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Chico. Article on Perovskite, Calcium Titanium Oxide. Possible uses as Photovoltaic generating material. Wouldn't it be nice to see new use like this for titanium! Posting tonight or I will forget it in the morning!
https://getpocket.com/explore/item/meet-perovskite-the-mystery-mineral-that-could-transform-our-solar-energy-future
snip....What in the world is perovskite? The term “ perovskite” refers to two substances: a calcium titanium oxide mineral composed of calcium titanate, and also the class of compounds that share the mineral’s unique crystal structure. The perovskites that hold such promising photovoltaic (PV), or solar energy-generating, properties are a group of human-made versions discovered in 2009 by Japanese scientist Tsutomu Miyasaka and colleagues. (Miyasaka was talked about in 2018 as a potential Nobel Prize recipient.) “These perovskites can absorb sunlight better than silicon,” says Stranks. “We can absorb almost all of the sunlight with a perovskite film that is at least a hundred times thinner than silicon.”
Thanks Walter! Good to know!
Facility and Land Purchase as reported on DMEHF website.
November 29, 2022 DMEF News
DESERT MOUNTAIN ENERGY ACQUIRES ADDITIONAL LAND ALONG WITH AN UPDATE ON THE McCAULEY HELIUM PROCESSING FACILITY
BY Canada NewsWire
— 9:45 AM ET 11/29/2022
TSX.V: DME
U.S. OTC: DMEHF
Frankfurt: QM01
VANCOUVER, BC, Nov. 29, 2022 /CNW/ - DESERT MOUNTAIN ENERGY CORP. (DMEHF) (the "Company") (TSXV: DME) (OTC: DMEHF) From the President of the Company.
The Company is pleased to announce that it has acquired 40 acres of land for its South Winslow prospect. This land not only provides property to place initial processing equipment but more importantly, provides surface and Right of Way access to multiple, land-locked, state properties that the company wishes to develop.
In preparation for the McCauley Helium Processing Facility delivery to Arizona, GENERON, the Company's plant build contractor, is completing final testing and they will begin the breakdown of the modular building interconnects. Currently, it is anticipated to have all components on site between December 13-16, 2022. The Company will be using cranes to lift off and set all modular and accumulation tanks. Site assembly will begin upon arrival of the McCauley Helium Processing Facility.
In addition, Robert Rohlfing, CEO and Executive Chairman of DME was invited by the New York Stock Exchange (NYSE) and Freedom Capital Markets to attend the ringing of the opening bell on November 29, 2022. For more information or to watch the event live, visit www.nyse.com/bell.
Scooter; I see Seven firms out of 84 that have sold their warrants, but 10 that have increased their warrant holding. I think by this point the GXII institutional holders would know if they wanted in on this deal and would have unloaded their Warrants at a much higher price than their purchase price. I do not see investment companies passing up an opportunity for shares in a very important commodity area. I think that NioCorp will realize most of the funding from the SPAC Investors.
[url]https://fintel.io/so/us/gxii
[/url][tag]GXIIW warrants [/tag]
P.M. Eh Canada! Mines and Stock markets and occasionally Earthquakes. A little one in Alberta.
M 5.3 - 46 km ESE of Peace River, Canada
(27 Degrees F. here right now. KC MO. Clouds, no snow. I think you are just about straight north of me. )
Lets hope this SPAC shakes things up in a positive way!
Chico; Thanks Buddy! The Development Timeline from Searchmineral's website.
Search intends to begin mining in 2025, about the same time as NioCorp. Their target minerals are REES, but possibly Zirconium and Hafnium as well. Search will be surface mining so initial development costs will be lower than Niocorp. Investors who can hold long term and are comfortable with risks associated with a mining stock might find this a good time to acquire shares at the current low price! (Think of all the people who bought NIOBF at $0.12/shr now!)
Everyone should evaluate their situation and the company and do their own due diligence before investing!
https://searchminerals.ca/investors/why-invest-in-search/
**Chico I still have shares in Search, but my major holding remains NioCorp.
I liked Enduro Metals and still do, but it is an exploration company with no income in the foreseeable future. (like the other two stocks!) I wanted a stock in or closer to production so sold ENDMF and purchased DMEHF, which has existing helium wells and and is assembling their extraction facility and expect to be selling their helium early next year. (They also have a joint operating agreement with Beam Earth Ltd. for hydrogen that was discovered in their shallow wells.)
Chico: " 25% of Niobium production "
I might not be recalling this correctly, but I think that Mark indicated that they may not want to place that last % under contract and see if they are able to realize a higher price in the marketplace.
DM: I am glad you think so! We have a good group of people on this MB that have technical experience that have been saying and confirming this!
We have some good reports from people that went to the meeting. I look forward to seeing something on the Demo plant! (At least as much as they can reasonably disclose!) That they along with a few others will retain IP rights was a good point that we learned.
I know that people still have questions but I am at a point where I trust management to get this done and can spend less time worrying about it and can try to enjoy the holidays.
Correction last; Should be Beam Earth, not Beamer.
DESERT MOUNTAIN ENERGY CORP. UPDATE ON THE McCAULEY HELIUM PROCESSING FACILITY
New YouTube video. Approx 32 min.
Robert Rohlfing, CEO of Desert Mountain Energy Corp., discusses the Company’s latest press release with Andrew O’Donnell, the host of Market Mindset. In this informative interview they discuss:
Assembly and delivery of the McCauley Helium Processing Facility
What caused delays
Testing
The path to production
CEO Robert Rolfing discusses the fabrication of their processing modules. Talks about steps and safety features used their new processing plant which is expected to lower Helium extraction costs.
They have built in testing systems to determine different elements they encounter during separation.
Mentions one well with a higher amounts of Noble gasses. Possible future market for CO2, but is avoiding wells with a higher CO2 content for now.
He expects the plant to run with one operater and to be able to monitor and make adjustments remotely from his home.
Expects Generon module testing to start on 11-18 and hope for completion around 11-29.
Expects 2 rounds of testing before they ship to the AZ Facility then hookup.
Will not commission between Christmas and New years.
Once testing starts they will begin collecting helium in a tank (Intially balloon grade) Will start making money from the point of comissioning. (Not much initially until every thing tuned up.)
Discusses how they will begin selling helium in a way that will be most beneficial to shareholders.
Discusses deal with Beamer. Turns Hydrogen into ammonia and then ships.
Discusses their Hydrogen drilling discovery.
Is not looking to raise any cash at the moment. No maybe I should. close to going into production and cash flow. But Better not to wait until you need, it.
Info on Gunnar Dome coming out prob by end of the month. Cant say at this time exactly how much they will produce.
They approached by Viewpoint (Dennis Quaid) regarding a small segment that will be coming out soon. Paid very little for it. Will be on PBS in the US.
More info in video.
(If you go to the Youtube click on the ... under the video and get the transcript)
Invested and holding. (LT choice for your tax free retirement account/Roth IRA) Also hold a mining stock that is close to being financed, but they do not anticipate to be producing until 2026. so I want to have something that has potential for growth and dividends within the next year.
Boilermaker, NEGoodlife, OI. Thanks for sharing management's comments with us! I think they are very helpful. Production in 2026....If I am not happy, my children should be!
NE Gdlf; Should have read forward! you found it.
NEGoodlife; Douginil; They created a Scandium alloy:
https://www.niocorp.com/niocorp-announces-success-in-producing-aluminum-scandium-master-alloy/
CENTENNIAL, Colo. (August 7, 2019) –" NioCorp Developments Ltd. (“NioCorp” or the “Company”) (TSX: NB; OTCQX: NIOBF) is pleased to announce the successful production of an Aluminum-Scandium (“AlSc”) master alloy using a metallurgical process that helps to prove out a commercial pathway to potential production of the master alloy.
AlSc master alloy was produced at Ames Laboratory’s Materials Preparation Center, located in Ames, Iowa, under the supervision of NioCorp engineers and employing an improved production methodology specified by Tactical Alloys, a firm with over 20 years of experience in the AlSc alloy space. Ames Laboratory is a U.S. Department of Energy national laboratory recognized as a world leader in the research and development of rare earth and rare metal materials, such as scandium. NioCorp commercially purchased the scandium used to create the master alloy at Ames Laboratory’s Materials Preparation Center."
more at link.
(Doug, I think you are the Metallurgist on this MB!)
Wagner: This took place on your backdoor and your concerns are absolutely reasonable.
One day you are going about your life then someone presses the wrong button and suddenly a bunch of tanks are pouring through the Fulda Gap. Thankfully we dodged a bullet.
PM It could also be an Academic or maybe the Canadian Govt.
Wagner; Determined to be Ukrainian AA missiles not Russian.
https://www.huffpost.com/entry/bc-eu-russia-ukraine-war_n_6374e1b5e4b0283a8d16c1c4
https://www.msn.com/en-gb/news/world/russia-ukraine-war-live-missile-strike-in-poland-likely-an-accident-by-ukraine-air-defence-says-warsaw/ar-AA149FAf
Chico; Thanks! I emailed Jim S. About this and the status of the kilns and extraction equiptment but no reply, so this is good to know! A big check mark!
"We hold the rights to any intellectual property developed and related to the Elk Creek process by virtue of our contractual relationships with L3 and other entities involved in the work. While our focus remains on using proven commercial technologies in the public domain, we will act to protect the parts of our process that may be novel."
Maybe that these processes will allow them to accept and process raw material of a similar composition at some point, or to license the technology and develop a stream of royalty income.
DM I don't remember $6 but I accept your recollection and am sure at some point he did, probably before Covid and Russia and the Ukraine getting in discussions with a SPAC. Two years ago I said we would be $1.90 US next year and was of course wrong. Reality is always interfering with intentions and expectations and Corporations are always having to modify their plans in the face of economic change. As suspected on this MB he had some firm that provided him with an intention to finance that was withdrawn after Covid startup and and the Biden election. ( Did the company you work for have to modify their objectives in this period???)
At this point M.S. has engineered this SPAC merge and submitted it to NIOCORP s/hs. As always the bank or group with the money will provide $$$ on terms that are favorable to them. The value for existing SHs is that the mine and processing facility FINALLY get built and our shares go along for the ride to production. There is a time value to $s, and the downside of wanting a possibly "better" finance deal means a further period where the earnings or growth of your capital are zilch.... I will take a middling to good deal and the sooner built mine over a perfect deal 3 years from now and a mine built in 7 or 8 years.
You have a vote in the upcoming meeting and can vote your can vote your shares No if you want. At the end of the day If you stay a shareholder emailing the company or voting shares are about the only leverage you have with managment. (Well, maybe a lawsuit if you have deep pockets.)
Once I incautiously suggested to someone else on the board selling and moving to another investment which was not well received so I will NOT suggest anything beyond the above.
(I remember that you currently hold I think TMRC? I hesitate to mention DMEHF, another Commodity mining company that is further along than NIOBF that is about to begin extraction/separation and producing their target product, Helium. Yes, I have some shares. )
At this point I will wait a short time (2-3 months) to see what happens with the NIOBF/SPAC merger R/S, and up listing NASDQ.
(GLTA to you and to everyone on the board!)
DM; "Nothing particularly remarkable will happen until 1Q and the merger approval."
A lot of company share prices rise at year end and I would expect some for NIOBF.
There might be some movement with the Results of the REE extraction. Around the annual meeting? As others have noted Mngmnt need to provide an updated FS within 45 days so maybe in Q1. Maybe some then.
Until we up list to NASDQ we will probably be mostly a penny stock party selling shares back and forth to each other in this shareholder group.
Theroc66; We are simply Marking Time waiting for the parade to move forward. I agree. Nothing particularly remarkable will happen until 1Q and the merger approval. (I think that will happen.) Accumulate if you can.
"I think it would be most beneficial to all of us, regarding the future share price of the post-merger venture, to stack as many as possible of the share price moving events, in the post-merger, R.S. and Nasdaq-uplist era, in order to get the most bang for our bucks! "
R & H and PM; Warrant in circulation. Thats actually a good question.
How many GXII or GXIIU SHs have sold the warrants that came with their shares. It might provide something of a read on whether they want to wait for Niocorp shares.
I don't think there is any easy way to tell considering that some of the warrants circulating on the TSX and OTC may have been sold multiple times already. (I do not think they sell warrants on the Frankfurt exchange?)
Research and hope; From the S-4 filing. Here is the answer to the number of outstanding Warrents:
"In addition, there currently are 15,666,667 GX Warrants issued and outstanding, consisting of 10,000,000 GX Public Warrants and 5,666,667 GX Founder Warrants. Each whole GX Warrant entitles the holder thereof to purchase one GX Class A Share at a price of $11.50 per share."
I am posting this section for reference for others that might have questions.
https://www.sec.gov/Archives/edgar/data/1512228/000153949722001757/n2574-x57_s4.htm#b_036 page 81
NIOCORP PROPOSAL NO. 1 — THE SHARE ISSUANCE PROPOSAL
NioCorp has proposed an ordinary resolution to approve the issuance of up to 594,558,645 NioCorp Common Shares representing 213% of NioCorp’s total outstanding Common Shares, prior to the Transactions, on a non-diluted basis, in connection with the Transactions.
As of ??????????????????????, 2022 there are 30,000,000 GX Class A Shares issued and outstanding and 7,500,000 GX Founder Shares outstanding. In addition, there currently are 15,666,667 GX Warrants issued and outstanding, consisting of 10,000,000 GX Public Warrants and 5,666,667 GX Founder Warrants. Each whole GX Warrant entitles the holder thereof to purchase one GX Class A Share at a price of $11.50 per share. As of the date of Closing, GX expects that [?] and [?] GX Class A Shares will have been issued to Cantor and BTIG, respectively, in partial consideration for their services in connection with the Transactions (the “Advisor Share Issuances”).
Upon consummation of the First Merger, each GX Class A Share that is held by a GX Public Stockholder shall be converted into a First Merger Class A Share. In connection with the Exchange, NioCorp will exercise its unilateral option to purchase each First Merger Class A Share in exchange for 11.1829212 NioCorp Common Shares. As a result NioCorp will issue an aggregate of up to 335,487,636 Common Shares to purchase up to 335,487,636 First Merger Class A Shares (assuming no redemptions by GX Stockholders).
Upon consummation of the First Merger, each Class B share in GX (other than certain shares that may be forfeited in accordance with the GX Support Agreement) will be converted into one share of Class B common stock in GX (such shares, the “First Merger Class B Shares”), as the surviving company in the First Merger. Upon consummation of the Second Merger, each of the First Merger Class B Shares will be converted into 11.1829212 Class B common shares of GX (each, a “Second Merger Class B Share”), as the surviving company in the Second Merger. Each Second Merger Class B Share will be exchangeable into NioCorp Common Shares on a one-for-one basis, subject to certain equitable adjustments, in accordance with the terms of the Exchange Agreement. As a result, NioCorp may issue up to an aggregate of 83,871,907 Common Shares upon exchange of up to an aggregate of 83,871,907 Second Merger Class B Shares.
In connection with the First Merger and the assumption by NioCorp of the GX Warrant Agreement, each GX Warrant that is issued and outstanding immediately prior to the Exchange Time shall be converted into one NioCorp Warrant pursuant to the GX Warrant Agreement. Each NioCorp Warrant shall be exercisable solely for NioCorp Common Shares, and the number of NioCorp Common Shares subject to each NioCorp Warrant shall be equal to the number of shares of GX common stock subject to the applicable GX Warrant multiplied by 11.1829212, with the applicable exercise price adjusted accordingly. As a result NioCorp may issue up to an aggregate of 175,199,102 Common Shares upon exercise of an aggregate of 15,666,667 NioCorp Assumed Warrants.
Together with the 335,487,636 NioCorp Common Shares issuable to the holders of GX Class A Shares, including the Advisor Share Issuances, the 83,871,907 NioCorp Common Shares issuable upon exchange of the Second Merger Class B Shares and the 175,199,102 NioCorp Common Shares issuable upon exercise of the NioCorp Assumed Warrants, up to an aggregate of 594,558,645 NioCorp Common Shares may be issuable in connection with the Transactions representing 213% of NioCorp’s total outstanding Common Shares, prior to the Transactions, on a non-diluted basis.
As such, NioCorp has proposed an ordinary resolution to approve the issuance of up to 594,558,645 NioCorp Common Shares to GX Securityholders in connection with the transactions contemplated under the Business Combination Agreement, a copy of which is attached as Annex A hereto, dated as of September 25, 2022, by and among NioCorp, GX and Merger Sub.
Pursuant to the Section 611(c) of the TSX Company Manual, the Share Issuance Proposal requires the approval of a simple majority of the votes cast by NioCorp Shareholders present in person or represented by proxy at the NioCorp Shareholder Meeting, because the number of NioCorp Common Shares being issued or that are issuable under the Transactions may exceed 25% of the number of NioCorp Common Shares which are currently outstanding. Accordingly, to be effective, the Share Issuance Proposal must be approved, with or without variation, by the affirmative vote of a majority of the votes cast by NioCorp Shareholders present in person or represented by proxy and entitled to vote at the NioCorp Shareholder Meeting. The TSX will generally not require further security holder approval for the issuance of up to an additional 69,771,470 NioCorp Common Shares, such number being 25% of the number of NioCorp Common Shares to be approved by NioCorp Shareholders pursuant to the Transactions.
DESERT MOUNTAIN ENERGY CORP. UPDATE ON THE McCAULEY HELIUM PROCESSING FACILITY
BY PR Newswire
— 3:00 AM ET 11/11/2022
TSX.V: DME
U.S. OTC: DMEHF
Frankfurt: QM01
VANCOUVER, BC, Nov. 11, 2022 /PRNewswire/ - DESERT MOUNTAIN ENERGY CORP. (DMEHF) (the "Company") (TSXV: DME) (OTC: DMEHF) From the President of the Company, November 11, 2022 - The Company is pleased to announce its plant build contractor, GENERON, is completing assembly and will begin testing of the plant by 11/18/2022. It is expected that the testing of all modular units will be completed by 11/29/2022. Once testing is completed, any issues which may arise during testing will be addressed before the final runup test prior to shipping.
The infrastructure for the McCauley Helium Processing Facility is completed and awaiting delivery of the four modular housing units containing all the components necessary to finish helium to end-user specifications. Site preparation included fencing, road work, gravel foundation, flow line trenching and installation. The plant will initially use natural gas generators to power the unit. DME has taken delivery of the solar panels; battery storage will be delivered in the new year.
"This is a major milestone in the evolution of DME," says Robert Rohlfing, CEO of Desert Mountain Energy Corp. (DMEHF) "This plant is the first of several that we plan to commission over the next few years. The commissioning of this plant is the culmination of years of research and development, resulting in a vertically integrated primary producer of helium servicing Arizona end-users."
The Company has tested additional zones in the Gunnar Dome well with flow sampling of gas and it is expected to have those results by the end of November. The rig was released.
ABOUT DESERT MOUNTAIN ENERGY (DMEHF)
Desert Mountain Energy Corp. (DMEHF) is a publicly traded resource company primarily focused on exploration, development and production of helium, hydrogen and noble gases. The Company is primarily looking for elements deemed critical to the renewable energy and high technology industries.
We seek safe harbor
"Robert Rohlfing"
Robert Rohlfing
Exec Chairman & CEO
Tommy; I have to read it multiple times before I think I understand it. They do indicate "May", rather than When, but yes, they can call once it meets the outlined conditions:
-----------------------------------------------------------------------------------
From post 86213
"Once the warrants become exercisable, the Company may call the warrants for redemption (except as described with respect to the Private Placement Warrants):
-- in whole and not in part;
-- at a price of $0.01 per warrant;
-- upon not less than 30 days’ prior written notice of redemption to each warrant holder; and
if, and only if, the reported last sale price of the Class A common stock equals or exceeds $18.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within a 30-trading day period commencing once the warrants become exercisable and ending three business days before the Company sends to the notice of redemption to the warrant holders."
------------------------------------------------------------------------------------------------
Comment: (I think you already know most of this.)
Warrants benefit a company by raising cash in exchange for issuing shares to the warrant holders in this case at the exercise price. ($10.80 IIRC).
It does not benefit the company for the warrant to sit around un- exercised for 5 years which is why the call feature language is in there. If they need to raise cash after 2 years and the share price meets the conditions above, they can "Call" the warrants and in this case, raise $10.80 for 15 million warrants for a total of $162,000,000.
The warrant holders are protected in the sense that they do not have to come up with the cash to exercise the warrant and purchase the shares, its done as a cashless warrant exercise, at which time sufficient shares are sold to cover the $10.80 share cost and the shareholder receives the remaining unsold shares in their account.
Does it limit upside? Maybe depending on when it is called when the price is around $18/share and you exercise you do get approximately $7.00 per share return for your $0.40 warrant investment. If you don't exercise once called then it sounds you will only get $0.01 from the company.
They could wait for a higher S/P before calling, or, if needed, call as soon as the conditions are met.
(I did not work through NEGoodlife's example)
Chico; We are so sorry to learn your father passed!
Almighty God, May light perpetual shine upon Chico's father! May he enter into the peace of the Saints where there is joy, and sorrow is no more! Prayers for the comfort of his children and family. (Amen!)
VANCOUVER, British Columbia, Nov. 07, 2022 (GLOBE NEWSWIRE) -- Search Minerals Inc. (TSXV: SMY | OTCQB: SHCMF) (“ Search ” or the“ Company ”) is pleased to announce the commencement of an initial 2,000m FOX MEADOW Phase 1 drill program . FOX MEADOW is the third major drill target in the Port Hope Simpson – St. Lewis Critical Rare Earth Elements (CREE) District in SE Labrador. The drill program is expected to commence shortly, as our drilling contractor mobilizes on site this week. The drilling is expected to be completed in early December, 2022.
FOX MEADOW DRILL PROGRAM
Exploration:
Approximately 8-12 oriented diamond drill holes;
One drill rig to be mobilized from St. Lewis to FOX MEADOW ;
All core will be lithologically, structurally and geotechnically logged;
All mineralized intervals will be sampled for assay and tested for specific gravity and magnetic susceptibility.
Drilling Program Results:
We anticipate receiving all assay results by late spring 2023.
Drill Targets:
Extensive channel programs from 2013 to 2021 (see Search Minerals News Release May 5, 2022) have outlined numerous medium- to high-grade REE mineralized zones;
The current program will target high-grade zones in the core of the known surface extent of the mineralization in order to trace them at depth;
The drill program is also designed to evaluate the overall thickness of the mineralized belt;
An on-going channeling program at FOX MEADOW is extending the mineralized zone to the south and southeast in anticipation of future drill programs;
On surface the mineralization is presently open to the NW, the SE and to the SW in some sections.
Dr. Randy Miller, Vice-President, Exploration comments:“The surface extent of the FOX MEADOW mineralized zone is larger than both DEEP FOX and FOXTROT (both 350-450m strike length and up to 40m thick). We anticipate needing additional channel programs and a much larger drill program in the future to fully explore the entire FOX MEADOW mineralized zone at depth and along strike.”
Greg Andrews, President/CEO states:“We are excited to mobilize to our FOX MEADOW prospect for an initial 2,000m drill program. This program will allow a first chance to generate preliminary down hole data as an extension of our channel sample program on surface. The growth drivers for the rare earth market remains the rare earth (permanent) magnets used in electric motors for electric vehicles and generators in wind turbines. Search Minerals will continue to seek strategic partners to advance our prospects in our extensive rare earth element land position. We believe a secure and sustainable rare earth element supply chain can be built in Newfoundland and Labrador, a very mining friendly and innovative technology based jurisdiction.”
The FOX MEADOW project occurs approximately 11 km west of Port Hope Simpson and 1 km from a gravel-covered, three-season forest access road. Port Hope Simpson is approximately 40 km northwest of FOXTROT and 50 km from DEEP FOX on paved and all-season gravelled roads.
Qualified Person:
Dr. Randy Miller, Ph.D., P.Geo., is the Company's Vice President, Exploration, 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 data.
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. Search controls two deposits (Foxtrot and Deep Fox), two drill ready prospects (Fox Meadow and Silver Fox) and numerous other REE prospects, including Fox Valley, Foxy Lady and Awesome Fox, along a 64 km long belt forming a REE District in Labrador. Search has completed a preliminary economic assessment report for DEEPFOX and FOXTROT. 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 Hydrometallurgy Direct Extraction Process technology with the support from the Department of Industry, Energy and 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.
Search Minerals was selected to participate in the Government of Canada Accelerated Growth Service (“ AGS ”) initiative, which supports high growth companies. AGS, as a 'one-stop shop' model, provides Search with coordinated access to Government of Canada resources as Search continues to move quickly to production and contribute to the establishment of a stable and secure rare earth element North American and European supply chain.
For further information, please contact:
Greg Andrews
President and CEO
Tel: 604-998-3432
E-mail:
NEGoodlife; It absolutely is. Reading securites registration statements...Good Bedtime Reading! :)
It provided answers to Questions on warrants that I wondered about.
(I only purchased 2000 at $.20 US but looking at the $0.61 price today wish I had more!)
E-41 all:
https://www.sec.gov/Archives/edgar/data/1512228/000153949722001757/n2574-x57_s4.htm#b_036
PAGE 195 describes How To exercise the warrants.
PAGE 193 in S-4 filing Describes the Expiration date
"The NioCorp Assumed Warrants will expire five years after the Closing Date, at 5:00 p.m., New York City time, or earlier upon redemption or liquidation."
This is IF the merger occurs and SP Exceeds Strike price, then you need to exercise before 1Q 2028.
PAGE 195 Gives the Company the right to Call the warrants and the terms that must be met before they can do this:
NOTE 7. CLASS A COMMON STOCK SUBJECT TO POSSIBLE REDEMPTION
Section 9
"Once the warrants become exercisable, the Company may call the warrants for redemption (except as described with respect to the Private Placement Warrants):
? in whole and not in part;
? at a price of $0.01 per warrant;
? upon not less than 30 days’ prior written notice of redemption to each warrant holder; and
? if, and only if, the reported last sale price of the Class A common stock equals or exceeds $18.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within a 30-trading day period commencing once the warrants become exercisable and ending three business days before the Company sends to the notice of redemption to the warrant holders.
If and when the warrants become redeemable by the Company, the Company may exercise its redemption right even if the Company is unable to register or qualify the underlying securities for sale under all applicable state securities laws.
If the Company calls the public warrants for redemption, as described above, its management will have the option to require any holder that wishes to exercise the public warrants to do so on a “cashless basis,” as described in the warrant agreement. The exercise price and number of Class A common stock issuable upon exercise of the public warrants may be adjusted in certain circumstances including in the event of a share dividend, extraordinary dividend or recapitalization, reorganization, merger or consolidation. However, except as described below, the public warrants will not be adjusted for issuances of Class A common stock at a price below its exercise price. Additionally, in no event will the Company be required to net cash settle the Public Warrants. If the Company is unable to complete a Business Combination within the Combination Period and the Company liquidates the funds held in the Trust Account, holders of public warrants will not receive any of such funds with respect to their Public Warrants, nor will they receive any distribution from the Company’s assets held outside of the Trust Account with respect to such Public Warrants. Accordingly, the public warrants may expire worthless.
In addition,insert-text-here (with such issue price or effective issue price to be determined in good faith by the Company’s board of directors and, in the case of any such issuance to the Sponsor or its affiliates, without taking into account any Founder Shares held by the Sponsor or such affiliates, as applicable, prior to such issuance) (the “Newly Issued Price”), (y) the aggregate gross proceeds from such issuances represent more than 60% of the total equity proceeds, and interest thereon, available for the funding of the Company’s initial Business Combination on the date of the consummation of such initial Business Combination (net of redemptions), and (z) the volume weighted average trading price of the Company’s common stock during the 20 trading day period starting on the trading day prior to the day on which the Company consummates its initial Business Combination (such price, the “Market Value”) is below $9.20 per share, the exercise price of the warrants will be adjusted (to the nearest cent) to be equal to 115% of the higher of the Market Value and the Newly Issued Price and the $18.00 per share redemption trigger price described above will be adjusted (to the nearest cent) to be equal to 180% of the higher of the Market Value and the Newly Issued Price.
The Private Placement Warrants are identical to the public warrants underlying the Units sold in the Initial Public Offering, except that the Private Placement Warrants will and the common shares issuable upon the exercise of the Private Placement Warrants will not be transferable, assignable or salable until 30 days after the completion of a Business Combination, subject to certain limited exceptions. Additionally, the Private Placement Warrants will be exercisable on a cashless basis and will be non-redeemable so long as they are held by the initial purchasers or their permitted transferees. If the Private Placement Warrants are held by someone other than the initial purchasers or their permitted transferees, the Private Placement Warrants will be redeemable by the Company and exercisable by such holders on the same basis as the Public Warrants. As of December 31, there were 10,000,000 Public Warrants and 5,666,667 Private Placement Warrants."
https://finance.yahoo.com/news/search-minerals-reports-14000m-deep-090000851.html
Search Minerals Inc
Thu, November 3, 2022 at 4:00 AM·5 min read
In this article:
SHCMF
+0.94%
Search Minerals Inc
Search Minerals Inc
Figure 1 Deep Fox - 2022 Drilling Activities
Figure 1 Deep Fox - 2022 Drilling Activities
Figure 1 Deep Fox - 2022 Drilling Activities
VANCOUVER, British Columbia, Nov. 03, 2022 (GLOBE NEWSWIRE) -- Search Minerals Inc. (TSXV: SMY | OTCQB: SHCMF) (“Search” or the “Company”) is pleased to announce that the planned 14,000m drilling of the DEEP FOX Phase 4 drill program have been completed. DEEP FOX, our second resource, is located within the Port Hope Simpson – St. Lewis Critical Rare Earth Elements (CREE) District in SE Labrador, Canada. (April 11, 2022 - Search Minerals Announces Increased DEEP FOX and FOXTROT Mineral Resource Estimates.) The drill program consisted of a total of 76 drill holes totalling 14,013 m of which 63 drill holes were for additional resource delineation and exploration and 13 drill holes were for the geotechnical and hydrogeological program. Our geology team will have all holes logged and sampled, with all samples sent for assay, in the next several weeks.
- ADVERTISEMENT -
DEEP FOX DRILL PROGRAM
The drilling commenced on June 3, 2022 and was completed on October 27, 2022.
Figure 1 Deep Fox - 2022 Drilling Activities
Figure 1 Deep Fox - 2022 Drilling Activities
Resource Delineation and Exploration:
Drilled 63 holes for a total of 10,651 m of oriented core;
All core will be lithologically, structurally, and geotechnically logged;
All mineralized and selected non-mineralized intervals are being sampled for assay and tested for specific gravity and magnetic susceptibility;
Drilled several holes beyond the outer limits of the current mine pit design particularly towards the east;
Visual mineralization observed in every drill hole.
Geotechnical Program:
Drilled 13 holes for a total of 3,362 m of oriented core;
A total of 11 of the 13 holes intersected mineralization and will become part of a new 2023 resource estimate;
Selected holes had vibrating-wire installations (3), were surveyed with Optical Borehole Imaging (3), were surveyed with Acoustic Borehole Imaging (7) and had Packer Testing performed (6);
All core has been geotechnically logged;
Mineralized intervals in this core has been lithologically logged and sampled for assay similar to the Exploration program listed above;
Selected samples have been collected and sent out for further geotechnical testing at a geotechnical laboratory.
Next Steps of our Exploration Program:
We anticipate having all assay results and data interpretation complete to initiate the updated resource estimation by mid-2023.
We will continue our channel sampling programs at DEEP FOX and FOX MEADOW.
Dr. Randy Miller, Vice-President, Exploration, comments, “We have observed mineralization in all delineation and exploration drill holes and await assay results to determine the grades. Infill drilling has decreased the spacings between drill holes in the proposed open pit to improve our confidence in grades and tonnages for a upcoming 2023 mineral resource estimate. Based on visual results from this new drill data we expect the open pit to be larger and the resource to potentially increase in size.”
Greg Andrews, President/CEO, states, “We continue with our “Sprint to Production”, and this drill program should enable Search to provide an updated mineral resource estimate in 2023. Search Minerals is well positioned to build a secure, sustainable rare earth supply chain in Newfoundland and Labrador to supply Canada and our trading partners. Our goal is to be in production by the year 2026.”
The DEEP FOX DEPOSIT occurs about 2 km northeast of St. Lewis, Labrador and 12 km east of the FOXTROT DEPOSIT.
Richard: thank you for all your pictures! They saw what you were doing and decided to make a drone video. (They might have done that anyway, but I am sure that what your pictures helped it along!)
SkiFunds; A good summary! Thanks.
"Don't make the perfect the enemy of the good."
"I must tell you friendly in your ear....sell while you can....You are not for all markets!" Shakespeare As you Like it.
In this case its more like "Perfect" and the "Pretty OK", and actually NioCorp looks much better than Phoebe, but I will go with number 2 and vote yes. (Special vote in January Post Lind payoff and after the FS including REES released? )
The current NioCorp board will still be the majority after the "purchase". I do not see them NOT building this mine once they finally have the resources. Better a producing mine in 4 years than Perfect Financing in 2.
Maxz M. Re Posting Section on Warrants for everyone's reference. A lot of posts made since it was originally posted. (Pages 2 and 3...see link in my post 3 or 4 posts back.)
"NioCorp will assume the GX Warrant Agreement and each GX Warrant that was issued and outstanding immediately prior to the effective time of
the Exchange will be converted into a warrant to acquire NioCorp Common Shares (a “NioCorp Warrant”)," (Page 2)
"Pursuant to the Business Combination Agreement, in connection with the First Merger and the assumption by NioCorp of the GX Warrant Agreement, each GX Warrant that is issued and outstanding immediately prior to the
Exchange Time shall be converted into one NioCorp Warrant pursuant to the GX Warrant Agreement. Each NioCorp Warrant shall be exercisable solely for NioCorp Common Shares, and the number of NioCorp Common
Shares subject to each NioCorp Warrant shall be equal to the number of shares of GXII common stock subject to the applicable GX Warrant multiplied by 11.1829212, with the applicable exercise price adjusted accordingly." (Page 3)
Hope this is helpful.
GE11; I may have said non performance fee, but was referring to the Termination fee. I think the Termination fee covers non performance as well as mutual agreement. I was relying on something someone posted previously. I went out to Sedar to confirm what was said. There are 192 pages and it was a small mercy that page 5 discusses Termination and the Termination fee. (I did not see what would happen if the Shareholders on either side did not approve of the deal....)
Click Here: Sedar NioCorp Sept 29
Termination
The Business Combination Agreement may be terminated by NioCorp or GXII under certain circumstances,
including, among others, (i) if NioCorp and GXII provide mutual written consent; (ii) by either NioCorp or GXII if,
prior to the Closing, the Transaction is enjoined, prohibited or otherwise restrained by the terms of a final, non-
appealable Order of a Governmental Entity of competent jurisdiction (provided, however, that the right to terminate
the Business Combination Agreement under the clause described in this clause (ii) will not be available to a party
whose breach of any provision of the Business Combination Agreement results in or materially contributes to
causing such Order to be issued or the failure of the Order to be removed); (iii) by either NioCorp or GXII if the
Closing does not occur on or before March 22, 2023, subject to certain extensions as permitted under the Business
Combination Agreement (provided, however, that the right to terminate the Business Combination Agreement under
the clause described in this clause (iii) will not be available to a party whose breach of any provision of the Business
Combination Agreement results in or materially contributes to causing the Closing to fail to occur prior to March 22,
2023, subject to certain extensions as permitted under the Business Combination Agreement); (iv) by either NioCorp
or GXII if the Company Shareholder Approval is not obtained at the Company Shareholder Meeting; (v) by either
NioCorp or GXII if the GX Shareholder Approval is not obtained at the GX Shareholder Meeting; (vi) by NioCorp
if GXII breaches any representation, warranty or covenant made by it in the Business Combination Agreement such
that the conditions regarding the truth, completeness and correctness of the representations and warranties made by
GXII and the performance by GXII of its covenants are not fulfilled as provided therein, subject to GXII’s cure right
set forth therein; (vii) by NioCorp in order to enter into a definitive agreement providing for a Superior Proposal;
(viii) by GXII if NioCorp or Merger Sub breaches any representation, warranty or covenant made by it in the
Business Combination Agreement such that the conditions regarding the truth, completeness and correctness of the
representations and warranties made by NioCorp and the performance by NioCorp and Merger Sub of their
covenants are not fulfilled as provided therein, subject to NioCorp’s cure right set forth therein; or (ix) by GXII in
the event of a change of recommendation by the board of directors of NioCorp (the “NioCorp Board”) or the failure
of the NioCorp Board to publicly reaffirm its recommendation of the Business Combination Agreement and the
Transaction.
Termination Fee
The Business Combination Agreement provides that, upon termination of the Business Combination Agreement in
specified circumstances, NioCorp must pay GXII a termination fee of $15,000,000 (the “Base Termination Fee”).
Such specified circumstances include, among others, termination of the Business Combination Agreement by
NioCorp in order to enter into an agreement providing for a Superior Proposal, termination by GXII for a change of
recommendation of the NioCorp Board, or a material breach of certain of NioCorp’s covenants relating to soliciting
acquisition proposals.
In addition, the Business Combination Agreement provides that, upon termination of the Business Combination
Agreement in specified circumstances, NioCorp is required to pay a termination fee in the amount of $25,000,000
(the “Intentional Breach Termination Fee”). Such specified circumstances include, among others, termination by
GXII as a result of a willful and material breach by NioCorp such that certain conditions to Closing would not be
satisfied at Closing (subject to a cure period), or as a result of NioCorp’s failure to consummate the closing of the
Transaction within five business days after all the conditions to Closing have been satisfied and GXII has
irrevocably confirmed in writing that it is prepared to consummate the Closing.
In addition, the Business Combination Agreement provides that, upon a termination of the Business Combination
Agreement whereupon GXII will be entitled to the Base Termination Fee or the Intentional Breach Termination Fee,
NioCorp is also required to pay an amount equal to the sum of all documented and reasonable out-of-pocket
expenses paid or payable by GXII and the Sponsor in connection with the Business Combination Agreement and the
Transaction, not to exceed $5,000,000.
Maxz; Chico; FS First quarter 2023; I have still not seen a date set for S/H to approve the Purchase of GXII. I have a hard time believing that the FS would be released after that Vote. Maybe preliminary Info on REE extraction at the time of the Annual Meeting in Early December followed by the FS followed by the Vote.
Thanks for your GXIIW postings yesterday! I purchased some GXIIW shares yesterday and was surprised when I went to purchase some more this morning to find my existing shares were up 64%! Should have purchased more! $0.31 US right now.
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"non-solicitation restrictions prohibiting the parties’ and their affiliates and representatives from soliciting alternative acquisition proposals from third parties or providing nonpublic information to, or participating in discussions or negotiations with, third parties regarding alternative acquisition proposals, subject to certain exceptions related to proposals received by NioCorp that constitute a Superior Proposal."
I do not see a superior offer happening in view of the non performance penalty and think that this will get approved.
PM: US DOE under Jennifer M. Granholm prefers to extract REEs from coal fly ash rather than mining it from the ground. Cant say whether this is cheaper than Niocorp's method of extraction. I suspect it colors their choice of recipients for loans and grants.
https://www.energy.gov/articles/doe-launches-32-million-program-advance-domestic-supply-chain-critical-minerals
"WASHINGTON, D.C.— The U.S. Department of Energy (DOE) today issued a Notice of Intent (NOI) to fund a $32 million Bipartisan Infrastructure Law program supporting front-end engineering design (FEED) studies to produce rare earth elements (REEs) and other critical minerals and materials (CMMs) from domestic coal-based resources. ...snip... Converting coal production waste into components of clean energy technology can create good-paying jobs in communities that have historically produced fossil energy fuels and power."
https://www.purdue.edu/research/researchatpurdue/science-for-you-from-coal-ash-to-electronics/
and:
https://www.energy.gov/fecm/articles/recovering-rees-coal-fly-ash-using-acid-digestion-and-electrowinning-processes
"Battelle Memorial Institute (BMI) and Rare Earth Salts (RES) demonstrated that developing an environmentally benign and economically sustainable process for recovering rare earth element (REE) products from domestic coal ash sources is possible. A part of a National Energy Technology Laboratory (NETL)-funded cooperative agreement, these results mark a significant step forward in developing domestic sources of supply for REEs, which remains a priority for the U.S. Department of Energy (DOE)."
(**Rare Earth Salts is that coupany located in Beatrice NE, next county over from Elk Creek.)
https://seekingalpha.com/article/4548173-desert-mountain-energy-closer-to-revenue-and-overseas-expansion
Oct. 21, 2022 2:34 PM ETDesert Mountain Energy Corp. (DME:CA), DMEHFAIQUF, AIQUY
Summary
Desert Mountain Energy's helium plant is closer to entering production.
Overseas business expansion has been hinted at as well as state side.
Dollar cost averaging could work in this environment to acquire speculative assets at beat up prices.
more at link.
NE; " At this point, the adjustments will make near term future years look slightly better."
I was pretty sure that was the outcome, just nice to have someone else confirm that.
So released after the conferences to avoid distraction from their content, but before the L3 results which we trust will be positive and make most forget the restatement of their fiancial statements.
I will refrain from making any prediction as to when the REE results will be released, which will probably be after the to be announced vote and before the proposed Merger.