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CHICO237, douginil; Search Minerals Enters Letter of Intent to Purchase 2.5% NSR on Properties Held in Their Critical Rare Earth District in SE Labrador
https://finance.yahoo.com/news/search-minerals-enters-letter-intent-203000562.html
Search Minerals Inc
Wed, August 11, 2021, 3:30 PM·4 min read
In this article:
View my watchlists
VANCOUVER, British Columbia, Aug. 11, 2021 (GLOBE NEWSWIRE) -- Search Minerals Inc. (TSXV: SMY | OTCQB: SHCMF) (“Search” or the “Company”) is pleased to announce that it has entered into a non-binding letter of intent (“LOI”) to purchase 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 will also include some property transfers between the interested parties. The 15,000,000 common shares will be restricted and released over 24 months, with 25% being released every 6 months following the signing of the definitive agreement. The parties will now start negotiating a definitive agreement for the proposed transactions which, once signed, will supersede the LOI.
Net Smelter Royalty
B&A current holds 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. Upon closing of the transactions contemplated in the LOI, 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”). Pursuant to the terms of the LOI Search will exercise 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 will, once the definitive agreement is signed, be fully discharged without any further existing or future contractual obligations.
Property Transfers
As part of the Royalty purchase, B&A and Search have agreed to transfer some licenses between the interested parties. Please see attached map which shows the claims to be transferred to each applicable party.
Search Minerals Inc
Wed, August 11, 2021, 3:30 PM·4 min read
In this article:
View my watchlists
VANCOUVER, British Columbia, Aug. 11, 2021 (GLOBE NEWSWIRE) -- Search Minerals Inc. (TSXV: SMY | OTCQB: SHCMF) (“Search” or the “Company”) is pleased to announce that it has entered into a non-binding letter of intent (“LOI”) to purchase 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 will also include some property transfers between the interested parties. The 15,000,000 common shares will be restricted and released over 24 months, with 25% being released every 6 months following the signing of the definitive agreement. The parties will now start negotiating a definitive agreement for the proposed transactions which, once signed, will supersede the LOI.
Net Smelter Royalty
B&A current holds 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. Upon closing of the transactions contemplated in the LOI, 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”). Pursuant to the terms of the LOI Search will exercise 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 will, once the definitive agreement is signed, be fully discharged without any further existing or future contractual obligations.
Property Transfers
As part of the Royalty purchase, B&A and Search have agreed to transfer some licenses between the interested parties. Please see attached map which shows the claims to be transferred to each applicable party.
B&A and associates will transfer the following Licenses which are in the proximity of the Company’s Fox Meadow prospect: Fox Meadow area (027318M, 032539M, part of 027599M and part of 027429M) and Deep Fox area (027447M). These licenses will be included in the updated NSR registration and be subject to the existing 0.5% NSR. Search will grant B&A the quarry/gem rights on the above 4 licenses transferred in the Fox Meadow area only after Search has explored/developed those licenses in exchange for a 3% NSR or similar form of royalty.
Search will transfer license 024083M to B&A and receive a 0.5% NSR royalty. This license does not form any part of our Critical Rare Earth Element District.
Greg Andrews, President and CEO states: “We believe the reduction of the Royalty, will provide flexibility with our future discussions regarding offtake agreements and funding for the projects. Our immediate goal remains to advance our Critical Rare Earth Element District to production. This will require (a) advancing our DEEP FOX project to a measured and indicated resource, (b) provide engineering and economic studies such as Preliminary Economic Assessments (“PEA”) and Feasibility Studies and (c) develop and submit an Environmental Assessment report to initiate the environmental and permitting process for DEEP FOX and FOXTROT. The reduction of the NSR will be included in the upcoming PEA.”
Corporate Developments:
On April 12, 2021, the Company put into effect a blackout on trading of the Company’s shares for the management and board of directors of the Company and InCoR Holdings (the Company’s controlling shareholder). This blackout is now lifted.
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 generous support from the Department of Tourism, Culture, Industry and Innovation, 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.
Kmack; No, I do not think we want either of those two to have anything to do with NioCorp! Let them buy the final refined product if they want.
Better to have partners or investors in/with mining or mineral processing companies or experience.
Boilermaker, Thanks for your observation: "Late in the engineering process". Working with Weir who will be:
"Focused on solving mining’s key sustainability and productivity challenges
Weir’s innovative engineering provides solutions to critical challenges within the mining supply chain. It is the only provider of market-leading solutions from pit to processing. Its differentiated technology is used in highly abrasive from extraction to concentration and tailings management."
No comments from Mark Smith in the news release. Scott Honen as the Technical SME and "Qualified Person" took the lead in the announcement.
Looking forward to Phase II results!
Chico237; Antler, Thank you for posting! Info on Weir.
https://www.global.weir/about-us/
150 years of innovative engineering
"Founded in Glasgow by brothers James and George Weir in 1871, over 150 years Weir has evolved into a focused, high quality mining technology business, providing mission-critical solutions for smarter, more efficient and sustainable mining to a global customer base.
Weir’s purpose is to “enable the sustainable and efficient delivery of the natural resources essential to create a better future for the world”. We do this by focusing on what makes us distinctive, as expressed in our ‘We are Weir’ strategic framework that informs decision making across the organisation.
In order to ensure everyone in the business has a stake in Weir’s long-term success every Weir colleague is given the opportunity to become a co-owner of the business, supported by free shares as part of our Weir ShareBuilder programme.
Focused on solving mining’s key sustainability and productivity challenges
Weir’s innovative engineering provides solutions to critical challenges within the mining supply chain. It is the only provider of market-leading solutions from pit to processing. Its differentiated technology is used in highly abrasive from extraction to concentration and tailings management.."
More at link
They hired some fisted Scotsmen to squint out how to cut mine processing costs!
(Chico, there it is, no Wheat Ridge!
Chico237; Chico; The USARee Wheat Ridge separation is using some sort of Chromographic ion separation process rather than dry magnetic separation (like Search Minerals.)
As to whose 3rd party REE feedstocks they were testing in Wheat Ridge I have no idea, it was just some idle speculation in a slow time.
P.M. Heck, I went out and bought 100 shares at the $1.08 USD Day High to start the new week.
Off to take on my summer, water, plant, kick some dirt around. :)
P.M. Chico; 08/09/2021 8:27am Bid $1.01 US Ask $1.08 US on 200 shares.
Pretty sure there will still be 100 shares remaining for purchase at $1.08 when it opens. (Positive on the chart? Will this push it up for a while? It always goes down mid day in any case. No news on the NioCorp site at this time.)
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Within the last 2 weeks: (Pretty sure this has been posted before!)
Prices are in USD.
https://www.tipranks.com/news/blurbs/niocorp-developments-niobf-receives-a-buy-from-h-c-wainwright?mod=mw_quote_news
NioCorp Developments (NIOBF) Receives a Buy from H.C. Wainwright
Jason CarrJason Carr
Jul 27, 2021, 5:18 AM
[NioCorp Developments (NIOBF) Receives a Buy from H.C. Wainwright] In a report released today, Heiko Ihle from H.C. Wainwright reiterated a Buy rating on NioCorp Developments (NIOBF – Research Report), with a price target of $1.40. The company’s shares closed last Monday at $1.02.
According to TipRanks.com, Ihle is a top 100 analyst with an average return of 36.9% and a 56.0% success rate. Ihle covers the Basic Materials sector, focusing on stocks such as Solitario Exploration & Royalty, Northern Dynasty Minerals, and First Majestic Silver.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for NioCorp Developments with a $1.40 average price target.
The company has a one-year high of $1.65 and a one-year low of $0.53. Currently, NioCorp Developments has an average volume of 235.7K."
Everyone should do their own D.D.!
Chico; I was looking at the previously mentioned question of USA Rare Earths Wheat Ridge processing plant and the 3rd party feedstock.
https://finance.yahoo.com/news/usa-rare-earth-reports-significant-135200241.html
...snip..."USA Rare Earth’s Critical Minerals Processing Facility in Wheat Ridge, Colorado has successfully completed its Phase I program, separating the various coproducts and byproducts at Round Top and separating individual rare earth elements from both Round Top and third-party rare earth feedstock, which is a significant milestone not only for the Company, but also for project owners seeking alternative processing solutions to China."
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While it would make sense that the 3rd party feedstock might originate with Search Minerals, Search indicated in their April 21 news release that the results of their magnetic separation run would be sent to SGS Canada:
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From 4/21/2021
"http://searchminerals.ca/news/news-releases/search-minerals-announces-results-of-magnetic-separation-testing-to-produce-rare-earth-concentrates";
...Snip... "Further work at SGS Canada is planned to investigate increases in recovery and grade of the WHIMS rare earth concentrates and to demonstrate REE recovery via the Search Direct Extraction process applied to the concentrates. " (More at link)
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There is, of course, nothing to prevent Search Minerals from sending their magnetically sorted product to two different facilities to determine the most efficient and cost effective processing for their product, but this is pure speculation and no news story suggests this.
Niocorp; I shouldn't read much into it, because Denver is a mining mineral processing center, but both Centennial CO and Wheat Ridge CO are within the Denver 470 loop. (Creating a connection based on location that does not really exist.) Just keep wondering what has happened to the product from the NioCorp Minnesota roller mill demonstration and if it ended up at the Wheat Ridge separation facuility? (Creating a connection that does not exist which is based on similar time frames.)
I suppose at the end of the summer that NioCorp will want to release the Roller Mill info at the same time as their REE review of the historical core REE contents, so we will continue to wait for a while for the actual newspiece.
(Just passing summer vacation time with wild speculation. Due Diligence investors!)
Chico237,douginil,all; Previously posted; USA Rare Earth Technical collaboration with SHCMF
http://searchminerals.ca/news/news-releases/usa-rare-earth-participates-in-search-minerals-private-placement-with-strategic-investment-of-cad630-000-cdn
"Vancouver, B.C. March 11, 2021, Search Minerals Inc. (TSXV: SMY) (“Search” or the “Company”) and USA Rare Earth, LLC (“USA Rare Earth”) are pleased to announce that USA Rare Earth, LLC purchased 9,000,000 units at $0.07 per unit for proceeds of $630,000 CDN in the Company’s most recent financing that closed on March 11, 2021.
On November 10, 2020 Search and USA Rare Earth, jointly announced a Technical Collaboration Framework Agreement whereby the two companies would work on several initiatives. USA Rare Earth is the funding and development partner of the Round Top Heavy Rare Earth, Lithium and Critical Minerals Project in Hudspeth County, West Texas, together with Texas Mineral Resources Corp. (OTCQB: TMRC)As part of Search’s and USA Rare Earth’s development plans, the companies intend to expand the collaboration to include discussions regarding separation, marketing and off-take of Search’s future production.These discussions are in line with Search’s ambition to be an important contributor to the development of a North American Critical Material supply chain and USA Rare Earth’s strategy of Mine-to-Magnet processing.
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 43-101 Preliminary Economic Assessment report for FOXTROT, and a 43-101 resource estimate for DEEP FOX. Search is also working on three significant exploration prospects along the belt which include: FOX MEADOW, SILVER FOX and AWESOME FOX."
USA Rare Earth is building an integrated Mine-to-Magnet supply chain as the development and funding partner of the Round Top Mountain critical minerals and heavy rare earth project in Hudspeth County, West Texas, the owner of sintered rare earth magnet manufacturing equipment previously owned and operated by Hitachi Metals in North Carolina, and the operator of a a rare earth and critical minerals facility in Wheat Ridge, Colorado, which is commissioning a pilot plant using Continuous Ion Exchange (CIX) extraction, separation and recovery methods using feedstock from Round Top and other non-Chinese sources.
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https://finance.yahoo.com/news/usa-rare-earth-reports-significant-135200241.html
USA Rare Earth LLC
Mon, August 2, 2021, 6:52 AM·6 min read
SIERRA BLANCA, TX , Aug. 02, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- USA Rare Earth LLC, the operator and owner of 80% of the Round Top (“Round Top”) Heavy Rare Earth, Lithium and Critical Minerals Project in Hudspeth County, Texas, together with its joint venture partner Texas Mineral Resources Corp (OTCQB: TMRC), is pleased to announce significant progress at Round Top and its Rare Earth & Critical Minerals Processing Facility in Wheat Ridge, Colorado.
“We are excited by the progress at Round Top and at our processing facility,” said Pini Althaus, CEO of USA Rare Earth. “The team has achieved important milestones as we build a resilient, long-term critical minerals supply chain that is totally independent of China.”
...snip...
"Downstream Processing
USA Rare Earth’s Critical Minerals Processing Facility in Wheat Ridge, Colorado has successfully completed its Phase I program, separating the various coproducts and byproducts at Round Top and separating individual rare earth elements from both Round Top and third-party rare earth feedstock, which is a significant milestone not only for the Company, but also for project owners seeking alternative processing solutions to China.
The first phase comprising a single pass through the ion exchange chromatographic columns has achieved total rare earth (TRE) purity (including yttrium) of better than 99% and target rare earth content of more than 99.5% of TRE, which is consistent with commercial standards.
Phase II, scheduled to commence by early August, will involve larger volumes of feedstock from Round Top and third-party suppliers. An initial objective will be to precipitate high purity separated rare earth oxides. To facilitate both the larger volumes of feedstock and third-party materials, the company has expanded the facility in Wheat Ridge."
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There is a question regarding the source of the "3rd party feedstocks" being separated by the Wheat Ridge plant. While it would make sense that the feedstock might originate with Search Minerals, but Search indicated in their April 21 news release that the results of their magnetic separation run would be sent to SGS Canada:
"http://searchminerals.ca/news/news-releases/search-minerals-announces-results-of-magnetic-separation-testing-to-produce-rare-earth-concentrates"
...Snip... "Further work at SGS Canada is planned to investigate increases in recovery and grade of the WHIMS rare earth concentrates and to demonstrate REE recovery via the Search Direct Extraction process applied to the concentrates. " (More at link)
There is, of course, nothing to prevent SearchMinerals from sending their magnetically sorted product to two different facilities to determine the most efficient and cost effective processing for their product, but this is just speculation. USA RareEarths is, at this time, an investor in SHCMF so......???
Note that I have NO information that is not available from public sources, and this is just speculation on my part. Everyone should do their own due diligence.
All; reposting from Search Newsroom;
http://searchminerals.ca/news/news-releases/search-minerals-selected-to-participate-in-government-of-canada-accelerated-growth-service-initiative
" 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.
Under AGS, Search has been partnered with a designated AGS client lead, supported by one representative from each participating government department. The Search AGS team is led by the Atlantic Canada Opportunities Agency (ACOA), which has invested in several Search Minerals projects over the past few years. " more at link
Kmack; Sorry, Did not see anything here;
https://www.newsbreak.com/channels/humboldt-ne
All; Article from 2020
https://themarketherald.ca/rob-mcewen-to-acquire-2m-stake-in-enduro-metals-tsxvendr-2020-07-23/
"Goldcorp founder Rob McEwen is set to acquire a C$2 million stake in Enduro Metals (ENDR) as part of a private placement
The company intends to raise up to $8 million through the issuance of 24 million units at a price of 25 cents each and around 6.06 million flow-through shares at a price of 33 cents
Pursuant to the offering, Rob has indicated his intention to purchase a total of eight million units
The proceeds will fund exploration and development work at the company's Newmont Lake Project in northwest British Columbia
Enduro Metals (ENDR) is currently up 26 per cent and is trading at 32 cents per share"
More at link
Chico237,All; Chico, The salient point of the 2020 Nebraska Public Radio article, at least to me, is a share price at the time, $0.61 US. Nine monnths later we are in a much better place over $1.00 and I believe with time...a short time we all hope...this ahould rise!
(Off to invest some time in relaxing and staying healthy while I still have summers to enjoy!)
Chico; I think it would be very interesting to know the source of those 3rd party feedstocks!
Are we not still waiting on the results of the NioCorp Roller Mill demonstation? No high confidence its NioCorp REEs, but the timing is interesting. (At the end of the Day, have to say we don't know.)
Douginil,Chico237; Doug thanks to Chico for the article! I was reposting something he posted to the NioCorp board!
Thanks Chico! Zirconium and Hafnium are two of the minerals that Search Minerals found in its mineral core assays. Here is an article that discusses a possible future use for Hafnium.
(Note that this does not translate directly into a market for Search's as yet unmined Hafnium, but it does indicate that new uses besides its traditional use in Nuclear power plants, ceramics, and high heat Rocket nozzels.)
https://www.popsci.com/science/modern-air-conditioning-obsolete/?utm_source=pocket-newtab
Snip...
"Under the guidance of Shanhui Fan, an applied physics and electrical engineering professor at Stanford, and with a small team from the engineering department, Raman developed the material that now forms the basis of SkyCool Systems. (ARPAE helped with a $300,000 grant; later, the agency awarded the team some $2.5 million in additional funding.) In the labs, he had access to a variety of tools: physical vapor deposition machines, used for producing ultrathin multilayered coatings; scanning electron microscopes to determine the thickness of the layers; and a variety of spectrophotometers, which measured the ultraviolet and infrared properties of the substances.
In less than a year, they created a thin film composed of seven microscopic layers atop a sliver of silver. The slices alternated between hafnium oxide, an inorganic compound that acts as an electrical insulator, and silicon dioxide, or silica, a natural material that makes up quartz, sand, and nearly two-thirds of Earth’s crust."
This product works by reflecting infrared radiation back into space. This is a totally passive process that works best in places with few daytime clouds and does NOT require electricity or another power source to function.
It is a new product and company and cant say if it will be accepted.
Info on Hafnium cost.
https://www.earthmagazine.org/article/mineral-resource-month-hafnium
snip...
"Because there are few producers of hafnium, published prices are not available. At the end of 2012, the import value of unwrought hafnium from France, the only other major producer of nuclear-grade hafnium metal outside the U.S., was $542 per kilogram."
Big-Picture: Info regarding Humboldt Shares:
https://www.ci.humboldt.ne.us/
Economic Development:
Humboldt Shares
Humboldt has a personal approach to Economic Development led by the group Humboldt Share, Inc. This group is ready and willing to work with individuals or businesses that are looking at making or increasing their investment in the Humboldt community with the focus on job creation and job retention and stabilizing the economy of the region. Humboldt Shares works with many economic development partners - NPPD, Black Hills Energy, OPPD, Nebraska Department of Economic Development - to be that helpful/personal link if you have questions on what is available here in Humboldt and southeast Nebraska for available sites and buildings, as well as a referral for financing and where to find specific services.
Elk Creek is located about equidistant from Tecumseh and Humboldt, so Humbold would also benefit the mine. (Easy drive to Elk Creek.
Chico; this has probably been posted by KCMoe or someone else, but this is the 1983 UNeb core analysis.
https://snr.unl.edu/data/download/geologysoils/elkcreek/Elk_Creek_Skyline_Data.pdf
If you go down to page 228 they provide the La, Ce, Nd percentages. Perhaps these are the core samples that they are going back to analyze for other REEs.
Just a reminder that one of the UNeb student dissertations regarding Elk Creek Carbonatite was written by someone who was showing Rio Tinto as his employer on his Linkedin account, so if they were interested he would be their go to guy.
I would not be surprised if Mark has recieved indications of interest in purchasing NIOCORP and assets, but he has probably continued to hold out for a mostly debt deal. (If legit offer he would have to put it to a vote of the shareholders.) Won't know until after financing.
Chico237; Chico, I see that LEMIF/LEM has similar dry magnetic separation/processing methods. I note that their PEA for Norra Karr emphasizes marketable byproducts Nepheline syenite and Nb.
No mention of or comparison to NIOBF, but then again Elk Creek is only a Finance Pending Fully Permitted processing facility and mine.
I suspect that Sweden will be very careful about any possible contamination of Lake Vatterne ("The Water") so any mining will be carefully monitored.
Picture of Lake Vatterne ("The Water")
I appreciate your in-depth analysis even in Slow Summertime! I am maintaining my holdings and Hoping for some funding action by Rare Earths!
(Everyone should do their own due diligence before investing in any Stock!)
Jon Bovi; Sounds like it, so yah, pretty Sure!
v
L.M.: Looks like they will be updating the public on where the company stands. Will it include info on the Roller Mills results and possible REE content for byproduct of primary FSA minerals?
TBD.
P.M., Chico237, Douginil, all: Titanium, SR-71 Blackbird.
All the Titanium used in the early SR-71 Blackbird was sourced from the Soviet Union
U.S. sourced titanium, additional reason DoD needs to support this mine as part of their critical supply chain.
(Doug, you probably already knew this info.)
I was interested to learn that aviation frame and powerplant mechanics can't use Chromium plated tools on Titanium.
Putz; Thanks! From your 2nd link.
https://www.renmarkfinancial.com/events/renmark-virtual-non-deal-roadshow-tsx-nb-otcqx-niobf-2021-07-26-120000
snip..."• Strengthen relations. Investors don’t like to be kept in the dark. They want to know how the company has been performing, as this has a direct impact on their investment. An NDR provides reassurance and builds trust.
• Build understanding. It’s important to remember that not all investors understand your company’s practices as well as you do. An informative presentation can fill in any gaps in their understanding. It also gives your team the opportunity to understand why the investor has chosen to own shares in your company, and what they expect to gain from it.
• Establish expectations. Managing investor expectations can be tricky. An NDR gives you the chance to set proper expectations in terms of evaluating your company’s performance.
• Encourage more investment. Existing investors gain a better grasp of the results of owning a larger share of the company. Likewise, new attendees are more likely to invest in the future if they’re fully convinced by the information you provide.
• Hear from the investors. An NDR isn’t a one-way conversation. It’s an invaluable chance to talk to investors and hear their thoughts on your competition, the areas they’re most (and least) interested in regarding your operations, and whether they’d be interested to provide funds for future financing. This information can be used to enhance your investment strategy.
• Improve relationships with others. In addition to building relations with investors, an NDR is the ideal time to boost relationships with sell-side analysts, retail brokers, portfolio experts, fund managers and more."
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Pretty sure they do monitor this and other stockboards and of course, shareholder email.
Chico237; Great article, as always thanks for posting!
It presents a good example of an Educational institution that trains people in skilled trades or engineering to support REE Supply chains. (And in this case provides rapid analysis of coring samples!)
This article discusses the need not just to acquire REEs, but developing and supporting the entire supply chain needed to produce them.
https://federalnewsnetwork.com/defense-main/2021/07/house-task-force-pushes-pentagon-to-wean-itself-of-chinese-sources/
Snip... "The task force is offering a distinct recommendation for rare earth elements, according to the draft, by requiring the Pentagon to work closely with the departments of Energy and Interior on rare earths research and development.
The task force further addresses the decline in manufacturing and associated trade skills, as it warns any work on supply chain resiliency “will falter” without a workforce plan. The task force is recommending a requirement for the Pentagon to set up a “coalition among industry groups representing defense industrial base contractors, education partners, organizations providing workforce training and development, and other federal partners to focus on career development within manufacturing fields and other areas necessary to secure critical supply chains.”
“You can have a very resilient supply chain for stuff, but if you don’t have skilled trades that can actually work and put things together, particularly here, it’s a limiting factor on the supply chain,” Slotkin said.
The group also wants to bring U.S. allies into the fold by raising the stature of the National Technology and Industrial Base (NTIB), according to the draft report. The NTIB includes dual-use research and development activities in the United States, Canada, the United Kingdom and Australia.
The draft includes a recommendation to “emphasize the value of broad collaboration” with NTIB allies, expanding it beyond acquisition to serve as “a test bed for closer international cooperation and supply chain resiliency.” The proposal would also urge DoD to “harmonize” supply chain policies with the NTIB countries."
I look forward to Search Minerals benefiting both from this and Canadian Government initiatives for REE mining, separation, and refining!
Chico237, Thanks!
I know this information has been posted in various articles/liinis.
https://federalnewsnetwork.com/defense-main/2021/07/house-task-force-pushes-pentagon-to-wean-itself-of-chinese-sources/
Snip...
"The task force is also pushing DoD and its prime contractors to move beyond a mindset where officials assume it’s too difficult to map their supply chains due to contractual issues.
“It’s difficult now,” Gallagher said. “You think it’s going to get any easier if we’re scrapping over Taiwan? No, let’s figure it out in peacetime so that we don’t find ourselves on the losing side during wartime.”
The task force is offering a distinct recommendation for rare earth elements, according to the draft, by requiring the Pentagon to work closely with the departments of Energy and Interior on rare earths research and development.
The task force further addresses the decline in manufacturing and associated trade skills, as it warns any work on supply chain resiliency “will falter” without a workforce plan. The task force is recommending a requirement for the Pentagon to set up a “coalition among industry groups representing defense industrial base contractors, education partners, organizations providing workforce training and development, and other federal partners to focus on career development within manufacturing fields and other areas necessary to secure critical supply chains.”
“You can have a very resilient supply chain for stuff, but if you don’t have skilled trades that can actually work and put things together, particularly here, it’s a limiting factor on the supply chain,” Slotkin said.
The group also wants to bring U.S. allies into the fold by raising the stature of the National Technology and Industrial Base (NTIB), according to the draft report. The NTIB includes dual-use research and development activities in the United States, Canada, the United Kingdom and Australia.
The draft includes a recommendation to “emphasize the value of broad collaboration” with NTIB allies, expanding it beyond acquisition to serve as “a test bed for closer international cooperation and supply chain resiliency.” The proposal would also urge DoD to “harmonize” supply chain policies with the NTIB countries.
“What we quickly learned in talking with our allies and talking with industry is that while this concept is a valuable one, and our closest allies welcome it, it hasn’t really amounted to much in practice,” Gallagher said. “So part of what we’re recommending is using the existing NTIB framework, and figure out a way to put some meat on the bones of the NTIB.”
The draft report also includes additional recommendations for DoD and the White House on issues like reforming the Defense Production Act and updating the Committee on Foreign Investment in the United States. The Biden administration has also launched a series of supply chain initiatives in recent months aimed at reducing risks in sectors like critical minerals, semiconductors, high-capacity batteries, and active pharmaceutical ingredients.
“If nothing else, we hope to have begun the discussion with the Pentagon and nudged the Pentagon to move faster, and in a better direction,” Gallagher said."
nowwhat2; Vancouver, BC – Medallion Resources Ltd. (TSX-V: MDL; OTCQB: MLLOF; Frankfurt: MRDN) – “Medallion” or the “Company”), is pleased to announce the signing of a non-binding letter of intent (“LOI”) with Australian private company ACDC Metals Pty Ltd (“ACDC”) to form a partnership to utilize Medallion’s proprietary process to extract rare earth elements from monazite (the “Medallion Monazite Process”) in southeastern Australia.
The Medallion Monazite Process is a proprietary method that enables sustainable extraction of rare earth elements (“REE”) from mineral sand monazite. Monazite is a rare earth phosphate mineral globally available as a by-product from heavy mineral sand mining operations. Medallion recently published the positive findings of a Techno-Economic Assessment (“TEA”) which provides the engineering and economic foundation for commercializing the Medallion Monazite Process. This includes seeking both operational and licencing opportunities with qualified partners in mineral sand monazite rich jurisdictions.
ACDC is securing the right to acquire three historical non JORC/NI43-101 compliant mineral sand resource properties and other exploration assets in Victoria (Australia), to potentially underpin a supply of monazite suitable for the Medallion Monazite Process. ACDC is planning to complete an Initial Public Offering (“IPO”) upon the Australian Stock Exchange (“ASX”) within 12 months.
ACDC Managing Director Mr. Andrew Shearer commented, “ACDC recognizes the potential value add available to shareholders and stakeholders by the extraction of rare earth elements from mineral sand monazite. In partnering with Medallion Resources, we believe we have accessed the right technology at the right time, allowing us to be fast to market as REE prices rise and the market expands. We are excited to play a role to improve supply security and reduce environmental impact of rare earth element production.”
... snip "In compensation, Medallion shall receive a significant allocation of pre-IPO shares of ACDC, transferable rights to contribute funding to ACDC at seed and IPO stages, milestone payments and a royalty on successful operation of the refinery. Medallion will issue additional press releases related to the final legal and commercial structure within the Binding Contract as it becomes available. The Binding Contract is subject to regulatory approval. Investors are cautioned that the LOI is non-binding, and there is no guarantee that the parties will enter into the Binding Contract, or that the transactions contemplated in this press release will be completed."
more at link.
https://medallionresources.com/2021/07/loi-partnership-medallion-monazite-process-se-australia/
ACDC does not have the properties and will need to raise money. Some portion of the IPO e money will be directed to Medallion.
Dutchfree: Hoi! What you said!
Build the mine and have a pint!
(Friday is almost here, I am going to have a pint whether or not they start the mine tomorrow!)
Dutchfree:
"At this stage, I declare William 111... first knight of complainers of the round table!"
Not destined to to sit on Siege Perilous this William fellow?
;)
Chico237, all: Enduro news release re. 2021 drilling program;
https://endurometals.com/enduro-commences-10000-metre-drill-program-at-newmont-lake-project-golden-triangle-nw-british-columbia/
July 21st, 2021, Kelowna, British Columbia – Enduro Metals Corporation (TSXV: ENDR OTCQB: ENDMF FSE: SOG-FF) (“Enduro Metals” or the “Company”) announces that the first diamond drill rig is now drilling on the Newmont Lake property in the heart of BC’s prolific Golden Triangle. A second drill rig will be added in early August. The planned “base case” drill program is 10,000 metres, with potential to expand. Enduro recently upgraded its on-site infrastructure to enable a prolonged exploration season.
The Company is presently conducting its initial drilling at Chachi with several other targets to be drilled this season.
Enduro’s CEO Cole Evans stated: “There are several high-quality untested targets across our large land package providing multiple paths to a major discovery. We are delighted to be back on the ground and drilling again and excited to build on what we have learned over the past three years. We are optimistic that we will see exciting results from this season’s drilling.”
CHACHI CORRIDOR
The Chachi Corridor represents a multi-element system endowed in copper, silver, gold, lead, zinc, nickel, and cobalt which was discovered by Enduro in 2019. This extensive system, spanning more than 5 kilometers, has characteristics of multiple deposit types, including alkalic porphyry, epithermal, skarn and possibly Iron-Oxide Copper Gold (“IOCG”) ore deposits. Intrusions are of the same age as the nearby Galore Creek deposit, which is being advanced by a joint venture between Newmont Corporation and Teck Resources Limited.
This initial drilling will involve 6 holes from 3 separate drill pads, with targets selected based on:
High-grade copper-silver on surface (including rock samples with 5.3% copper/36 g/t silver and 2.7% copper/301 g/t silver).
Induced polarization (“IP”) geophysics chargeability responses.
Proximity to a regional structural feature; and
Widespread alteration.
The holes are intended to track the high-grade values from surface and will provide the first sub-surface information in the Chachi Central Zone (CCZ).
Chico: Thanks for your excellent explanation of the history and present state of NioCorp's situation regarding REEs in their product portfolio!
Chico; IIRC The original resource estimate was handled by SRK. I do not think that Nordmine was involved in estimating the resource.
I think that SRK assembled the original mine plan, which included piping Sump/seep water to the Missouri River. As I recollect at some point Nordmine took the earlier plan incorporated ground freezing, no piping, and created a reworked mining plan.
SRK's original Estimates were based on Nb, Ti, and Sc. It did not include REEs.
From:
https://www.srk.com/en/projects/elk-creek-mine-mineral-resources
Snip...
"As part of a coordinated program, we have provided the geologic, geotechnical, and groundwater information needed to support the project’s development. The deposit contains niobium (Nb), titanium dioxide (Ti), and scandium (Sc).
Resource Estimation
In February 2015, we developed an initial resource estimate as the foundation for a preliminary economic analysis. This resource estimate also used historic drilling and other data from 2011 and 2014. PEAs were completed in May and September of 2015. Another drilling program consisting of five more holes began in 2015 and provided additional geotechnical and hydrogeological information. During this program, we conducted further assay and resource evaluation confirmation work. The 2017 feasibility study (FS) was based on the updated resource estimate as well as data from the 2015 drill holes and the re-assay of historical pulps."
Now Scott has a Degree in Mine Engineering and mineral processing, but I would not be surprised if he brought someone in from the outside to do the REE estimate, or at least assist in estimating the REE resource.
Douginil,Kaseymo, Chico; I suspect that there are a number of core samples taken by MolyCorp and previously by University of Nebraska Geology acting, I assume, on behalf of the state of Nebraska.
I would assume that they have the Molycorp samples somewhere and are working to access the NE samples?
(I think that this was one of several links posted by KaseyMo??)
http://www.geojournals.cn/dzxben/ch/reader/create_pdf.aspx?file_no=2014ens207025&year_id=2014&quarter_id=Z2&falg=1
Snip..."In 1970, a geophysical anomaly associated with the
carbonatite was identified, and the following year the
carbonatite was discovered when drilled by the state of
Nebraska. Between 1973 and 1986, Molycorp undertook
an extensive exploration program at the site, including
over 100 drill holes that amassed ~46,800 m of core. Our
study utilizes a subset of the archived Molycorp drill cores
to evaluate REE enrichment in carbonatites. Molycorp
geologists divided the carbonatite into three primary
lithologies: apatite beforsite, barite beforsite, and
magnetite beforsite; beforsite is a dolomite-rich
carbonatite. Brecciated carbonatite is also present in some
of the cores, and much of the carbonatite was overprinted
by various fluids. Zones of ferruginous alteration resemble
“rodbergite” as described at the Fen complex, Norway."...snip
"We greatly appreciate
the effort of Matt Joeckel, University of Nebraska-School
of Natural Resources, for providing access to the archived
core and to Tony Mariano for lively discussions of
carbonatite petrology."
Now, I ran across this in my search:
"Michael Blessington - Geologist - Rio Tinto | LinkedIn
[Search domain linkedin.com] https://www.linkedin.com/in/mblessington
University of Nebraska-Lincoln. ... - Logged new cores drilled from the Elk Creek Carbonatite using CAE Fusion software. ... Nebraska Geological Society Member."
I know of any direct link between RioTino (Scandium mining) and NiCorp, so I would file this as just an interesting little piece of info.
AO. The Roller mill update:
Your: "Its been more than several weeks since they started testing. Not sure why it is taking longer than expected. Hopefully, something positive to report will come soon. Anticipation......."
Links to those articles/news releases.
https://www.niocorp.com/niocorp-initiates-high-pressure-grinding-roll-testing-of-its-elk-creek-ore/
CENTENNIAL, Colo. (June 9, 2021) – NioCorp Developments Ltd. (“NioCorp” or the “Company“) (TSX:NB) (OTCQX:NIOBF) is pleased to announce the initiation of testing of Elk Creek Project (“Project”) ore using High-Pressure Grinding Rolls (“HPGR”) technology. HPGR technology is an energy efficient and low-emission alternative for reducing the size of the ore to enable the recovery of niobium, scandium, titanium, and potential rare earth products. The use of HPGR in the Project reinforces the Company’s commitment to the environment and designing a sustainable operation.
And
https://im-mining.com/tag/high-pressure-grinding-rolls/
Snip ..."Working with Weir Minerals, NRRI acquired an industrial-scale Enduron® HPGR to carry out testing on a variety of ores with this process back in 2020. This is the only large scale HPGR dedicated to research in the US, NRRI claims." ...snip...
"Scott Honan, NioCorp COO, said: “After witnessing testing at NRRI, I was impressed with how the HPGR was able to handle the Elk Creek ore quickly and efficiently, with minimal noise and dust.
“We look forward to completing this phase of the test work and moving on to look at further improvements to the existing flowsheet, including our new emphasis around the rare earths.”
I don't know that we will get much news on this until they do several test runs of the separation and processing to see how they work. Who knows when that will be.
NCT; Nah, he has Jim Sims and his associates to respond to his emails.
If they are just waiting for the lawyers on both sides to get all the paperwork assembled and in good order for immanent financing why not?
M.S. is not the only corporate officer that does this sort of thing (maintain contacts and sit on boards and advisory panels within the industry.)
Still, it doesn't sit well when you are a long term shareholder who has been assured that financing is about to happen and ground breaking and equiptment on site will happen in spring of 2018, 2019, etc. and the CEO of the company is not spending his time in increasing your stocks value. Yes, there a bit of resentment building.
Not a question with an immediate answer. (When is the annual shareholder meeting?? November? Got proxy? )
(Humm. Will ICT Alloys be involved in Scandium, Niobium,or Titanium fabrication??)
A mark Smith Sighting.
https://www.metalcenternews.com/editorial/metal-industry-news/ibc-advanced-alloys-expanding-in-indiana/44396
IBC Advanced Alloys Expanding in Indiana
By Metal Center News Staff on Jul 19, 2021
U.S. Congressman Trey Hollingworth (R-Ind.) recently toured the ongoing expansion of IBC Advanced Alloys copper plant in Franklin, Ind.
IBC is progressing on a $5.5 million, 32,000-square-foot expansion of the Franklin plant. The project will allow the company to consolidate current copper foundry operations in Franklin from a plant in Pennsylvania. The expansion/consolidation project is expected to expand IBC’s manufacturing capabilities as well as generate significant fixed cost savings, executives said.
“The modernization and consolidation project is proceeding well, and we are very grateful for Congressman Hollingsworth’s continuing interest in and support of IBC’s operations,” said Mark A. Smith, CEO and chairman of IBC. “This project will help power a new era of growth and opportunity for IBC’s copper alloys division, and I am excited about the prospects for greater efficiencies, cost savings, and enhanced sales that this project should enable.”
P.M. Yr. post 72171 discusses I think.
USA Rare Earths invested in and also has an interest in SHCMF. (See Chico's posts on that board.)
USARareEarth.com website. no info on officers or board on this site.
There might be info somewhere else.
(Off to work in the garden!)
Douginil; Good to have NB/SC as primary target minerals at ElkCreek!
I think that the Admin has a preference for REE extraction from used coal fly ash so I am not certain we should look for US Gov. assistance on REES, (Not supportive of NIOBF unfortunately.) although possibly still for SC and NB as strategic metals.
article regarding ionic extraction of REEs from coal fly ash.
https://ce.gatech.edu/news/reusable-ionic-liquid-enables-extraction-precious-rareearth-elements-coal-fly-ash
Purdue also has a patent for something along the same lines.
(Interestingly the lead research here was Taiwan educated so not sure if there is a direct CCP/China link.)
P.M.; Putz; I know that when USA Rare Earths purchased "units" in Search Minerals it was announced. They are, or were considering going public last February; (I think these have been posted to the board before.)
https://www.mining.com/usa-rare-earth-hopes-to-raise-up-to-500m-in-ipo/
USA Rare Earth, a private company with ambitious plans for a domestic rare earths supply chain has hired bankers to explore going public in a deal that could value the strategic minerals company at more than $1 billion, according to a source familiar with the matter and documents seen by Reuters.
http://searchminerals.ca/news/news-releases/usa-rare-earth-participates-in-search-minerals-private-placement-with-strategic-investment-of-cad630-000-cdn
No, I do not think you suggested USA RE as source of possible NIOBF funding.
You did suggest that TechMet with M.S. contacts as an intertesting partner/source possibility. (I wonder given the chaos in S.A. and Chinese insertion in African resource chains whether Elk Creek is looking more attractive to Techmet managment now?)
https://www.techmet.ie/
Douginil,Chico237,all; USA RARE EARTHS /SRCH Previous News Release
http://searchminerals.ca/news/news-releases/usa-rare-earth-participates-in-search-minerals-private-placement-with-strategic-investment-of-cad630-000-cdn
...snip "On November 10, 2020 Search and USA Rare Earth, jointly announced a Technical Collaboration Framework Agreement whereby the two companies would work on several initiatives. USA Rare Earth is the funding and development partner of the Round Top Heavy Rare Earth, Lithium and Critical Minerals Project in Hudspeth County, West Texas, together with Texas Mineral Resources Corp. (OTCQB: TMRC)As part of Search’s and USA Rare Earth’s development plans, the companies intend to expand the collaboration to include discussions regarding separation, marketing and off-take of Search’s future production.These discussions are in line with Search’s ambition to be an important contributor to the development of a North American Critical Material supply chain and USA Rare Earth’s strategy of Mine-to-Magnet processing."
More at link!
MasterSalix; That would be a good question for Mark Saxon!
https://medallionresources.com/