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Dutch 123: "Another USD 500 million? That would result in a CapEx of at least USD 1.6B."
Not certain of your source of this figure. Lashing out a bit with idle speculation?? . Hard to blame you in view of the delays.
Managment states that they are working to lower costs. They have also stated that most of the REE processing will occur as an "Add on" to the planned Scandium/Niobium extraction.
https://www.niocorp.com/process-enhancements-to-niocorps-critical-minerals-project-plans-point-to-possible-capex-and-opex-reductions-and-possible-lower-greenhouse-gas-emissions/" rel="nofollow" target="_blank" >https://www.niocorp.com/process-enhancements-to-niocorps-critical-minerals-project-plans-point-to-possible-capex-and-opex-reductions-and-possible-lower-greenhouse-gas-emissions/[tag]
Process Enhancements to NioCorp’s Critical Minerals Project Plans Point to Possible CAPEX and OPEX Reductions and Possible Lower Greenhouse Gas Emissions[/tag] snip....
snip...."If proven at the demonstration plant level, this design is expected to substantially reduce the amount of acid consumed by the operation, which could lead to lower CAPEX and OPEX costs for the Project than those projected in the Project’s May 2022 Feasibility Study."
While "Possible" does not equal "Realized" I would rather they work this out before hand. That said, there is nothing that I can see that I can do to move this process along so all I can do is to wait for L3 and managment.
MS extension and PP announcement in the next few days L3 results next month.
I hope that everyone here can get away from these questions and enjoy their summer! (And that Niocorp finally resolves the financing issue!)
Investment Highlights:
District Opportunity - Search controls a 63 km X 2 km District with a stand alone mineral resource, two other discoveries and 20 additional prospects. Preliminary Economic Assessment - on the FOXTROT Resource - After-tax payback in 4.4 years.
Solid Returns - Discounted at 10 per cent per annum, the 14 year LOM FOXTROT Project offers an IRR of 16.7% on an After Tax NPV of $48m. Low CAPEX Burden - At $152million, initial CAPEX costs are very low.
Low OPEX - Road accessible, on tidewater and a breakthrough hydrometallurgical process provides opportunity to be a low-cost producer. Scalable Project – initial production of 1,000 tpd.
Critical REEs - Economically significant percentages of dysprosium, neodymium, praseodymium, terbium and lanthanum.
Environmental Advantage - Dry stackable waste residue is more environmentally friendly.
Exploration Upside - Two new discoveries requiring drill programs and numerous other properties requiring further work. Mining Friendly Jurisdiction - Newfoundland and Labrador ranked #16 out of 104 jurisdictions reviewed by the Fraser Institute.
Great Relationships - Supportive aboriginal and local communities. Experience - An energized Management Team and Board of Directors.
Chico, thanks! Picked up some more shares at $0.12 US. Now comes the waiting patiently part! (Not too long I hope!)
PM. No, there was no context to what he said, just the quote. I think you are right and he is probably talking about the state (the Crown) and the process of eminent domain.
PM; Heck, I thought that there would be some protections to owning a Canadian registered company, but now I wonder!
https://foxmetronews.com/news/canadian-attorney-general-announces-citizens-do-not-have-the-absolute-right-to-own-private-property-video/
"Trudeau’s Justice Minister and Canadian Attorney General David Lametti announced this week that Canadians do not have an “absolute right to own private property.”"
You may be a placeholder until the CA authorities notice that you have a large capital gain worth seizure.
In the meantime we probably have some SP suppression by our banker Lind or some investor scooping up cheap shares. (I have been vacationing and have come home for a while!) Did they extend Marks loan again?
(I posted one of your Canadian article links on another board! Thanks!)
Article: "The Canadian government has revealed it will provide C$3.8B of financial support for critical minerals in its 2022 budget."
(Hat Tip; Link from Putz Mueler on the NIOBF board)
https://www.theassay.com/articles/analysis/musk-leads-race-to-tie-up-critical-minerals/
Snip....
Canada moves quickly and hard
"The Canadian government has revealed it will provide C$3.8B of financial support for critical minerals in its 2022 budget.
The funds are being allocated to accelerate domestic production and processing of critical minerals, particularly lithium, cobalt and nickel to be used in the manufacture of LIBs, portable electronics, and stationary storage cells to make electricity use more efficient.
The 2022 budget critical mineral support highlights include:
C$1.5B to invest in new critical minerals projects, with priorities for mineral processing, materials manufacturing, and recycling for key mineral and metal products in the battery and rare-earths supply chains
C$80M for public geoscience and exploration programmes to help find the next generation of critical minerals deposits
Doubling of the Mineral Exploration Tax Credit (“METC”) for targeted critical minerals, including nickel, copper, cobalt, rare earths, and uranium
C$1.5B for infrastructure investments to unlock new mineral projects in key regions
C$144M for research and development to support responsible extraction and processing of critical minerals
C$10M renewal for the Centre of Excellence on Critical Minerals for three additional years
C$40M to support northern regulatory processes to review and permit critical minerals projects
C$70M for global partnerships to promote Canadian mining leadership
C$15B to support the Canada Growth Fund to restructure supply chains in areas important to Canada’s future prosperity, including the natural resources sector
The budget announcement has been widely welcomed by industry and Canadian critical minerals developers." snip...
Search is receiving funds from Newfoundland and Labrador, I do not know if CA funding will be provided to them and what strings would be attached. (This would probably explain SHCMF decision siting of processing facilities in Newfoundland.)
http://searchminerals.ca/news/news-releases/search-minerals-acknowledges-junior-exploration-assistance-from-government-of-newfoundland-and-labrador-2022
Chico, Buddy, thanks for posting and for your anlysis ! Made your post 309 a sticky!
"The pre-tax capital payback is 1.5 years and after-tax capital payback is 1.8 years from start of production.
Initial capital costs: $422M (includes $61M contingency)"
I am hoping these figures appealing enough to get this off the ground late this or next year! (Although we know about the reality of managment timetables!)
Re-posting this link from GE11 on the NIOBF board. Given that USA Rareearths purchased a magnet factory from Hitachi in N.C. I am a bit surprised to see this factory opening in Oklahoma. (IIRC they will be processing their rare earths in Colorado so maybe that is the reason.) I have not seen any further mention of USA Rare Earths going public.
USARareEarth Stillwell Oklahoma Factory
I will be in and out this summer but I will continue to watch SearchMinerals, NIOBF and DMEHF and seeing if I can purchase a few more shares today.
DESERT MOUNTAIN ENERGY ANNOUNCES PRIVATE PLACEMENT
BY Canada NewsWire
— 3:00 AM ET 06/08/2022
TSX.V: DME
U.S. OTC: DMEHF
Frankfurt: QM01
VANCOUVER, BC, June 8, 2022 /CNW/ - DESERT MOUNTAIN ENERGY CORP. (DMEHF) (the "Company") (TSXV: DME) (U.S. OTC: DMEHF) is pleased to announce that it is proceeding with a non-brokered private placement offering to raise up to CAD $5 Million. Under the terms of the private placement, the Company will offer for sale up to 1.667 million Units (the "Units") at CAD $3.00 per Unit. The Company may in its sole discretion increase the maximum of the offering by up to 5% to a maximum of 1.75 million Units.
Each Unit will consist of one common share of the Company and one share purchase warrant (the "Warrants"), with each whole Warrant allowing the subscriber to purchase one additional share of the Company for a period of three years from the date of the closing at a price of CAD $4.00 per share. The expiry of the Warrants may be accelerated at the election of the Company by written notice if the closing price for the common shares on the TSX Venture Exchange shall be equal to or greater than CAD $8.00 per share for a minimum of ten consecutive trading days. Finder's fees are payable of up to 7% in cash and 5% in finder warrants, with the finder warrants having an exercise price of CAD $4.00 per share, but with no forced conversion. Proceeds from the private placement will be utilized for exploration and development of the Company's helium projects, as well as working capital and general corporate purposes.
The Units will be subject to a 4-month hold period. The private placement is subject to the approval of the TSX Venture Exchange.
"We, like every other Company, are dealing with inflationary and supply chain bottleneck pressures," says Robert Rohlfing, CEO of Desert Mountain Energy Corp. (DMEHF) "Having a healthy treasury has been invaluable in staying ahead of inflation by prepaying for essential components of our business such as cement, fuel and steel. This raise with minimal dilution allows us to continue with that strategy."
Chico; Grunt; All "These process improvements also could allow the Company to produce calcium and magnesium materials at purity levels that may be sold as commercial products; however, further analysis and testing is required to determine whether there are reasonable prospects for economic extraction for calcium and magnesium before they could be included in the Elk Creek Mineral Resource."
It would be great to convert a processing byproduct into a salable product. Will they need to help develop a market for this as well?
Magnesium being developed as an energy metal: (Under development lithium competitor? ...)
https://phys.org/news/2010-04-magnesium-alternative-power-source.html
snip.....
"The MAFC (magnesium-air fuel cell) has the electrolyte versatility of using a common saline (salt) solution or ocean water. The performance capabilities of the MAFC can be enhanced through the addition of MagPower’s hydrogen inhibitors.
According to MagPower Systems, by using hydrogen inhibitors the MAFC has increased power efficiency, lower cell resistance, and the reduction or elimination of pressure and/or volume increase due to hydrogen gassing resulting in smaller metal-air fuel cells, and batteries.
Magnesium is highly reactive and stores a lot of energy. Researchers are now devising ways to extract energy from magnesium in a more controlled method."
https://en.wikipedia.org/wiki/Magnesium_injection_cycle
Overview
"The joint project, initiated in 2005 and still in the experimental stage, developed a prototype carbon dioxide (CO2)-free engine in 2006 that ran successfully without the need for fossil fuels. The chemical reaction between magnesium (in a powder form) and water at room temperature produces high-energy steam and hydrogen. The hydrogen is burned at the same time to produce additional high-energy steam. These two steam sources power the engine. The energy cycle produces no carbon dioxide or other harmful emissions. The only by-products of this reaction are water and magnesium oxide. The magnesium (a common metallic element) is separated from the oxygen through a solar-powered laser process (the development of which is already well advanced) and is reused over and over again as fuel.[1][2][3]"
https://www.sciencedirect.com/science/article/abs/pii/S0378775315007764
BRIEF-Search Minerals Commencing Deep Fox 14000M Drill Program And Provides Corporate Update
https://www.globenewswire.com/news-release/2022/05/31/2453735/0/en/Search-Minerals-Commencing-Deep-Fox-14000m-Drill-Program-and-Provides-Corporate-Update.html
* SEARCH MINERALS COMMENCING DEEP FOX 14000M DRILL PROGRAM AND PROVIDES CORPORATE UPDATE Source text for Eikon: Further company coverage:
VANCOUVER, British Columbia, May 31, 2022 (GLOBE NEWSWIRE) -- Search Minerals Inc. (TSXV: SMY | OTCQB: SHCMF) (“Search” or the “Company”), is pleased to provide the following update related to our planned 2022 activities.
Search has also mobilized the exploration team on site consisting of 11 geologists and 12 support staff to carry out the 2022 field program. This team led by Dr. Randy Miller, will oversee the execution of the program that will include drilling, channelling, field mapping and magnetometer surveying.
Search has completed the purchase of additional property in the community of St. Lewis. This property will be the location of a 12-person camp that will be used to support the 2022 exploration program. Permission to operate this facility has been received from the St Lewis Town Council and will be ready for occupancy on or about June 7th.
Additional environmental baseline data collection programs, including water sampling, have been designed for this season. These programs will support the initiation of the approvals process for the proposed mine and concentrator.
The Company has also started construction of an additional 40’ x 40’ sample storage facility to enable the secure storage of drilling and exploration samples. This storage facility is located next to Fox Harbour House, the Company’s field house, office and core facility in St. Lewis. This new infrastructure is part of the overall development planning and will accommodate the rapid growth of Search’s exploration and development activities.
Search has initiated its community engagement program and will be holding community information sessions in Port Hope Simpson, St. Lewis and Mary’s Harbour, in early June. Search continues to work with stakeholders and the NunatuKavut Community Council department of Environment and Natural Resources to seek opportunities to collaborate on environmental baseline data collection and regional studies.
Preliminary Economic Assessment Report
The Preliminary Economic Assessment Report (“PEA”), which combines both Deep Fox and Foxtrot resource estimates, announced on April 11, 2022 is in the final stage of technical review. A news release highlighting key findings is expected on or around June 07, 2022. As previously outlined, the key variables addressed in this PEA include:
Increase production rate from both Deep Fox and Foxtrot
Higher grades of our key permanent magnet elements (Neodymium (Nd), Praseodymium (Pr), Dysprosium (Dy)) in Deep Fox deposit
Primary Processing using grinding and magnetic separation to produce rare earth concentrate for our proprietary Direct Extraction Process (“DX”)
Increased recoveries from our DX processing applied to Foxtrot mineralization
Significant increase in REE prices.
Phase 1 - 70t of bulk sample using grinding/magnetic separation.
We are nearing completion of the testing of our 70t bulk sample from Deep Fox and Foxtrot at SGS Canada, through our new grinding and magnetic flowsheet (see February 16, 2022 - Search Minerals magnetic separation of bulk samples commences at SGS Canada). Phase 2 will process approximately 20t of the prepared concentrate through the proprietary direct extraction flowsheet. The Company will be submitting a Letter of Intent as outlined in a Call for Proposal from the Federal Government for demonstration plants from advanced critical minerals projects in Canada.
Fox Meadow 6000m drill program in Fall 2022.
The Company anticipates commencing a 6000m drill program on our highly prospective Fox Meadow Project. Mapping, prospecting, trenching, channeling, and geophysical surveys confirm the current known extent of two mineralized zones at FOX MEADOW: the NW zone is up to 175m wide, and the SE zone is up to 154m wide. Combined, known mineralization is at least 790m long, and is open to the NW and SE. The drill program will test for mineralization at depth below the current known strike length. This drill program will commence after the Deep Fox program and will require additional funding.
AGM Results
All matters were approved at the Company’s Annual General shareholders meeting (the “Meeting”) held on May 25, 2022. At the Meeting the Company’s shareholders re-elected all of the Company’s current board of directors, Greg Andrews, David Dreisinger, Leo Power, Jocelyn Bennett and George Molyviatis as well as approved the re-appointment of the Company’s current auditor, Mao & Ying LLP. The Company’s shareholders also approved the adoption of a new 10% rolling stock option plan in accordance with the requirements of the TSX Venture Exchange.
------------------------------------
I will be out of town for the next week so will not be updating this thread!
GLTA
Chico; Yesterday: Search Minerals Acknowledges Junior Exploration Assistance from Government of Newfoundland and Labrador
May 24th, 2022
VANCOUVER, May 24, 2022 - Search Minerals Inc. (TSXV: SMY | OTCQB: SHCMF) (“Search” or the “Company”) is pleased to acknowledge receipt of a grant of $90,000 from the Province of Newfoundland and Labrador towards exploration work completed in 2021 on the Company’s Critical Rare Earth Element (CREE) claims located near the communities of St. Lewis and Port Hope Simpson in Southeastern Labrador.
Greg Andrews, President and CEO of Search Minerals states, “Search is very appreciative of the Junior Exploration Assistance Program (“JEA”) funds granted by the Province of Newfoundland and Labrador Department of Natural Resources. These funds allowed us to hire local personnel and continue to explore and advance the delineation of resources in Labrador’s Critical Rare Earth Element District (the “District”) in 2021. The Company controls a belt 63 km long and 2 km wide and there are still 20 showings within this belt to be assessed and maintained.”
Andrews added: “The results from the 2021 exploration program has allowed Search to significantly increase our resource base and will form part of the updated Preliminary Economic Assessment report which will be released in Q2, 2022. We are in the process of mobilizing for our upcoming 2022 drill and exploration program, which will include approximately 14000m of drilling at Deep Fox to commence in June. The drill program is fully funded with our recent flow-through funding completed in December 2021. We will also continue our exploration work along the District at Silver Fox and Fox Meadow prospects. Fox Meadow is “Drill Ready” and we look forward to commencing a 6000m drill program in the Fall 2022.”
Douginil; Thank you for reinforcing MaxzMillion's previous comments and taking the time to individually address the S.A. article for regular posters and also for all the new viewers to the NioCorp board.
To summarize your comments for drive-bys:
Maxz; Thanks! Very good information to know. Additional information that will help people to evaluate this S.A poster and his post to that site.
MaxzMillions; Info on Tim Worstall;
https://seekingalpha.com/author/tim-worstall/comments
"Tim Worstall is a wholesaler of rare earth metals and one of the global experts in the metal scandium. He is also a Fellow at the Adam Smith Inst in London and an writer for a number of media outlets, including The Times (London), Telegraph, The Register and even, very occasionally indeed, for the WSJ. This account is linked with that of Mohamad Machine-Chian: https://seekingalpha.com/user/52914142/comments"
-------------------------------------------------------------------------------------------------------------
The man sells scandium. Maybe his franchise is threatened by an increased supply. Maybe his Suppliers do not want another scandium source, constrict and control the supply, keep the price up.
-------------------------------------------------------------------------------------------------------------
More info here.
https://iea.org.uk/authors-info/tim-worstall/
Nebraskan; Thank you for correcting the float number! It could not be more than the issued shares! I grabbed the wrong number from a Non NioCorp tab.
P.M. Well, I picked up some shares at $1.02 US. If folks start selling a few hundred shares at bit higher price maybe we can get some SP creep up! (What Nitwit keeps selling at US $.99 ??)
I suspect that one of the problems is that all of us just want to hang on to shares which does not make much of a market! (What is the Float? 330,00 million shares?)
We are getting near month end....I suspect that Lind will drive down the prices so it can convert at that lower price! (IIRC!)
Maybe the price will go up once everyone in Canada has had a pint for Victoria Regis and the TSX opens again! :)
Sayings of HRM Victoria:.
"We will not have failure - only success and new learning."
"We are not interested in the possibilities of defeat. They do not exist."
[On alcohol:] Total abstinence is an impossibility and .
.. it will not do to insist on it as a general practice.
Give my people plenty of beer, good beer, and cheap beer, and you will have no revolution among them.
(I can see why some people in Canada like her!)
Happy Victoria Day!
(Good deal...my $1.02 US purchase price held until Closing!)
Chico; Thanks! Indeed, a happy coincidence! Lets hope that Canada and Labrador will have a sense of urgency about getting Search Minerals up and running!
Open pit mining should reduce the lead time to getting Search underway! Lets hope that the news on NioCorp will create a sense of urgency in Ottawa and the provincial authorities to get this underway!
Enduro Metals Closes C$10-Million Private Placement of Common and Flow-Through Shares
BY MT Newswires
— 5:26 PM ET 05/19/2022
05:26 PM EDT, 05/19/2022 (MT Newswires) -- Enduro Metals (ENDMF) on Thursday said it closed a private placement of common and flow-through shares that raised C$10 million.
The company said it placed one-million common shares priced at C$0.26 each, as well as 3.33-million flow-through shares priced at C$0.30 and 24-million charity flow-through shares priced at C$0.365.
"The company intends to use the proceeds of the offering for the exploration of the company's key projects located in the Golden Triangle and for general working capital purposes," it said in a release.
Enduro shares closed up C$0.005 to C$0.23 on the TSX Venture Exchange.
Chico; Bouncing around, currently about $.95 U.S. Volume 1,137,000 shares, (9:56 CST)
I hope it resolves up at day end to > $1.00 and that we start to get some Brokerage Firm coverage, or at least, Investment Company analyst purchases to drive up more interest in the project!
As always, thanks for your dedicated analysis postings to the board!
Walter: don't cancel! Denver has freezing with snow one day, the next day you get downslope winds and 80 F degrees the next!
Walter!
I hope your trip to Denver later this month is a fruitful one! I think that the snow will stop falling before your visit!
(Saturday May 21st Denver Weather)
(Forcast in Denver is for snow this weekend! * WHAT...Heavy snow possible. Total snow accumulations of 4 to 12 inches possible. Winds could gust as high as 35 mph. * WHERE...Portions of central, north central and northeast Colorado. * WHEN...From Friday afternoon through Saturday morning. * IMPACTS...Travel could be very difficult. The hazardous conditions could impact the evening commute. - NWS Boulder (Northeastern Colorado)
Sitzfleish! (roughly translated...patience!)
Ubrig macht Meister! (Practice makes the master!)
Financing next....
NioCorp at $1.05 at 8:39 CST (1.39 UTC!)
My Retirement account looks rich again! (For the time being!)
PM. U.S. $.90 126,000 shares traded.
I put a trade out there at US $2.30 which I do not really expect to be filled, but you never know....
Chico, as always, thanks for your in depth Analysis and Comparisons!
(Second largest, Or Better...)
D.M. There you go! That's what we were looking for!.
Now for the financing!
Chico; Last post to NioCorp's website was April 16, 2022.
"April 16, 2022
Nebraska Regulators Advise NioCorp that the Elk Creek Project’s Air Construction Permit No Longer Requires Time Extensions to Remain in Force"
At the very least we should be getting updated information from a review of historical Core Samples soon, something expected at the end of April (IIRC).
Chico; Glad you are there to take care of father and family! That is the priority!
Summertime and NioCorp is currently doing "Mark Time March" while they wait for L3 and maybe financing and assemble whatever financing/legal reporting they need to get done in the 3 stock market jurisdictions where their stock is sold. Could they be in some quiet period? I can't say.
Waiting for results from the recycled Toyota Dealership in Quebec? At least L3 (?) and their testing process did not require construction of a new $10,000,000 building, which speaks to a sense of frugality, which we should all appreciate. (Since they are attempting to reduce cost of the entire metals recovery/refining process!)
If some sort of U.S. Government assistance was requested, that takes years, so lets hope this gets resolved with private financing or a big bucks buyout.
(Interesting to watch Musk toying with Twitter. I suspect that the directors and board may have a bit of a Sarbenes-Oxley problem with misreporting imaginary user "assets". Could get him off the 1 billion backout fee. Tesla needs several mining companies to free themselves up... some for lithium, some for metals and REEs.)
Check back in when you can! (I am going out to enjoy the day!)
https://endurometals.com/enduro-presenting-at-cambridge-houses-vancouver-resource-investment-conference/
Enduro Presenting at Cambridge House’s Vancouver Resource Investment Conference
16th May 2022
May 16th, 2021, Vancouver, British Columbia, Canada – Enduro Metals Corporation (TSXV: ENDR OTCQB: ENDMF FSE: SOG-FF) (“Enduro Metals” or the “Company”), has an 100%-interest in the largest land positions in the heart of Canada’s Golden Triangle as an explorer, is pleased to announce that the Company will be presenting at Cambridge House’s Vancouver Resource Investment Conference (“VRIC”) 2022 in-person mining conference in Vancouver, Canada.
About VRIC
On May 17 and 18, 2022, they are hosting the ultimate financial masterclass, gathering world leaders, globally respected economists, and legendary money managers and investors to dive deep into the most important issues that we will face in the coming years.
Vancouver, Canada
Tuesday May 17 & Wednesday May 18, 2022
For a 20% discount use this code at check-out: ENDR20
To register: https://www.eventbrite.com/e/vancouver-resource-investment-conference-2022-tickets-182129663727
Enduro Metals Presentation
Sean Kingsley, Enduro’s Director of Communications will be presenting May 18th at 11am.
For further information please contact:
Investor Relations
Sean Kingsley – Director of Communications
Tel: +1 (604) 440-8474
Email: info@endurometals.com
Information from DMEC Investor presentation for:
DESERT MOUNTAIN
ENERGY CORP.
"The exploration and development of helium, hydrogen and noble gas properties
in Northeastern Arizona
Advancing the McCauley Helium Field to initiate production in Q3 2022
World-Class technical team with decades of experience in the exploration and
development of helium, hydrocarbons and other minerals
Excellent access to capital markets
Sufficient Capital to complete the McCauley Helium Finishing Facility, drill
offset and wildcat wells in 2022
Now trading on TSX Venture Exchange under the ticker symbol “DME.V”. Also
trades on the U.S. OTCQX as “DMEHF” and Frankfurt as “QM01”. The Company
has more value in place than ever before
A corporate philosophy that respects the environment, the community and
education
+85,000 acres of mineral leases in the Holbrook Basin, Northeastern Arizona
Successfully drilled 4 wildcat helium wells and 3 offsets
All wells are financed with no debt and approximately CDN $18,000,000 in
the treasury
The company signed the final contracts with GENRON for the construction
of the McCauley Helium Field finishing facility with all-in costs of
approximately US $7,000,000
The startup of the McCauley Helium Field finishing facility is planned for
the end of Q2 of 2022
The company plans to drill 7 offset and wildcat wells in 2022
The company has pre-ordered strategic components for the Rohlfing Helium
Field finishing facility"
(More at link!)
---------------------------------------------------------------------------------------------------
Attention to the "No Debt" part; The 7 wells have been drilleed and cased. See previous post regarding helium levels!
Link to announcement of the May 25 Annual Meeting:
http://www.searchminerals.ca/assets/2022-Search_-_Notice_of_Meeting.pdf
DESERT MOUNTAIN ENERGY REPORTS HELIUM GRADES AVERAGING OVER 3.5% IN McCAULEY HELIUM FIELD OFFSET'S
BY PR Newswire
— 3:00 AM ET 05/11/2022
TSX.V: DME
U.S. OTC: DMEHF
Frankfurt: QM01
VANCOUVER, BC, May 11, 2022 /PRNewswire/ - DESERT MOUNTAIN ENERGY CORP. (the "Company") (TSXV: DME) (U.S.OTC: DMEHF) From the President of the Company.
Desert Mountain Energy Corp. (DMEHF) is pleased to announce that Helium concentrations in Offset Wells #5, #6 & #7 were higher than originally found in Discovery Well #4. The average Helium percentage makeup using combined starting flow rates from the offsets was 3.511%. CO2 averaged 0.0201% with the balance of the gas being Nitrogen. These zones were perforated to be combined with Well #4 to create the most balanced level and mixtures of gas to initiate production from the McCauley Helium Processing Facility. "We are thrilled that these wells increase the Helium average significantly above Discovery Well #4's results," says Robert Rohlfing, CEO of Desert Mountain Energy Corp. (DMEHF) "This will make the wells much more profitable."
The average Helium spot tests on the offsets were more than almost three times those of Well #4. A pay zone with over 4% Helium in Well #5 located in the Rohlfing Helium Field will also be processed in the same processing facility. These overall levels of increased Helium combined with below minimal levels for CO2 are confirmation of our geologic modelling.
DME is building the first solar-powered Helium processing facility using Hydrogen as a backup power source in North America. The Company's goal is to produce as near to zero carbon footprint, from our operations as possible.
Walter; Yes, its standard fine print prospectus language.
I do not think they would be talking about REEs at all if there was any issue that they would not be producing them!
PM. Yah, a lot of bad things all hitting at the same time. Friday, Sell in May crowd, Jobs and Federal Reserve, the Apparent lack of progress on Financing.
On the plus side, the Patricias have not marched on the border yet to occupy D.C.!
(Or maybe it would be better if they did!)
Douginil, Chico, Grunt, All; See page 20 for "Elk Creek Project Update" (I do not have the pay version of Acrobat so cant cut and paste.)
It discusses extraction methods undertaken by L3 and notes in a bullet point:
" L3 is in the process of constructing a small scale integrated demonstration plant at its Quebec Facility, which will address hydro metallurgical recommendations from the Company's 2019 Feasibility Study as well as demonstrating potential Rare Earth recovery operations.
Construction of this demonstration facility advanced during the current quarter along with the bench-scale testing needed to support final plant design. Management believes plant construction will be completed, and the test facility will be in operation, during our current fiscal quarter ending June 30 2022. "
It also states:
"Work efforts to define mineral resource with respect to Rare Earth date continued during the quarter; however it is not yet certain if this work will result in Rare Earth Data being delineated as a mineral resource. "
My thought is that it will be, but I think that they have to be careful about stating this due to securities regulations in the TSX and other markets. I do not think that we will get any information about the results until next quarter.
Nebraskan. From the shareholder equity section; (Which means a small change to total shares between March 31 and May 6)
Shareholder equity for 9 months ended March 31, 2022 (Actual number of shares)
Common shares June 30 2021 256,379,931
Exercise of Warrants 871,750
exercise of Options 1,926,533
Dept conversions 8,905,502
March 31 2022 268,083,716
Crrnt Potential Dilutive securites 33,888,118
If I read this correctly
total Diluted shares is 301,971,834
Niocorp website gives 12/31/2021
Fully Diluted Shares Outstanding 304,733,172
Which I take to mean that 2,761,338
this number of warrants went
un-exercised for the period.
(Cash flow shows $6,622,000 in conversions of debt for common shares, which is how they fund operations, which I think everyone here already knew.)
Grunt; Thank you.
(Expressed in thousands of US$)
Current Assets; US $3, 464 Cash and equivalent at end of March 31 2022
Operating expenses for the 3 months ended March 31 2022 US $1,386
So roughly perhaps 2.5 - 3 months of operating capital based on the current burn rate.
DESERT MOUNTAIN ENERGY BEGINS FABRICATION WORK ON THE McCAULEY HELIUM PROCESSING FACILITY
Vancouver, British Columbia — DESERT MOUNTAIN ENERGY CORP. (the “Company”) (TSX.V: DME, U.S. OTC: DMEHF, Frankfurt: QM01) From the President of the Company.
Desert Mountain Energy’s contractor, GENERON, has begun fabrication of the McCauley Helium Processing Facility. The processing facility is the first solar-powered helium processing facility in the world. In addition to using solar energy, the Company will also use hydrogen that was discovered in the McCauley Helium Field as a backup energy source. To remain efficient and save money, DME’s engineering teams designed the McCauley Helium Processing Facility utilizing mostly off-the-shelf components. Connections are designed with the highest structural strengths to ensure a long-life span with multiple redundant critical aspects.
“We are excited that GENERON has begun assembly on the McCauley Helium Processing Facility,” says Robert Rohlfing, CEO of Desert Mountain Energy Corp. “DME has proven that we can discover helium and the plant will demonstrate that we can produce, process and sell it directly to end-users. Plant startup, which is scheduled for completion some time in the third quarter, is a major component of our goals. The worldwide helium supply continues to be in critically short supply and DME is striving to be part of the solution.”
The Company has also completed work on wells 5, 6 and 7 with flow gas samples being sent by ground transportation to an independent lab for gaseous analysis.
Chico; Lets hope this falls under "any other business that the board might consider!"
Interesting Article; Gold as a Fuel cell component. (Gold nanoparticles and Curcumin)
https://www.theengineer.co.uk/content/news/curcumin-and-gold-nanoparticles-key-to-ethanol-fuel-cells
"Curcumin — the substance in turmeric — and gold nanoparticles have been combined to create an electrode that requires 100 times less energy than hydrogen to efficiently convert ethanol into electricity.
According to researchers at the Clemson Nanomaterials Institute and the Sri Sathya Sai Institute of Higher Learning, of all the catalysts for alcohol oxidation in alkaline medium that exist, the one they prepared is the best so far. Thus, their finding paves the way for replacing hydrogen as fuel cell feedstock.
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Fuel cells generate electricity through a chemical reaction instead of combustion." ...Snip more at link.
Doug, Thanks! I will take a look at the Youtube later!
I found this interesting:
"About Search Minerals Inc.
"snip....Led by a proven management team and board of directors, Search is focused on finding and developing Critical Rare Earths Elements (CREE), Zirconium (Zr) and Hafnium (Hf) resources within the emerging Port Hope Simpson – St. Lewis CREE District of South East Labrador. The Company controls a belt 63 km long and 2 km wide and is road accessible, on tidewater, and located within 3 local communities."
They appear to be setting themselves apart from other REE projects by emphasizing ZR and HF.