efficient as current methods and uses far more benign chemicals."
“It’s a very interesting approach,” says Amir Sheikhi, a chemical engineer at Pennsylvania State University, University Park, who studies REE extraction. “With a pretty short, high-temperature treatment … these rare earth elements are set free.”
Tour’s team tested its process on fly ash, a powdery gray byproduct of burning coal that contains concentrated levels of the REEs originally present in the coal. The researchers mixed the ash with carbon black to improve electrical conductivity, and then placed the mixture in clear quartz tubes 1 to 2 centimeters wide and 5 to 8 centimeters long. Capacitors on the ends of the tubes sent a pulse of current through, causing the tube to flash yellow-white and produce a tiny puff of smoke. The temperature of the mixed powders spiked to 3000°C within 1 second, then rapidly cooled."
(more at link)
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Note that it does not extract the REEs, but makes them easier to extract them from industrial waste and coal fly ash, so additional steps are still necessary.
Not a process chemist or engineer but I think there would be a lot of problems getting this up-scaled economically or used on a different target "By-product." (Probably not, and if it is, not for years.)
Offhand, I do see a possible immediate use for this in doing small scale assays for REEs, but I am not sure how this might work on monzanite sands or bastinsite rock.
"Many government officials are keen on grabbing REEs from waste, rather than mining them, for economic as well as environmental reasons."
The article demonstrates a concern about unrealistic expectations.
I do see that Regulators, Legislatures and potential Investors have a bias for the political optics of using coal fly ash for REE production and wasting years waiting for unproven process technologies than in actual REE mining and production with proven methods to supply an immediate need. (Probably has been for some time...)
Niocorp Managment would prefer to fund with non governmental investments, but current regulator/legislator preference for extraction from coal ash wastes might make investors wonder if that bias will have an effect on any possible grant or loan guarantee approval to NioCorp by the U.S. Government. This might not be a big deal, but just some thoughts.
Chico, Douginil, Wyomingdude, all
Email message from Search Minerals recieved Wed, Feb 16 at 11:34 AM
Note; From the exposed surface of the deposit.
Very positive if you can start paying off the Debt beginning with actual mining operations.
Looking forward to the results of their sample run!
------------------------------------------------------------------
Search Minerals Magnetic Separation of Bulk Samples Commences at SGS Canada
VANCOUVER, British Columbia, Feb. 16, 2022 (GLOBE NEWSWIRE) -- Search Minerals Inc. (TSXV: SMY | OTCQB: SHCMF) (“Search” or the “Company”), is pleased to announce that two bulk samples of mineralization from Deep Fox and Foxtrot have been received and are being processed in our PHASE 1 magnetic separation program at SGS Canada (Lakefield) (“SGS”). The Deep Fox sample comprises 52.9 metric tonnes recovered from the exposed surface of the deposit. Similarly, the Foxtrot sample comprises 19.8 tonnes of surface material.
The SGS program involves crushing and grinding the bulk samples and feeding a series of magnetic separation devices to produce:
(1) a magnetic concentrate by Low Intensity Magnetic Separation (LIMS) containing predominantly magnetite (an iron oxide mineral),
(2) a magnetic concentrate by Wet High Intensity Magnetic Separation (WHIMS) containing the majority of the rare earth element values in the original sample and
(3) a final non-magnetic material fraction containing non-magnetic material, including the zircon mineral containing zirconium and hafnium.
The testing will be carried out at a scale of over 500 kg per hour of material treatment for the next few weeks. The results of the testing will be used as part of our “scale up” to a full commercial magnetic separation plant. The LIMS concentrate will be evaluated for sale as a potential iron ore concentrate. The WHIMS concentrate will comprise 18-20 tonnes of material from the two bulk samples. This concentrate will be used as material for our PHASE 2 program to further study and scale up the Direct Extraction Process for rare earth recovery. Finally, the non-magnetic concentrate will be studied for zirconium and hafnium recovery by flotation.
Dr. David Dreisinger, Director/Vice-President of Metallurgy states; “The benefit of producing a concentrate, using the grinding and magnetic circuit, prior to our proprietary Direct Extraction Process, is the reduction in size of equipment and reduced chemical and energy use to obtain similar overall recoveries of saleable rare earth elements.”
Greg Andrews, President/CEO states; “We continue with our “Sprint to Production” and this is a very important step to scale up and produce more material for further separation into individual oxides of the permanent magnet material, Neodymium (Nd), Praseodymium (Pr), Dysprosium (Dy) and Terbium (Tb). These are the key elements which create the value in the rare earth element supply chain. Upon producing the oxides, Search will demonstrate the transformation of the permanent magnet oxides into metal.”
Qualified Person:
Dr. David Dreisinger, Ph.D., P.Eng, is the Company’s Vice President, Metallurgy, and Qualified Person (as defined by National Instrument 43-101) who has supervised the preparation of and approved the technical information reported herein. The company will endeavour to meet high standards of integrity, transparency, and consistency in reporting technical content, including geological and assay (e.g., REE) data.
Enduro; Enduro's primary target minerals are primarily gold, copper, silver, and palladium group metals.
Cobalt was listed in some of the drill results. This is a mineral that will apparently be useful in E.V. battery technology.
While it is just a minor mineral in the portfolio, is there any sense that this might eventually be encountered on the property in any recoverable concentrations? (Or is that more a question for any mining group and future agreements?)
ENDURO, all;
Enduro Metals, news coverage.
https://menafn.com/1103653058/Enduro-Intersects-Mineralization-in-Multiple-Drill-Holes-Confirming-New-Porphyry-Discovery-at-Burgundy-Ridge
Highlights
"Newly received assays include:
BR21-03 which intersected 257m of 0.50% CuEq from surface , including 43m of 1.39% CuEq at surface .
BR21-04 intersected 84m of 0.72% CuEq from 57m downhole . The drill hole was also successful in identifying another high-grade mineralization style including 6.63% CuEq over 3.00m at 136m downhole. Due to early winter conditions, the drill hole stopped short of target depth while in mineralization.
These assay results expand on discovery hole BR21- 01 which intersected 331m of 0.71% CuEq from surface , including 18m of 3.00% CuEq at surface , and 146m of 1.00% CuEq at 138m downhole, and 1.80m of 7.30% CuEq at 218.6m (see News Release dated October 18th, 2021).
ST21-01 intersected 2.17% Cu and 27.07 g/t Ag over 9.37m from 15.92m downhole, including 7.20% Cu and 87.77 g/t Ag over 2.00m . These results were drilled 2.3km NE of Burgundy Ridge and support additional copper potential across the entire Burgundy system.
Results from the latest holes support the discovery of a porphyry copper/gold deposit first announced on October 18th, 2021 (see News Release dated October 18th, 2021). Alteration, mineralization style, and metal assay grades suggest that we are on the periphery of a porphyry system. Enduro continues to evaluate drill core and other data to help vector toward the core of this mineral deposit."
Further discussion at link
(Can also view in 2022 news: https://endurometals.com/
" About Enduro Metals
Enduro Metals is an exploration company focused on it's flagship Newmont Lake Project; a total 638km2 property located between Eskay Creek, Snip, and Galore Creek within the heart of northwestern British Columbia's Golden Triangle. Enduro has completed the earn-in under an option agreemnt and now holds a 100% interest (subject only to a royalty on a portion of the property) in 653 square kilometres. Building on prior results, the Company's geological team have outlined 4 deposit environments of interest across the Newmont Lake Project including high-grade epithermal/skarn gold along the McLymont Fault, copper-gold alkalic porphyry mineralization at Burgundy, high-grade epithermal/skarn silver/zinc at Cuba, and a large 9km x 4km geochemical anomaly hosting various gold, silver, copper, zinc, nickel, cobalt, and lead mineralization along the newly discovered Chachi Corridor."
Chico237, Douginil, All
The good thing is that Search Minerals wants greater exposure to investors. They appear to be serious about raising capital and have someone with experience to assist them in doing this. (Pretium is only onboard for 6 months so if its not working out they can move along. If it is easy to extend the contract.)
https://www.digitaljournal.com/pr/search-minerals-expands-advisory-committee-and-engages-investor-relations-firm
"Pretium principal, Mr. Dahl, has a proven record of being able to increase investor awareness and liquidity. Mr. Dahl was previously a vice-president and investment adviser with National Bank Financial, a leading Canadian investment dealer. In addition to managing a $150-million retail book and achieving Chairman’s Council level, Mr. Dahl participated in numerous capital raises totaling over $100 million directly for various issuers with total issuer financings of $1 billion on behalf of retail and institutional clients over a 20-year career.
Pretium shall receive a monthly remuneration of $5,000 per month and the contract expires August 31, 2022."
More News releases same subject news release.
https://www.marketscreener.com/quote/stock/SEARCH-MINERALS-INC-49478191/news/Search-Minerals-Expands-Advisory-Committee-and-Engages-Investor-Relations-Firm-39469011/
https://www.globenewswire.com/news-release/2022/02/14/2384700/0/en/Search-Minerals-Expands-Advisory-Committee-and-Engages-Investor-Relations-Firm.html
Chico! Getting it posted before I could! (Good deal!)
"Search Minerals Expands Advisory Committee and Engages Investor Relations Firm"
"Mr. Baxter has over 35 years experience in design and commissioning of process plants including innovative and technically challenging plants."
"Mr. Baxter and Mr. Krusen will be invaluable with helping Search advance its “Sprint to Production” plan."
Excellent!
We both know from other projects the amount of time and effort it takes to get a mine up and going. The fact that this will be a relatively shallow surface operation with access to Electricity, Transportation, and Labor should keep their CAPEX low.
Tax income and employment give the local Labrador authorities a big incentive to support this project!
Greg Andrews et.al. are serious and are not waiting around! Hoping in the next year for that US $1.50 S/P that someone suggested!
Chico; Glad to be back!
Everyone is getting better Thanks! (Visiting her in the hospital and I caught Coof I had avoided up to that point, so its like climbing back out of a dark hole!)
New mining management and an updated PEA on the way! Looking forward to 2022!
Chico; Douginil; Wyomingdude
SEARCH MINERALS 2022 EXPLORATION PROGRAM
This has not been posted to the Search Minerals website.
https://www.yahoo.com/now/search-minerals-exploration-2022-sprint-202300946.html
Search Minerals Inc
Fri, February 11, 2022, 2:23 PM·3 min read
Search Minerals Inc
Search Minerals Inc
VANCOUVER, British Columbia, Feb. 11, 2022 (GLOBE NEWSWIRE) -- Search Minerals Inc. (TSXV: SMY | OTCQB: SHCMF) (“Search” or the “Company”), is pleased to announce a corporate update regarding our upcoming 2022 exploration program. Our treasury is currently over $ 7.0M, which includes our recent $ 6.3M financing. This treasury will be used to accomplish the goals outlined below.
2022 EXPLORATION PROGRAM
The Company is well positioned to execute on its “Sprint to Production”. We are currently preparing our work programs for Deep Fox, Fox Meadow, Fox Valley, and other prospects within our Critical Rare Earth Element District in SE Labrador. We will also carry out some exploration on our Red Wine Rare Earth Element District in central Labrador. We are expanding our work force and planning for early mobilization to our field office in St. Lewis.
Deep Fox Project
We completed a very successful 7,000m drill program in 2021 and are preparing a 2022 work program which will consist of up to 14,000m of drilling. We are looking to potentially expand the current pit design, gather geotechnical information and carry out infill drilling to better define the resource. We will utilize 2 drilling rigs for the drill program, which will commence around May 15, 2022.
Fox Meadow Prospect
We completed a successful channel sample program in 2021, and the Fox Meadow prospect is drill ready. We have planned approximately 6,000m of drilling to further assess the underground potential of this prospect and an additional 500m of channels to expand the surface extent; REE mineralization is open along strike and at depth. Once the Deep Fox drill program has been completed, the drills will mobilize to begin the Fox Meadow program.
Other Prospects
We will continue channel programs on the Silver Fox, Awesome Fox and Fox Valley prospects.
Greg Andrews commented: “We are very excited about completing our current financing. We have over $ 7M in treasury, which is allowing us to initiate our ambitious plans in 2022. The recent macro developments in the rare earth market, including significant price increases for the permanent magnet REE’s, along with a forecasted supply deficit, has allowed Search to capture funding opportunities looking for advanced projects in North America. Our Deep Fox project is one of those projects, but the other attraction, is our District Scale opportunity that also includes the Foxtrot resource, and the drill ready Fox Meadow mineralized zone. Search is completing a Preliminary Economic Assessment ("PEA") on the Deep Fox project to be completed late March 2022, which will be followed immediately by commencement of a Definitive Feasibility Study for completion in 2023.”
About Search Minerals Inc.
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. 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.
Search has continued to optimize our patented Direct Extraction Process technology with the support from the Department of Industry, Energy ad Technology, Government of Newfoundland and Labrador, and from the Atlantic Canada Opportunity Agency. 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.
For further information, please contact:
Greg Andrews
President and CEO
Tel: 604-998-3432
E-mail: info@searchminerals.ca
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Search Minerals Up 13% as It Outlines Exploration Plans for its Labrador Rare-Earths Properties
BY MT Newswires
— 3:30 PM ET 02/11/2022
03:30 PM EST, 02/11/2022 (MT Newswires) -- Search Minerals ( SHCMF
Loading... Loading...
)
was up 13% after the company on Friday outlined exploration plans for its rare-earths properties in Labrador.
The company said it plans to drill its Deep Fox, Fox Meadow, Fox Valley projects while sampling other properties after completing a C$6.3 million financing.
"We are very excited about completing our current financing. We have over $ 7M in treasury, which is allowing us to initiate our ambitious plans in 2022. The recent macro developments in the rare earth market, including significant price increases for the permanent magnet REE's, along with a forecasted supply deficit, has allowed Search to capture funding opportunities looking for advanced projects in North America," chief executive Greg Andrews said in a release.
Search shares were last seen up C$0.02 to C$0.18 on the TSX Venture Exchange.
Price: 0.18, Change: +0.02, Percent Change: +12.50
MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.
Chico; Enduro; thanks for posting Cole's discussion on Korlin Economics report!
Several points on the discussion of Burgundy ridge drilling.
The 2021 drilling prodgram located a new alkalic porphyry system. Longer mineralizations intervals but also capable of local higher concentrations. Many are located at shallow depth.
Considers the mineralization at Burgandy Analogous to Galore Creek mineralization (silica saturated phorphry I think he said?)
Per Cole: "Different style mineralizations. Have some spectacular grades in there. "Vertical mineralization...look like carrots" Mentioned "chalcocite stringers"..."2 meters with 7.2% copper with 88 grams of silver.
Have a mix of other drill projects pending results, including Chachi. He will return to the program to discuss once released. Some discussion of this years drilling program.
Mentioned Feb 2 news release regarding completion of the the Newmont Lake property. Some discussion of current cash situation.
Interviewer is invested in Enduro.
(People should listen to the interview. Better than me attempting to transcribe it.)
(TSX.V:ENDR – OTCQB:ENDMF)
For charts of the burgandy program discussed here see the link above or:
https://endurometals.com/
Chico; See the new posts at the top. A couple of new posts from the company, a lot of the previous clutter removed!
(Issue with daughter....things are getting better!)
Chico: Thank you for your posts here, and on the Niocorp board! I hope things are going well for your this new year!
Here and on the NioCorp board you really do produce some of the best research! Thank you!
I have added some to my positions and converted some shares from an IRA to a Roth to keep as much growth in the Tax free account.
Lately I am doing a good deal less research now due to Family matters so mostly watch remaining patient. ( My Daughter was ill but is doing well now will need some full time care for a while.)
As far as my "research" It was never as in depth as yours!
(ENDMF, my precious metals exploration stock, went up today on no news that I could see.)
Chico, thank you for posting, this is very positive for SearchMineral's new year! I like the target you mentioned of $1.50 US sometime in 2023 or 2024 including the possibility of a partnership with US Rare Earths.
Wishing you and anyone else who reads this a Prosperous New Year!
PM. Alas! I am crushed that it was not Rockwell International! (It would still be a good fit.)
Chico, All; And a Merry Christmas to you and yours Chico, and to everyone on this thread!
M.M. Thx...My post was in reply to 77089. "Rockwell Automation we have the contract with but Mr Grunt wrote in his notes that Rockwell international was at the AGM."
PM, kaseymo, chico; What I find interesting is that Rockwell Industries has a product line of Ferrous and Aluminum and Titanium metals
Rocwell..click "All Products"
It would seem a nice fit for a producer of specialty metals to have a nice supply chain beginning with a supplier of niobium, scandium, and or titanium for Elk Creek development.
Additionally, Rockwell also does not appear to have much overlap with IBC Specialy Alloys' line of copper/beryllium (Berylcast) products and that t does not have any Niobium or Scandium alloy products. These two specialty metal producers also do appear to have overlapping customer bases (Aerospace, defense etc) M.S. is linked to both companies which might be a good reason for Rockwell to be at the meeting. (To be a signal to us and for discussions with M.S. and others after the meeting?)
I could see a buyout for IBC. A Mine?? I suspect they would prefer to stick to producing and marketing their metal product and not run a mine. They might invest in it and take product in payment however??
Just wild unfounded speculation all based on the appearance of a single attendee at a NioCorp's annual meeting. Take what you want from it.
Just some thoughts for a cold winter night to enjoy with a shot of warming Mandarin Absolute.
Wagner; " it would be nuts to get not even an chinese to sign the paycheck......."
Yes nüsse, verrückt. (nuts, crazy; Trnslation for the Investerhub mods)
No CCP involvement at any level thank you. I will NOT post a list of all the companies in the US that were quietly purchased and are now owned and controlled by the CCP. Elk Creek development and NioCorp should remain U.S./Canadian controlled.
While I am sure the CCP would be willing to buy a mine to reduce competition and control the market but they are starting to have their own issues with Paying their bills so I am not certain how much they have available.
https://www.rfa.org/english/news/china/bonuses-07122021142758.html
"China’s debt problem just keeps getting bigger, and now, the Communist economy faces a major conundrum as it stands between a mountain of debt and an acute shortage of money. The Chinese Communist Party has been evading problems created by itself for too long now. Under Xi Jinping’s “common prosperity” goal, wealth was supposed to be distributed from the rich to the poor and bring everyone on the same plane in terms of affluence. However, his strategy seems to have failed big time, as the fiscal health of China has been exposed to be slipping down the drain. The Chinese government is running out of money, and now, it is unable to pay its workers." (More at link)
That Said, I want to wish you and everyone on the NioCorp thread, a good Sunday and Wonderful Holiday Season!
Whistler Village, BC Canada
Chico,All; Enduro Metals 2 Recent Video Updates (11/25 & 12/7)
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November 25 Cole Evans at Deutsche Goldmesse
Exploration in BC's Golden Triangle | Enduro Metals Corp.
Cole explains how he got involved in the company, his background, and information on the major investors.
He provided information on Infrastructure that will support the project;. When purchased, there was purchased no road access, now have road access to both the north and south ends of the property. He showed a picture of a HydroTurbine Electric generation plant that sits just off or their property ("See the treeline in the picture (Of the turbine) That is the edge of our property!"
Gave quick update on drilling at Burgandy ridge (More in next video.) 331 meters of .761% CU. "Or the interval I like the most, 146m of 1% CU
At a certain point he hurried through. They have a number of high grade gold deposits near the surface. They want to explore and develop to a certain point, bring in mining firms to mine possibly proceeds to generate cash from a sale or in the form of a joint or cooperative venture with long term cash flow which they feel will result in the most value to their shareholders. ("We are not here to mine it but to discover it and sell it to someone who will take it to the next level.")
(See the video!)
------------------------------------------------------------------------
December 7 interview with Dylan Hunko COO
Mines & Money 2021: How did Enduro Hit 331m at 0.71 CuEq?
2019 shallow holes, 2020 started deep drilling.
Found New Porphyry in 331 m core w .71 copper equivalent CU + AU grades almost equivalent. <1% magmas are Alkaline Magma and they have found one.
Need to engage in systematic drilling but will be focusing on Burgundy ridge and McLymont projects. Cuba has produced drilling with 1 gram AG. (I assume per ton...not stated)
Managment has discussed making distinct groups or companies for different projects to be more efficient in developing and providing best S/O value. No definite plans yet.
They expect to own 100% of Newmont Lake property outright with a final cash payment in February.
The next few months they will be getting out and promoting the company to investors and shareholders. They still have 95% of their results yet to come (Core analysis I assume) In 2022 He expects 6-8 months out in the field drilling.
P.M.; $1.19 US is the price the Market Maker for NIOBF appears set the price at, so they are apparently trying to encourage or determine a higher price range.
Nordmin share conversion announcement in next day or so? Share dilution. Announcement tomorrow or not enough impact to note?
Interesting December weather yesterday on the KS/MO border. 70 degrees Fahrenheit, 60-70 MPH straight line winds, power outages, followed by a squall line that sucked wildfire smoke from Central Kansas straight east into the KC area. 1st rain in 30 days After the storm. Smoke everywhere, smelled like the neighborhood was on fire. I think InvestorsHub has its US servers in Harrisonville Missouri, not far from here. Not on the outage map this morning. . Probably the same experience for some Nebraska posters, except there might have been snow?
Grunt; Thank you for taking the time to calculate and post this!
NE that's ok, be picky!
OmahaInvestor,Nebraskan; M.S. Loan and how this might go from here?
Well, The Air Permit was extended until April 20 2022, and this has been extended June 30, 2022. Time-frames are tightening up. The NE Air Permit short extension puts pressure on them to "get it done".
The M.S. short extension period makes it sound like they anticipate that they can retire his loan within that time frame so hopeful sign for Financing. (The M.S. announcement has been posted to SEDAR, 12-3.)
Nordmine convertible note (Nebraskans post below) is up Dec 18. Since that falls on a weekend we should get another news release this Thursday or Friday? (I wonder if Nordmine is involved in the final REE analysis that they will be making?)
After Nordmine we should get REE results but since holidays slow everything down probably early January. This also gets them a full 40 days blackout period.
I suspect that IF this extended blackout period is for a possible financing package / merger / buyout, the other side wants the REE info and final CAPEX Amounts and/or REE off-take or processing agreements before finalizing financing. Financing agreements covenants, etc take a bunch of time. If it involves an International corp in some place like Brazil or South Africa it extends the process, so I hope any financing originates in the U.S. or Canada.
I do not know where the final drilling to determine if Ground Freezing will fall on the critical path chart? Before or after possible financing? Probably after.
Once Finanacing... Initiate road and and utility improvements and place Rockwell Automation order. Scrape off some site topsoil and plant some marker flags. This will satisfy the Air Permit Contruction Start requirement.
Drill at shaft site to determine if freezing needed. Start scheduling with Cementation, Line up contractors for buildings and sheds, do tests for soil loading requirements for proposed building sites, etc.
Hoping for late spring start, but we all know that that has been promised before!
There you go, obvious to most except new readers to the board, probably more than you wanted.
monocle,wagner; News of extension posted to NioCorp site.
https://www.niocorp.com/niocorp-ceo-and-executive-chairman-mark-smith-extends-maturity-date-of-credit-facility-to-the-company/
CENTENNIAL, Colo., Dec. 13, 2021 /CNW/ -- NioCorp Developments Ltd. ("NioCorp" or the "Company") (TSX: NB; OTCQX: NIOBF) is pleased to announce an agreement with NioCorp CEO and Executive Chairman, Mark A. Smith, to extend the maturity date of its existing $3.5 million non-revolving credit facility with Mr. Smith to June 30, 2022.
The agreement to extend the credit facility is subject to Toronto Stock Exchange approval and is a "related party transaction" under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"). Because the value of the credit facility is less than 25% of NioCorp's market capitalization, the agreement to extend the credit facility is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101.
NioCorp $NB $NIOBF #Niobium #Scandium #ElkCreek #MarkSmith
Chico; "...good core "grades/ppms" at the "Thickness" (600'-2500+')"
And of course, open at Depth!
(Hey Chico! jes dropped by the thread for a moment for a quick update!)
PM,Wagner; there may also be Tax considerations as to whether they finance this year or next depending on the tax laws in place. They are Fiscal Year filers (June 31 ends there Fiscal year) so they may be waiting until 2022 for any pending legislation to take effect.
Current US Tax code provides for Research and Development credits. Will these be changed under the current administration? They are not particullarly pro mining, and prefer to get REEs from Coal Ash.... see:
https://www.reuters.com/article/us-critical-minerals-ahome-idUSKBN2FD1GU
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THEN THERE is pending legislation.
A law that has NOT been passed yet that provides a non-refundable credit against tax due for the production of REE magnets. It could affect NioCorp by creating demand for their refined REE Product. (This would most directly affect USA RareEarths, who owns a REE magnet factory they purchased from Hitachi located in North Carolina and currently has an investment in Round Top in Texas. (A mine with lower REE concentrations and would be the primary product....)
https://swalwell.house.gov/media-center/press-releases/swalwell-and-reschenthaler-introduce-bill-incentivize-american-made-rare
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I do not see anything directly supporting REE mining in the Infrastructure bill, at least as regards funding for Nebraska:
https://www.wowt.com/2021/11/17/live-how-infrastructure-act-will-impact-nebraska/
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Regarding Debt Financing;
https://www.mining.com/web/newmont-to-sell-first-sustainability-linked-bonds-from-a-miner/
"Newmont Corp., one of the world’s largest gold miners, sold $1 billion of bonds giving it a financial incentive to cut emissions and improve corporate governance, the first company in the energy-intensive industry to issue such securities.
The company’s 10-year bonds will pay investors a higher interest rate if it fails to cut emissions, or to sufficiently boost the percentage of women in its senior leadership positions by 2030, Newmont said in a filing. The securities priced on Monday and will yield 1.17 percentage point more than Treasuries, according to a person with knowledge of the matter. ...snip)
The notes it is selling are a type of environmental, social, and governance security known as sustainability-linked bonds, sales of which have surged in recent months, reaching a record high for the year. Global sales of the bonds are around $105 billion so far this year, a record and up from just $10 billion the whole of last year, according to data compiled by Bloomberg."
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I think that NioCorp is already pretty clean environmentally so not sure how this would apply to them, so consider it just one more Data Point in the Universe of Mining Finance. (Less available investment going to other miners in the "Need Funding" pool.)
Douginil; Doug in the heartland! Great analysis! You hit it to the moon! ;)
Chico; Thanks! I had not seen that yet, Good deal!
Search managment is taking steps to get the the mine and separation processing up and running! Yes diultion of shares, but someone still expects the S/P to rise! Pending regulatory approval which is probably easier to do in Canada. (Obviously easier when you are surface mining than having to sink several shafts!
Lets see what happens today!
Kmack; Well, we should find out soon. It will take off when we start to get some brokerage firms recommending it to their portfolio buyers and brokers. At a Minimum, that won't be until we get their REE report, some funding, and a groundbreaking. Hopefully soon!
GLTA
Kmack! Could Reddit be calling out to you for some of your enthusiastic posts?? :)
We are all hoping NiCorp S/P shoots up and you (and we....) make a pile of cash!
Chico237, douginil, Landmark8211111; $5,000,000 Private Placement
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
(Canadian Investors only I think; L.M. I feel like I need a guest Canadian in order to post this announcement! Welcome! ;)
Management resolved the NSF and secured their mineral rights and have moved right on to a private placement. I think that the placement is for Canadian or insider investors only. Will have to wait for securities filings to determine.
VANCOUVER, British Columbia, Dec. 03, 2021 (GLOBE NEWSWIRE) -- Search Minerals Inc. ("Search" or the "Company") (TSXV: SMY | OTCQB: SHCMF) is pleased to announce that the Company is conducting a non-brokered private placement of up to 20,000,000 flow-through common shares of the Company (the "FT Shares") at a price of $0.25 per FT Share for maximum gross proceeds of up to $5,000,000 (the "Offering").
The Company intends to use the proceeds from the Offering to incur eligible Canadian exploration expenses and flow-through mining expenditures, within the meaning of the Income Tax Act (Canada), on the Company’s projects, including the Company's Deep Fox project in the Critical Rare Earth Element District of South East Labrador (the “District”) and other exploration work in the District.
The Offering is expected to close before December 31, 2021 and is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including the approval of the TSX Venture Exchange (“TSXV”).
The Offering is expected to close before December 31, 2021 and is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including the approval of the TSX Venture Exchange (“TSXV”).
In connection with the Offering, the Company may pay finders’ fees to certain arm’s length parties, as permitted by the policies of the TSXV. All securities issued in connection with the Offering will be subject to a four-month hold period under applicable securities legislation.
Certain insiders of the Company may participate in the Offering. The participation of Insiders in the Offering will constitute a “related party transaction” within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company anticipates relying on the exemptions from the formal valuation and minority approval requirements in Sections 5.5.(a) and 5.7(1)(a) of MI 61-101, on the basis that the fair market value of the transactions does not exceed 25% of the Company’s market capitalization.
No link yet. Not posted to the SHCMF website at this time!
$5,000,000 Additional funding raised at Cd $.25 /Share!
From their website:
"Our strategy is simple; bring in the right investment and operational partners, focus on efficient operations and through new exploration and development, identify additional throughput to provide economies and greater shareholder value."
Hopefully closer to USA Rare Earths as a partner! Good night!
Wagner. Where does NioCorp stand?
Nebraska, The air Permit: NE has given them a nudge with an April 2022 construction start date.
The company has cancelled speaking at 2 conferences. They decline discussion about why, but do indicate that they are in a "Self imposed quiet period" without giving a reason or time frame.
They have a shelf filing for 200,000,000 shares. The registration was approved and the shares are available to issue. We do not know if they will be issuing to pay operating expenses or for an ownership position in return for CAPEX funding that will be used to
They hold their Annual meeting as planned. The meeting is short, but management remains accessible to the attending shareholders and acts positively. A representative from Rockwell international attends. Rockwell previously signed an agreement or MOU (do not recall which) to fabricate the NioCorp Processing equiptment. I think that is is an important signal.
Other than a planned and announced retirement nobody is quitting or leaving the company, nobody is selling shares except to pay the the cost of exercising expiring warrents.
Remaining questions:
Drilling in the shaft site to determine if Ground freezing is actually required and the REE report and the final design for piggybacked REE separation processing of previously approved Sc/Nb/Ti processing equiptment.
I think these confirm multiple poster's suggestions that NioCorp management has reached an agreement for Equity funding and maybe debt funding with some investor or investment group and we are in a quiet period, which depending on the start date might end in late December or early January.
The presence of the Rockwell representative at the annual meeting was, I think, something of a signal to us. I think that the start of fabrication of processing equiptment is somewhere at the start of Scott Hohnan's critcal path planning and will satisfy the NE construction start requirment. REE processing equiptment can be added as required based on the "Whenever" REE report. Drilling to determine if freezing is needed will be followed by construction on access road and utility improvements to the site, etc.
Nothing really new, just something of a summary.
Chico; Search has the backing of the Canadian Government and local support , They have existing infrastructure and their deposits are on or near the surface, they have developed separation methods that result in a Low CAPEX and small environmental footprint!
Several reasons from:
http://searchminerals.ca/investors/why-invest-in-search-minerals
High Concentrations of Critical REE – Nd, Pr, Dy and Tb
Low capital cost $152M (including a $33M contingency)
A scalable breakthrough hydrometallurgical process (U.S. patent pending)
After-tax payback period – 4.4 years at a 1,000 tpd production rate
(More at Link!)
Compared with other projects, a low Capex with a 4.4 year payback period.
While everyone should do their own Due Diligence, the price is currently low, so a great time to accumulate!
Grunt23; Thanks for your the AM after action report! It still sounds positive.
I would rather they be careful in their discussions than have to deal with securities regulators mucking around and causing all kinds of problems.
Chico; Search Completes purchase of NSR on Properties held in District
http://searchminerals.ca/news/news-releases/search-minerals-completes-purchase-of-2-5-nsr-on-properties-held-in-their-critical-rare-earth-district-in-se-labrador
Vancouver, B.C. December 2, 2021 – Search Minerals Inc. (TSXV: SMY | OTCQB: SHCMF) (“Search” or the “Company”) is pleased to announce that, further to its August 11th press release, it has now closed the purchase of a 2.5% Net Smelter Royalty (“NSR”) from B&A Minerals Limited (“B&A”) for 15,000,000 common shares in the share capital of the Company. The transaction also included some property transfers between the parties. The 15,000,000 common shares that have been issued by Search will be restricted and released over 24 months, with 25% being released every 6 months following the date of the closing.
Net Smelter Royalty
B&A held a 3% NSR Royalty (“Royalty”) over the licenses contained in a large portion of the Company’s Critical Rare Earth Element District in SE Labrador. Following closing, B&A will retain 0.5% NSR on the remaining consolidated 3 licenses including the Foxtrot project, along with our prospects of Fox Meadow, Silver Fox, Awesome Fox and up to 20 other prospects. The Company had the option to purchase 2% of the Royalty for $2,000,000 as per the 2009 B&A Mining Option Agreement (“Option Agreement”). Search has exercised that right along with the purchase of an additional 0.5% of the Royalty.
Also, for greater certainty, the 2009 Mining Option Agreement between B&A and Search has now been fully discharged without any further existing or future contractual obligations between the parties.
(More info at link!)
They say it helps them with any future offtake agreement! Hoping USA Rare Earths will be more likely to act!
Boilermaker; If they could get this compressed lattice Fusion to work it would be even better, nothing toxic. (Hydrogen/duterium. Floride...dangerous? I think so.)
I think they also could find deuterium in the mining pit when they pump out the water! :)
Time will tell, we wait.
Douginil; re Russia and Beijing and Green power.
Snip...."This will increasingly enable Moscow and Beijing to influence norms regarding nuclear nonproliferation and impose new operational and safety standards designed to give their own companies a lasting leg up in a sector"
Neither has a history of openness or safety. How long was it before Russia revealed the problem at Chernobyl? Breeder reactors will probably be the norm since they produce material that can be used for weponds. I won't even get into Fukashima, a total S.Storm.
(Did you ever visit the site of the first Nuclear pile at U.Chic.? I never went closer than to drive past the site, that and past Fermilabs in Batavia. Ah well.)
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Elk Creek! Future fusion??
Does Elk Creek have any Erbium among its REEs? NASA is experimenting using Erbium for restrained lattice duterium fusion. (There is also a Japanese scientist who is using Palladium/zirconium for the lattice.)
Nebraskan; The SEC has filed a notice of effectiveness about 1 week after the shelf registration, so number 1 does not apply.
"(1) The quiet period lasts until the SEC declares the registration statement to be in effect."